March 10, 2020
Hypertrophic Cardiomyopathy and life insurance

Hypertrophic Cardiomyopathy how it affects life insurance

Our client

Mr R, a 42-year-old non-smoker, contacted us because he needed life insurance. He wanted the cover to ensure funds would be available to repay his mortgage in full should he pass away before the end of the mortgage term.

The mortgage had an outstanding balance of £206,000, over a remaining term of 26 years. The most cost-effective way of protecting an interest and capital repayment mortgage is with a Decreasing Term Policy. However, Mr R was finding it difficult to arrange this cover himself because he suffers from a heart condition called Hypertrophic Cardiomyopathy.

What is Hypertrophic Cardiomyopathy? *

Cardiomyopathy is a general term for diseases of the heart muscle.  The walls of the heart chambers can become stretched, thickened or stiff which affects the heart’s ability to pump blood around the body.  Most people inherit the disease from their parents.* NHS Choices November 2019

In Hypertrophic Cardiomyopathy, the heart muscle cells enlarge and the walls of the heart chambers thicken. The chambers reduce in size and therefore cannot hold as much blood as those of a healthy heart. In addition to this, the walls cannot relax properly and may stiffen plus the flow of blood through the heart may be restricted.

In most cases, Hypertrophic Cardiomyopathy will not have an impact on the sufferers daily life and some people do not have any symptoms or require any form of treatment.

However, this does not mean the condition cannot be serious. Hypertrophic Cardiomyopathy is the most common cause of sudden unexpected death in childhood and in young athletes and is thought to affect 1 in 500 people in the UK.

Our process and advice

At Future Proof, we have access to specialist insurance companies who don’t deal directly with the public, but who offer more specialised policies, designed to provide cover where other major providers can’t.

Our research process involves us contacting many insurers to find out the best possible outcome for our clients, which avoids any nasty shocks later on during the underwriting process.

Would the insurer add a ‘loading’ to their standard premium? (this is an additional sum charged on top of their standard monthly premium to reflect their additional risk)

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

The outcome

In our client’s case, the majority of insurers we contacted would decline to offer cover in this instance.  However, we did find a company who were willing to offer him cover but with a 150% medical loading which was added to his initial premium.

Mr R was relieved that we were able to arrange a Decreasing Term Life or earlier Terminal Illness policy for him with a sum assured of £206,000, over a term of 26 years for a monthly premium of £43.25.

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.

Client Ref 151432955

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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