March 20 2025

Life Insurance After a Heart Attack

Pat McIver Health Insurance, Life Insurance Heart Attack, Life Insurance

According to Statistics Canada, heart attacks or strokes are the second leading cause of death in Canada, accounting for over 53,000 deaths per year.

The worrying part about heart disease is that it rarely shows any symptoms until it’s too late. This is why heart attacks have such high fatality rates and why insurers consider it “high risk”.

Having a heart attack can be jolting. It makes you think about how short life can be and the importance of having some form of financial protection for your loved ones.

For many, a heart attack is a wake-up call – a second chance at life. Thus, it isn’t uncommon for individuals to seek life insurance options shortly after recovery.

But can having a heart attack impact your ability to get life insurance?

In a way, yes.

Depending on your condition, finding a policy can be difficult and often expensive. But, while a heart attack changes things, it doesn’t mean you’re out of options.

Here’s how you can get life insurance to protect your loved ones even after a heart attack!

Table of Contents

Heart Attack & Strokes – Signs & Symptoms

A heart attack or stroke occurs when blood flow to your heart is restricted, usually due to a build-up of plaque (fatty deposits) within your coronary arteries.

Without the flow of oxygen-rich blood, your heart muscles begin to lose steam, resulting in a heart attack.

Heart attacks are also notorious for occurring without warning. Symptoms and signs usually manifest minutes before an attack, leaving little time to get help.

The most common signs of an impending heart attack include:

Chest pain (you will feel pressure or pain in your chest)
Excessive sweating
Pain in your arms, back, neck, shoulders and jaw
Shortness of breath
Nausea
Dizziness

How a Heart Attack Affects Life Insurance

There are usually two reasons why you could have had a heart attack.

You have a family history of heart disease
You have unhealthy habits that are putting a strain on your heart

Even those who have a family history of heart disease can avoid having a heart attack by making lifestyle adjustments, such as eating healthy, exercising, and refraining from smoking and drinking.

In most cases, then, a heart attack occurs because of poor lifestyle choices. Obesity, smoking, excessive drinking, and zero exercise are the leading factors behind heart disease, and insurers know this.

That’s why when you have a heart attack, you raise the brows of insurance providers everywhere. They automatically see you as a higher risk and that means they’ll take a much closer look at your medical history, lifestyle, and overall health before approving your policy.

The severity of your heart attack, how well you’ve recovered, and whether you’ve made healthy lifestyle adjustments will all play a role in determining your eligibility and premium rates.

Here are three key factors that insurers use to assess eligibility and premium rates after a heart attack:

Medical Underwriting: A heart attack signals underlying cardiovascular disease, which means more in-depth medical evaluations. Insurers will want details on your diagnosis, treatment, medications, and follow-up care.
Risk Assessment: Your insurer will evaluate your heart health, lifestyle habits, and any related conditions (like diabetes or high blood pressure) to determine your health risk level.
Premium Adjustments: Increased risk will result in higher premiums. However, improvements in your health over time could help you qualify for better rates down the line.

Types of Life Insurance Available After a Heart Attack

In Canada, you are eligible for life insurance even after a heart attack. However, finding the right policy can depend on your health status, budget, and financial goals.

Here are the main types of policies you can consider:

Term Life Insurance

If you’re in relatively good health post-heart attack, you may still qualify for term life insurance, which offers coverage for a set period (like 10, 20, or 30 years). It’s usually the most affordable option but comes with the risk of needing to reapply when the term ends.

Whole Life Insurance

This option provides lifelong coverage and builds cash value over time. While premiums are higher than term life insurance, they remain fixed, which can be beneficial if you want long-term protection.

Guaranteed Acceptance Life Insurance

If you’ve been denied other policies, guaranteed acceptance life insurance may be your only choice. It requires no medical exam and has minimal health questions, but premiums are a lot higher, and coverage amounts are usually lower than other types of policies.

What Impacts Your Life Insurance Rates After a Heart Attack?

Several factors influence your life insurance rates, including:

Age and Medical Condition: The younger and healthier you are post-heart attack, the better your chances of securing an affordable policy. Insurers look at your overall health, not just your heart attack history.

Smoking Status: Smoking increases your risk of another heart attack, making you a higher-risk applicant. If you quit, you may qualify for lower premiums after a certain period.

Family Medical History: Genetics play a role in heart disease. If you have a family history of heart conditions, insurers may factor this into their risk assessment.

The Life Insurance Application Process After a Heart Attack

Applying for life insurance post-heart attack involves a more detailed underwriting process.

Here’s what to expect:

You’ll need to provide your full medical history, including details about your heart attack, medications, and follow-up treatments.
Insurers may ask for medical records, stress test results, echocardiograms, and cardiologist reports to assess your heart health.
The underwriting process may take longer than usual—typically 4 to 8 weeks—depending on the complexity of your medical history.

How to Get the Best Life Insurance Rates After a Heart Attack

Even with a history of heart disease, you can still take steps to secure the best possible coverage and premiums:

Improve Your Health: Engaging in cardiac rehab, maintaining a heart-healthy diet, exercising, and managing stress can positively impact your health and insurance rates.
Adjust Coverage Based on Budget: If premiums are high, consider adjusting the coverage amount or term length to find a balance between affordability and protection.
Work with an Insurance Broker: An insurance broker can help you compare multiple policies and find insurers that specialize in covering people with pre-existing conditions like heart disease.

Preparing for the Future: Long-Term Life Insurance Considerations

Once you’ve secured a policy, it’s important to periodically review and update it to ensure it meets your evolving needs.

As your health improves or your financial situation changes, reassess your coverage to ensure it still provides the protection you need.

Also, consider how your life insurance fits into your broader financial plan, including wills, trusts, and inheritance or estate planning.

Finally, ensure your loved ones understand your policy and how to access benefits when needed.

FAQs

Q1) Can I get life insurance after a heart attack?

Yes, but it depends on the severity of your heart attack, your overall health, and the type of policy you apply for.

Q2) What type of life insurance is best after a heart attack?

It depends on what you are looking for. Term life insurance is the most affordable option, whole life offers lifelong protection, and guaranteed acceptance policies provide lower coverage without a medical exam.

Q3) How does a heart attack affect my life insurance premiums?

Insurers see a heart attack as a risk factor, so premiums will likely be higher. However, maintaining good health can improve your rates over time.

Q4) What can I do to lower my premiums after a heart attack?

Quit smoking, manage your weight, exercise, follow your doctor’s recommendations, and work with an insurance broker to find the best policy.

Q5) How often should I review my life insurance policy after a heart attack?

At least every couple of years or after major life changes like improved health, marriage, or changes in financial goals.

Getting Life Insurance After A Heart Attack

Acquiring life insurance after a heart attack can be challenging.

But it doesn’t have to be.

With a trusted insurance broker like McIver Insurance Inc. by your side, finding the right coverage can be easier than you think.

We specialize in helping Nova Scotians with chronic illnesses find life insurance policies that give them much-needed peace of mind.