Having a heart attack typically makes a consumer more conscious of their mortality and the responsibilities they have toward their dependents. Unfortunately, at the same time going through a heart attack can create challenges when it comes to finding a good life insurance policy.
Nevertheless, it's still possible to get life insurance after heart attack if consumers know what to look out for. Consumers need to understand where they stand with life insurance providers and what they need to look for to get the coverage they need to keep their family financially secure regardless of what happens.
How a Heart Attack Affects Life Insurance Policies
Obviously, a heart attack is likely to make life insurance more expensive for you. Ideally, a consumer will have already signed on to a life insurance policy before a heart attack. However, after a heart attack occurs, it will be part of your medical history and life insurance providers will evaluate this event in determining whether or not they can insure you. Typically these things are reviewed during the under-writing process, but it is also possible to get life insurance with no medical exam.
A heart attack typically indicates that heart disease or coronary artery disease is present. Heart attacks happen most commonly in those who are over 45 years old. Heart attacks occur because blood clots form and block off blood flow in the heart.
After a heart attack, patients are typically advised by their doctors to change some lifestyle tendencies to lose weight, lower their cholesterol levels, and improve their overall health. If no lifestyle changes are made, it is likely that a patient will suffer another heart attack down the road. Severe heart attacks can be fatal.
Life insurance providers know that an individual is more likely to die if he or she has recently experienced a heart attack. Depending on your situation, you may be unable to find any life insurance with pre-existing conditions like a heart attack until you make some changes and can show medically documented results. Even if you can get life insurance after a heart attack, your premiums may be high and your death benefit may not be as valuable as your would hope.
Fortunately, there are typically some things you can do to improve your chances of finding acceptable life insurance after heart attack.
Heart Attack Factors That Will Impact Your Options
There are numerous factors that influence how severely a heart attack will detract from one's ability to get a good deal on life insurance. Factors that influence the impact of a heart attack include how long ago the heart attack occurred and how severe it was.
More severe heart attacks involve blockages of more than just one artery. Another important factor detailing the severity of a heart attack is what the ejection fraction for a patient is. The ejection fraction for a patient is a measurement of how well the patient's heart is pumping blood when it beats. The measurement is a ratio.
Patients that have ejection fractions that are above 50 percent can often qualify for a good deal on life insurance even if they have recently experienced a heart attack. On the other hand, patients with a lower ejection fraction ratio may struggle to find any life insurance policies that will accept them.
After a heart attack, patients can always increase their chances of getting life insurance by developing healthier habits. If patients show that they have stopped smoking or drinking after a heart attack, life insurance providers will know that they are less likely to experience another heart attack in the near future. Life insurance for smokers is often more expensive. Also, patients can improve their health and their life insurance prospects by dropping weight and by engaging in regular cardiovascular exercise.
Documenting your efforts to improve your heart health can give you some evidence to present to life insurance providers to show that you are getting healthier and are increasing your odds of avoiding future heart problems.
Policy Options to Consider
You'll find the best policy if you shop around and consider your various options. When it comes to life insurance, there are numerous policy types to choose from. One distinction you're going to need to understand is the difference between term life and whole life insurance.
- Term life insurance - A term life insurance policy will only be in effect for a certain number of years, like 5, 10, or 20. Term life insurance policies are likely to be easier to get for those who have recently experienced a heart attack. A short term policy will only require the insurer to pay out if you die relatively soon.
- Whole life insurance - Whole life insurance policies will cover you for the rest of your life. It might be more difficult for a recent heart attack sufferer to get approved for this type of policy because it involves a long term commitment with the insurer.