I’ll spare you the definition of Atrial Fibrillation and statistics about it as I’m sure you’re fully aware of what it is if you’ve arrived here. All you want to know is can you get life insurance with Atrial Fibrillation and I’m here to tell you that YES you can, but, it depends. Let’s break down different scenarios of the likely outcomes in getting coverage with this condition. If you hate reading, or shopping, let us do both for you and give us a call. Otherwise, let’s dive in.
In summary, you can get life insurance Atrial Fibrillation, but it will depend on a few factors like:
- Date of Diagnosis
- Age of Applicant
- Frequency of Attacks
- Whether it’s fully investigated
- Paroxysmal vs. Chronic
- Any underlying heart disease
- Any complications such as stroke, congestive heart failure, etc.
- Any other impairments or health issues
Overall you can expect between a standard rating or a table rating. Which ranges from tables 1 to 10, with a 25% increase in premium for each table up depending on the severity of the condition(s).
That’s the short story. Normally I’d send you to run quotes to your right, but in this case the best rate for you won’t be the company with the best rate on a generic quoter. The good news is we know how to get you covered so you’re at the right place, let’s expand and discuss all the outcomes.
Possible Outcomes
There are really 4 total outcomes that you can expect when applying for coverage with Atrial Fibrillation and they are a postponement, a standard rating, a table rating or in the worst case a decline.
- Postponement – after the application the life insurance company will require you to take a medical exam. This exam will take place at your convenience and at a location of your choosing. At this point the nurse will come out and do a typical physical along with a blood and urine sample. If the Atrial Fibrillation then the life insurance companies will postpone your application until further investigation is done on the condition.
- Standard Rating – if it’s a Paroxysmal Atrial Fibrillation (PAF) with infrequent attacks, then you can get approved for a Standard rating. This is of course, given that there are no other factors at play. The life insurance company will look at family history, overall health and lifestyle to determine whether you qualify for a Standard rate. If you have a history of substance abuse or currently smoke, then you will most likely be rated up.
- Table Rating – also known as a “substandard” rate, will be for those applicants that have Chronic Atrial Fibrillation or other unfavorable factors. Substandard rating range from table 1 to table 10. Each increase in a table equals a 25% increase in monthly premium from the “Standard” rate. So for Chronic Atrial Fibrillation you can expect a range of table 2 to 6.
- Decline – This is the worst case scenario and can be a result of having multiple health conditions or complications with treatment. In this case you would have an option to get a guaranteed issue life insurance coverage. This is a policy that is issued with no questions asked on a guaranteed basis. The downside is they are usually capped at $10,000 to $25,000 worth of coverage and tend to be more expensive. Otherwise, you can look into some group life insurance options through work to see if you can get covered.
Those are the most typical cases that we have had over time on insuring clients with this condition. Fortunately, we have experience in working with companies that will provide the most results and know exactly what to do to get positive results. In high risk cases underwriters tend to take positive treatment and a lifestyle favorable to your condition into consideration. In order to demonstrate this it’s always a good idea for your agent to attach a cover letter detailing your treatment. It always helps that you have frequent doctor’s visits that supports this in their notes.
Be Honest With Your Agent
If you’re working with an experienced independent agent then you will have to answer some qualifying questions. Make sure to be honest because this will help them identify which company is the best fit for you. Life insurance companies have underwriting guides that vary slightly, so to help you agent get you the best rate, give them accurate details regarding your condition. The life insurance companies will do a thorough analysis of your medical exam results and your medical records. They will look at things like date of diagnosis, associated symptoms, exercise tolerance and severity of the condition. They might also require all your doctors records so to avoid having to re-apply with other carriers and prolonging getting coverage, be open with your agent.
You can expect to answer questions about your diagnosis, the type of treatment, and the effectiveness of the treatment. Outside of the actual condition the agent will want to know the typical qualification questions such as:
- Any health conditions?
- Dangerous hobbies or occupations?
- Family history of death prior to age 60 due to illness?
- History of drug or alcohol abuse?
- Any history of felonies?
- Any history of driving infractions, DUI’s or bankruptcies?
The process will include four steps which will be:
- The Application (15 to 30 minutes)
- The Medical Exam (15 to 30 minutes)
- Underwriting (5 to 8 weeks to 8 weeks or longer
- Approval (congratulations!)
If you applied with a good agent they will guide you each step of the way.
Wrapping Up
Overall, this is what you can expect when getting life insurance with Atrial Fibrillation. Hopefully you found this article a useful source of information. But as you can see getting life insurance can be complicated, so let us do all the work for you, besides, we’re really good at it. We shop around with all of our A-rated carriers to make sure we get you the best rate on the market. Feel free to give us a call at 888-492-1967 or hit the chat button below. Welcome to InsureChance!
