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Can you still get life insurance if you have a pacemaker?

Pacemaker Life InsuranceIf you have a pacemaker you can still get life insurance. You may find that it is very difficult to find coverage; fortunately, it isn’t impossible. This article may just help you find a way to get the life insurance policy that you want even though you have a pacemaker in place.

Finding pacemaker life insurance is not impossible but it can involve some research so be sure and enter your zip code above to get started comparing life insurance quotes from many different insurance companies!

It Depends on Your Situation

For some people a pacemaker is used to correct arrhythmia or bradycardia that are permanent conditions that may lead to more health problems in later years. For others a pacemaker might be used as a temporary solution to a heart problem that can be corrected by surgery or as an alternative to a surgical procedure. If the condition isn’t considered to be one that will create other health problems then the insurance company will probably offer you life insurance.

In addition, your age may be a major factor for getting life insurance. For example, if you are a 20 year old woman with arrhythmia and a pacemaker, it is far more likely that you will qualify for life insurance than someone in their 50’s with the same problems. It takes many years for health to worsen and many insurance companies believe that a person in their 20’s can contribute sufficiently to a policy for an insurance company to pay the benefit upon their death.

Another thing that you will need to consider are the terms that some insurance companies will place on people looking for a life insurance policy who have had a pacemaker successfully implanted. In many cases, insurance companies will be unwilling to insure anyone who has had their pacemaker for less than six months.

No matter the specifics of your situation the insurance company is going to need a lot of information. They will need to know when the pacemaker was implanted. The next thing they will want to know is what sort of heart condition you suffered from to require a pacemaker.

With at least seven known conditions that require a pacemaker, ranging from minor to gravely serious of situations, it is important that the insurance company knows exactly what condition you suffer from. Lastly, it is common for an insurance company to ask what type of medication you are taking related to your heart condition and pacemaker procedure and what, if any, complications have arisen following the pacemakers implantation.

NOTE: Some insurance companies will provide a policy with a stipulation that excludes death from certain conditions. For example, congestive heart failure may be excluded from the policy so that they don’t have to pay your beneficiaries if you die from a heart related problem, especially if it was contributed to by your previous heart issues. If this is the case, you may want to ask for the option of having the premiums you paid to the insurance company paid back to your beneficiary in the even you die from an excluded event.

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It Depends on Where You Live

Unfortunately, many standard insurance companies will not provide you with an insurance policy if you have a pacemaker to ensure that your heart beats at the speed and intervals that it is supposed to. Depending on where you live, your state may have programs in place to help people just like you get life insurance despite your condition.

The easiest way to determine whether or not your state has a program in place is to contact your state’s Department of Insurance. In addition to providing you with information on how to get life insurance with pre-existing conditions, they may also provide a list of insurance companies that offer life insurance to individuals

Your Other Life Insurance Options

Some states have no options available to you, which can be very frustrating, but don’t throw in the towel just yet. If you work for a company that has a health insurance option, then they probably have a life insurance option as well. Talk to your HR department about purchasing life insurance through your company’s group health plan. Because it is a group type policy, you won’t have to submit yourself to any physicals and there will be no health questions to answer. In addition, you can’t be denied life insurance this way. You may find that the premiums are a bit higher using this method, but life insurance is a valuable investment.

Term Life Insurance for Pacemaker Patients

In addition, you may find that you can get term life insurance in lieu of whole life insurance. While many people prefer the whole life option because eventually it has cash surrender value, this may not be an option for you if you have a pacemaker. A term life insurance is only valid for a specific amount of time, anywhere from 5 to 30 years generally. There is no cash value to this type of policy. So if you outlive the term, you get nothing.

Whether you qualify for this option will depend on the insurance company and how healthy you are outside of your need for a pacemaker. The insurance company wants you to live for the full term of your term life policy and if it appears that medically there isn’t a high risk for them insurance you, then they likely will. This is an excellent option if you have kids and you want to ensure that they are provided for in the event of your death. When they become adults you don’t need to provide for their care and as such your life insurance needs will change dramatically.

Single Premium Policies for Pacemaker Patients

In addition, you can choose a single premium policy options. Now, this is a pretty expensive option as you pay for your life insurance policy, with a single payment. Because you have paid in full, the insurance company isn’t as concerned about your health risks. The truth is, if you have that amount of money to pay to the insurance company then you may benefit just as well by buying annuities, bonds, or investments that yield guaranteed results. The biggest difference is that your beneficiaries won’t have to pay taxes on a life insurance policy benefit and will have to pay taxes on the investments that they inherit.

The bottom line is that the more health issues you have the higher a risk you appear to be to an insurance company and the more difficult and expensive it is to purchase life insurance. You may have to shop around extensively for life insurance to find an option that is affordable; however, it will be worth the time.

To make that search go faster, you should start with a rate quote tool. You will find a link at the top of the page and it will lead you to a page with a series of questions for you to answer. Once you have finished the questionnaire, you will receive instance quotes from multiple sources. You can change the coverage amounts and the type of insurance if you want different results and to compare your different options. The life insurance tool is free and easy to use, so enter your zip to start right now!

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