Not sure if you can get a life insurance after a heart attack?
Obtaining life insurance for heart attack victims can be quite challenging but not impossible. In all cases, an applicant has two choices: Traditional Life Insurance Plans and No Medical Life Insurance Policies.
It’s important to note that if the insured applies for a Traditional Life Insurance Plan and is declined, obtaining a Simplified Issue No Medical life insurance plan may be difficult.
We work with 20 various insurance companies to find the best insurance option for you. Find out more about your options below.
Get your quote for life insurance for heart attack victims
Examples of life insurance policies for heart attack victims
Person:
42, male, non-smoker, heart attack 3 ½ years ago, stable condition since then, Term 20 policy, $250,000 coverage
Estimated monthly rate:
$84.35
Person:
51, female, non-smoker, heart attack 5 years ago, stable condition since then, Term 10 policy, $300,000 coverage
Estimated monthly rate:
$70.74
Person:
54, female, smoker, heart attack 2 years ago, stable condition since then, Term 10 policy, $150,000 coverage
Estimated monthly rate:
$172.26
William Shung
Jack Bendahan
Different types of life insurance policies
As mentioned above, there are two major types of life insurance – Traditional Life Insurance Plans and No Medical Life Insurance Policies.
Traditional life insurance plans ask a series of health questions and usually involve the insured completing one or more medical tests. Whereas, No Medical life insurance policies can be broken down into the following two categories:
- Simplified-Issue Plans – These ask a short series of health questions and have no medical test(s). Approval usually depends on how those questions are answered.
- Guaranteed-Issue Policies – These have no medical tests, no health questions and approval is typically automatic.
Many Simplified-Issue policies are available to applicants who do have a prior history of heart disease. There is usually a question related to whether the insured has had a heart attack, but coverage is often available if the heart attack was diagnosed over two years ago and the insured has not had a change in medication. These plans are often less expensive than Guaranteed-Issue policies.
Important details of No Medical Life Insurance
Many Simplified-Issue Life insurance policies offer coverage from day one. However, Guaranteed-Issue policies have a two-year waiting period, which means that if the insured dies in the first two years by a non-accidental death, the payout is limited to a return-of-premium, plus interest.
Our insurance advisors will assist you with finding the best insurance option across more than 20 insurance companies. We look forward to hearing from you – simply complete the form above.
