While it’s extremely rare for any cancer survivor to get a preferred plus life insurance rate, it can happen……
We got inquiry from a 69 year old gentleman who had surgery for oropharyngeal cancer 13 years ago, and he’s been in remission since.
His health was really good otherwise, but we still quoted him standard rates, and told him we’d apply for better rate class but were not comfortable quoting him lower rates…..as we never want to be accused of “lowballing” anyone.
This is definitely our coronary artery disease case of the month, may even be the case of the year as far as how much money we saved this gentleman….
This 69 year old gentleman who had 2 stents and a heart attack a year and a half ago, applied for a $350,000- 15 year term life insurance policy (through another agent). He qualified for a monthly rate of $1,392.
This rate was much higher than he was expecting, but his agent told him this is the best rate he was going to get.
He found our website and based on the info he provided including his heart attack with 2 stents and considering he had a good stress test within past 12 months (which always helps on CAD cases), we were confident we could get him a much better offer than $1,392 per month.
This is a great example of a diabetic life insurance case for which both oral medication and insulin are used…..
and how the unexpected can often turn up in underwriting, but how you may also save $26,668, or significant money, if you deal with the right agent!
We were contacted by this 58-year-old male’s wife and she answered all questions for him.
He was diagnosed with diabetes 3 years ago, she believed his recent A1C’s were in 6’s, he used both insulin and oral medication, never had any diabetic complications, he was 6′ -225 pounds and “never had cancer or any other significant problems”.
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……they may even tell you “NO company will beat this offer”.
Keep reading and you’ll see how these comments are often times wrong!
We shop really tough cases every day and we even still get surprised at the different offers that two different companies will make to the same person.
While we have been able to insure many of the “uninsurable” in the past, there are some issues which will cause 99% of all life insurance companies to automatically decline.
Even though there are more and more insurance companies that tend to specialize in insuring certain ailments, and these companies can make significantly better offers in their niche compared to other insurance companies, some issues are really tough to insure with the “regular” insurance companies.
If you’re having trouble getting approved for life insurance, you’re not alone!!
What prompted to me to write this is an extremely angry gentleman who called me last week.
He had applied to a well-known life insurance company 2 months ago, because he was required to have life insurance for an SBA loan.
This insurance was supposed to be in force and assigned to the lender by now and his loan request is about to be declined due to the insurance not being in force yet.
Since I also do business regularly with this same insurance company he already applied to and I wanted to help this gentleman, I contacted a friend of mine at this company to find out what the holdup was.
CLICK HERE TO GET ACCURATE STENT(S) OR BYPASS QUOTE
Almost everyone who’s had coronary artery disease (CAD) and who has had a stent, stents or bypass surgery is insurable for life insurance, but the cost can vary greatly depending on your exact CAD diagnosis, how well you’re doing since treatment and your overall health otherwise.
You could possibly qualify for “Regular” or Standard rates if you’ve had no heart attack and if your health is good otherwise, you were diagnosed over the age of 50 (the older, the better), you only have 1 or 2 coronary arteries other than the left main (LM) or left anterior descending (LAD) arteries that were involved, all of your cardiac check ups since onset have been good, including a good recent stress test (completed within past 18 months).
If you were diagnosed with CAD before the age of 50 and/or if you have had a heart attack with no significant heart damage and ejection fraction of 50% or higher, with only 1 or 2 coronary arteries involved, you could qualify for a policy with a slight table 2 or 3 rating or additional charge.
If you’ve had a heart attack or were diagnosed with coronary artery disease prior to the age of 40, if your CAD involves 3 or more of your coronary arteries or if you’ve had multiple incidents of CAD, then many insurance companies will decline you or you’ll be more highly “rated” or charged a table 4, 6 or even 8 rating than you would for less severe disease.
If you have had a heart attack with more significant heart damage and your ejection fraction is less than 50%, if you have recurrent chest pain after treatment, had an abnormal stress test after treatment or if you have multiple issues like CAD and diabetes or CAD and a stroke, many (but not all) insurance companies with decent rates will decline you, regardless of how many coronary arteries were involved.
“High risk” or guaranteed issue companies will still offer you coverage, but it can get expensive and the insurance could have a limited death benefit payout if death occurs in the first 2 or 3 policy years and is caused by heart disease or another disease/illness.
CLICK HERE TO GET ACCURATE STENT(S) OR BYPASS QUOTE
Shopping CAD cases is not easy, especially when only relying only the answers to questions that you provide.
Most people don’t know the specifics about their cardiac history that the insurance companies will need to provide an accurate quote. I don’t know every detail that shows up on my echocardiograms, so I understand most people are not going to know a lot of detail.
Things like which vessels were bypassed or stented, what was the percentage of blockage in your vessels prior to intervention, what’s your current ejection fraction, etc.
Click Here for Accurate Heart Condition Quote
If given the opportunity, we do everything we can to get anyone with a heart condition the best life insurance rate and value.
While the majority of the heart patients we do business with do qualify for the rates we quote up front, there are times when higher rates are offered.
The problem in quoting up front is that we usually need to rely only on the information that you give us to quote accurate rates and to choose the best insurance companies for you.
So you need life insurance for an SBA loan. That’s no problem, but how do you get the best rate and coverage to fit your specific need?
Then how you do know you’re getting the best rate and coverage available?
There’s close to 1,000 life insurance companies that offer insurance in the United States, but only about 121 of these will offer the best rates and products for the general population.
The number of insurance companies gets smaller if you’re only looking for a term insurance policy to cover an SBA loan.
If you need life insurance and you’re very overweight or obese and don’t want to have an insurance exam with your height and weight measurements taken, then we have a solution for you.
You probably already know that being overweight will have an impact on the cost of your policy or it could result in you being declined altogether.
Fortunately, we can offer you insurance from a couple carriers that currently have no height/weight requirement.
The best one of these companies will currently offer you a maximum of $150,000 and the rates are surprisingly competitive.
