Life Insurance After Heart Attack
You might not think affordable life insurance after a heart attack is possible but it is.
There are several highly-rated insurance carriers offering life insurance for heart attack victims. And our independent agency is here to help you find your best option.
As long as you’re between ages 50 and 85, you cannot be turned down due to your health. Your acceptance is guaranteed.
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Why Heart Attack Victims Need Life Insurance
Suffering a heart attack takes a significant toll on your health. It puts you at risk for further cardiac events and lowers your life expectancy.
The American Heart Association states that: 20 percent of patients age 45 and older will have another heart attack within five years of their first.
One study conducted at the University of Cambridge estimates that a heart attack will lower life expectancy by about a decade.
None of us know how long we have to live. However, after going through a serious health event, it may be time to prepare for tomorrow’s uncertainties by implementing a plan today. Life insurance helps reduce or eliminate end-of-life expenses. It provides financial protection so that no one suffers a financial burden after you’re gone.
A heart attack is a condition that occurs as a result of heart disease. However, not all people with heart disease will suffer a heart attack.
Did you know? Heart disease is the leading cause of death for both men and women in the United States.
According to the CDC, over 600,000 people die of heart disease in the United States every year. In other words, one in every four deaths is due to some form of heart disease. Coronary artery disease is the most common type of heart disease, killing roughly 370,000 people. That’s 1000 people every day!
Heart Attacks Bring financial Uncertainty
Loss of Productivity – Recovering from a heart attack is not easy. Many people have to prolong periods away from work. Some individuals won’t be able to return to work due to the severity of post-heart attack symptoms. If you’re approaching retirement, this loss of income can have significant implications.
Medical Bills – Heart attacks are not cheap. Out-of-pocket costs for heart attack treatment can easily reach $10,000 and above. Ongoing therapy for recovery and further heart attack prevention can also add up to many thousands of dollars.
Funeral Cost – Though we all will face funeral costs eventually, heart attack victims are likely to encounter this expense sooner. Do you have the funds set aside to pay for your end-of-life expenses? If you don’t, will your family have to take on this financial burden?
It’s hard to predict the financial impacts of having a heart attack entirely. However, one thing is sure it’s not going to be cheap. A senior life insurance policy provides guaranteed funds so that your family is protected regardless of what happens.
Life Insurance Options For Heart Attack Victims
Depending on the specifics of your heart-attack and other aspects of your health, multiple policies may be available.
Your answers to the following questions will determine which policy type you’re eligible for:
- How much time has laps since your heart attack?
- What was your treatment protocol?
- Do you suffer from any other health conditions?
Final Expense Life Insurance – If it’s been over two years since your heart attack and you do not have other health complications, it’s possible to qualify for final expense life insurance. These policies offer low rates, and coverage amounts up to $50,000. There are no health exams, just health questions regarding your event.
Guaranteed Acceptance Life Insurance – If it’s been less than two years since your event, or if you have further health complications, guaranteed acceptance life insurance will be your only option. These types of policies have no medical exams or any health questions whatsoever. As long as you’re between ages 50 and 85, your acceptance is guaranteed. Guaranteed acceptance policies provide up to $30,000 in coverage.
These two types of policies are typically the only options available for individuals over age 50 seeking life insurance with pre-existing medical conditions.
Life Insurance Rates After A Heart Attack
Your premium rates are affected by multiple factors.
Your age, health, gender, zip code, state of residence, policy size, and policy type all contribute to the cost of your policy. However, these three factors affect your premium rates the most.
Your age – Rates increase with you as you age. And not just by the year. Every month you wait to get your policy, the higher the rates.
Coverage amount – Larger policies cost more, smaller ones cost less. How much life insurance do I need? We’ll help you match your coverage needs with your budget, so you only pay for what you need.
Carrier – Rates vary significantly between insurance carriers. It’s critical that your work with an independent agency to shop and compare all available options if you’re looking for the lowest cost policy.
Working with Our Independent Agency
Shopping for affordable life insurance after a heart attack can be challenging. Those who go about it alone often end up paying more than they have to, or worse, completely uninsured.
Our independent agency helps you shop and compare life insurance companies nationwide.
We’ve helped thousands of people secure the funds they need to protect their families. We’d love to help you too!
Our services are free. And there’s never any obligation when speaking with an agent.
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