Life insurance is one of the most important investments that you’ll ever make for your loved ones. In fact, it’s the best way to ensure that your family will have the money that they need if something tragic were to happen to you.
When you apply for life insurance coverage, the company is going to review dozens of different factors when they are calculating how much they are going to charge you for insurance protection. One of the biggest factors that they are going to review when you apply is your health. If you have any severe red flags on your medical records, then you’re going to be facing much higher premiums. One of the most common health complications that we see is heart attacks.
Having a heart attack in your past is going to mean that you’re a higher risk to the insurance company. The insurance company is going to offset that additional risk by charging you higher monthly premiums. Just because you’ve had a heart attack in the past doesn’t mean that you have to pay a fortune for your life insurance coverage.
If you’re looking for a large life insurance policy, a million dollars or more, you might be worried about how much your life insurance plan is going to cost and if you can be accepted for the coverage. This article is going to look at the different ways that you can improve your chances of being accepted for life insurance and you can save money on your coverage.
Calculating Your Life Insurance Needs
Before you purchase life insurance coverage, it’s important that you determine how much coverage that your family is going to need if something were to happen to you. Not having enough life insurance coverage is one of the worst mistakes that you could make. If you were to pass away, and you had too little coverage, your family would be responsible for additional bills and expenses that they wouldn’t have the money to pay for.
The first number that you should crunch before you buy life insurance is your debts and other final expenses that your family would be responsible for paying. Add up everything from your mortgage to any student loans. Make sure that your plan is larger than all of your debts.
The next number that you should look at is your annual income. The secondary purpose of your life insurance policy is to give your family the money that they need to replace your paycheck. If you’re the main stream of income in your home, your family would struggle without that money. That’s where your life insurance comes in.
Getting Affordable Life Insurance Coverage with a Heart Attack
Even if you have had a heart attack, there are several ways that you can get affordable life insurance protection. Making a few simple lifestyle changes could save you thousands of dollars every year on your life insurance plan.
The first thing that you should do is improve your overall health by getting regular exercise and cutting out the junk food. Both of these will help you lose weight, lower your cholesterol, lower your blood pressure, and reduce your risk of being diagnosed with any health complications, like diabetes. Hitting the gym is a great way to improve your overall health, which is going to translate into lower insurance premiums.
Another excellent way to save money on your life insurance coverage is to cut out the cigarettes. If you’re a smoker, then you probably know that you’re going to pay more for your life insurance coverage. Smoking drastically increases your chances of suffering from another heart attack or being diagnosed with various types of cancer. Smokers are going to pay at least twice as much for life insurance versus what a non-smoker is going to pay for the same sized plan.
The best way to ensure that you’re getting the lowest insurance premiums is to compare dozens and dozens of plans before you decide which one is going to work best for you. Each insurance company is different, and all of them are going to offer you varying rates based on their medical underwriting and rating system. Finding a company that has more experience working with clients with heart attacks is going to save you hundreds of dollars. Finding the perfect company is the difference in getting an affordable policy or getting one that’s going to break your bank every month.
Working with an Independent Insurance Agent
Instead of wasting hours and hours calling companies, let one of our independent insurance agents do all of the hard work for you. Unlike a traditional insurance agent, our agents have years and years of experience working with all kinds of applicants. We know which companies are going to offer you the lowest rates as an applicant with a heart attack in the past.
If you have any questions about getting life insurance as a person with a heart attack, please contact one of our agents today. We would love to answer those questions and connect you with the best insurance plan for you. It’s our mission to ensure that you’re getting the best plan possible.
You never know what’s going to happen tomorrow, which means that you shouldn’t wait another day to get the insurance protection that your family deserves. If you’ve ever been told that you can’t get affordable life insurance because you’ve had a heart attack, don’t’ believe it. There are several affordable options for insurance coverage that you can choose between.