If you experience a sudden health event, such as an aneurysm, you may wonder how it may affect your life insurance rates and eligibility. An aneurysm is a bulge or ballooning in the wall of an artery. It occurs when a weak area in the artery wall expands due to the pressure of blood flowing through it. Aneurysms can form in various parts of the body, including the brain, heart, and abdomen.
Fortunately, you can still get life insurance after a serious medical event like an aneurysm, but you may encounter unique challenges regarding cost and eligibility. In this article, we’ll discuss how having an aneurysm impacts your ability to qualify for life insurance, as well as the best types of life insurance for people who have had an aneurysm.
How does having an aneurysm affect your life insurance eligibility?
There are several factors that insurance carriers might consider when evaluating your life insurance eligibility after an aneurysm. These include:
Type of Aneurysm: Carriers will consider the type of aneurysm you had when evaluating your risk level. Aneurysms can occur in your heart, abdomen, brain, or legs, and the location where they happen determines the type.
Treatment History: Carriers will also consider how your aneurysm was treated. If it didn’t require surgery or additional treatment beyond regular monitoring, you will likely have more favorable rates.
Length of Time Since the Aneurysm: Underwriters will want to know when you experienced your aneurysm. Someone who had an aneurysm in the last six months, for example, will have more difficulty qualifying for coverage than someone who had one five years ago.
Best Types of Life Insurance for People Who Have Had an Aneurysm
People who have had an aneurysm may still qualify for traditional term or permanent life insurance, depending on factors like the type of aneurysm, how long it’s been since you had the aneurysm, and whether or not it resulted in additional health complications.
If your aneurysm history does affect your eligibility for traditional life insurance, you can explore other types of coverage that have less stringent medical underwriting, such as final expense insurance, which includes different policy options such as:
Guaranteed Issue Life Insurance: If you’re between the ages of 45-85, you can’t be denied guaranteed issue coverage. You also will not need to undergo a medical exam or answer questions about your health status or history, making it a good option for people who have had a serious medical event like an aneurysm.
Simplified Issue Life Insurance: While simplified issue coverage isn’t guaranteed, it has far more relaxed eligibility requirements than traditional life insurance. Simplified issue policies usually require a short health questionnaire as part of the application, but they do not require a medical exam.
Critical Illness Life Insurance: Critical illness life insurance is a type of policy that provides a lump sum payment if the policyholder is diagnosed with a serious illness covered by the policy. This coverage typically includes illnesses such as cancer, heart attack, stroke, and organ failure. This type of coverage can help provide additional peace of mind if you’re at risk of future health complications as a result of your aneurysm. Just like guaranteed issue and simplified issue life insurance, critical illness policies don’t require a medical exam.
Remember, each case is unique, and insurance options can vary significantly based on individual circumstances. It's crucial to shop around and compare offers from multiple insurers to find the best coverage for your specific situation.
SelectQuote Can Help You Find the Right Life Insurance for Your Situation
Finding life insurance after an aneurysm can feel intimidating, but it’s easier with a licensed insurance agent from SelectQuote on your side. We have experience and knowledge helping people with medical conditions like a history of aneurysms through decisions about coverage. We’ll take the time to learn about your unique situation so we can find the right fit for you from one of the many trusted carriers we work with.
