Cardiomyopathies are a group of heart muscle disorders in which the heart can no longer receive or pump blood effectively throughout the body.
They can be caused by other diseases or idiopathic (unknown cause).
The risks associated with cardiomyopathy can include fainting, breathlessness, fatigue, angina, and, most importantly, sudden death from an insurer’s point of view.
In this article, I’m going to try to answer some of the questions that are running through your head like:
Where better to start than at number 1:
You’ll be relieved to hear that the answer is yes, you can get life insurance with cardiomyopathy, but it’s not straightforward.
And you will have to pay more for your cover than someone in perfect health.
How much more you will have to pay is called the life insurance loading, and I won’t know how much this is until the insurer reviews your medical report.
If you’re under forty, it’s going to be way more difficult than if you’re now in your 40s. Only in the mildest of cases will the insurer offer cover to someone under forty.
If you’re under 35, you won’t get cover, I’m sorry.
Unfortunately, none of the insurers can offer cover if you have had an Implantable Cardioverter Defibrillator (ICD) or pacemaker fitted, regardless of your age.
First things first, contact a specialist life insurance broker who knows what he’s doing and can steer you in the right direction. Do not apply through your bank; do not apply directly to an insurance company as they are likely to decline.
You’ll have to fess up about the previous decline in all subsequent applications. Underwriters are already uber-cautious regarding cardiomyopathy, so it’s best to apply with a clean slate.
If you’d like me to help, please complete this questionnaire.
Once the insurer receives your form, they’ll write to your GP for a life insurance medical report.
HCM is diagnosed based on medical history (your symptoms and family history), a physical exam, and echocardiogram results.
The full gamut of tests include
The echocardiogram is the most important. If you have a copy of this, I’ll be able to tell you if it’s worthwhile making a full application or whether the insurers will decline you.
That’s where I come in.
Before I recommend an insurer, I will speak to all 5, so I know which one is most likely to offer you cover at the best price in the least amount of hassle.
I don’t just apply to the cheapest and hope for the best.
If I don’t think I can get you cover, I won’t waste your time.
Yes, if you get cover, you will be covered for death due to any illness. The insurer won’t exclude death due to a heart disorder.
This depends on your GP.
The insurers are very quick to decide once they have your medical report, but it can take weeks for your GP to complete and return the report. If you decide to apply through us, we’ll keep an eye on it every step of the way and do all we can to speed the process up.
On average, it takes two weeks from the date we receive the application to the date the insurer makes a decision. If your GP is on the ball, the process can be quicker.
It’s another “it depends” answer, I’m afraid.
The two main factors that affect the cost of life insurance with cardiomyopathy are:
There are three main types of inherited cardiomyopathy:
Another type of cardiomyopathy, Takotsubo cardiomyopathy, can be caused by extreme stress. This type is not passed on through families and often disappears in time.
Other, specialised types of cardiomyopathy include:
Some people who have cardiomyopathy never have signs or symptoms. Others don’t have signs or symptoms in the early stages of the disease.
As cardiomyopathy worsens and the heart weakens, signs and symptoms of heart failure usually occur. These signs and symptoms include:
Other signs and symptoms may include dizziness, light-headedness; fainting during physical activity; arrhythmias (irregular heartbeats); chest pain, especially after physical exertion or heavy meals; and heart murmurs. (Heart murmurs are extra or unusual sounds heard during a heartbeat.)
At best, with mild, asymptomatic hypertrophic cardiomyopathy (that’s a mouthful!), your premium will be double what someone in perfect health will pay.
If you’re showing symptoms of cardiomyopathy, then it’s like to be a decline.
It’s tricky but not impossible to get life insurance with cardiomyopathy as long as you apply to the most sympathetic insurer.
If you’d like some help choosing the best insurer for you, please get in touch by completing this questionnaire or if you prefer, call me on 05793 20836.
Try not to worry, I’ve arranged some policies for our clients with cardiomyopathy, but I have seen many declines too, unfortunately – if the cover is at all possible, I will get it for you.
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