If you need life insurance after a heart attack, or any heart condition for that matter, and were able to get life insurance…
How do you know you really got a decent offer?
Most agents will tell you getting any offer of life insurance after a heart attack is great, and they may even tell you “NO company will beat this offer.”
You’ll see how these comments are often times wrong!
We shop really tough cases every day, and we still get surprised at the different offers that two different companies will make to the same person.
Had Mild Heart Attack and Need Life Insurance
We just did a case with an interesting result for a 62-year-old gentleman who had a “mild” heart attack at age 49.
He was treated with medication only (no stents, no bypass) and all follow-up cardiac test results have been great including a good stress test within past 12 months.
The gentleman had applied through another agency and was offered a table 6 rating. Each table rating reflects a 25% additional cost over the “standard plus” or “standard” rates.
The table 6 policy was going to cost him $4,972 per year, and he assumed there had to be a better rate available because he gets great feedback from his cardiologist on every checkup, he eats well, and he exercises regularly.
This guy is the poster child for great cardiac health and overall health after a heart attack!
We Have System To Save Every Heart Patient Money
I started systematically shopping heart disease cases many years ago based on the hassle I had getting myself life insurance due to my own heart disease.
Our shopping process is the same, regardless of your specific cardiac issue. We will inquire with every competitive insurance company to find you best offer.
This gentleman found our website and contacted us.
Medical Records are SO Important
He happened to have his cardiac medical records, and his original cardiac catheterization showed no evidence of blockage in any of his major coronary arteries and mentioned that the mild heart attack must have been caused by plaque rupture of the obtuse marginal branch of the circumflex artery.
He had no heart damage caused by the mild heart attack, with current ejection fraction of 55%, so we were completely confident that we could get him a better offer than the table 6 offer he was previously given.
The funny thing is that the insurance company that offered him the table 6 rating has been very aggressive on some CAD cases, but definitely not on this one!
Based on what we saw in his medical records, table 6 was not a fair offer.
We gave this gentleman our opinion and recommendation on how to proceed.
Solution To Finding Best Life Insurance After Heart Attack
We explained to this gentleman how there is no way for us to know the exact better rate for which he’ll qualify until he goes through underwriting and his complete medical records and exam results are reviewed by new underwriters.
Every week we shop CAD cases, and we have a folder of underwriting outcomes on every case we shop. This experience helps us to narrow down best companies to try.
We had this gentleman sign applications for the two new most probable best insurance companies for him since we never want to have all of our eggs in one basket.
We Obtain All Medical Records
We do obtain medical records on every case, so we can see the exact issues and don’t have to rely on any underwriter telling us the “facts.”
We can also use the medical records to get quick offers from other insurance companies if the first companies don’t make good offers.
The first offer for this gentleman came back at a table 3 rating, which was a much better price than the original table 6 offer.
We still thought we could get him a better rate, so waited for the second offer before doing any negotiating.
The second offer came back at a Standard rate with no additional rating, which saved this gentleman $2,340.45 per year or $35,107 over 15 years compared to what he would have paid for the table 6 – 15 year term offer.
Now that’s what I’m talkin’ about!
Was Definitely Our Heart Disease Case of the Month
We were actually expecting a table 2 rate for best case scenario based on the underwriting manuals, and the fact that this gentleman had the heart attack at age 49, which is young considering the progressive nature of CAD.
There are really only a few slightly different underwriting manuals that all life insurance companies use… these are more “guides” as opposed to hard and fast “rules.”
Based on the manuals, having a heart attack or CAD under age 50 is worse than having it at age 50+.
Forget About Underwriting Manuals…
Because we know there is always “wiggle room” as far as what rate class may be offered, we always relay all positive information to the underwriters regarding our client’s health history since the heart attack with details on diet, exercise, etc.
We also make it known we’re shopping with other companies, and we need the absolute best offer to place the case.
Once again, our process has paid off, as getting a Standard rate on a case like this one was AWESOME!
This case was definitely our case of the month!
Will Your Agent Shop To Get You Best Offer… Probably Not!
We are glad this gentleman found our website, and he was too!
While any agent, website or broker could do what we do, it is our experience that most will not.
We even know an agent/agency that has a popular radio advertisement for life insurance, and they were doing a ton of business when I last spoke to the owner.
I asked the owner how he handles re-shopping cases when the offers are higher than expected or justified, and he responded, “You get what ya get, and you don’t get upset,” and that his agency “won’t re-shop ANY case.”
It Takes Work To get Better Offer
This other agency has such a large volume of business that they just don’t care if some people don’t end up accepting the coverage.
But more important than that, what about having integrity and doing your best for everyone that gives you the opportunity? This other agent only cared about making as much money as possible as easily as possible.
Based on conversations we’ve had with hundreds of people who were offered higher rates in the past, I do wonder if we are the only ones that actually shop or “re-shop” cases.
The bottom line seems to be that most agents and agencies are just not willing to put the work in to getting you the best offer.
We Are Willing & Able to Work Hard to Get You Best Offer!
We shop and “re-shop” cases everyday when we don’t get the offers we’re expecting, or when we believe there may be better offers.
As much as we wish everybody qualifies for the rates we quote initially, it just doesn’t always work out that way…
There are way too many variables involved in the underwriting process… especially for heart disease.
Not only that, but underwriting can also be very interpretive.
We Won’t Settle for Less Than Best Offer
In other words, if I write to any underwriter and tell them examples of how excellent you’re doing with info on your diet and exercise program and I tell them, “by the way, I have a table 2 rating on the table,” this can give me leverage for a better rate/rating right off the bat.
If the underwriter actually likes me, and they are in a good mood on that day, then I may very well be able to save you thousands of dollars!
If you need help in getting best offer and want someone who will FIGHT to get you the best offer possible, call us at 1-800-380-3533, click here to email us or just make a quote request using instant quoter to the right or by using accurate quote link below. Provide your email address and we’ll contact you!
Since 1992, Gordon E. Conwell, III (G3) has helped thousands of ”higher risk” individuals get the best life insurance rate/value. Being a high risk himself, he knows the struggles you’ll face trying to get affordable life insurance. His unique shopping process and underwriting knowledge will result in the best offers, every time!