Life Insurance with an Arrhythmia.
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 they have been diagnosed with an Arrhythmia.
With that said…
It is important to understand that there are approximately 16 different “types” of arrhythmias an individual might be diagnosed with so in this article, we’re going to try and keep things a bit “vague” and try to focus just on what “most” of the top life insurance companies are going to care about.
This approach probably won’t answer everyone’s question about applying for a life insurance policy after they have been diagnosed with an Arrhythmia, but we feel it’s a good place to start and allows us to invite those with additional questions to either visit our pre-existing medical conditions page or just give us a call directly.
Questions that will be addressed will include:
- Can I qualify for life insurance if I have been diagnosed with an Arrhythmia?
- Why do life insurance companies care if I have been diagnosed with an Arrhythmia?
- 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 an Arrhythmia?
Yes, many individuals who have been diagnosed with an Arrhythmia can and often will be able to qualify for a traditional term or whole life insurance policy. In fact, many individuals may even be able to qualify for a No Medical Exam Term Life Insurance Policy at a Preferred Plus rate!
This is because…
It’s fair to say that not all “arrhythmias” are created equally! Sure, some may pose a serious threat to an individual but others may be so minor that they can potentially go undetected for years or in some cases throughout the entire life of the “affected” individual!
Why do life insurance companies care if I have been diagnosed with an Arrhythmia?
Any time an individual is diagnosed with some “type” of pre-existing medical condition which has to do with one’s heart, you can bet that a life insurance company is going to be “somewhat” interested in knowing exactly what that condition is. And in the case of being diagnosed with an Arrythmia, this is exactly what we see!
Or unfortunately, depending on one’s point of view, being diagnosed with an Arrythmia is a very common thing which is why most life insurance underwriters are going to be very familiar with these “types” of pre-existing medical conditions.
They’re also going to know exactly what they are looking for in order to “spot” those who may be “seriously” ill for those who should be able to qualify for a traditional if life insurance policy without any major “complications”.
To get a better understanding…
Of what a typical life insurance underwriter will be looking for, it makes sense to first get a better idea of exactly what an Arrythmia is, as well as understand what some of the more serious complications of these “types” of conditions can cause someone in “extreme” cases.
The term arrythmia is used to define a wide range of conditions which cause the improper beating of the heart. This irregular heartbeat can either be too fast (tachycardia) or too slow (bradycardia) or could actually be due to some type of “irregularity” whereby someone may experience an “extra-beat” such as in cases like Bigeminy or premature ventricular contraction (PVC).
Common symptoms one might experience may include:
- Chest pain,
- Fainting or feeling lightheaded,
- Shortness of breath,
- A “fluttering” of the chest,
- Etc, etc…
And while at first glance, most of these symptoms may not appear too serious, it’s important to understand that there are some very serious consequences that can arise with individuals who leave their condition untreated. Consequences such as an increased risk of a heart attack and/or stroke which can lead to death.
What kind of information will the insurance companies ask me or be interested in?
Common questions you’ll likely be asked may include:
- When where you first diagnosed with Arrythmia?
- Who diagnosed with your Arrythmia? A general practitioner or a cardiologist?
- What “type” of an arrythmia have you been diagnosed with?
- What symptoms (if any) led you to become diagnosed with an arrythmia?
- Are you currently treating your arrythmia with any prescription medications?
- If so, have any of those medications changed in any way within the past 12 months?
- Have you received any surgical procedures or been told you might need to receive a surgical procedure in the future to treat your arrythmia?
- Have you been diagnosed with any other cardiovascular diseases?
- Have you ever suffered from a heart attack or stroke?
- Have any of your immediate family members (mother, father, brother or sister) ever been diagnose with heart disease?
- Have any of your immediate family members (mother, father, brother or sister) ever suffered from a heart attack or stroke?
- In the past 2 years have you been admitted to a hospital for any reason?
- What is your current height and weight?
- 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?
Now at this point…
We usually like to take a moment and remind folks that nobody here at IBUSA as any kind of “official” medical training and we’re certainly not 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 this one, find and qualify for the life insurance coverage that they are looking for.
Not so great if you’re looking for answers to any specific medical questions. In cases like these, we would recommend that you contact a true medical professional who has the training to help. For everyone else, you’re in luck because now we’re going to get into some of the “nitty gritty” about what you may or may not be able to qualify for.
What “rate” can I qualify for?
As you can see from above, there are a lot of factors that can “potentially” affect the outcome of one’s life insurance application once it become apparent that the applicant has been diagnosed with some “kind” of arrythmia.
This is why…
It’s pretty much impossible to know for sure what kind of “rate” you might be able to qualify for without actually speaking with you particularly because there are some many “kinds” of arrythmias one might be diagnosed with, each with their only potential health risks.
That said however…
What we can tell you is that for the vast majority of individuals who are diagnosed with an arrythmia will usually be able to qualify for a traditional term or whole life insurance policy whether that be at a Standard or better rate, or at a “high-risk” rating.
For those who have been diagnosed with an arrythmia but aren’t suffering from any kind of symptoms directly related to it, there is a good chance that the fact that you have been diagnosed with an arrythmia isn’t going to play any kind of role in the outcome of your life insurance application. Or in other words, what ever “rate” you would have been able to qualify for PRIOR to being diagnosed with an arrythmia should be the same “rate” that you will be able to qualify for AFTER having been diagnosed with an arrythmia.
Which brings us to the last topic that we wanted to discuss here in this article 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 works best for folks who have been diagnosed with a pre-existing medical condition where the “severity” of the condition is often “subjective” is for the applicant to make sure that they first find a true-life insurance profession who will work as an advocate for you.
Such an agent…
Will not only help guide you through the application process but also be perfectly “frank” with you about what options may or may not be possible for you.
You’ll also want to make sure that the very same agent you have chosen has access to dozens of different life insurance companies because after all, it really doesn’t matter how “great” of a life insurance agent you might have if they don’t have access to the “best” life insurance policy for you! Now does it?
You’ll want to make sure that you’re completely honest with your life insurance agent prior to applying for coverage. By doing so, you will be helping him or her narrow down what options might be the “best”
Now will we be able to help out everyone who has been previously diagnosed with an Arrythmia?
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 Top 10 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!