Finding life insurance that fits our budgets can often be challenging. Of course, this depends on your budget and your medical background. Life insurance after certain health conditions makes the process even more daunting. Especially for someone who has battled a heart condition in recent years.
A question I hear from clients frequently is regarding finding life insurance with heart conditions. Can you get life insurance with a pacemaker? With years of experience in the life insurance industry, here is what I can tell you.
So, can you get life insurance with a pacemaker? Yes, you can get life insurance after with a pacemaker. A pacemaker alone will never be the primary reason that a life insurance company denies you coverage. In fact, life insurance companies like to see that you are diligent with your healthcare and the fact you took the steps towards fixing a present heart condition can make you look better to the life insurance company.
This doesn’t mean that life insurance coverage comes easily necessarily. Especially after a pacemaker.
You will still have a series of questions to answer for the life insurance agent and the underwriters so it’s essential that we cover everything that you should be expecting. Here’s what obtaining life insurance with a pacemaker will really look like.
Who Needs A Pacemaker and Why It Can Impact Life Insurance Approvals
First and foremost, a pacemaker is not as big of a deal as many believe. The chances for needing a pacemaker rise as you get older and are primarily designed to help and regulate irregular heartbeats and to place your heart back into normal rhythm and functioning correctly.
That’s it. Nothing super fancy about it. A pacemaker simply regulates your heartbeat and if need be, will send a painless electric shock/impulse that triggers a heartbeat back into normal rhythm.
Why Are Life Insurance Companies So Concerned with Pacemakers?
The primary reason why life insurance companies can begin raising questions when a pacemaker is involved has nothing to do with the pacemaker itself in most circumstances. They are more concerned with why the pacemaker was initially recommended and why the surgery was performed.
Often, this can be due to something such as sick sinus syndrome. The sinus node is in the upper portion of the heart’s right atrium and where your heartbeat begins.
Other times, individuals may be suffering from a heartbeat that beats too slowly or too rapidly. These are factors the underwriters want to know when reviewing your application for life insurance.
The More Serious Issues Pacemakers Can Cause with Life Insurance
Sometimes your need and primary cause to have a pacemaker implanted are more dangerous. This is when getting life insurance after a pacemaker becomes more difficult.
In some situations, your pacemaker may have been necessary for reasons such as heart blockages, heart disease, heart failure and even following a heart attack in some cases. This is when things can become undoubtedly more complicated when searching for life insurance with a pacemaker.
The Life Insurance Company and Underwriters Will Have Additional Questions
Let’s say that a more severe condition is perhaps why you needed a pacemaker, to begin with. If this is the case, you will have to apply for what’s known as traditional life insurance, and these will require the medical exam to take place.
Don’t worry about this. The medical exam is free, they take some blood and urine samples and ask a few questions. It’s the same as going to your doctor for a checkup, but in this situation, it’s free, and the examiner will come to you.
The reason you can’t use a no-exam life insurance policy in these situations is due to the medical reports which are also known as an “APS,” will be required and no-exam options are often pricey and can take the same amount of time to approve with high-risk medical conditions such as pacemakers being involved.
This is the abbreviation for Attending Physician’s Statement. While some no exam life insurance companies such as Phoenix Life Insurance may be okay to use, it’s often going to be expensive as well.
Skip the Fast Approvals, Take Things Slow with Life Insurance After a Pacemaker
Anytime you have a high-risk medical condition, or something deemed higher risk by life insurance companies, you need to be sure never to use marketing agencies to purchase life insurance. An example of this would be Ethos Life Insurance Company.
Companies such as Ethos life insurance promise fast turn arounds, low rates, and no medical exams but once you answer a health question with a yes or have any information show up in electronic databases, they won’t approve you nor provide you any secondary options.
Therefore, traditional underwritten life insurance policies are the best answer in these situations. It allows the life insurance company to gather the necessary information, perform the exam and take things one step at a time without a big rush to get coverage approved.
It’s also always going to be the cheapest option available to you.
Other Reasons You May Need a Pacemaker and Impacts on Life Insurance
Outside of the possible reasons we mentioned above, it’s also possible that you need a pacemaker due to conditions such as an arrhythmia which is commonly referred to as atrial fibrillation. Again, the pacemaker merely is regulating your heartbeat in these situations.
You also have less frequent issues where a pacemaker may be recommended such as after congenital heart disease or heart transplant. These are likely the two most severe or extreme cases when a pacemaker may be used.
Questions the Life Insurance Company Will Have for You When Applying
Now that you know when a pacemaker may likely be used, and the life insurance company will be inquiring about several items, let’s discuss the actual questions you can expect during this process of applying for coverage. (It’s nothing to sweat or worry about).
Here’s a look at the common questions we here underwriters ask our clients frequently who have had pacemakers implanted.
Original and Current Heart Condition and The Impacts of Lifestyle Adjustments with Life Insurance
Now is when everything gets tied together. Let’s assume for a second that you originally had the pacemaker placed due to a blockage or one of the more serious conditions we have discussed.
That’s great that you have taken steps to help remain healthy by having the pacemaker placed but have you made other changes in your life to prevent further heart complications from arising in the future?
What Do I Mean by This?
Well, heart conditions are commonly linked to other pre-existing conditions that can often be controlled with the decisions we make each day. Items such as smoking, high blood pressure or obesity are commonly linked to heart issues.
If this is the case, have you taken steps to stop smoking, eating healthier or exercising with more frequency? The life insurance wants to be sure you aren’t prone to further heart conditions and heart complications such as a fatal heart attack.
All these small details make a big difference when applying for life insurance with a pacemaker.
Do You Have Other Pre-Existing Conditions That May Affect Your Life Insurance?
After working in the life insurance industry for quite some time now, I’m also aware that when one health condition is present, you may also have other health conditions lingering.
Sometimes, the weight gain that caused the original heart problem wasn’t even your fault and due to something such as hypothyroidism.
I get it.
Things can be tough, and the world can seem unfair, but unfortunately, items like this are critical for the life insurance company to be made aware of up front from day 1.
You never know. When the entire puzzle comes together, you may be looking at way better life insurance rates after a pacemaker than you initially believed was ever possible.
Nonetheless, be upfront with your agent and always work with an Agent with multiple life insurance carriers to choose from.
Approval Chances and Potential Rates for Life Insurance with a Pacemaker
Now, we get into the meat and potatoes. What’re the chances of being approved for life insurance after a pacemaker? Surprisingly, very high. If you are currently living a healthy life and the pacemaker isn’t due to one of the major heart complications, you can surely get approved for coverage.
You may even qualify for rates on your life insurance policy that are eligible for “standard” which is considered the 3rd best option or 3rd best class in the life insurance world.
If, however, you do have other lingering health conditions, or your heart is still riddled with other complications, you may find yourself obtaining traditional life insurance at “sub-standard” rates. This is also known as a table rated life insurance policy.
If this is the case, don’t worry. Protecting your family is still way more important than saving a few extra dollars per month on your life insurance policy. Wouldn’t you agree?
Options If You Have Been Declined for Life Insurance with a Pacemaker
Now, if you have already been declined for life insurance after a pacemaker, you still have some options. You can turn to an independent life insurance Agency and allow us to use all the life insurance companies we represent to help find you the best and most affordable coverage possible.
We represent them all.
This means we can offer you everyone from companies such as Phoenix Life Insurance offering no exam coverage to American General Life Insurance which is one of the biggest and most well-known life insurance companies in the industry. With us, you get those choose from everyone.
Not just one company. This ultimately helps you find approvals with ease. We can use tricks such as writing cover letters for you which explains everything about your medical background to the underwriters to help paint a better picture of the situation.
We can also quick quote over 50 companies at the same time to find out who looks to be the cheapest options and who looks likely to approve your case.
Regardless of who you choose to work in this situation, just make sure that they are an independent life insurance agent and agency if you genuinely want the best results.
Guaranteed Issue Life Insurance and Accidental Death Life Insurance After a Pacemaker
I can’t stress this enough. Never forgo coverage because you feel like you have no options. You always have options for life insurance after a pacemaker or any health condition for that matter.
We already touched on AIG for a moment but what we didn’t mention is other robust options such as guaranteed issue life insurance.
AIG offers one of the top no-questions-asked life insurance policies in the marketplace. It has a 2-year waiting period attached to it due to asking no health backgrounds, but it also includes living benefits and offers 10% interest earned plus a full return of premium if you don’t clear the 2-year window.
Gerber Life Insurance is also extremely competitive and well known for this form of coverage as well. (If we had to pick, AIG still wins the battle) just an FYI.
Options such as this or even leaning on a powerhouse such as Mutual of Omaha who offers excellent accidental death life insurance coverage are great opportunities if you have been declined or need an option to fill the void until we can get you approved for traditional life insurance coverage.
This happens all the time. We use options such as these to get some coverage moving and in place and when we can get a standard traditional fully under-written policy in place, we just swap the coverages.
Heck, some people even choose to keep both policies for additional protection. Ultimately, the choice is yours. I trust protecting your family and assets is a number 1 priority and you will make the correct call.
Other Great Life Insurance Companies with Heart Conditions or After a Pacemaker
Listen, we aren’t trying to overwhelm you with too many options. We know it’s confusing enough as it is and your knowledge on life insurance companies is likely very low.
However, two companies continue to impress us year after year with approving life insurance policies for individuals with not only pacemakers, but all heart conditions for that matter.
Protective Life Insurance Company and Prudential Life Insurance are fantastic options when it comes to pacemakers and other heart conditions. Both companies are extremely old school and have been around more than 100 years.
They want honesty up front and they want details. All the details. Don’t leave anything out. Additionally, never box yourself into a corner with just one of these companies.
Look for an independent agent that represents Protective and Prudential and shop your application through both companies and see who wins. Hell, shop your case with Protective, Prudential and 30 more if you choose. It’s free but these may likely be the winners at the end of the day.
Do not use a direct agent with these companies and do not fall for the whole sale set ups that are offered. It’s another traditional marketing set up where it looks to good to be true. Costco does this frequently with Protective Life.
If you’re an accountant, you may know what I’m referring too when it comes to Prudential Life Insurance and their AICPA program for life insurance.
News flash. Costco offering coverage with Protective Life Insurance saves you a grand total of ZERO dollars.
Don ‘t believes me? Give me a call anytime at the number provided above and I’ll break it down for you. It’s a catchy marketing pitch Costco has and removes your ability to shop many carriers when you land in these common pitfalls.
Your welcome for the heads up.
Also, for the record, I love Costco and shop their so I’m not bashing the store. Everyone loves Costco the store, right? However, selling great deals on beer, wine and steaks doesn’t make you know a single thing about the life insurance industry.
Nonetheless, use an independent agent and don’t be surprised if Protective or Prudential remain the winners when applying for life insurance after or with a pacemaker.
What Should You Do Next After Having a Pacemaker Placed?
If you now believe life insurance can be accomplished with a pacemaker, you can start by filling out the quote form on the right-hand side of the screen if you are on a desktop or the orange tab on the top of your screen using a mobile device.
You can compare your own rates at no charge between over 50 of the top-rated life insurance companies. Be sure to select “standard” for your health rating because achieving top class isn’t likely after having a pacemaker.
If you find the company you want to work with, simply enter your information and someone from Good Life Protection will finish it up for you. Yep, it’s that easy.
Final Word, Life Insurance After and With Pacemakers is Possible, Don’t Lose Hope
Listen, I know it’s scary and no fun applying for life insurance after a pacemaker or after any health condition for that matter. They are all scary and make these decisions and purchases even more difficult to complete.
You can’t lose hope, however, and you must trust that an independent life insurance agent and agency can get the job done for you and that we genuinely exhaust all options with all companies before settling on a policy or a final price.
It’s free, and it’s what we do and what we spend time gaining further education and credentials for. Give us a chance to prove ourselves, and we will make the process as easy as possible and achieve you better life insurance rates after a pacemaker than you ever believed possible.
Got further questions or comments to share about applying for life insurance with a pacemaker? Be sure to drop a comment below. May the best price win.
FILED UNDER – LIFE INSURANCE WITH HEART CONDITIONS
Resources: VeryWell Health
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.