A Guide to Getting Life Insurance with Mitral Valve Regurgitation and Mitral Valve Prolapse

Finding the right life insurance can seem tricky, especially if you have a heart condition like mitral valve regurgitation (MVR) or mitral valve prolapse (MVP). But don’t worry! Securing the coverage you need is still possible. In this blog, we’ll walk you through how these conditions impact your life insurance options and why Simplified Issue policies might be the perfect fit. Let’s simplify the process, so you can protect your loved ones and gain peace of mind.

In this article:

• Understanding Mitral Valve Regurgitation (MVR) and Mitral Valve Prolapse (MVP)
• Case Study: How a 48-Year-Old Smoker with Mitral Valve Regurgitation Secured Life Insurance
• How Mitral Valve Conditions Affect Life Insurance Eligibility
• Simplified Issue Life Insurance for Mitral Valve Conditions
  • Simplified Issue Providers in Canada
• Can I Improve My Chances of Getting Better Rates With Lifestyle Changes?
• Frequently Asked Questions (FAQs) About Life Insurance with Mitral Valve Regurgitation and Mitral Valve Prolapse

Understanding Mitral Valve Regurgitation (MVR) and Mitral Valve Prolapse (MVP)

Mitral valve regurgitation (MVR) and mitral valve prolapse (MVP) are two common heart conditions that affect how blood flows through the heart. Both conditions involve the mitral valve, which is responsible for controlling blood flow between the heart’s left atrium and left ventricle.

Mitral Valve Regurgitation (MVR): In MVR, the mitral valve doesn’t close properly, causing blood to leak backward into the left atrium. This can lead to symptoms like shortness of breath, fatigue, or even heart palpitations. While some people with MVR may not notice symptoms right away, if left untreated, it can put extra strain on the heart over time.

Mitral Valve Prolapse (MVP): MVP happens when the valve bulges or “prolapses” back into the left atrium during a heartbeat. While this sounds serious, it’s quite common and often doesn’t cause any symptoms. In some cases, however, MVP can lead to mitral valve regurgitation, which is why these two conditions are often discussed together.

Both MVR and MVP are fairly common and can range from mild to severe. If you have mitral valve regurgitation or mitral valve prolapse, this blog will guide you through your life insurance options, helping you make informed decisions. For personalized advice tailored to your specific situation, don’t hesitate to reach out to one of our experienced advisors at Protect Your Wealth.

Case Study: How a 48-Year-Old Smoker with Mitral Valve Regurgitation Secured Life Insurance

Anthony, a 48-year-old male smoker, was diagnosed with mild mitral valve regurgitation (MVR). Concerned about his family’s financial future, he began searching for life insurance. However, due to his heart condition and smoking history, Anthony faced multiple rejections from insurers who considered him a high risk. The denials left him frustrated, feeling like his options were limited.

He was worried about securing his family’s financial future. He knew he needed a life insurance policy to cover long-term expenses, including mortgage payments, everyday living costs, and future education for his children.

That’s when Anthony decided to reach out to our  broker at Protect Your Wealth. The broker carefully assessed his situation and recommended Simplified Issue life insurance, which doesn’t require a medical exam and is more lenient with pre-existing conditions. With the broker’s guidance, Anthony applied for coverage with a provider known for accommodating individuals with manageable health conditions like his.

Within a short time, Anthony was approved for coverage, securing a policy that gave him peace of mind. The broker’s expertise made all the difference in finding the right solution for his unique needs.

How Mitral Valve Conditions Affect Life Insurance Eligibility

When it comes to life insurance, having a heart condition like mitral valve regurgitation (MVR) or mitral valve prolapse (MVP) can impact your eligibility and premiums. Insurers view these conditions as a potential risk, which may result in higher premiums or policy exclusions, depending on your specific situation.

The severity of your condition plays a major role. Life insurance companies will carefully assess the extent of your MVR or MVP, whether you’re experiencing any symptoms, and how well your condition is being managed. They’ll also take into account any treatments you’ve had (such as medications or surgeries) and your overall heart health. The better your condition is controlled, the better your chances of getting favorable coverage.

Simplified Issue Life Insurance for Mitral Valve Conditions

If you’re dealing with mitral valve regurgitation (MVR) or mitral valve prolapse (MVP), Simplified Issue life insurance can be a great option to consider. This type of policy doesn’t require a medical exam, which can be a relief for those with pre-existing conditions. Instead, applicants just need to answer a detailed health questionnaire, making the process much quicker and more straightforward.

The benefits? Since no exam is needed, approval is usually faster, making it a suitable choice for individuals with manageable heart conditions like MVR and MVP. It’s perfect if you’re looking to secure coverage without the hassle of a full medical checkup.

The drawbacks? Simplified Issue policies often come with higher premiums compared to fully underwritten policies, and coverage amounts can be lower. This is because insurers take on a bit more risk by skipping the exam.

Why do Simplified Life providers cover MVR and MVP?

Many Simplified Life providers are more lenient when it comes to pre-existing conditions, including heart issues like MVR and MVP. If your condition is mild to moderate, and you’re actively managing it (whether through regular checkups, medication, or lifestyle changes) you stand a better chance of being approved. These insurers understand that a well-managed condition doesn’t necessarily pose a high risk.

Simplified Issue Providers in Canada

In the Canadian life insurance market, there are several companies that offer coverage for individuals with mitral valve regurgitation (MVR) and mitral valve prolapse (MVP), particularly through Simplified Issue life insurance policies. As mentioned, these policies don’t require a medical exam, but applicants must complete a detailed health questionnaire. This option is ideal for those with manageable heart conditions, as it allows quicker approval, although the premiums might be higher than fully underwritten policies. Here are some companies in Canada that provide such coverage:

1. Canada Protection Plan (CPP) – They are known for offering Simplified Issue life insurance, which is particularly suitable for individuals with pre-existing conditions, including MVR and MVP. They have flexible options and are generally more lenient with health issues​
2. Humania Assurance – Another provider known for their Simplified Issue policies, offering coverage without the need for a medical exam. They also specialize in insurance for individuals with medical conditions
3. Assumption Life – Assumption Life offers Simplified Issue life insurance and is a good choice for those who want faster approval without a medical exam. They provide competitive coverage options even for people with mild to moderate heart conditions like MVR and MVP​

Estimated Premiums

It’s important to note that the following estimates are just that—general guidelines based on typical underwriting practices for individuals with mitral valve regurgitation (MVR) and mitral valve prolapse (MVP). Each case is unique, and factors like the severity of your condition, your overall health, and lifestyle choices can significantly influence the final premium you’ll be offered. For a more accurate quote and to explore the best coverage options tailored to your specific needs, we highly recommend reaching out to a qualified broker at Protect Your Wealth. Our experienced team can guide you through the process and help you find the right policy for your situation. Here’s an idea of how life insurance companies generally rate mitral valve conditions:

• Mild cases of mitral valve regurgitation or prolapse without significant symptoms can sometimes be approved at a “Standard” rate.
• Moderate cases may face a substandard rating, meaning premiums could be around 25% to 75% higher than normal​.
• Severe cases, especially if complications like atrial fibrillation are present, may result in a declined application or much higher premiums​.

Can I Improve My Chances of Getting Better Rates With Lifestyle Changes?

Absolutely! Making lifestyle changes can significantly improve your chances of getting better life insurance rates, especially if you have a heart condition like mitral valve regurgitation (MVR) or mitral valve prolapse (MVP). Insurers look closely at your overall health when determining premiums, so taking steps to improve your heart health can work in your favor. Here are a few key lifestyle changes that can make a difference:

Quit Smoking: Smoking is one of the biggest factors that can raise your premiums. If you quit smoking, you’re not only improving your heart health but also showing insurers that you’re reducing your risk. After a year or more of being smoke-free, many insurers offer better rates for non-smokers.

Adopt a Heart-Healthy Diet: Eating a diet rich in fruits, vegetables, whole grains, and lean proteins can help lower blood pressure and cholesterol levels, both of which are important for heart health. Maintaining a healthy weight can also reduce strain on your heart, and insurers often consider this when setting premiums.

Exercise Regularly: Regular physical activity strengthens your heart and improves circulation. Even moderate exercise, like walking or cycling, can have a positive impact on your heart health over time. Insurers take note of an active lifestyle, as it reduces the risk of heart-related complications.

Manage Stress: Stress can have a negative impact on heart health, contributing to high blood pressure and other cardiovascular issues. Finding ways to manage stress, whether through meditation, yoga, or hobbies, can not only improve your well-being but also boost your health profile with insurers.

Follow Your Doctor’s Advice: Whether it’s taking prescribed medications or attending regular check-ups, following your doctor’s treatment plan is crucial. It shows insurers that you’re actively managing your condition, which can lead to more favorable rates.

While these changes won’t result in instant rate reductions, over time, insurers will see the positive impact on your overall health. It’s a smart move to start making these changes now (both for your health and your wallet). 

Conclusion 

Living with a heart condition like mitral valve regurgitation (MVR) or mitral valve prolapse (MVP) can undoubtedly make securing life insurance more challenging. These conditions often lead to higher premiums or even rejections from traditional insurers due to the perceived higher risk. However, the good news is that securing life insurance is not impossible. Simplified Issue life insurance can be an excellent solution for those with manageable heart conditions, offering coverage without the need for a medical exam and providing a faster, less invasive path to approval.

With Simplified Issue policies, you can still protect your family’s financial future, even if you’ve been denied coverage before. While coverage amounts may vary, and premiums could be higher, it’s a valuable option for ensuring peace of mind. For those seeking higher amounts, it’s crucial to work with the right insurance provider and explore all your options.

Protect Your Wealth has experienced brokers that specialize in helping clients with pre-existing conditions like MVR and MVP find the best coverage. We’ll guide you through the entire process, ensuring you get the right policy at the most competitive rate for your unique situation.

Frequently Asked Questions (FAQs) About Life Insurance with Mitral Valve Regurgitation and Mitral Valve Prolapse

Find a solution for what you’re looking for 

Getting life insurance with mitral valve regurgitation or prolapse is possible, and by exploring options like Simplified Issue coverage and making positive lifestyle changes, you can protect your family’s future while ensuring peace of mind. At Protect Your Wealth, we work with and compare policies and quotes from the best life insurance companies in Canada to ensure the best solution for you and your needs. We provide expert life insurance solutions, including no medical life insurance, critical illness insurance, term life insurance, and permanent life insurance to build the best package to give you the protection you need. 

Contact Protect Your Wealth or call us at 1-877-654-6119 to talk to an advisor today! We’re proudly based out of Hamilton, and service clients anywhere in Ontario, British Columbia, Alberta, and Manitoba including areas such as Kitchener, Nanaimo, Edmonton, Winnipeg.