Getting Burial Insurance After Having Heart Attack
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If you’re wondering whether it’s possible to obtain a burial insurance policy after having undergone a previous heart attack, be assured, the answer’s a resounding YES.
However, not all carriers will approve your policy application without a waiting period. Without experienced help, you may be challenged to find the right insurance company, which accepts applicants with heart attack histories and does so at competitive rates.
Affordable burial insurance coverage can be obtained by most survivors. Since medical treatments are advanced enough to enable a decent life expectancy post-heart attacks, many companies are willing to provide this coverage.
In fact, if your heart attack had taken place quite a while ago, plenty of choices are available for you to take advantage of, to buy burial insurance.
Because it's vital to find out which burial carrier has favorable terms for your condition, we at NODLB.com are familiar with most all of the so called "final expense" companies. The result being that we can recommend the carrier best suited to your needs.
The following article discusses the terms to expect after an heart attack & how to obtain the best final expense policy available.
HEART ATTACKS AND WHY BURIAL INSURANCE FIRMS CARE ABOUT THEM
Also termed myocardial infarctions, heart attacks occur when blood supply to the heart get blocked, leading to heart muscle death.
Plaque buildup or atherosclerosis is among the leading heart attack causes, preventing blood from reaching heart muscles. Torn blood vessels or blood clots can also cause it.
Insurance firms are aware that heart attacks are quite frequent in the United States, with one happening every forty seconds.
Heart disease is the leading killer in the USA, accounting for over 33% of all deaths.
As per CDC estimates, over 730000 heart attacks occur annually. While most recover from their first attacks without much damage, over twenty percent of patients aged 45+ may fall prey to another one within 5 years.
UNDERWRITING QUESTIONS ASKED IF YOU ARE A HEART ATTACK SURVIVOR
We will require quite a bit of information if your burial insurance policy application comes after A heart attack. This helps us learn more about your condition, enabling us to provide you a precise quote.
Questions asked would also include
- Number of heart attacks to date
- Date of previous heart attack
- Details of medications which were taken for treating your condition
- Treatments that were suggested to you
- Whether you’ve been using Nitro pills in the last 2 years
- Whether you have experienced chest pains after your heart attack
- Whether your heart attack necessitated a stent placement or heart bypass or any other surgery
- Whether you suffer from health conditions apart from heart disease
We will require honest answers to these questions. More data that you can provide us with, the higher your odds of gaining affordable coverage policies.
UNDERWRITING BURIAL INSURANCE POST-HEART ATTACK
Companies will often require some information to be given via the application. Health status will be verified by performing a prescription history inspection.
Common questions include
- Have you been treated or diagnosed with a heart attack during the past twelve months?
- And, have you been treated or diagnosed with a heart attack during the past two years?
Most insurance firms require details regarding heart attacks in the past 24 months. Only a few use a look back policy limited to 12 months.
VERIFICATION OF PRESCRIPTION HISTORY
Most firms will perform a prescription history verification to know which medications you’ve taken for your heart attack.
Certain drugs are used only for heart attack patients. Prescriptions for Plavix, Coumadin, and Warfarin, which are blood thinners, are likely to indicate a history of heart attacks.
Your medication history will be searched to find out whether you’ve been prescribed the aforementioned medications previously. If it returns a positive, that confirms you’ve experienced a heart attack.
Common medications other than simple aspirin include;
- ACE inhibitors
- Pain Relievers
- Blood Thinners
- Antiplatelet agents
Blood thinner usage history can dampen your application prospects since a few companies have restrictions against those on blood thinners.
Those with a diagnosis for angina or nitroglycerin usage will face difficulties as well. Several companies even decline your application instantly if you’re on nitroglycerine. But other companies will provide insurance, even if you are on blood thinners.
BURIAL INSURANCE POST HEART ATTACK
It is only after undergoing a heart attack that people realize the value of having life insurance. People believe life insurance approval isn’t possible after undergoing a heart attack. But this is far from the truth. While you can still get approved, you must take the correct steps going forward.
Time elapsed since last heart attack determines the burial insurance type you’ll be eligible for. If the heart attack occurred more than 12 months ago, you’re on safe ground. A few carriers will provide "day 1" level death benefits at the best prices.
However, those with recent heart attacks have to undergo a compulsory waiting period. Companies will not offer level day 1 plans plans for recent heart attack survivors.
However, recent heart attacks don’t eliminate you completely from burial insurance coverage. It simply cost a little more (~20%) and may have a graded benefit or a waiting period.
Remember that no medical examinations need to be taken for any of these policies. Several Guaranteed issue carriers actually cater to heart attack patients, and we, at NODLB.com, can aid you in getting insurance coverage from these companies.
What about those with a history of multiple heart attacks?
This is far more serious and poses greater risks to longevity. Since each attack damages your heart cumulatively, it carries higher risks. You may still qualify for certain burial insurance plans, albeit at higher premiums and lower death benefits.
For those with a history of multiple heart attacks or severe heart disease, guaranteed issue insurance is the sure bet.
What to do if my previous burial insurance application had been rejected?
We, at NODLB.com, can help in this case. Previous denials can negatively impact your record since it gets recorded in the MIB database. This data is accessible to life insurance agencies, which may charge higher premiums due to this.
Those who have been declined life insurance due to a heart attack history can seek help from us. We will shop your applications to different burial insurance carriers for the best offer. You can obtain guaranteed issue-based burial insurance policies which don’t require health questionnaires or medical exams. Approval is available irrespective of your current medical condition. Note that Guaranteed policies all require a waiting period before the death benefit is in force.
For those of you who’ve been denied health coverage before, approach us & we can find you the best plans available.
Smoking, burial insurance, and heart attack
Smokers usually have to pay twice the insurance premiums compared to non-smokers.
Guaranteed issue-based life insurance policies have an advantage here - Rates remain the same for both categories.
Smokers have higher heart disease risks, more instances of multiple heart attacks & premature death. Based on CDC data, overall mortality rates for smokers are 3 times higher compared to non-smokers.
BURIAL POLICY OPTIONS FOR RECENT HEART ATTACK SURVIVORS
If your heart attack came within the last 12 months, you will be faced with a waiting period. For those in this scenario who need a policy, their best bet is using a guaranteed issue policy from AIG, without any medical exams or questionnaires.
Although they cost more compared to traditional policies, they will provide requisite protection regardless of when your last heart attack was.
We recommend you apply for guaranteed issue policies now and not wait till the twelve-month waiting period is over since another heart attack could occur any minute.
Obtain your policy and wait it out till the twelve-month waiting period has passed. After this, we can aid your application for a regular plan offering level death benefits.
What if the heart attack occurred over twelve months ago?
Depending on the state you live in (different plans are offered in different states) and depending on your overall health -that is issues other than your heart- you may get lucky and qualify for day one level coverage. If not, you will be offered graded coverage.
What if your heart attack occurred over 2 years ago?
Burial insurance firms will treat you normally if your last heart attack occurred over 2 years ago. You will qualify for usual level death benefits, along with the most favorable rates.
Types of Burial Insurance for Heart Attack Survivors
First Day Coverage
This is a simple burial insurance product that provides coverage from the 1st day. Those who had their previous heart attack over twelve (and in some cases twenty four) months ago can qualify for the policy.
It’s also cheaper compared to guaranteed issue-based life insurance. It has no waiting period & beneficiaries can receive full death benefits upon the policyholder’s demise.
GUARANTEED ISSUE LIFE INSURANCE
For those whose last heart attack was less than twelve months ago, guaranteed life insurance alone is the best course of action. No questionnaires or medical examinations will be asked.
Guaranteed policies, which are expensive compared to normal policies, can be obtained irrespective of health conditions and provide ample protection. After 12 months has passed, it will be time to rewrite the policy with a level benefit at a better price. We will help you with that process by reminding you when the twelve months is up and facilitating the new application.
A guaranteed issue has a waiting period for 24 months before payouts are made for a natural death (certain GI policies will pay out in the waiting period if the death is an accident). The beneficiaries of those who pass away in their waiting period will only receive premiums along with interest.
If You Only Qualify for a Guaranteed Policy Right Now- Get it, Don't Wait!
Your health condition may turn worse at any given moment. You may also be afflicted by more health problems, requiring medications that insurance companies may find problems with. Future conditions may also prevent qualification for level death benefits.
Postponing your insurance application until the twelve-month waiting period ends isn’t wise.
Any health conditions developed now can lead to disqualification for level death benefits, causing guaranteed issues to be your last and only resort for coverage.
Obtaining insurance now can kick off waiting period instantly, with coverage for any health problems developing from now on.
If guaranteed issue policies are your only choices, apply right now and begin the waiting period.
Also, lead a healthier lifestyle as well. If health improves after your previous attack and 12 months have passed since then, we can aid your efforts to receive level death benefits at best pricing options from insurance carriers.
While this policy may be expensive compared to others, it is 100% guaranteed. No medical exams or health questionnaires are required. It is better than having no insurance at all.
HOW CAN NODLB.com HELP ME?
While finding an burial insurance plan with a history of heart attacks can be frustrating, working with independent agents like NODLB.com can make it quicker and easier. Allow us to help you and we will find you a policy that caters to all your requirements.
We’ll work alongside you to find perfect plans that fit your budget and all your requirements. Don’t waste your time scouting multiple companies, as they do not make their underwriting requirements public.
We’ll view your application against the requirements of various carriers and provide you with the most favorable price.
We have ties to many insurance firms that are rated A or better and specialize in high-risk cases like yours. We will monitor all these options to obtain the best possible rate.
Contact us at NODLB.com right away and let’s get started!