For some people, finding life insurance coverage can be fairly easy. It is a simple process of filling out the application paperwork, going through the medical examination, and then waiting for the approval from the insurance company.
Others, however, may not be so fortunate. This is because they may have certain health issues such as Myocarditis that can have an effect on their life insurance coverage. Because of this – depending on the severity of the condition – the life insurance underwriters may determine that the coverage should be “rated,” and in turn, charge a higher amount of premium. Or, in other instances, the person may even be denied coverage altogether.
If you’ve been in this situation, there is some good news if you are in the market for life insurance. Seeking the coverage that you need can be made a much easier process by working with a specialist in the high-risk life insurance area. In doing so, you will be able to directly key in on carriers that are much more apt to insure an applicant with an adverse health condition.
How Myocarditis Can Affect Your Life Insurance Application
Myocarditis is described as a health issue that causes damage and inflammation to an individual’s heart muscle. While the specific cause of this disease is not readily known, there are several thousand individuals who are diagnosed with this condition every year in the U.S.
The condition can come about those who are otherwise healthy, and in fact, in an estimated 5 to 20% of young adults who pass away suddenly, myocarditis is believed to be a cause.
There can be a number of different reasons why someone may contract myocarditis. These may include a viral infection or an autoimmune disease, as well as a reaction to medication, or even environmental toxins.
Myocarditis can often be difficult to detect in an individual – as it is a rare condition. Some common symptoms of myocarditis include shortness of breath during exertion or exercise that may develop within a week or two following a viral illness, which can progress to shortness of breath at night.
Additional symptoms can include heart palpitations and / or chest pain or pressure, as well as fatigue. The individual’s legs may also become swollen. In some rare cases, the individual may even lose consciousness due to his or her abnormal heart rhythms.
Some of the ways in which myocarditis is typically detected in an individual include a chest x-ray, an electrocardiogram, an echocardiogram, a cardiac magnetic resonance imaging scan (or MRI), or even through a heart biopsy.
One of the key long-term effects of this condition for someone who contracts it is chronic heart failure. And because of this, an individual who has myocarditis can have difficulty in qualifying for life insurance coverage.
What the Life Insurance Underwriters Will Want to Know About Your Health Condition
With myocarditis, you will be required to fully complete an application for coverage. The application will ask for basic information such as your age, gender, height and weight, overall health history, and smoking status.
However, due to your myocarditis condition, the underwriters will also need to know more in-depth information. Below are some examples of what an underwriter could ask you.
- When were you initially diagnosed with myocarditis? Because myocarditis can be a preventable condition, it can be managed if it is detected early. If, however, the condition goes on for a long period, it is more likely that you may have complications.
- Do you take any medication for your condition – and if so, what medication, and what is / are the dosage(s)? While certain medication can be helpful in managing or controlling your myocarditis, there are some that may also cause additional inflammation of your heart muscles – which in turn, can worsen your condition.
- Have you experienced any symptoms of infection within the past six months? If you have experienced any flu-like symptoms over the past six months, and / or any other symptoms such as nasopharyngitis or tonsillitis, these may be signs that you have a condition known as Cardiomyopathy – a warning signal of a progressing condition. This may require the life insurance underwriters to do some additional evaluation before rating your policy.
- Have you had any relevant diagnostic or lab tests performed over the past year? If you have had any relevant diagnostic or lab tests performed over the past year such as an ECG, CRP, and / or cMRI, then the life insurance underwriters may wish to review these in order to assist them in making a more informed decision regarding your life insurance policy. (Having these tests performed also shows the insurance company that you are working to manage and control your condition).
- Do you meet regularly with your cardiologist for check-ups? Meeting regularly with your cardiologist also shows the underwriters that you are working to manage and control your condition.
In addition to the application and additional condition-related questions, you will also likely be required to undergo a medical examination. You will also be asked to submit a blood and a urine sample. These will also be tested for certain risk factors by the life insurance company.
The life insurer may also want to review other information, too, such as your medical records from your primary care physician. Before doing so, however, the insurance carrier will require written permission from you in order to acquire them.
How Much Will Your Insurance Policy Cost with Myocarditis?
Because myocarditis is a health condition that affects the heart, it is considered serious – and because of that, life insurance companies will take a close look at an applicant who has this particular health issue prior to moving forward with an approval.
There are some criteria that go into the price of a person’s life insurance premium. These will include the type and the amount of insurance coverage, as well as the age and gender of the insured.
When applying for life insurance with myocarditis, the severity of your condition will also play a role in the cost of your premium. In this particular case, it may be possible to qualify as a mild substandard, provided that you are otherwise in good health, and that you visit your cardiologist regularly in an effort to manage your condition.
If, however, you are unable to qualify for life insurance with a medically underwritten policy, there are still other alternatives. For example, a no medical exam life insurance policy may be another viable option.
How and Where to Obtain the Best Life Insurance Premium Quotes
When seeking life insurance with myocarditis, it is typically best to work with a company or an agency that has access to more than just one life insurance carrier. That way, you will be able to compare the options of several different insurers. Ideally, you should work with a high-risk insurance specialist.
We understand that finding life insurance with any type of adverse health issue may seem somewhat overwhelming. But the good news is that today, you have many options on your side – especially when you have a high-risk life insurance specialist to guide you. We’d love to be your agent, giv us a call today!