Seeking life insurance with atrial fibrillation may seem potentially daunting, but we are able to make it a whole lot easier for you.  Term life insurance can be a great option in regards to price, and ease of enrollment. Other examples of life insurance coverage available are Final Expense, Indexed Universal Life, Universal Life, and Whole Life which in most cases are all permanent types of coverage.

Term Life Insurance Basics for Individuals with AFib

One of the nice things about term life insurance is the fact that most polices have rates that are locked in or fixed over the period of coverage, meaning you don’t have to worry about rates going up and coverage going down. The death benefit generally stays level over the term of the policy, which in the case of a 30 year term policy for example, if you die the first day the policy is in effect, or the last day 30 years later, the death benefit would pay out the same amount to your beneficiary. When comparing term life insurance with atrial fibrillation, the length of term is often either 10, 20, or 30 years.

How Much Life Insurance Do I Need

When determining the amount of coverage one needs, often times there can be a lot of confusion or uncertainty. Typically the four major reasons we typically see are to cover liability, replace income, pay for education, and/or to cover final expenses. With these reasons in mind it is also only natural one would want to buy cheap life insurance with atrial fibrillation. While the word “cheap” sounds like a negative word to use, let’s face it, we all want to pay the lowest price possible when making a purchase. So how do you find the right coverage for the right price? That is where LifeInsuranceWithAfib can help. Get the most affordable quotes for term life insurance after you finish reading this article by simply clicking on the Get Quotes button at the bottom of the page.

Life Insurance Underwriting for Applicants with Atrial Fibrillation

Insurance companies will analyze the statistical risk of insuring you by asking health questions, looking at your height/weight, factoring your age and sex, and sometimes even by conducting a medical exam. This process is called underwriting. Sometimes they insurance company will even look at medical records by obtaining an Attending Physician Statement or APS. Many people with a heart condition such as AFib think they either cannot obtain life insurance, or that the rate would be way too high to even try. The good news is, this is not the case at all. Since we specialize in helping people obtain life insurance with atrial fibrillation, we know which companies to avoid, and which companies offer the lowest life insurance rates for individuals with heart issues.

It is important to be honest and forthright when speaking with your insurance agent and filling out an application. Often times, it is much easier for us to tackle an issue head on with something as simple as an EKG, then try to explain to an underwriter why information was omitted from an application. Even worse, if there is false information, that can be seen in a particularly bad light as a moral hazard, and often times result in an immediate decline, when had the condition been disclosed, it may not have been a significant issue at all.

Term Life Insurance Quotes with Atrial Fibrillation

The process of obtaining life insurance is often misunderstood. First you have the quote. A life insurance quote for someone with AFib should typically not be run at a preferred plus rating. If you do this, you will be setting yourself up to be disappointed. That being said, there are instances when a person with Paroxysmal Atrial Fibrillation can get a preferred rating, if they are in excellent health otherwise but it is rare. Most of the ratings we see range from Standard to Table Rated (Substandard). If the applicant for example has other major heart issues or is very obese, there is a good chance of a decline. Aside from AFib, if you have no other heart issues, are in otherwise good health, and your condition is managed well, a good start when running your quote would be at the Standard rating.

If you have other conditions associated with your AFib, you would probably want to give us a call so that we could run a customized quote or do further research for you based on your conditions. As a last resort, we have companies that are guarantee issue, meaning they will not decline you, but these companies typically have a waiting period and only offer small face amounts. We use these companies when we have no other options.

Applying for Life Insurance with Atrial Fibrillation

The next part of the process is to apply and be underwritten. If you are applying for non-med term life insurance with atrial fibrillation, there will be no paramed exam, and often times the underwriting process is only a couple of weeks or shorter. If you are applying for fully underwritten life insurance with atrial fibrillation, there will be a paramed scheduled, and often times the underwriting process can be four to six weeks. In some instances, the fully underwritten process can take even longer so it is always good to understand this up front.

Choices the Insurance Company Has After Underwriting You

After the application and underwriting process has concluded, the insurance company will offer one of three things.
1. They will offer to insure you at quoted rate.
2. They will offer to insure you at a different rate. Sometimes, this can actually be a better rate believe it or not. For example you apply at the standard rate, but get rated at preferred. You may be surprised to hear this, but we do see it from time to time. Usually however, it is the other way around and the rating offered is not as good than as applied for. This occurs when they discover higher risk during the underwriting such as perhaps a family history of heart disease or other medical conditions that pose concerns.
3. The insurance company can decline you if they feel the risk is simply too great. As mentioned before, in the event this happens, we have the ability to look at other companies, and even look at guarantee issue products as well.

Once the insurance company has made their offer, you have the right to accept and move forward with the policy, or to decide to not move forward with coverage as offered. If you accept, you will then began making premiums and as long as you pay the premium, you will not be dropped by the plan.

Two Life Insurance Case Studies with Atrial Fibrillation

Julia is a 59 year old bank teller that has a history of Atrial Fibrillation. Over time, her episodes have progressed to weekly occurrences despite her medication. At her doctor’s recommendation, she decides to undergo pulmonary ablation. Her procedure took place 5 years ago, and fortunately since that time, she has had no further episodes. Julia also no longer has to take medication for her AFib. In this case study we see a great example of someone who would have been most likely rated substandard prior to the ablation, however since she now has had no episodes for five years, and no longer requires medication, she qualified for a standard rating class.

James is 76 years old and has both chronic Atrial Fibrillation and high blood pressure. He is prescribed both Lanoxin and Warfin. On his EKG he demonstrated a slight thickening of the left ventricle, and mild dilation of both upper chambers of his heart. James plays tennis regularly and goes to the gym several days each week. He also receives regular check-ups at his doctor’s office. After speaking with us in detail over the phone, we were able to shop multiple companies and get an offer with only a small rating from an A+ financially rated insurance company.

In conclusion, having atrial fibrillation doesn’t mean you can’t get insurance at a fair and reasonable price. If you are prepared before you apply and have a general understanding of the process, the experience will be much less stressful. LifeInsuranceWithAfib is here to assist you though the entire process by matching you up with the best companies for AFib applicants.  We utilize our experience from helping others with heart conditions such as AFib, qualify for life insurance. For your free quote, complete a few basic questions and within one minute you will have instant quotes to review, or simply give us a call at 888-930-6599