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The British Heart Foundation says that 7.6 million people in the UK are living with some form of heart condition. Whilst there are still unfortunately a number of deaths from heart-related issues, deaths due to heart issues are falling.

So what does this mean for people with a heart condition who want to take out life insurance?

An insurer is likely to regard your heart condition as an additional risk factor when assessing an application. The good news, however, is that there are insurance companies who will consider people with heart issues. There are clear benefits though to arranging your life insurance with a specialist broker such as Moneysworth.

If you have been declined by one or more insurers because of your previous heart trouble, or you have been told by another broker that your health issues mean you cannot get life insurance, then contact Moneysworth today. We have often been successful in obtaining policies for clients who have been declined elsewhere.

Having a heart condition need not necessarily mean that you have experienced a heart attack in the past. We can also assist clients who have experienced:

  • Angina
  • Angioplasty
  • Aortic Regurgitation
  • Aortic Stenosis
  • Atrial Fibrillation
  • Bicuspid Heart Valve
  • Brugada Syndrome
  • Bypass Surgery
  • Cardiac Arrest
  • Cardiomyopathy
  • Heart Murmur
  • Hole In The Heart
  • Implantable Cardioverter Defibrillator
  • Long QT Syndrome
  • Replaced Heart Valve
  • Tachycardia
  • Transposition of the Arteries

Moneysworth’s highly skilled and experienced team are experts in assisting people with many different mental and physical health conditions to obtain the cover that they need. 

Case studies – how we have been able to help previous clients

Recent examples of where we have been able to obtain cover for clients with heart issues include:

58-year-old man who had experienced a heart attack

  • Experienced a heart attack five years prior to the application
  • Had undergone surgery to open up his right coronary artery and to have stents fitted
  • Continued to take regular medication for two years following the attack
  • As part of the assessment process, the insurer obtained a letter from his cardiologist and also took into account the fact he had qualified as a personal fitness trainer since his attack
  • We found an insurer who was prepared to offer him £190,000 of life cover over five years for £72 per month, which was just over double the insurer’s standard premium for a man of his age

29-year-old woman with transposed arteries and stenosis

  • Her heart issues included transposition of the great arteries and right pulmonary artery stenosis
  • Details of her condition were obtained from a cardiologist at the clinic she attended as part of the insurer’s decision making process
  • She was offered £325,000 of life insurance over 29 years for £81.92 per month by one of the specialist insurers we have access to

47-year-old man with Essential Thrombosytheria

  • He was diagnosed with the condition following a routine blood test three years prior to the application
  • He takes medication on an ongoing basis to control the condition
  • He also had a heart attack back in 2005
  • A stent was fitted in a procedure shortly after his heart attack
  • Unfortunately, a number of providers indicated that they could not provide cover. We were able to find him a policy with a specialist insurer where he is covered for death from causes other than pre-existing health conditions. He has £100,000 of cover over five years for £22.43 per month

33-year-old woman who had undergone a valve replacement

  • Was diagnosed with ‘tetrology of fallot’ at birth and took daily medication to control this
  • She underwent surgery to replace a pulmonary valve in 2002
  • Other medical issues included post-natal depression and a family history of hypertension and Crohn’s disease
  • We found an insurer who would offer her £250,000 of life insurance over 30 years at £28.69 per month, which was just over double their standard premium for someone of her age

44-year-old man who had undergone surgery on two occasions

  • Underwent a bypass operation at just four years of age after being diagnosed with Ebstein’s syndrome
  • Continued to require three-yearly check-ups throughout his life
  • Further surgery was carried out at age 33 – mechanical Aortic Root Valve replacement for Bicuspid valve
  • Takes medication on an ongoing basis to control the condition
  • We found an insurer who would offer him £80,000 of decreasing cover over 25 years at £43.35, which was five times the standard premium for a client of his age

These cases illustrate that it can still be possible to obtain life insurance where:

  • The heart episode has caused the applicant to be hospitalised
  • They have taken regular medication for the condition and remained under the supervision of a cardiologist for an extended period
  • There are different heart conditions for the insurer to take into account when considering the application
  • The applicants had undergone different forms of surgery for their heart issues

If you would like to find out more, then contact Moneysworth today!

Here at Moneysworth, we’re big fans of signposting. What do we mean by that?  

For an insurance provider, it’s about considering consumers’ needs – even if that insurer cannot accommodate the special needs that an increasing number of consumers have.

For example, what happens when a consumer is shopping around for life insurance and they are refused cover because they have a health condition which makes them a higher risk for insurance? This can, often incorrectly, cause consumers to think that they’re uninsurable and to give up looking for cover.

The need for signposting is now being recognised by some health charities

Consumers with health conditions rely on charities for information and guidance to help them overcome the complexities they face, including the difficulties of searching for suitable insurance cover.

The British Heart Foundation (BHF) is the UK’s leading charity for funding research into heart and circulatory diseases and their risk factors. For several years, Moneysworth and other specialist brokers have been listed [1] on the BHF’s website or in its guidance publications. We don’t always know how people find us, but we do know from our conversations with clients that many people come to us after contacting the British Heart Foundation. This is signposting in action!

Insuring the ‘uninsurable’ – a case study:

The review shown at the top of this article was written by a male client in his late twenties who was determined to protect his family’s financial future.

The problem was that, because of his heart condition, he couldn’t find an insurer who would offer him Life Cover. Soon after being born, he’d been diagnosed with a bicuspid aortic valve and coarctation of the aorta. When he was a teenager, he had open heart surgery, followed by a week in hospital and six months recuperation before returning to school.

Ever since then, he’s had annual checks at a hospital, but has no symptoms and doesn’t even need to take medication. He has no other health issues and no family history of heart defects or heart disease. He is able to work in a physical role and has an active lifestyle. Indeed, the reason he has a mortgage is because he has a steady job and income!

Yet every insurer he contacted declined to offer him Life Cover because of his medical history of having a rare heart condition.

After years of unsuccessfully searching for an insurer who would offer him suitable cover, he was signposted to Moneysworth via the British Heart Foundation.

With our specialist knowledge of the insurance market, combined with our medical knowledge, we were able to help the client find the cover he needed to protect his family’s financial future. He successfully applied for and started a Decreasing Life Insurance policy for almost £400,000 to cover a repayment mortgage over 35 years, for just under £50 per month.

Signposting: a little guidance can make a huge difference

Thanks to the British Heart Foundation making the effort to provide appropriate guidance and signposting, many people with heart conditions are able to find Life Cover after they’ve been declined by mainstream insurers.

Notes:

  1. ‘Life insurance with a heart or circulatory condition’ https://www.bhf.org.uk/informationsupport/support/practical-support/life-insurance
  2. Link to customer’s review shown in the illustration: https://www.feefo.com/en-GB/reviews/moneysworth-ltd/5c01683ae4b0d6ca69e0c17c/customer-review-absolutly-amazing-100-recommend?displayFeedbackType=SERVICE

This February is National Heart Month, a time for each of us to reflect on how we can improve the health of our heart. Living with a heart condition can affect not only the individual but their loved ones too.

Having a heart condition has become one of the most common medical problems among clients who ask us to help them find Life Cover.

  • Heart and circulatory diseases cause more than a quarter (26 per cent) of all deaths in the UK; that’s nearly 160,000 deaths each year – an average of 435 people each day or one death every three minutes.
  • There are around 7 million people living with heart and circulatory disease in the UK: 3.5 million men and 3.5 million women.
  • An estimated 915,000 people alive in the UK today (640,000 men and 275,000 women) have survived a heart attack.

Source: British Heart Foundation statistics

Is it possible to get Life Insurance if you have a heart condition?

Finding Life Insurance that suits your needs can be much harder if you’ve had a heart attack, a cardiac arrest or are living with a heart condition. Moneysworth specialise in helping people find Life Cover even if they have a health condition or have been refused life cover elsewhere.  

The most common heart condition we see in our work is a previous heart attack (also known as myocardial infarction). However, over the last seven months, we’ve helped over ninety people with a wide variety of other heart conditions to find life cover. Many of these clients have now successfully started their policy or are currently in the process of applying for cover.

Moneysworth are experts in helping people with heart conditions to find Life Insurance

Over the next few weeks, we’re going to post a series of articles about the circumstances behind some of our clients’ search for life cover: why they needed life insurance, the problems they’d previously encountered when trying to apply for cover elsewhere, and the policy options and prices we were able to obtain for them.

It may surprise you to see how people who are living with a serious heart condition – or even multiple conditions – are still able to find cover, thanks to our team’s expert guidance and assistance.

From 1st July 2018 through to 31st January 2019, Moneysworth helped clients with the following heart conditions to apply for Life Cover :

  1. Angina
  2. Aortic Regurgitation
  3. Aortic Stenosis & Mitral Valve Repair
  4. ARVC (Arrhythmogenic Right Ventricular Cardiomyopathy)
  5. Atrial Fibrillation
  6. Bicuspid Aortic Vale
  7. Bicuspid Aortic Valve & Heart Beat Irregularity
  8. Bicuspid Aortic Valve & Coarctation Of The Aorta
  9. Blocked Artery / Stenosis
  10. Brugada Syndrome
  11. Cardiac Arrest
  12. Cardiac Arrest & Arrhythmia
  13. Coarctation Of The Aorta
  14. Coarctation Of The Aorta & Chronic Heart Disease
  15. Congenital Aortic Stenosis, Bicuspid Aortic Valve & Atrial Fibrillation
  16. Congenital Bicuspid Aortic Valve & Mitral Valve Prolapse
  17. Congenital Heart Defect
  18. Congenital Subaortic Stenosis
  19. Coronary Artery Angina & Angioplasty
  20. Bicuspid Aeortic Valve
  21. Dilated Cardiomyopathy
  22. Endocarditis
  23. Heart Arrythmia
  24. Heart Attack
  25. Heart Attack & PFO Hole Closure Surgery
  26. Heart Attack & Triple Bypass
  27. Heart Attack & Quadruple Coronary Artery Bypass
  28. Heart Murmur
  29. Heart Murmur & Prolapsed Mitrial Valve
  30. Heart Weakness
  31. Hole In Heart & Missing Valve
  32. Hole In The Heart From Birth & Aortic Valve Replacement
  33. Hypertrophic Cardiomyopathy
  34. IHD & Atrial Flutter
  35. LQTS & Tachycardia
  36. Mild Cardiomyopathy & Left Brundle Branch Block
  37. Narrowing Of The Arteries
  38. Paroxsymal Atrial Fibrillation
  39. Paroxysmal AF
  40. Quadruple Bypass
  41. Severe Aortic Regurgitation
  42. Slight Heart Murmur, Enlarged Heart & Atrial Fibrillation
  43. Slight Hole In The Heart
  44. Slightly Enlarged Heart
  45. Suspected Angina, High Blood Pressure & High Cholesterol
  46. Takayasu Arteritis
  47. Transposition Of Great Vessels & Palpitations
  48. Transposition Of The Great Arteries, Pulmonary Stenosis & Coarctation Of Aorta
  49. Triple Bypass & Coronary Artery Disease
  50. Type 1 Brugada & ICD

Yesterday the Advertising Standards Authority listed the 10 most complained about adverts for 2015. Several of the ads related to health issues, including two smoking related advertisements, but the one that really caught my eye was the British Heart Foundation advertisement.

In the advertisement Ben is seated in his classroom at his desk. The classroom is full but his father crouches down in front facing him and Ben asks him why he is there. His father tries to tell him in a quiet voice that he won’t be there anymore and that he is sorry. As both Ben and the viewer try to take in what is being said, the headmaster appears at the door and asks Ben to come outside, by which time you realise that Ben is about to be given the life changing news that his father has died of a heart attack.

Like many when I first saw this advert I found it very moving. The advertisement succeeded in conveying the immediacy of the shock of receiving such terrible news, completely out of the blue. Indeed such is the sudden impact of the shock that Ben simply seems to be trying to process the information he has just been given, as though he has not had time yet to emotionally react or think about what it means. By the time the headmaster opens the door, you feel that you know what is coming next. You are left wondering at how Ben’s life has changed forever in an instant by an outside event over which he had no control. You feel sorry for Ben, desperately sorry.

One reason why this advertisement chimed with me is that I lost my own father prematurely to a heart attack. I was present when the heart attack occurred and I remember sitting with my arm around my mother in the ambulance speeding towards the hospital wondering what the outcome would be. I remember waiting at the hospital as other family members arrived and then after sometime being given the final news. Little did I know then that a number of years later I would experience a similarly shocking event, a phone call in which I would be given the devastating news that another member of my immediate family had died suddenly, leaving a young child.

However the other reason why I think this advertisement is so strong and believable is because it leaves the viewer wondering what the future holds for Ben now that his father has died. My own experience has taught me that the consequences of someone passing on can be profound and long lasting for other family members in all sorts of ways. A sudden death in the family is a game changer for everyone.

I have to confess that when I first saw the advertisement, before I knew the identity of the advertiser, I thought it was advert for life insurance. It is not clear whether or not Ben’s father had life insurance and of course for Ben and his family the first things on their minds would be the funeral arrangements, their grief and their other emotions. However sooner or later practical questions would need answering. How much capital and income will Ben’s mother have? If they have a mortgage is there enough to pay it all off? If not will Ben’s mother have sufficient income to pay the mortgage and keep the family going, or will the family need to move and will Ben have to change schools? What about further down the line as Ben grows older? How will the choices and options available to him match up with what his father would have wished for him? To what extent might those options be limited by a lack of available funds?

In my own case, my father was turned down for life insurance and he was therefore unable to leave any significant financial resource for our family. Thankfully there have been significant developments since then both in terms of the availability of life insurance for people with health conditions and in the medical treatment of heart conditions.

But getting back to the advertisement who were the complainers, why were they complaining and were they right to complain? The advertising standards authority said there were 219 complainers who considered the advertisement to be “distressing for adults and children” (although it seems that steps were taken to avoid showing the advert during children’s programming).

It would not be surprising if the advertisement evoked distress in the minds of some who had lost a close family member or friend and inevitably some people might be upset by what they saw. However just because it might have made for difficult or uncomfortable viewing, does that mean the advert should have been banned? The positive purpose of the advert was to draw public attention to the valuable work of the British Heart Foundation and to show us that heart disease can be fatal with profound life changing consequences. Hopefully the advertisement might have inspired many to consider what now lay ahead for Ben and others like him similarly affected. Viewers might also have been moved to consider what action they might take to reduce their own coronary risks (lose weight, more exercise, stop smoking, etc.) and perhaps to review whether they have sufficient family life insurance protection. Viewers might also consider getting involved in supporting the work of the BHF. For example the Nation Of Lifesavers project aims to make significant improvements in the way the nation deals with cardiac arrests, so as to make a much needed step change in the number of survivors of cardiac arrest outside of hospitals.

Finally, it’s worth mentioning that there is clear evidence in the UK that many families do not carry sufficient life insurance to protect and support the needs of the family should the worst happen. It is frankly astonishing to read various researched reports consistently suggesting that at least 50 % of mortgage holders do not have life insurance to cover their mortgage. One of the reasons sometimes given by those who perhaps should have life insurance but who don’t, is that they don’t like talking about death. But sticking your head in the sand because you feel uncomfortable thinking about death is no excuse for leaving your family and children exposed to the financial consequences of your premature death.

So hats off to the British Heart Foundation for their thought provoking and powerful advertisement. We applaud you!