Atrial fibrillation (AFib) produces an irregular and frequently fast heartbeat. It raises the risk of stroke, heart failure, and other issues. whether you have AFib, you may question whether you may acquire life insurance to safeguard your family.
Life insurance with atrial fibrillation is possible. Your condition’s severity, age, and other health criteria will determine coverage cost and availability.
This post will explain how life insurance firms analyze AFib applications, what variables impact your acceptance prospects, and what measures you may take to get life insurance with AFib.
Life Insurance With Atrial Fibrillation
Life insurance is a contract between you and an insurance company that pays a lump sum of money to your beneficiaries when you die. The amount of money and the duration of the contract depend on the type of policy you choose. There are two main types of life insurance: term and permanent.
Term life insurance provides coverage for a specific period of time, usually 10, 20, or 30 years. If you die within the term, your beneficiaries receive the death benefit. If you outlive the term, the policy expires and you get nothing. Term life insurance is usually cheaper than permanent life insurance.
Permanent life insurance provides coverage for your entire life, as long as you pay the premiums. It also has a cash value component that grows over time and can be accessed through loans or withdrawals. Permanent life insurance is more expensive than term life insurance.
Life insurance companies use a process called underwriting to assess your risk level and determine your eligibility and rates for coverage. Underwriting involves reviewing your medical history, lifestyle, occupation, hobbies, family history, and other factors that may affect your life expectancy.
If you have AFib, you will likely be considered a high-risk applicant by most life insurance companies. This means that you may face higher premiums, lower coverage amounts, or even denial of coverage. However, not all companies treat AFib the same way. Some companies may be more lenient and offer better rates than others.
Factors Affecting Life Insurance Approval
When applying for life insurance with AFib, there are several factors that will influence your approval chances and rates. These include:
1. Severity and stability of AFib
There are different types of AFib based on how often and how long it occurs. These are:
- Paroxysmal AFib: This is when AFib episodes last less than seven days and stop on their own.
- Persistent AFib: This is when AFib episodes last more than seven days or require treatment to stop.
- Long-standing persistent AFib: This is when AFib episodes last more than 12 months.
- Permanent AFib: This is when AFib is present all the time and cannot be stopped by treatment.
Generally, the more severe and frequent your AFib episodes are, the higher your risk level and the lower your approval chances are. Life insurance companies prefer applicants who have paroxysmal or persistent AFib that is well-controlled with medication or other treatments.
2. Underlying Health Conditions
AFib can be caused by or associated with other health conditions that may increase your mortality risk. These include:
- High blood pressure
- Heart disease
- Thyroid problems
- Sleep apnea
- Alcohol abuse
If you have any of these conditions along with AFib, you will likely face higher premiums or lower coverage amounts. Life insurance companies prefer applicants who have no other major health issues or who manage them well with medication or lifestyle changes.
3. Treatment and Medication
The type of treatment and medication you use for AFib can also affect your life insurance approval and rates. Some common treatments and medications for AFib are:
- Rate control drugs: These are drugs that slow down your heart rate to prevent it from beating too fast.
- Rhythm control drugs: These are drugs that restore your normal heart rhythm or prevent it from becoming irregular.
- Anticoagulant drugs: These are drugs that prevent blood clots from forming in your heart or elsewhere in your body.
- Electric cardioversion: This is a procedure that uses electric shocks to reset your heart rhythm.
- Catheter ablation: This is a procedure that uses heat or cold to destroy the abnormal tissue in your heart that causes AFib.
- Pacemaker: This is a device that is implanted in your chest to regulate your heart rhythm.
- Surgery: This is a procedure that involves making incisions in your heart to create scar tissue that blocks the abnormal electrical signals that cause AFib.
Generally, the more invasive and risky your treatment or medication is, the higher your risk level and the lower your approval chances are. Life insurance companies prefer applicants who use rate control drugs, rhythm control drugs, or anticoagulant drugs to manage their AFib. Electric cardioversion, catheter ablation, pacemaker, or surgery may be acceptable if they are successful and have no complications.
Steps to Obtain Life Insurance With AFib
If you have AFib and want to get life insurance, here are some steps you can take to improve your chances of getting approved and getting a good rate:
1. Gather Medical Records and Documentation
Before applying for life insurance, you should gather all the relevant medical records and documentation related to your AFib condition. These include:
- Diagnosis date and type of AFib
- Frequency and duration of AFib episodes
- Treatment and medication history and current regimen
- Results of tests such as electrocardiogram (ECG), echocardiogram, or blood tests
- Letters from your doctor or cardiologist explaining your condition and prognosis
Having these documents ready will help you provide accurate and detailed information to the life insurance company and speed up the underwriting process.
2. Work with an Experienced Insurance Agent
Applying for life insurance with AFib can be challenging and confusing. That’s why it’s advisable to work with an experienced insurance agent who can guide you through the process and help you find the best policy for your needs and budget. An insurance agent can:
- Compare quotes from different life insurance companies that specialize in high-risk cases
- Negotiate with underwriters on your behalf to get you the best possible rates
- Advise you on how to prepare for a medical exam or interview if required
- Answer any questions or concerns you may have along the way
3. Consider Specialized Insurance Companies
If you have trouble getting approved or getting a reasonable rate from traditional life insurance companies, you may want to consider specialized insurance companies that cater to high-risk applicants. These include:
- Guaranteed issue life insurance: This is a type of life insurance that does not require any medical questions or exams. Anyone can get approved regardless of their health condition. However, this type of life insurance has very low coverage amounts, very high premiums, and a graded death benefit. This means that if you die within the first two or three years of the policy, your beneficiaries will only receive a refund of your premiums plus interest, not the full death benefit.
- Simplified issue life insurance: This is a type of life insurance that requires only a few medical questions but no exams. You may get approved if you have mild or moderate AFib that is well-controlled with medication. However, this type of life insurance also has low coverage amounts, high premiums, and a graded death benefit.
- No exam life insurance: This is a type of life insurance that does not require a medical exam but may require some medical questions or access to your medical records. You may get approved if you have mild or moderate AFib that is well-controlled with medication or treatment. This type of life insurance has higher coverage amounts and lower premiums than a guaranteed issue or simplified issue life insurance, but still higher than traditional life insurance.
4. Be Transparent About Your Condition
When applying for life insurance with AFib, it’s important to be honest and transparent about your condition. Do not lie, omit, or exaggerate any information related to your AFib or other health factors. If the life insurance company finds out that you were dishonest, they may deny your claim, cancel your policy, or sue you for fraud.
Atrial fibrillation life insurance is available but difficult. Depending on your illness, age, and other health considerations, your rates, coverage, or rejection may increase. Following the procedures above may increase your chances of approval and a favorable rate.
Contact us now for assistance choosing a life insurance policy. We specialize in high-risk life insurance and can help you compare rates from AFib-specific firms. We can help you prepare for and prevent underwriting mistakes.
Protect your family with life insurance despite AFib. Our tool provides free quotations now.