Life Insurance After Bypass Surgery…What You Need To Know

Life Insurance After Bypass Surgery…What You Need To Know

If you are wondering if you can get affordable life insurance after bypass surgery, you have have landed in the right place right place.

The simple answer is yes it's possible. The more complicated (and honest) answer is "it depends on your particular circumstance". Based on the underlying cause of your bypass surgery, the severity of symptoms and your overall health situation. rates can range from standard (rare) to a table rating or even a decline.

​This article will provide the information you need to know about getting life insurance with angina. You will learn:

​How Insurers Assess the Risk of Preexisting Conditions

Life insurance is about risk assessment.The reason life insurance underwriters look so closely at every detail of your health is that they are assessing how much risk your health poses to the company's profitability. The simple fact is that if you die too soon, they lose money. They get paid to limit that possibility.

With that simple premise of life insurance company's perspective in mind, it's worth noting that the process of applying for life insurance is virtually the same regardless of yourexisting health condition. So, whether your risk is a previous heart attack or recreational scuba diving the application process is the same.

What Questions Will Insurers Ask About Your Bypass Surgery

Because  bypass surgery is a significant response to a very serious coronary risk, life insurance underwriters will have several questions about your medical history. Among these questions:

  • When did you have your bypass surgery? Was it a multiple bypass procedure? How many bypass surgeries have you had?
  • What was the underlying reason for the bypass surgery? Was it an elective or emergency procedure?
  • Have you had  other heart surgeries l such as  a heart mitral valve replacement?
  • Were there any complications after the surgery like internal bleeding, stroke, or cardiac tamponade?
  • What medications (including dosages) are you taking? 
  • Do you have a personal or family history of cardiac artery disease (CAD)?
  • Do you smoke, or have high blood pressure or cholesterol? 

​While information that is "foggy" will be taken from your medical records, knowing the dates of diagnosis and treatments is necessary to get an accurate quote.

​What Health Classification Can You Expect to Receive

When it comes to life insurance underwriting, your story matters. ​This is particularly true if that story involves a material change in lifestyle.


That is to say two people with the same age and condition may get vastly different offers from the same carrier based on age of diagnosis and patient follow up  and compliance.

Because each case is different, the following pricing scenarios are the best estimates based on experience.

Best Case – If client is over 50 years old, single bypass surgery was more than 2 years ago and elective rather than emergency, with normal EKG/ECG/stress test ,excellent follow up and healthy lifestyle- some cases have a  chance for a standard  rating. Simply use the quote tool on the right for a quote.

Mid Case –If you over 40 but under 50yrs. old or your bypass surgery was not elective, or you have high blood pressure/cholesterol. You may be looking at a mild substandard rate. The likely range of table 2/B-6/F

To learn about how table ratings work click here.

Tough case – If your Bypass surgery was emergency in nature, hed complications, or requires being actively treated with nitroglycerin you may receive a severe substandard offer in the range table 8/H - 10/L or depending on the severity of the case.

* while expensive this may still be a very good outcome for the circumstances

Decline– For a severe case where bypass patient  is not stable or the applicant is under 40 years of age, you may be declined for traditional coverage. If this is the case you may be eligible for a smaller face amount policy. These policies are referred to as Guaranteed issue or simplified issue. If you have been declined please contact us.

​How Much Will Life Insurance After Bypass Surgery Cost?

​As you can see, underwriting grades for bypass surgery have a wide range. An experienced agent will be able to tighten that range for you based on your history. That being said, below is an example of the best rates rates ranging from standard to table 6. 

  • Male
  • Female

10 YEAR TERM RATES- $100,000 -NO TOBACCO USE

AGE

Standard

Table 2/B

Table 4/D

Table 6/F

40

$ 12.53/mo.

$ 17.15/mo.

$ 20.83/mo.

$ 24.50/mo.

45

16.98

22.40

27.83

33.25

50

23.36

31.98

40.60

49.22

55

36.38

52.24

67.90

83.56

60

57.19

83.21

109.20

135.19

65

93.79

137.63

181.48

225.33

70

168.35

236.66

313.80

390.93

Best Rates as of 9/18/2017

How To Find The Friendliest Life Insurance Companies For A Bypass History

Now you already understand that your story matters, and that two people in similar situations can get very different offers from the same carrier.


But did you know that different insurance companies will also treat each case differently?


For example SBLI may have more of an appetite for the risk that Angila pectoris presents than say Assurity. In this case the underwriting grade will reflect this increased appetite.


So, if your Agent only represented one carrier and you found out later that that you could have gotten a rate 35% or 45% better, how would you feel?

life insurance with angina

You’d probably be angry either at the agent or likely both. So it’s important that your Agent represent multiple carriers.


Most good independent agents will have access to over 50 carriers. This ensures the best chance at the best rate.


Note that if he doesn’t have access to alternatives , he may not be interested in telling you.

Case Study: Pricing Life Insurance After Bypass History


So, I have been spilling digital ink about the importance of using an independent Agent and you're probably thinking that I sound a bit self serving.


You are right, I am. However, what I am saying is also the (provable) truth.


Please see the case study below . it will show why it is in your interest to have as many options as possible available when shopping for life insurance after bypass surgery  or any other impairment.


Gender: Male Age: 50

$250000 20 Year Term

Tobacco: No

Elective bypass surgery for small blockage  @47 with no complications, normal EKG/ECG with regular follow up

This looks like a standard case that might get a better rating with one or two carriers. depending on the insurers appetite for an angina risk. Let’s take a look at the rates.

Standard Rates - Table 2 Rates - Table 4 Rates


CARRIERMO. PYMTCARRIERMO. PYMTCARRIERMO. PYMT
lincoln financial$77.31banner97.78banner128.62
banner77.32principal114.52principal150.50
principal78.53protective115.65protective154.20
mutual omaha88.99mutual omaha130.77mutual omaha172.55
prudential logo94.73prudential logo143.49prudential logo193.12

This table which shows only a few of the major life insurance companies available illustrates the difference in rates. For standard rates Prudential is 20% more expensive than Lincoln.


On it’s face this seems like a pretty straight forward choice and if underwriting grades between carriers is the same, it really can be that simple.


This kind of easy price shopping is particularly useful for younger folks in good health and demonstrates why you want to use an independent Agent.


For people who have had bypass surgery or any other serious diagnosis, it gets much more complicated.


Because life insurers manage their appetite for specific risks by being more lenient or more stringent with underwriting grades, you need to know which company will grade you a preferred plus risk and which ones will grade you as standard.


In the case above Prudential (the most expensive standard rate) is likely to be the best deal because the more competitively priced carriers will likely rate the risk Table 2 while Pru might well go Standard.


This is something you can’t know by simply looking at the lowest price. In this hypothetical using an independent agent could save you 50% (the difference between Prudential @ Standard and Lincoln @ Table 2 ($170.29)

Your Next Step


Thank you for choosing the Life Insurance Help Desk to research life insurance after bypass surgery. Now that you know the information you will need to receive the most accurate quote possible, it’s time to gather the information and speak to an independent Agent (raising my hand).



We are committed to totally transparent pricing (we’ll even share our computer screen with you if you’d like), and making the application process as painless as possible. Should you have any questions, please do not hesitate to call or shoot over an email

Related Keywords: coronary bypass, coronary artery disease ​

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James Tobin, CFP
 

Jim Tobin is the owner of Life Insurance Help Desk, a Fairfield County, CT. life insurance agency. You can find him on Google + and Facebook. Over the past 10 years, Jim has used his CFP-financial planning designation to help individuals with their life insurance needs. In addition to working with life insurance clients, Jim teaches ESL classes in his spare time. He resides with his beautiful wife Nicole and the 3 cats that rule their lives..