Life Insurance Cardiomyopathy.
In this article, we wanted to take a moment and try and answer some of the most common questions we get from folks applying for life insurance after having been diagnosed with Cardiomyopathy.
- Can I qualify for life insurance if I have been diagnosed with Cardiomyopathy?
- Why do life insurance companies care if I have been diagnosed with Cardiomyopathy?
- What kind of information will the insurance companies ask me or be interested in?
- What “rate” can I qualify for?
- What can I do to help ensure that I get the “best life insurance” for me?
So, without further ado, let’s dive right in!
Can I qualify for life insurance if I have been diagnosed with Cardiomyopathy?
Yes, individuals who have been diagnosed with Cardiomyopathy can and often will be able to qualify for a traditional term or whole life insurance policy. The problem is, that because Cardiomyopathy is a disease of the heart muscle, most (if not all) of the top rated life insurance companies are going to want to know a lot more about this pre-existing medical condition prior to making any definitive decisions about an individual’s life insurance application after they have been diagnosed with Cardiomyopathy.
It’s also why…
Even though it may be theoretically possible to qualify for a no medical exam term life insurance policy, most folks who have been diagnosed with Cardiomyopathy will fair a much better chance at being able to qualify for a fully underwritten (exam required) term life insurance policy than a policy which won’t require one to take an exam.
Why do life insurance companies care if I have been diagnosed with Cardiomyopathy?
Any time an individual has been diagnosed with a pre-existing medical condition having to do with the heart regardless of how “serious” or “minor” it may be, you can bet that most (if not all) life insurance underwriters are going to want to know more about it before they will be willing to make any kind of decision about an individual’s life insurance application.
This is particularly true…
When we’re talking about a pre-existing cardiac condition which is defined as a disease of the heart muscle itself which ultimately makes it more difficult for one’s heart to pump blood to the rest of the body.
Just to complicate matter even further, it’s important to point out that there are actually several different “types” of cardiomyopathy that an individual may suffer from which is yet one more thing that a life insurance underwriter will be interested in learning more about.
Types of Cardiomyopathy:
- Dilated Cardiomyopathy (DCM):
- With dilated cardiomyopathy (DCM), what you’re going to find is that the diseased heart muscle has become too thin. As a result, the left ventricle will be formed to work harder and will thus become enlarged or “dilated”. This then prevents the heart from being able to pump efficiently, thereby reducing the amount of blood that is able to be pumped throughout the body.
- Hypertrophic Cardiomyopathy (HCM) or Hypertrophic Obstructive Cardiomyopathy (HOCM):
- With hypertrophic cardiomyopathy (HCM) or hypertrophic obstructive cardiomyopathy (HOCM) is a condition where instead of “thinning” the heart muscle actually begins to thicken. This thickening will typically occur in the lower left ventricle, the posterior wall, the apex of the heart or any or all of the above! As a result, what you’ll generally find with individuals suffering form this condition is that the “thickening” makes it difficult for blood to flow in and out of the heart, particularly during times of exertion.
- Restrictive Cardiomyopathy (RCM):
- With restrictive cardiomyopathy (RCM) the heart muscle actually become rigid and/or inflexible. As a result, the heart may be able to contract or squeeze normally, but then has difficultly relaxing causing all sorts of potential problems including a variety of different types of arrhythmias and/or symptoms of heart failure.
- Left Ventricular Non-compaction (LVNC):
- Now with left ventricular non-compact (LVNC) cardiomyopathy what you’re going to find is that instead of a “thickening” or “thinning” of the cardiac wall, what occurs is that “pieces” or “bundles” of cardiac muscle called trabeculations extend off the cardiac call into one’s left ventricle which causes the heart to function less efficiently.
- Arrhythmogenic Right Ventricular Dysplasia (ARVD):
- Last but not least, we also have arrhythmogenic right ventricular dysplasia (ARVD) which is a rare “type” of cardiomyopathy which is caused when muscle tissue within the right ventricle dies and is replaced by scar tissue.
Before anyone gets too upset or beings complaining about the simplicity of our definitions that we’re using here, it’s important to understand that we here at IBUSA aren’t medical experts of doctors. All we are is a bunch of life insurance agents who just happen to be really good at helping folks with pre-existing medical conditions like the one’s described above find and qualify for coverage.
Which means that…
Because we’re not going to be the one “diagnosing” your condition, all we need to do is understand that there are differences between these different pre-existing medical conditions and those differences are going to affect how a life insurance underwriter is going to consider you as a potential “risk”. The good news is, that despite how simply our definitions of these disease may be, this is something that we actually have down pat!
Which is why…
When we are approached by an individual who has been diagnosed with any of these “kinds” of conditions, we’re going to know right away what questions a life insurance underwriter is going to want to know the answers too before he or she will be willing to make any kind of decision about the outcome of your life insurance application.
What kind of information will the insurance companies ask me or be interested in?
Common questions you’ll likely be asked may include:
- When were you first diagnosed with cardiomyopathy?
- Who diagnosed your cardiomyopathy?
- What kind of cardiomyopathy have you been diagnosed with?
- Dilated Cardiomyopathy (DCM)?
- Hypertrophic Cardiomyopathy (HCM) or Hypertrophic Obstructive Cardiomyopathy (HOCM)?
- Restrictive Cardiomyopathy (RCM)?
- Left Ventricular Non-compaction (LVNC)?
- Arrhythmogenic Right Ventricular Dysplasia (ARVD)?
- What symptoms (if any) led to your diagnoses?
- What treatment options have you received?
- Surgical procedures?
- Are you currently suffering from symptoms now?
- Have you been diagnosed with any other pre-existing medical conditions?
- Have you ever suffered from a heart attack or stroke?
- In the past 2 years have you been hospitalized for any reason?
- In the past 12 months, have you used any tobacco or nicotine products?
- Are you currently working now?
- In the past 12 months, have you applied for or received any form of disability benefits?
What “rate” can I qualify for?
Now as one can, there are a lot of factors that can come into play when trying to determine what kind of “rate” an individual may or may not be able to qualify for. This is why, it’s pretty much impossible to know what “kind” or rate that you might be able to qualify for without first speaking with you for a few moments.
That said however…
There are few “assumptions” that we can make about individuals who have been diagnosed with cardiomyopathy which will generally hold true. Assumptions such as if an individual is able to qualify for a tradition term or whole life insurance policy it’s safe to say that they will only be able to qualify for a “high-risk” category so it’s very unlikely that they will be able to qualify for a Standard or better rate.
One’s chances at being able to qualify for a traditional term or whole life insurance policy will be much higher in cases where an individual is first diagnosed with cardiomyopathy after the age of 40, and aren’t currently receiving any kind of disability benefits. Beyond that, there really isn’t much else we can infer simply by knowing that an individual has been diagnosed with cardiomyopathy!
The good news is…
That regardless of your situation, we here at IBUSA can help because we have tons of experience helping folks with all sorts of pre-existing medical conditions like yours and are committed to helping all of our clients find the “best” life insurance policy that they can qualify for. Which brings us to the last topic that we wanted to take a moment and discuss which is…
What can I do to help ensure that I get the “best life insurance” for me?
In our experience here at IBUSA, what we have found that usually the folks who seem to find the “best” life insurance policy for them are those that:
- Take their time reviewing their options.
- Ask a lot of questions.
And seek out those life insurance agents who not only have experience working with individuals who have been diagnosed with a wide variety of pre-existing medical conditions, but also have access to dozens of different life insurance companies so that when it comes time to helping a more “challenging” case, they don’t have to rely on a…
“One size fits all approach!”
The good news is that this is exactly what you’re going to find here at IBUSA!
Now will we be able to help out everyone who has been previously diagnosed with Cardiomyopathy?
No, probably not. But what we can tell you is that in addition to offering a wide variety of different term and whole life insurance policies, IBUSA has also worked very hard to establish relationships with many of the Best Final Expense Insurance Companies as well so that in the event that someone isn’t able to qualify for a traditional life insurance policy, chances are there may be some other “type” of product that you CAN qualify for.
So, if you’re ready to see what options might be available to you, just give us a call!