Will I Qualify for Life Insurance With AFib?

Obtaining life Insurance with AFib should be an essential part of your financial plan.  If the unexpected happens, life insurances proceeds will prevent financial hardship for your loved ones.  Life insurance can help pay off liabilities such as mortgages and auto payments.  Having a life insurance policy is also a great way to replace lost income, take care of final expenses, and even help pay for a child’s education in the unfortunate event of your passing.

For individuals with perfect health, applying for life insurance coverage can be a simple process, however for individuals with health conditions like AFib, it can pose some challenges.  Fortunately if you have AFib, it is still very possible to obtain the life insurance coverage you need.  In fact, with help from the right agent, you may even be able to get a Regular to even a Regular Plus rating.  In rare occasions we have seen individuals with AFib that have gone several years with no symptoms, get preferred ratings.  These individuals were otherwise in excellent health.

With AFib a preferred rating is very uncommon but is possible.  Typically we see individuals with AFib fall into the standard or substandard ratings.  Each case is different, so working with an experienced agent that has access to multiple companies can make a big difference.

 How Will Having AFib Affect My Life Insurance Application?

AFib affects approximately 2.7 million Americans.  In individuals with AFib the upper chambers of the heart beat irregularly.  Approximately 15-20% of people that have strokes, also have AFIB.  Often times, individuals with AFib are put on blood thinners to lower the risk of blood clots.  Because of the increased risk of heart related deaths and stroke, life insurance companies look closely at several factors when decided whether or not to insure or decline.  Some companies are more lenient than others.  One company may offer a standard rate, while another company might outright decline.

 What Life Insurance Underwriters Will Look At

When applying for life insurance with Afib, the underwriters will gather information about you.  They want to get a good understanding of your overall health inside and out.  On the application there is a series of basic questions.  The company will want to know things like name, date of birth, sex, and physical address.  In addition, the company will ask a series of health questions covering everything from cardiovascular conditions and pulmonary conditions, to cancer and diabetes.

Medications and treatments are another item that underwriters want to know about.  With AFib, some of the most common medications are Beta Blockers, Amiodarone, Dronedarone, Digoxin, ACE Inhibitors, and Propafenone.  Two common treatments for AFib are cardioversion and ablation.  When you were diagnosed and whether your AFib is paroxysmal or chronic is also an important piece of information the company will want know.

Finally, things like family history, and other high risk factors like heart disease and/or smoking will come into play when evaluating what risk level you are for the insurance company to insure.  Underwriters often times will request an attending physician’s statement (APS) in order to dig deeper into your AFib history.

In many cases, the insurance company will require you to undergo a paramed exam, which is similar to a mini physical.  There are options out there for non-medical, which means you would not have to undergo a paramed exam, however going this route usually will cost slightly more in premium.  We will advise to go this route in certain situations, however it is often a case by case basis.  Upon completion of the underwriting process, the company will either offer coverage at quoted rate, offer coverage at a different rate, or decline to offer coverage.

How Much Does Life Insurance Cost When You Have AFib?

To get a good idea of cost, you can simply run an instant quote.  If you are not sure what rating to select, you can give us a call and we can assist you.  Statistically, Standard rating is a good place to start when you have AFib.  There are many factors taken into account, and different companies may look at each of these factors much differently.  That being said, if you apply standard you may get table rated, or you may even get a better rating such as preferred in rare instances.

What If I Get Declined for Life Insurance Coverage?

In the event you are declined there are still options.  We have some insurance companies that have life insurance policies that do not ask any health questions at all.  These types of products are known as guarantee issue policies.  Generally we use these types of products as a fall back in the event you are uninsurable with the traditional products.  The drawback to guarantee issue is there is typically a waiting period of 2-3 years, face amounts offered are relatively low, and premium is usually high.  That being said, when no other options are on the table, this can ultimately be well worth looking at.

How and Where Do I Obtain Life Insurance Quotes When Diagnosed with AFib?

When you have AFib where you apply for life insurance coverage may be one of the most important decisions you make.  Working with an independent broker, that understands what companies to avoid, and what companies are more lenient with underwriting AFib can be the difference in getting declined and getting a policy at a great rate.  If you have AFib and are otherwise healthy, we would encourage you to simply use our instant quote engine to compare term life insurance with AFib rates.  The best bet is to run the quote at the Regular rate.

If you have other risk factors such as high blood pressure, obesity, other heart issues, or are a smoker, then to get the most accurate quote, we recommend you reach out to us by sending a message or giving us a call at (888) 930 – 6599.  You are more than welcome to run your own instant quote, however keep in mind the actual rate will most likely be higher if you have other conditions in addition to AFib.  We have the knowledge, and experience of helping connect individuals with AFib to the right insurance companies that offer them the most competitive rates.

In Conclusion

Not only can you qualify for life insurance with AFib, you can also get a competitive rate.  While underwriters will factor in the fact you have AFib, if you know which companies to look at and which companies to avoid, you will have much better odds at getting a better deal than if you went into the process blind.