Life insurance is available after cardiac arrest and with an ICD, but it will typically be more expensive than standard rates and some providers may decline certain types of cover. The market varies considerably between insurers, so it is important to shop around and use a specialist broker where possible.
When applying for life insurance, you are required to disclose your medical history, including your cardiac arrest and any devices or conditions. Failing to disclose is likely to make any claim invalid. Insurers will usually ask for details of the event, the cause, your current medications, device type, and the results of your most recent cardiac review.
Some policies may be available at standard rates, particularly if the cardiac arrest occurred some years ago, the cause has been fully treated, you have a well-functioning ICD, and there are no other significant health conditions. Others will be offered at "loaded" (increased) premiums, or with exclusions for cardiac-related claims.
For those who cannot obtain standard life insurance, options include over-50s guaranteed acceptance plans (which do not require medical questions but typically pay a fixed sum) and specialist insurers who focus on people with pre-existing medical conditions.
The British Heart Foundation produces guidance on insurance for people with heart conditions. Specialist financial advisers experienced in this area can help identify the most suitable options.
A cardiac arrest does not mean life insurance is impossible — it means you need to look harder and possibly pay more.