Hi!
I am 31 years old and for the most part healthy. I’m actually a licensed agent myself with state farm and I’m running into problems finding life insurance for myself. I have a implanted cardiac defibrillator due to a genetic heart condition. Every life insurance policy we offer I am ineligible for, not because of the heart condition but because of the defibrillator. I’ve reached out to a broker and the same goes for their policies.
Does anyone have any suggestions?
Implanted defibrillators are almost never insurable with any carriers. In the past 32 years, I’ve only gotten an exception three times for people with ICDs that never “fired” and had no confirmed cardiac arrest. In those cases, the defibrillator was put in as a precaution.
Each of those policies was rated higher than standard rates, and the carrier that offered them, Zurich Life, no longer offers individual life insurance in the U.S.
There are some guaranteed issue or group policies available in certain states, but the maximum coverage is usually $50k to $75k, and these aren’t ideal for life insurance.
Thank you! I figured that would be the case but thought it never hurts to ask. Mine has fired before so I guess I’ll just have to hope I don’t die before I retire for my fiancé’s sake.
Like the other comment, you could definitely do a guarenteed issue whole life. better than nothing!
Thanks! The no-medical-questions policies from State Farm are only for people 45 or older. Do you know of any companies that offer this to someone who’s 32?
I’ve heard Ethos offers guaranteed issue for younger people, but you need to apply directly rather than just getting a quote. As a broker, I’m waiting on 7 new carriers I’ve contracted with. This is exactly the type of situation I’ve been looking into—GI for those under 45. Try Ethos, and if it doesn’t work, I’ll check back with more information soon.
Thank you! i really appreciate 