Life Insurance with Cardiovascular Disease : Angina Pectoris
If you are wondering if you can get affordable life insurance with angina, you have come to the 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 your situation rates can range from standard/preferred 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 what underwriters will want to know about your health, possible ratings and rates.
Life Insurance Underwriting 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 your existing health condition. So, whether your risk is a previous heart attack or recreational scuba diving the application process is the same.
What Underwriters Want to Know About Your Angina
Because angina is closely connected to coronary artery disease (CAD), you can expect underwriting to look closely at your medical records. In fact, in most cases an attending physicians statement will be required.
Assuming you are over 40 and have a diagnosis of stable angina with a normal angiogram, life insurance underwriting will be based on your overall health. So, while underwriting will still want to know about your date of diagnosis, symptoms (particularly in the last year), and any related medications being taken, underwriting results will reflect your overall health. This means weight, blood pressure, cholesterol...etc.
If however, your angina is more severe or diagnosed as coronary artery spasm (prinzmetal) underwriting will be additionally interested in EKG/stress test results, treatments, and follow up history.
A good general list is as follows:
- Date of Diagnosis
- Severity of symptoms
- Current and most recent symptoms
- History of treatments
- History of tobacco use
- Blood pressure and cholesterol levels
- EKG/ cardiogram results
- Any other conditions (related or not)
- Family history of heart disease
Possible Underwriting Results for life Insurance with Angina
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 compliance.
Because each case is different, the following pricing scenarios are the best estimates based on experience.
Best Case – If client is over 50 yIf stable angina is under is under excellent control with a normal angiogram - some cases have a strong chance for a standard or even a standard plus rating. Simply use the quote tool on the right for a quote.
Mid Case –If you over 40 but under 50yrs. old or your angina has some complications like high blood pressure/cholesterol. You may be looking at a mild substandard rate. The likely range of table 2/B-4/D is also probable for prinzmetal cases.
To learn about how table ratings work click here.
Tough case – If your angina is severe or requires being actively treated with nitroglycerin you may receive a substandard offer in the range table 6/F to table 8/H 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 angina 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.
Why you Should Use an Independent Agent when Shopping for Life Insurance with Angina Pectoris
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?
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.
Key Take Aways
- Access to more carriers will result in better pricing.
- It may be worth paying slightly more if there is a strong permanent conversion product.
- Only independent brokers have the freedom to offer the best deal at all times.
Case Study Pricing Life Insurance with angina Pectoris
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 with angina pectoris or any other impairment.
Gender: Male Age: 50
$250000 20 Year Term
Well controlled Angina - normal angiogram- no symptoms in last 12 months
Blood Pressure medication
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
|CARRIER||MO. PYMT||CARRIER||MO. PYMT||CARRIER||MO. PYMT|
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 suffer from angina pectoris, prinzmetal 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 with angina options. 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).
Simply give us a call or shoot an email over and we can get you started.
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.
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