Life Insurance after heart attack
Usually when the person is taking life insurance policy, there are some factors that are considered to determine the conditions under which the policy will be written. Among these factors most often used ones are health condition and age of the person. It is only natural as for insurance company the higher the risk that the claim will be made the more unwilling they will be to insure the person.
Thus, if the person’s health is not in the best condition the chances of getting insurance policy under favourable conditions are much lower. Heart diseases are one of the most common illnesses. Though usually people do not like to think about life insurance as for some people this is the same as thinking about the possibility of death most people start to think about getting a life insurance cover after a serious illness that can repeat. Especially after suffering life threatening event such as heart attack an individual starts to think that he should get life insurance as in case of his death it can lessen the burden either financially or psychologically for his family.
Of course, it is always best to take care of life insurance when the person is healthy just as precaution if something happens, either it would be an accident or an illness. However, if the person starts to think about having life insurance only after something serious has happened to him, there are high risks that he is not going to get a favourable proposal from the insurance company.
One of the diseases that can strike unexpectedly is heart illness and especially heart attack. Heart attacks or else known as myocardia infarcts have been increasing in numbers over past years. About 146,000 of England residents have heart attacks each year. Thus, it is one of the most common illnesses in UK.
Getting life insurance
It is not a secret that after having one heart attack the chances of getting the second one increases considerably. Thus, the necessity for having a life insurance is also much higher. However, many may wonder that having in their medical history a heart attack can cause the insurance company decline request for life insurance or offer unaffordable conditions.
However, it may not be the case as even with having a heart attack it can be possible to get a life insurance with premiums that are below average. Especially, if the person is not sick with other illnesses, is younger than 40 – 45 years old and does not smoke. However, if the individual is also sick with some other illnesses such as diabetes or similar diseases then most likely the insurance company will either charge higher premiums or in some extreme cases may even decline the application for getting life insurance.
Moreover, if the person is smoking even after suffering a heart attack it also has great impact on having life insurance as many providers see smoking as a high risk factor for having another heart attack. Good news is that there are many life insurance providers. They usually may not treat the similar cases the same as some providers are willing to take higher risk than others.
Tips and strategies to get life insurance
Many websites offer tips how to get insurance policy after having a heart attack. Most often the proposal to wait for one or two years after the hart attack is used. Though, it may seem logical as if the person’s health condition gets better, the person is strictly following the routine arranged by the doctor, his life expectancy increases and life insurance providers are more willing not to reject a request for life insurance.
However, even though it might seem a good idea, it must not be forgotten that the highest risk of having another heart attack is in the two first years. Thus, if the person decides to risk and not be insured for a while as insurance policy may seem too expensive, then there is a danger for a person to get sick again. After a repeated heart attack it is very unlikely that insurance companies even consider insuring him at all or even if some of them do, then the premiums will soar and be very high.
So, it may seem a good idea to have insurance policy for some time at a higher rates and then renew it at considerably lower rates. If such of strategy is affordable it may be the best choice as it is dangerous not to be insured.
Moreover, some of insurance providers can agree with such pattern even while patient is still undergoing his treatment. They can arrange level term insurance when in the beginning higher rates are paid as the risk of person dying is higher and those premiums decrease as the time passes and the person gets healthier.