5 Tips for Finding Online Life Insurance Quotes If You Have A Bad Heart Condition

heart.attackLife insurance is affordable, unless you have health issues that will make an insurance carrier uncomfortable. Any diagnosis of a bad heart condition that may shorten your natural life span are a major cause for concern to life insurance companies. If your issue is serious enough, the carrier might simply decline your application altogether.

Thankfully, alternative forms of insurance exist from many companies to serve the needs of people who cannot obtain policies by traditional means. Here are 5 things to consider if you are looking for online life insurance quotes while having a heart condition:

  1. The Carriers’ Concerns. Health problems related to your cardiovascular system are of the utmost concern for life insurance companies. The statistical risk of early death is significantly greater in people with heart problems, including uncontrolled blood pressure, cholesterol and diabetes.
  2. It is possible with No Exam Required. People who are denied policies from traditional life insurance companies usually turn to companies with products that do not require in-depth underwriting or medical examinations. These “no exam” products are formally referred to as “guaranteed issue” policies. Most guaranteed issue life insurance products are specifically created for and marketed to people with health issues.
  3. Graded Benefit Policies. Graded benefit policies, also called “tiered policies,” are usually an available type of guaranteed issue product. To protect the insurance company from paying out significant sums to money to people who buy policies knowing their death is imminent, the tiered policies have a contract that notches up the death benefit every year until finally leveling off and remaining stable.
  4. Accident-Only Policies. Several companies have stand-alone accident life insurance products, which are often attractive to people with health problems that interfere with obtaining coverage through traditional means. Your beneficiaries will only be paid the specified sum if your death is the direct result of an accident, and not medical issues.
  5. You Will Pay For It. No exam, guaranteed issue life insurance policies for people with health problems are evaluated, applied for and issued very quickly. Unfortunately, since the carrier is not provided with enough information to properly underwrite applicants, policies are issued with the assumption that poor health is an imminent concern, which drastically increases prices.

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