Heart Disease and Heart Attack Life Insurance

Life Insurance after Heart Attack or with Heart Disease

While it is not impossible to get life insurance after a heart attack – it can be challenging.

Most insurers view cardiovascular diseases as high-risk medical conditions. Every year, around 57,000 Australians suffer a heart attack, making it the leading cause of hospitalisation and death in the country. While medicare can help you with the medical expenses, the financial impact on you and your family can be significant.

At Special Risk Managers, we specialise in helping Australians get life insurance with heart disease. When most insurers turn their backs on you, that is where we come in. We believe that you and your family deserve financial and income protection – especially when you have a pre-existing medical condition.

Insurance and Heart Disease In Australia

Heart Disease (often referred to as Cardiovascular Disease or CVD) is a leading cause of premature death in Australia. As a result, many Australians have had the misfortune of having their insurance applications declined.  

If you have suffered heart disease in the past, the insurers can become more stringent in evaluating your application and may offer less flexible policy terms.  

Depending on your desired type of life insurance policy, it will pay either a lump sum or monthly benefits when you are severely ill, injured, or in case of death. The benefits from your policy can help you: 

• Temporary replaces your income 

• Financially support your family 

• Source of funds for medical and hospital bills 

• Source of funds to pay outstanding debts 

Today’s medical advances and better insurance underwriting allow Australians with pre-existing medical conditions to get coverage. Seeking assistance from insurance experts who specialises in high-risk clients can increase your chance of getting policy approval. 

Special Risk Managers have decades of experience helping individuals with heart disease obtain life insurance coverage.

Key Factors When Evaluating Life Insurance After Heart Attack

• Time since your last heart attack: Typically, most insurers require a waiting period of at least six months from your last heart attack before applying for cover. 

• Severity of your condition: Detailed clinical evidence from your cardiologist outlining the reduced heart function. It can be considered severe when two or more arteries have significant obstruction. 

• Your ongoing treatment: Your treatment can also indicate the severity of your condition and whether you are already insurable. 

• Current cardiac health: Insurer will review your current cardiac test results, such as EKG, echocardiogram, and stress tests. You will need to provide us with your latest results. 

• Medical checkups and compliance: The insurer may also check your cardiologist’s reports and notes. Whether your condition is responding to treatments, there are changes in your lifestyle and diet. 

• Additional health issues: If you have other health conditions, such as hypertension, diabetes, or high cholesterol may be elevated after a heart attack.  

• Age and family history: Your age and whether one of your family members has a history of heart conditions can influence the insurer’s underwriting. 

• Not all cover is equal: Income Protection is far more difficult to obtain than life insurance; the same can be said for Total and Permanent Disability Insurance.

Why Choose SRM To Obtain Heart Disease Life Insurance

Life insurance is a complex industry to deal with on its own. Trying to get life insurance after a heart attack or with heart disease is a much more complicated process – as insurers tend to lean on healthier individuals. 

It is on this premise that Special Risk Managers was formed. We understand the market’s need for expert life insurance and income protection advice for individuals with pre-existing medical conditions. Our team has decades of experience working with Australians who have serious medical conditions. 

Our services include: 

• Initial assessment of your financial situation and medical condition. 

• Find insurers that can provide cover for your condition. 

• Help you evaluate your policy options and provide you with a customised and tailored insurance advice. 

• Assist you in your policy application. 

• Conduct financial health checks to ensure you are sufficiently covered.