Advice needed after receiving Standard Table 3.
I am looking for advice on how to proceed with a 15 yr term life insurance quote I received placing me into the standard, table 3 risk category (a high risk group). Given my general good health, with the exception of the event I describe below, I believe this is perhaps a higher risk category than is appropriate. However, I am open to the possibility that I am wrong so I would like some advice on how to proceed. FYI, five years ago I accepted a 30yr term policy at preferred plus. This new policy would be a supplement to the old one since I have a new child on the way.
Here is my story.
I am a healthy, non-smoking 40yo male, with only 1 health condition that would prevent a lower risk classification and thus a better insurance rate. In February 2022, my 2yo daughter caught gastrointestinal virus (vomiting, diarrhea) from daycare and passed it to me (same symptoms). A couple of days after I caught it, I went to the emergency room with chest pain and I was admitted due to elevated troponin (a blood marker indicating a possible heart attack). I was admitted and hospitalized for 3 days. An echocardiogram showed my heart was not damaged. A cardiac catheter showed that I had clean arteries, ruling out a heart attack. A cardiac MRI diagnosed me with myopericarditis likely caused by the GI virus I contracted a few days earlier. My doctors have told me that my heart is healthy and that this prior event does not predispose me to this occurring again. At the occurrence, I had a slightly abnormal EKG but that has since resolved. An exercise stress test shows no lingering concerns with my heart. Essentially, this was a rare, acute event of heart inflammation that is very unlikely to happen again.
An insurance company (that I won’t name) does not feel the same as my doctors. I anticipated that my recent hospitalization would prevent me from receiving a preferred plus classification but I was surprised to get standard, table 3, which I understand to be a “high risk” category.
How should I proceed with the current quote? I have thought of a few options.
Decline the quote and immediately apply to a new company to see if I receive a better rate.
Accept the quote and re-apply in 1-2 years after my hospitalization.
Accept the quote, but immediately apply to a new company.
Another option I have not thought of.
