Hypertrophic Cardiomyopathy life insurance
The facts about getting life insurance with Hypertrophic Cardiomyopathy
Hypertrophic Cardiomyopathy is a condition in which a portion of the heart becomes thickened. This results in the heart being less able to pump blood around the body effectively. Symptoms vary from none at all, to fatigue, leg swelling and shortness of breath. The condition may also result in chest pain or fainting. If you suffer from Hypertrophic Cardiomyopathy, taking out Hypertrophic Cardiomyopathy life insurance may be a worthwhile option.
What does Hypertrophic Cardiomyopathy life insurance cost?
If you suffer from Hypertrophic Cardiomyopathy and need life insurance then you will need to provide insurers with information about your condition. Insurance underwriters will assess your application for Hypertrophic Cardiomyopathy life insurance based on the following:
- The age you were first diagnosed
- Current treatments being undertaken
- Medications taken
- Whether you have been hospitalised as a result of your condition
- The severity of your symptoms
- Underlying health problems
Your premiums for Hypertrophic Cardiomyopathy life insurance will also depend on:
- Sum assured (£’s)
- Term of cover (years)
- Type of policy (e.g. Family, Mortgage, Whole of Life etc.)
Hypertrophic Cardiomyopathy life insurance rates/ratings
Rates for any non-standard cover such as Hypertrophic Cardiomyopathy life insurance will vary from one insurance provider to another, depending on their underwriting philosophy. Insurance providers use a risk-based scale to determine the amount you will pay for your cover which uses a ‘percentage loading’ or ‘£’s per mille loading’. All insurance companies have their own underwriting criteria, which will also change over time so can be difficult to predict unless you regularly speak to them.
Percentage (%) loading for Hypertrophic Cardiomyopathy life insurance
A percentage loading basically applies a % to your standard premium based on the levels of risk calculated for your own circumstances. Your percentage loading will apply a multiple to your Hypertrophic Cardiomyopathy life insurance premium, which will be based on your health at the time of your application. You should also know that some insurance providers have different maximum levels to others, so some are prepared to take on higher risks (e.g. 250% or 400%).
Per mille loadings for Hypertrophic Cardiomyopathy life insurance
You may also find that a ‘per mille loading’ could be applied to your Hypertrophic Cardiomyopathy life insurance premiums, but this is more rare and only tends to be used for more severe conditions such as Cancer. A ‘per mille loading’ will be an additional amount that is applied to your premiums which is based on the amount of cover you are applying for (e.g. £2 per thousand £’s of cover). The other difference with a ‘per mille loading’ is that it can be applied for the whole term of your Hypertrophic Cardiomyopathy life insurance policy or for a period of time from the start of your policy (e.g. 2, 3, 4 or 5 years).
Another potential outcome when applying for a non-standard cover such as Hypertrophic Cardiomyopathy life insurance is for an ‘exclusion’ to be applied to your policy. This means that you may have certain conditions which can be linked to your condition excluded from your policy.
It is difficult to say how much cover you need when you are applying for a Hypertrophic Cardiomyopathy life insurance policy. There are however some simple rules that you can follow which will give you a good idea of how much cover you need before you apply.
Almost all applications for Hypertrophic Cardiomyopathy life insurance will be subject to additional underwriting, which will almost always require you to provide medical reports from your GP.
Some additional factors that may affect your premiums could be:
- Your age when you had your initial Hypertrophic Cardiomyopathy diagnosis
- The severity of your symptoms
- Recent hospitalisation or surgery
- Medications you take
- Mortgage amount (£’s)
- Outstanding debt (e.g. Loans, second charge, credit cards and other)
- Spouse or partner
- Income (after tax)
- Assets (e.g. car, house, business etc.)
In almost all cases for Hypertrophic Cardiomyopathy life insurance, there will be at least a small premium loading, even for mild symptoms. In more severe cases, your application could be declined. Contact us at Iam Insured where one of our helpful experts can find you the best cover at an affordable price.
Critical illness cover is slightly different to life insurance in the sense that it is designed to provide a lump sum payment if you are diagnosed with a critical or serious illness. Most people relate this type of cover to Cancer, which is the biggest reason for claims for critical illness cover. There are unfortunately no current insurers who are considering applications for Hypertrophic Cardiomyopathy critical illness cover, because of the risks involved.
There are unfortunately currently no insurers taking applications for anyone who is looking for Hypertrophic Cardiomyopathy income protection.
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