If you need a life insurance policy and you are one of many Americans with a pacemaker, we can be a great resource to you. Securing life insurance with a pacemaker is very possible under most circumstances. Even if another carrier has denied you coverage, there’s a great chance we can still help.
Depending on your full medical history as it pertains to your heart, you could be eligible for coverage in a variety of ways.
As recent technology has made the procedure and use of a pacemaker much more efficient, we are beginning to see a lot of very favorable approvals in the life insurance industry. Maybe we can help you, too.
To learn more about how having a pacemaker affects your ability to qualify for a traditionally underwritten policy, continue reading below. We’ll discuss possible outcomes, ratings, and even tips to get you through the process smoothly.
The medical industry has made leaps and bounds in the past years in regards to heart health. Many heart conditions can be insured which used to be declines by all major insurance carriers. Today, getting life insurance with a pacemaker is not only possible, but it can be affordable, too. The barriers to entry are getting less and less, and we’re here to tell you what you can do in order to get approved.
It goes without saying a heart condition affects life insurance because a severe heart malfunction can decrease life expectancy if gone untreated. Even with treatment, nothing is guaranteed. The American Heart Association give us plenty of information on how a pacemaker affects your daily life. Here is what it does:
A pacemaker is a small unit that helps your heart beat more regularly. It does this with a small electric stimulation that helps control your heartbeat. Your doctor puts the pacemaker under the skin on your chest, just under your collarbone. It’s hooked up to your heart with tiny wires.
You may need a pacemaker to keep your heart beating properly. This helps your body get the blood, oxygen and food that it needs. Some people just need a pacemaker for a short time (like after a heart attack) and may use a kind that’s outside the skin. The battery unit for this type can be worn on a belt.
As you can see, a pacemaker has a wide variety of uses, stemming from a simple irregular heart beat up to helping a heart attack victim recover. This is important to know because simply having a pacemaker isn’t the only thing a life insurance underwriter needs to know. The reason it’s been put there in the first case is sometimes of much greater importance. Even if it was only there temporarily, the underlying cause is key.
If you want to save the most money you can, you’ll need to try to go with a traditional life insurance policy, meaning you’ll need to go through the full underwriting process. A guaranteed or graded insurance policy is available for anyone over 40, but should be a last resort. A fully underwritten policy means lab work, medical records being shared, motor vehicle and even criminal history searches, and finally a prescription database search.
There are some very basic things which much be in place in order to apply:
Without these, there are too many unknown variables which won’t allow an underwriter to accurately assess your particular situation. In these instances, you’ll be required to wait.
If you meet these qualifications, you can proceed with an application. At this point, the main cause of WHY a pacemaker was required becomes the catalyst to your specific follow up questions.
The best case scenario you can expect is a Standard to Mild Sub-Standard table rating. This means you can get a policy, but there will be no discounts or even a slight increase in your premium to secure a policy. The worst cased scenario would be a decline, where you would then need to proceed towards guaranteed issue policies. We can help with those as well, but only if we deem them as last resort as they are more expensive.
If you need life insurance with a pacemaker as your primary concern, contact us and we’ll be happy to assist you. We deal with many types of health conditions and other high risk life insurance types, and heart conditions are one we come across quite often. We’ll do our best to give you accurate quotes and honest feedback.