Heart attacks can be quite sudden, and those who have had a heart attack can agree that the experience can be a frightening and alarming one. Perhaps this is one reason why many people who experience a heart attack begin thinking about acquiring life insurance for themselves to be sure that they can adequately protect their loved ones in the future. But if you have had a heart attack and are thinking of getting life insurance, what are your chances? Better yet, are you eligible? The answers are yes and yes. But you need to know what insurance companies are looking for when it comes to applicants who have suffered from heart attacks. Here are the essential factors insurance companies think about if you want life insurance after a heart attack.
What you should remember
Although you may be eligible to get life insurance even after having a heart attack, your choice in insurance companies may be more limited than other individuals. Also, since you have already had a heart attack, insurance companies may well consider you a higher risk individual, so your premiums may also be higher compared to a person with good health. Luckily for you, there are some insurance firms which assess applicants who have suffered a heart attack individually – which means that you can be quoted depending on your history instead of being ‘stereotyped’ or ‘classed.’
The essential factors
Most insurance firms will often look at your age when you apply for life insurance after a heart attack. Fundamentally speaking, if you are old, you may have high rates. But one notable aspect about this is that if your heart attack occurred when you were already between 40 and 60, your age might likely end up being in your favor. Some insurance providers even offer better rates to people who have had a heart attack in their 70s. The reason is simple: people who have had a heart attack in their 30s or even younger may have more medical issues in the future, so many companies are not willing to tackle this risk.
The seriousness of the heart attack
The seriousness of your heart attack is also a contributing factor. If you had a severe heart attack, then it follows that it will be more difficult to get approval. A heart attack occurs because of a blockage in a vessel. If there are several blockages, you are at a higher risk compared to someone who only has one blockage in a small vessel.
Another factor insurance companies look at is your build. Many victims of heart attacks are not living an ideal healthy lifestyle, so heart disease is often seen as a disease of someone’s lifestyle as well. So if you have a reasonably healthy build and have no prior history of illness or serious medical conditions, you have a higher chance of approval compared to someone who is obese or overweight.