Long QT syndrome life insurance, critical illness cover and income protection
The facts about getting life insurance with Long QT syndrome
Long QT syndrome life insurance can be a good idea for people in need of financial protection or financial services. Long QT syndrome is a cardiac condition that affects the heart rhythm and can lead to sudden death if left untreated. The latest news from the British Heart Foundation estimates that long QT syndrome may affect 1 in 2,000 people and most of those people go on to live normal lives. Having a heart condition can make obtaining appropriate long QT syndrome life insurance more difficult, but there are specialist insurance brokers who can help you find cover.
What does Long QT syndrome life insurance cost?
When making any application for financial services with a heart condition, insurance brokers will need further details and access to your medical history. This is standard for any application with pre-existing health conditions. Some questions your life insurance company may ask during your application for long ST syndrome life insurance are:
- When were you diagnosed with long QT syndrome (LQTS)?
- Do you have a family history of heart conditions or sudden death?
- Have you had an ICD fitted?
- What is your current BMI?
- What medication/treatments are you on?
- Have you suffered from a heart attack?
Your premiums for Long QT syndrome Life insurance will also depend on:
- Sum assured (£’s)
- Term of cover (years)
- Type of policy (e.g. Family, Mortgage, Whole of Life etc.)
Long QT syndrome life insurance rates/ratings
Applications for long QT syndrome life insurance, and other heat conditions, are likely to receive loading or ‘exclusions’. If your cardiac condition is well-controlled and you do not experience severe symptoms life insurance brokers should be able to obtain more favourable rates. In more complex cases consulting specialist long QT syndrome life insurance brokers is advised.
Percentage (%) loading for Long QT syndrome life insurance
If percentage loading is applied to your long QT syndrome life insurance your monthly premiums will be increased by a set percentage. Your life insurance company will do this if they believe there are additional risks of claim to your long QT life insurance policy and it is common across many pre-existing health conditions. The amount of acceptable loading available will vary, and some insurers are able to accommodate higher risk clients (e.g. 250%, 400%)
Per mille loadings for Long QT syndrome life insurance
‘Per mille loading’ is very rarely applied and is often only relevant for very severe health conditions. ‘Per mille loading’ will raise your monthly premium by a set amount (e.g. £1, £2) per thousand £’s of cover applied for. ‘per mille loading’ can be applied by your insurance company in the short or long term, however, you are unlikely to find ‘per mille loading’ applied to your long QT syndrome life insurance.
Exclusions for Long QT syndrome life insurance, critical illness cover or income protection
‘Exclusions’ are commonly added to policies with pre-existing health conditions and they may be applied to your long QT syndrome life insurance. An ‘exclusion’ would prevent you from placing any claims that are related to you pre-existing heart condition. ‘Exclusions’ are very strict, so it is important that you check your long QT syndrome life insurance policies closely, so you can be sure of what will be covered. ‘Exclusions’ could also prevent you from accessing additional benefits like Total and Permanent Disability, Waiver of Premium and Guaranteed Insurability.
We can’t tell you how much long QT syndrome life insurance you should apply for, but we can offer you a few guidelines. When discussing any amount, remember that your monthly premiums could increase after underwriting and this could have an affect on how affordable your long QT syndrome life insurance monthly premiums are.
- The amount left to pay on your mortgage.
- Any outstanding debt (e.g. Loans, second charge, credit cards and other)
- Spouse or Partner
- Annual Income (after Tax)
- Any financial assets (e.g. car, house, business etc.)
If you feel unsure or require more information to decide how much long QT syndrome insurance you will require to secure your family and home, see our Iam Insured long QT syndrome insurance calculator [LINK].
Long QT syndrome life insurance critical illness cover may be hard to find due to your pre-existing heart condition. A critical illness policy will provide you with a tax-free lump sum if you are unable to work. Your life insurance company is likely to apply loading or ‘exclusions’ to your long QT syndrome life insurance critical illness premiums, so it is important you check the wording of your policy closely. When deciding how much long QT syndrome life insurance critical illness you should apply for, consider:
- Your annual Income (after Tax)
- Mortgage/rental payments (annual)
- Cost of living (annual)
- Any other potential costs (e.g. medical treatment or adaptations)
Like Critical illness, you may have some difficulty finding an income protection Long QT syndrome life insurance policy without the help of specialist insurance brokers. Income protection will provide monthly payments if you find yourself unable to work. Premium loading or ‘exclusions’ may be added to your policy due to your heart condition and this could impact how useful/affordable your policy actually is. When deciding the amount of income protection, you should add to your long QT life insurance policy think about your:
- Monthly income (after tax)
- Mortgage/rent payments
- Debts (other)
- Cost of living
Many people looking for long QT syndrome should be able to find cover at acceptable rates. How affordable your policy is will depend on your current condition and the underwriting criteria of your life insurance company. If you are having trouble obtaining long QT syndrome life insurance, you should consider contacting a specialist insurance broker like Iam Insured.
Iam Insured have over 20 years of experience helping people with health conditions like long QT syndrome find cover that works for them. To speak with one of our long QT syndrome experts, contact out registered office now on [TELE] or send our customer service team an email [EMAIL]
Long QT syndrome critical illness cover and income protection providers
Finding a critical illness or income protection long QT syndrome life insurance policy is very possible with help from specialist insurance brokers like Iam Insured. As these policies often feature premium loading or ‘exclusions’ related to your heart condition, make sure you check your policy closely. If you have been declined for a critical illness/income protection long QT syndrome life insurance policy in the past or would like some help finding the best rates, we can help.
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