Life Insurance can be intimidating enough by itself. Let alone purchasing life insurance after you have dealt with a health condition and are worried if you can even put coverage into place. I get it, and we hear the stories all the time. It can be intimidating because of the mere fact that you don’t know what to expect which by itself is typically enough to force someone to forgo coverage.
This is the wrong approach and can leave your family exposed if something happens to you prematurely.
Getting coverage put in place in case this ever happens is how to achieve true peace of mind and protect your family’s future in case you end up in a situation where you are no longer around to provide (god forbid). One of those health conditions that really leaves people unsure of the next steps is pulmonary embolisms.
Can you even be approved for life insurance after a pulmonary embolism? Here is what I can tell you on this topic.
So, can you be approved for life insurance after a pulmonary embolism? Yes. You can be approved for life insurance after a pulmonary embolism. You can still achieve preferred rates for your coverage after a pulmonary embolism. If 5 years have passed since your pulmonary embolism (PE) and you haven’t had more occurrences, you can still achieve very cheap rates for your life insurance coverage.
Hopefully, the previous answer made you feel better about the process. However, the process does still have more information and hoops to jump through. This happens anytime you are dealing with health conditions or prior lung conditions when applying for life insurance. It’s standard practice.
The purpose of this article is to help have you prepared for the application process for life insurance after a PE and have you achieving the most affordable rates possible.
Let’s start diving into those details now.
More About Obtaining Life Insurance After A Pulmonary Embolism
A pulmonary embolism is a blood clot in your lung. Yes, they can be very dangerous but having one pulmonary embolism doesn’t necessarily mean it’s ever going to happen again. In most circumstances, the original reason a blood clot in your lung occurs is from a blood clot in your leg breaking loose and traveling to your lung.
A medication commonly referred to as Coumadin is the most frequently used treatment for a pulmonary embolism. What’s needed to help a pulmonary embolism in your lung is vitamin K which helps break up and slowly dissolve the blood clot.
The medication also continues to act a preventative for you to help ensure a blood clot doesn’t take place in your legs again in the future. The severity of the blood clot that makes it your lung is also a significant factor on whether you can be approved for coverage after the pulmonary embolism.
For example, if a large portion of your lung was impacted, it’s going to be more challenging to gain coverage. If, however, your PE didn’t have any significant impacts and is treated with medication or no treatment at all is recommended, you can still be approved for life insurance coverage.
Keep in mind, this is always based and assuming that you don’t have other issues taking place health wise. Obtaining life insurance is still going to come down to an entire scope of the situation with your health. Not just one aspect of it.
Other Health Aspects, the Life Insurance Company Will, Want to Know About You
Outside of the pulmonary embolism, the life insurance company will ask the usual questions about your health that they ask in all situations. These are general health questions and would be asked regardless of your position with your pulmonary embolism.
Here’s a look at some of the questions you can expect to be asked during this phase of the application process.
After you get through this portion of the life insurance application process, it’s likely you are complete and just waiting to hear your results and ultimately what rates your life insurance will be approved at.
If you have other health conditions that are in addition to the PE, you can expect the life insurance process to be a little trickier but still definitely doable.
Keep in mind, Agencies such as Good Life Protection are experts in handling high-risk life insurance cases, and we have over 50 carriers that you can choose from to ultimately find the best chance at being approved and at the cheapest possible rates.
What Can You Expect to Happen During the Application Process and Approval Phase After A PE?
Like I stated before, if you have a minor PE and no other health concerns, you can obtain a preferred rating on your life insurance policy (best rating available).
If, however, your PE was more dangerous, or you have some other minor health conditions, you may be looking at standard rates (3rd best rating possible) or substandard rates for your life insurance.
I don’t know how to emphasize this point any more than this, but consumers need to begin realizing that sub-standard rates are not a reason to not pay and obtain life insurance coverage. This is coming from someone with a family and assets to protect as well.
Life insurance isn’t built to approve everyone, or they wouldn’t be capable of paying claims to honest paying premium payers.
Being approved for coverage is what’s, and anyone who is purchasing life insurance could surely give up something else small every month to afford themselves the free funds to protect their spouses, children, and assets they have worked so hard to accomplish over their lives.
What Do We Recommend You Do Next?
If you have had a PE (Pulmonary Embolism), we recommend you speak to an independent life insurance agent ONLY and begin discussing your options coverage. You see, using an independent agent is going to allow you to find the best life insurance company and pricing to fit your needs.
Choosing a captive company such as Farmers Life or even USAA is going to box you into a corner only giving you one potential option and 1 possible price. Start by filling out the quote form to compare rates on your own, if you don’t want to speak to anyone.
The most important thing is to simply begin the process and have your information ready to relay to an agent who can help you effectively. We rarely run into a situation where we can’t find anything that’s a fit for you or other individuals in the same situation as you. It’s what we do, and we want to help.
Don’t Ignore Guaranteed Issue Life Insurance or Accidental Death Life Insurance
If you follow other articles we write, anytime we discuss high-risk medical conditions, you will always hear me refer to guaranteed issue life insurance or accidental death life insurance. It’s because I believe very strongly that they can be an excellent option for you.
Life Insurance companies specialize in these products, and if you have been declined, this is your chance to get some coverage in force. Companies such as AIG offer fantastic no questions asked life insurance policy as well as companies such as Gerber Life or Great Western Life Insurance Company.
These policies ask no health questions, but in exchange, you have a 24-month waiting period where you will only be provided 100% money back plus a 10% interest earned on your premiums. Long story short, it’s a brief strong performing savings account and then coverage amounts up to 25,000 will be put in place like any other standard life insurance policy.
Accidental death offers no medical questions as well but only covers your death in the event of an accident. Mutual of Omaha is one of the best in the business for these policies and shouldn’t be overlooked.
Never forget, some coverage is better than no coverage, and we can always cancel that policy in the future once we get you approved for traditional life insurance.
Final Word, Life Insurance After a Pulmonary Embolism Is Absolutely Possible at Great Rates
At the end of the day, you shouldn’t be hesitating to be purchasing life insurance after a pulmonary embolism. It’s possible, and you can still achieve preferred rates. Coverage for your family is the most important thing, and we are here to help.
Begin by filling out the quote form to compare rates from all the top-rated life insurance companies that we all know and trust.
What are you waiting for?
FILED UNDER – HIGH RISK LIFE INSURANCE / LUNG CONDITIONS
RESOURCES – UChicagoMedicine
Josh Martin is the founder of Good Life Protection. He began his career as a captive Agent working for New York Life Insurance Company. After continued education and designations, Josh founded Good Life Protection to provide consumers with more options and insurance that truly fits into your budget and health classification.