You probably already know that you can find whole and even term life insurance policies for seniors, but can older applicants still get life insurance after a heart attack? While older people who have recovered from a serious health problem are not likely to get the cheapest life insurance rates, they can find coverage. The best type of coverage depends upon the applicant’s age, current health condition, and the insurer they use.
Finding the right life insurance policy for seniors does not have to be difficult. This is true if you are shopping for elderly parents or yourself. Simply enter your local ZIP code in our free online quote form. After you browse a list of the best life companies in your area, you are also free to call us and speak with an experienced life insurance agent.
Term Life Insurance for Seniors After a Heart Attack
You might be able to find no medical exam life insurance for seniors, but your are not likely to find a simplified issue policy that accepts applicants who have suffered a recent heart attack. Some no medical term life companies accept older applicants in their 60s or even 70s, but underwriting guidelines might still be fairly strict.
All insurers are slightly different, but these are some things to keep in mind about no medical exam life insurance for seniors:
- After about 24 months or good recovery, it might be possible to get accepted for a modest amount of term coverage without taking a physical.
- It is very likely that insurers who would consider such an applicant without a physical would ask for a doctor’s statement. They use this to confirm that the individual is recovering and has a healthy lifestyle.
Some term life insurance providers who would consider an applicant who has had a heart attack or other severe health problem, but they would still look unfavorably upon those applicants who were still smokers or weighed a lot more than average people of their height. One risk factor might not keep seniors from getting affordable term policies, but a combination of risk factors, like tobacco use or excessive alcohol consumption, could be a problem.
What About Life Insurance for People with Recent Heart Attacks?
People with more recent medical incidents or serious health problems might turn to a guaranteed issue policy. These policies do not require physicals, and they do not even ask any health questions. You might wonder how the best life companies can afford to offer insurance to anybody who wants a policy. We can also help you find life insurance if your over age 80.
Unlike other insurance policies, these do not offer an immediate death benefit. The insured person has to survive a waiting period that might last two or three years before his or her beneficiaries can collect the full face value. Before that, these types of policies usually offer to pay some percentage of the face value or refund premiums. While it is better to find coverage with an immediate death benefit, this might be the only option for some relatively unhealthy senior citizens who want life insurance.
Can You Buy Life Insurance for Elderly Parents?
You can certainly help your elderly loved ones shop for a policy, and you can even offer to pay the premiums. However, the insured person will need to be involved in the application process. In many cases, they can do their part online, through the mail, or over the phone.
We Want to Help You Find the Best Life Insurance for Your Family
We offer free life insurance quotes, and you simply have to enter your ZIP code to access them. You can browse top insurers that offer good plans in your local area. If you have questions or need help enrolling, feel free to contact us to speak with an experienced life insurance agent. We always strive to offer the right tools and services to help our clients find great insurance choices.