Life Insurance After Aneurysm: How Do You Get It?

You can get life insurance after an aneurysm. However, life insurance applications require detailed health information, especially for those with pre-existing conditions like aneurysms. Your insurance options and monthly premium rates will depend on your medical history.

Some aneurysms are more dangerous than others, which is why insurance costs can vary significantly for people with a history of aneurysms. The surest way to find the cheapest rate is to get quotes from multiple insurance companies, which an insurance agent can do for you behind the scenes.

Let's dive into this in more detail.

Key Takeaways: 

• You can get life insurance after an aneurysm
• You may have to pay more premium than someone without a history of aneurysm
• More giant, untreated, or recently surgically corrected aneurysms may disqualify you from traditional life insurance, such as term life and whole life insurance
• Guaranteed-issue life insurance can be an option if you aren’t eligible for standard coverage. 

What is an aneurysm?

An aneurysm is a balloon-like bulge in the wall of an artery. It occurs when part of an artery’s wall becomes weak. Common reasons include high blood pressure, poor diet, atherosclerosis, high cholesterol, smoking, and obesity. 

Untreated aneurysms can rupture, causing internal bleeding or blood clots. Depending on the location of the aneurysm, a rupture could prove fatal. 

Aneurysms most commonly occur in the abdomen, heart, brain, or legs, though they can also develop in other arteries in the body. The location determines the type of aneurysm you have. 

The two most common types of aneurysms are aortic and cerebral aneurysms. Arotic aneurysms are of different types, with the two most common ones being abdominal aortic and thoracic. 

• A cerebral aneurysm is a bulge in the wall of a blood vessel in the brain. If not treated in time, it could rupture, causing stroke, brain damage, or even coma. A cerebral aneurysm is also referred to as a brain aneurysm. 
•  An abdominal aortic aneurysm occurs when a part of the aorta in the abdomen balloons out. It could lead to rupture and other severe complications. 
• A thoracic aortic aneurysm is a bulge in the wall of the aorta that runs through the chest. Over time, the affected blood vessel swells, increasing the risk of rupture or dissection, both of which can be life-threatening.     

Why get life insurance when you have an aneurysm?

Life insurance isn’t a legal requirement, but it can offer you peace of mind that your loved ones will be taken care of financially should you die before your time. 

You may want to consider it if you have people who depend on you financially, such as a spouse, children, or other dependents who rely on you as a caregiver. 

The life insurance payout can help your family replace some of your income. The money could help them: 

• Pay off the mortgage
• Cover daily living expenses
• Pay for children’s education

Can you get life insurance after an aneurysm?

Yes, you can buy life insurance after having an aneurysm. Many people with an aneurysm can qualify for traditional insurance. Options are available even if your aneurysm is severe enough to put traditional coverage out of reach.

Life insurance applications for individuals with an aneurysm require detailed health information to assess risk and determine eligibility.

Your life insurance options and life insurance rates depend on the type of aneurysm, your symptoms, whether you have had surgery and your overall health profile.

What types of life insurance are available to someone who has had an aneurysm?

If you have had an aneurysm, you may still be eligible for various types of life insurance coverage. The most common types of life insurance available to individuals with a history of aneurysm include:

• Term Life Insurance: This type of insurance provides coverage for a specified term or period, usually between 10 to 30 years. It is often the most straightforward and cost-effective option, making it ideal for those looking to cover significant financial obligations like a mortgage or raising children.
• Whole Life Insurance: This type of insurance offers coverage that lasts for the insured’s lifetime, combined with a cash value component that grows over time. Whole life insurance is generally more expensive than term life but provides lifelong protection and can serve as a tax-deferred savings account.
• Guaranteed Issue Life Insurance: This type of insurance is designed for individuals who may not qualify for traditional insurance due to health issues, including those with a history of an aneurysm. It requires no medical exam or health questions, making it accessible but typically comes with higher premiums and lower coverage amounts.
• Simplified Issue Life Insurance: This type of insurance requires no medical exam, but applicants may need to answer a few health-related questions. It offers a middle ground between traditional and guaranteed issue policies, providing quicker approval and moderate coverage amounts.

It’s essential to note that the availability and cost of these options may vary depending on the severity and location of the aneurysm, as well as the individual’s overall health status.

What types of life insurance are available to someone who has had aneurysm?

Life insurance options available to you depend largely on your specific medical history. If you’re eligible for traditional coverage, term and whole life insurance are the two most common options. 

If you don’t qualify for traditional insurance because of your history of aneurysm, consider no-medical life insurance options. They require little or no medical underwriting and can be an option for those with severe health issues. 

• Term life insurance is simple to understand and affordable. It is often the best option for most primary breadwinners looking for coverage when they have the biggest financial obligations, such as a mortgage and raising young children. Term life insurance lasts for a specific period, though you usually can renew coverage without additional underwriting at the end of the policy term. Most common term lengths are 10, 20, and 30 years. 
• Whole life insurance combines permanent coverage with an investment component. It is much pricier than term life insurance and is generally a good choice for people with unique insurance needs. You may want to consider it if you want assurance that your beneficiary will receive the death benefit, regardless of when you die. It may also be a good choice for high-income earners looking for a permanent life insurance policy that can double up as a tax-deferred savings account. 
• Simplified issue life insurance is a type of insurance policy you can be approved for with a handful of health-related questions. Since it doesn’t require a medical exam, people with health concerns have a good chance of qualifying. However, the coverage amounts are smaller than traditional plans, and premiums are more expensive. Both term and permanent life insurance coverage are offered as a simplified issue. 
• Guaranteed issue life insurance requires neither a medical exam nor health questions and the coverage lasts your entire life. As long as you meet the age requirement — for most insurers, the age requirement is 40 to 80 years — the approval is almost guaranteed. However, git does not replace your income but instead helps your family pay for your end-of-life expenses. This is why the death benefit is typically less than $25,000 or $50,000. 
• Group life insurance is insurance coverage offered by employers to their employers free of cost or at subsidized rates. The death benefit amount is generally up to one or two times the annual salary, and you’ll likely lose coverage if you switch jobs. On the upside, all employees included in the plan are eligible for coverage, regardless of their medical history. 

Which types of aneurysms affect life insurance?

The type of aneurysm you had and whether it required surgery will impact your insurability and premium rates more than anything else. Here are the most likely outcomes for different types of aneurysms.  

Cerebral aneurysm

You may qualify for traditional insurance with a standard premium rate if 

• You were diagnosed with a small cerebral aneurysm more than 5 years ago;
• You didn’t require surgery; 
• Your condition is stable; 
• You don’t smoke; and
• You don’t have high blood pressure

The standard premium rate means you will pay the same premium as the average person your age and gender. However, if you have high blood pressure or smoke, expect your premium to go up. Both increase the risk of rupture. 

You may qualify for traditional insurance coverage but may have to pay a higher-than-average premium rate if:

• You were diagnosed with cerebral aneurysm more than 6 months ago; 
• You underwent surgery; and
• Your condition is stable

Your application for traditional insurance coverage will likely be declined if: 

• You underwent surgery to treat a cerebral aneurysm less than 6 months ago

Abdominal Aortic Aneurysm

You may be approved for traditional insurance with a higher-than-average premium if: 

• The size of your abdominal aortic aneurysm was smaller than 5cm, you didn’t require surgery, and you go for regular health check-ups 

Or if: 

• The size of your abdominal aortic aneurysm was smaller than 5cm, you underwent surgery more than 6 months ago, your present condition is stable, and you go for regular health check-ups

Your application for life insurance will likely be turned down if: 

• The size of your abdominal aortic aneurysm was smaller than 5cm, but you had surgery less than 6 months ago; or
• The size of your abdominal aortic aneurysm was larger than 5cm, but you didn’t treat it using surgery and didn’t go for regular check-ups; or
• You are over 60 and have had abdominal aneurysms in the past

Thoracic Aortic Aneurysm

Thoracic aortic aneurysms are rare, affecting roughly 6-10 per every 10,000 people. A thoracic aortic aneurysm occurs higher up in the aorta. However, they tend to be riskier than abdominal aortic and cerebral aneurysms. Most insurance companies evaluate every case of thoracic aortic aneurysm separately. Working with an independent insurance broker specializing in high-risk applicants may improve your chances of securing the desirable coverage. 

What information do you have to disclose about your aneurysm?

Apart from the usual questions about your health history, the insurer may ask some aneurysm-specific questions when you apply. These could include:

• When was your aneurysm diagnosed?
• What was the location of the aneurysm and its size?
• Has your aneurysm been surgically corrected? If so, when?
• What were the likely causes of the aneurysm?

The insurer will also ask you if you have any other medical conditions, such as hypertension, or if you smoke.

Regardless of your medical history, you must answer all the questions on the life insurance application truthfully. Life insurance companies can ask to see your medical records to ensure you have provided accurate, honest answers regarding your health status. Withholding key information or lying on your life insurance application could result in an insurer denying your application, canceling the plan, or refusing to pay the death benefit. Life insurance applications require detailed health information, including specifics about the aneurysm, to assess risk accurately.

How are insurance premiums calculated based on your aneurysm?

Insurance companies will evaluate several factors related to your aneurysm and those independent of it to determine your premium rate. These include: 

• The size and location of the aneurysm: Larger aneurysms are riskier than smaller ones. You may pay higher premiums or even face denial of coverage if your aneurysm is larger than 5cm. Your premium rate will also be higher than the average if the aneurysm is located in an area where a rupture could be life-threatening, like the wall of the aorta that runs through the chest. 
• Success of the treatment received: Depending on the aneurysm’s type, size, and location, treatment can include surgery or medication. If your aneurysm has been successfully treated and your condition is controlled, you may be approved with a standard premium rate. 
• Additional health concerns: Certain health conditions, such as high blood pressure or cholesterol, can increase the risk for aneurysms and bump your premium rate. 
• Lifestyle factors: Smoking also increases the risk of aneurysms. Expect to pay more for life insurance if you smoke. 
• Age: Life insurance premiums increase with age, regardless of your medical history. 

Life Insurance Underwriting Process

The life insurance underwriting process for individuals with a history of aneurysm involves a detailed assessment of risk by the insurer. The process typically includes:

• Application: The individual submits an application for insurance coverage, providing detailed information about their medical history, including the aneurysm.
• Medical Exam: The insurer may require a medical exam to assess the individual’s current health status and the stability of the aneurysm. This exam is similar to an annual physical and helps the insurer gauge the risk involved.
• Review of Medical Records: The insurer reviews the individual’s medical records, including test results and treatment plans, to assess the risk associated with the aneurysm. This step ensures that the insurer has a comprehensive understanding of the applicant’s health.
• Underwriting Decision: The insurer makes a decision about the individual’s eligibility for coverage and the premium rate based on the assessment of risk. Factors such as the size and location of the aneurysm, treatment success, and overall health are considered.
• Policy Issuance: If the individual is approved for coverage, the insurer issues a life insurance policy with the agreed-upon terms and conditions. The policy becomes active once the first premium payment is made.

What Do Life Insurance Companies Consider When Someone With an Aneurysm Applies For Coverage?

When someone with an aneurysm applies for life insurance coverage, insurers consider several factors to assess the associated risk. These factors include:

• Type of Aneurysm: The location and type of aneurysm, such as thoracic or abdominal, can impact the risk assessment. Different types of aneurysms carry varying levels of risk.
• Size of the Aneurysm: The size of the aneurysm can indicate the potential for future health issues. Larger aneurysms are generally considered riskier.
• Treatment Received: The success of any treatment received, such as surgery or medication, can impact the risk assessment. Successfully treated aneurysms may result in more favorable underwriting decisions.
• Current Health Status: The individual’s current health status, including any ongoing health concerns or complications related to the aneurysm, is considered. Stable health conditions may lead to better insurance terms.
• Family Medical History: The individual’s medical history, including any history of aneurysms or related health issues, is considered. A family history of aneurysms can influence the insurer’s decision.
• Lifestyle Habits: The individual’s lifestyle habits, such as smoking or high blood pressure, can impact the risk assessment. Healthy lifestyle choices may improve the chances of obtaining coverage at a reasonable rate.

Finding Affordable Life Insurance Coverage

Finding affordable life insurance coverage with a history of aneurysm requires careful research and comparison of insurance options. Here are some tips to help you find affordable coverage:

• Research Life Insurance Companies: Research and compare different life insurance companies to find the ones that offer the most competitive rates and terms for individuals with a history of aneurysm. Look for insurers with experience in high-risk cases.
• Consider Working with an Insurance Broker: An insurance broker, like Dundas Life, can help you navigate the application process and find the best coverage options for your needs and budget. Brokers have access to multiple insurers and can provide personalized advice.
• Look for Companies that Specialize in High-Risk Cases: Some insurance companies specialize in providing coverage to individuals with high-risk medical conditions, including aneurysms. These companies may offer more favorable terms.
• Consider Guaranteed Issue Life Insurance: Guaranteed issue life insurance may be a viable option if you have been declined for traditional life insurance coverage. While it comes with higher premiums and lower coverage amounts, it provides essential financial protection.

Researching Life Insurance Companies

When researching life insurance companies, consider the following factors:

• Financial Stability: Look for companies with a strong financial rating and a history of paying claims. Financially stable insurers are more likely to honor their commitments.
• Coverage Options: Consider the types of coverage options available, including term life, whole life, and guaranteed issue life insurance. Choose a policy that aligns with your needs and financial goals.
• Premium Rates: Compare premium rates among different companies to find the most competitive options. Affordable premiums can make a significant difference in long-term financial planning.
• Customer Service: Consider the company’s customer service reputation and the ease of the application process. Good customer service can make the experience smoother and more reassuring.
• Underwriting Process: Consider the company’s underwriting process and the factors they consider when assessing risk. Understanding the underwriting criteria can help you choose an insurer that is more likely to approve your application.

By carefully researching and comparing life insurance companies, you can find affordable coverage that meets your needs and budget.

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How to apply for life insurance with a history of an aneurysm?

The process of purchasing life insurance coverage with a history of aneurysm is no different than buying coverage with any other pre-existing illness. Life insurance applications for individuals with a history of an aneurysm require detailed health information to assess risk and determine eligibility.

• Get online quotes

Many insurers offer free online quotes that give you an estimate of how much your life insurance plan could cost.

• Speak with a licensed, independent agent

An independent insurance agent like Dundas Life works for you, not a specific insurance provider. They can offer you unbiased, transparent advice and help you apply with those insurance companies that are likely to rate applicants with a history of aneurysm more favorably than others. In addition, since many Canadian insurers don’t offer online quotes, an independent agent can shop for insurance quotes on your behalf.

• Compare quotes and apply for life insurance

Compare different insurers’ offerings and pricing to find the one that offers the best value for money. Then, apply for coverage with that provider.

• Take a medical exam

If you have had an aneurysm, the insurer is likely to ask you to take a life insurance medical exam, which is similar to the annual physical. The exam is relatively quick (15 to 45 minutes) and can be arranged to fit your schedule.

• Wait for approval

Standard underwriting usually takes four to six weeks. Underwriting is when an insurer evaluates your life insurance application and determines whether you qualify for the applied policy and how much premium you’ll pay. The insurer will also consider your family medical history.

• Sign the life insurance policy and pay the first premium

If the insurer decides to cover you, they will send the plan details to you to review. If you agree to the terms, sign the life insurance policy and make the first premium payment to activate coverage.

Conclusion

It is possible to qualify for traditional insurance — such as term life or whole life insurance — with a history of aneurysm. However, your diagnosis may affect your life insurance options, plan terms, and premium cost. Dundas Life has worked with many clients in the past with a history of aneurysm. We can help you find the right coverage at a great price too. Start by getting free, no-obligation life insurance quotes today.  

Frequently Asked Questions (FAQs)

Are there specific life insurance policies for those with an aneurysm history?

Not really. That said, specific life insurance plans — such as simplified and guaranteed issue insurance — are geared toward people with health concerns. These policies have little or no medical requirements for approval, so you can get coverage even if you have a ruptured aneurysm or a dangerous unruptured aneurysm. 

Can my life insurance application be denied due to an aneurysm? 

Yes, your application for traditional insurance coverage could be turned down if the insurer considers you too risky to insure. This may happen if your aneurysm is particularly large or not stable, was treated with surgery less than 6 months ago, or has not been treated at all.

Your application may also be rejected if you are over 60. If you don’t qualify for standard life insurance, consider buying no-medical life insurance, such as guaranteed issue insurance.