November 4, 2019

heart attack

Arranging Life Insurance after suffering a heart attack

If, once you’ve read this case study, you’d like to talk through your situation, please call 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.

What is a heart attack?

Most heart attacks are caused by coronary heart disease, which is when your coronary arteries narrow due to a gradual build-up of atheroma (fatty material) within their walls. If the atheroma becomes unstable, a piece may break off and lead to a blood clot forming.

This clot can block the coronary artery, starving your heart of blood and oxygen and causing damage to your heart muscle – this is a heart attack.

How does a heart attack affect a life insurance application?

When an insurance company considers an application for life insurance from someone who has suffered from a heart attack they will take into account many factors before deciding whether to offer any cover.

  • When was the heart attack?
  • Which and how many arteries were affected?
  • What treatment was administered eg angioplasty or stents being fitted?
  • Have there been any symptoms since, such as chest pain?
  • Have you returned to work, or are now able to live your life normally again?
  • What are your height and weight?
  • Do you suffer from raised blood pressure or raised cholesterol?
  • Do you smoke?
  • Is there a family history of heart problems?

Our client

We were recently approached by Mr B, a 65-year-old non-smoker. He required life insurance to provide financial support for his two children over the next 10 years whilst they were still dependent, should he pass away.

He was looking to insure a £20,000 lump sum. The most cost-effective way of covering this is with a level Term Policy.

Our client’s medical condition

However, Mr B experienced problems in arranging life insurance on his own. This is because he suffered a major heart attack 6 years ago and had to undergo heart bypass surgery. The result of this was that he had to have one stent being fitted in his right artery.

This involved inserting a short wire-mesh tube, called a stent, into the artery during the procedure. The stent is left in place permanently to allow blood to flow more freely.

Our research process and advice

Once we had a good understanding of Mr Bs situation, requirements and medical history we started our research process.

Will they add a ‘loading’ to the premium (this is an additional amount on top of the standard monthly premium to reflect their additional risk)?

Could they exclude certain conditions?

Might they decline an application? We want to avoid wasting time by making applications which might be declined.

Each Insurance Provider has their own underwriting guide and we contacted them all to find the best solution. In our extensive research we found one company who were willing to offer insurance with a 225% loading. This was a better outcome than Mr B had been previously offered.

The outcome

Mr B was pleased that we were able to arrange a level term life or earlier terminal illness policy with an initial sum assured of £20,000 over a term of 10 years for a monthly premium of £42.71.

Client Ref 139814949

Please note that any premiums mentioned are indicative only and based on this specific case study/ example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted.

Next steps

Whilst you are welcome to get a quote online, we would recommend you speak to one of our advisers.

Any quote that your adviser provides you with will take into account your circumstances and medical history, as well as your budget!

An online quote is just that – a quote – it isn’t a definite offer of cover. What really matters is the premium you are offered, after your application has been assessed.

Call Freephone 0800 644 4468 – Monday to Thursday from 09.00 to 19.00 and on Friday between 09.00 and 17.00.

Please feel free to read our Independent client reviews, or read about the team at Future Proof

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Take a look at our handy guides ‘What Cover is Right for me?’

Do you suffer from a medical condition and concerned you can’t secure Life Insurance?  Please view our ‘Medical Guides’ for further information.

Whilst we will make every endeavour to help someone to arrange insurance, there is no guarantee of success.  All applications are subject to underwriting.

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