When applying for life insurance coverage, there are many things that the underwriters will review before approving an applicant for the policy. This is because the insurance carrier will want to ensure the amount of risk that it is taking on.
Because life insurance approval is based on large part on life expectancy factors, a person’s age, gender, and health are all reviewed, based upon the information that they submit on the application for coverage.
If, however, an applicant has suffered certain health issues such as a heart condition or a stroke, it is probable that the underwriters will require more in-depth details.
The good news is, however, that today – due in large part to longer life expectancies, advanced medical technology, and changing life insurance standards, applicants for life insurance coverage do have many more options available to them. This means that if you have had a stroke in the past, you could still qualify for coverage – even if you have been turned down for coverage before. You could also qualify for life insurance with diabetes or term life insurance after gastric bypass surgery.
It is still a good idea, though, to work with an agency or a company that specializes in assisting those who may be considered higher risk cases. This is because these firms will typically be better positioned to locate the insurance carriers that are more apt to work with – and offer coverage to – those who have had certain types of health issues.
How Having a Stroke Can Affect Getting Life Insurance Protection
A stroke is a type of cardiovascular problem. It can have an effect on the arteries that lead to and from the brain, as well as the arteries that are within the brain itself. A stroke can occur when a blood vessel that carries oxygen and nutrients to the brain either bursts or is blocked by a blood clot.
If the brain is unable to receive the blood or oxygen that it requires due to having a stroke, its cells will begin to die off – and, if help is not sought quickly enough, the individual can suffer permanent disability or even death.
There are different types of strokes that can occur. The most common type of stroke is known as the ischemic stroke. These strokes occur due to an obstruction in a blood vessel that supplies blood to a person’s brain. This obstruction may occur due to fatty deposits that build up on the walls of the blood vessels, and then when the deposits break free, clots can be formed which in turn, block blood flow to the brain.
Another type of stroke is known as a hemorrhagic stroke. This occurs when small blood vessels in the brain become weak and then burst. This is often referred to as an aneurysm. The flow of blood that is released can cause damage to the brain’s cells due to the accumulation and compression on the brain’s tissue.
There is also a third type of stroke. These are referred to as transient ischemic attacks or TIAs. Because a TIA is typically not as severe as a hemorrhagic or an ischemic stroke, it is often considered as a “warning” stroke.
During a TIA, an individual may experience many of the same symptoms that he or she would if they were having an ischemic stroke. However, the blood clot will only last for a short period of time, and the body manages to clear it out naturally without any significant damage. Even though the symptoms of a TIA will go away within 24 hours, it is important to seek medical attention right away, as a TIA is usually an indication that a stroke may occur in an individual within a short period.
If an applicant has experienced any of all of the above, a life insurance company will want to know more information about his or her pre-existing health condition, as this could be an indication that their health may be in danger – and in turn, it could reflect a cause for claim for the insurance carrier.
Types of Life Insurance Available To You If You Have Had a Stroke
Depending on the severity of your stroke, how long ago the stroke occurred, and how well you have recovered from the stroke, you may be able to obtain various types of life insurance coverage. These may include either term or permanent coverage.
With term life insurance, you can obtain a policy that will cover you for death benefit protection only. A permanent policy will provide you with death benefit protection, along with a cash value component that will provide you with tax-deferred savings, too.
What the Life Insurance Underwriters Will Want to Know About You If You’d Had a Stroke
There are normally extra questions you’ll have to answer if you apply for a plan after going through a stroke. We’ve looked at applications we’ve done in the past and consulted with our agents to put together a sample list of things you’ll be discussing with the underwriter based on your health condition.
- When did you initially suffer from a stroke?
- Have you had more than one stroke? If so, how many and when did the strokes occur?
- What are you doing to manage your lifestyle after having a stroke?
- Are you taking any prescription medication for your condition?
- Do you have any other medical conditions?
- Do you see a medical specialist for your condition?
- Have they recommended any tests?
The carrier will also want you to go through a medical exam because they need to find out if there are any other risks that aren’t able to be seen from a paper application. They’ll look at your heart, blood pressure, and take samples of blood and urine, and then test these at the lab.
How Much Will Your Life Insurance Policy Cost
If you are in good health, other than your stroke diagnosis, you may be able to qualify for a Standard policy class. This means that your policy would be priced in line with those who are average policyholders in your same age and gender category.
However, if your health is not in line with those who are considered to be in average condition, then it is likely that you will be placed into a Substandard policy class. In that case, the amount of your premium would be higher.
What If You Don’t Qualify for Traditional Life Insurance Coverage?
You could apply for a no medical exam policy. With these plans, there is no medical examination that is required for underwriting purposes – and because of that, many people who have certain types of health issues can still qualify for coverage.
Because those who apply for these policies are typically more risky to the life insurance carrier, the premium that is charged for these policies is usually higher. However, this is another potential outlet for providing the coverage that your loved ones deserve.
Where to Get the Best Premiums for Life Insurance After a Stroke
If you’re ready to see if you qualify for life insurance after a stroke, we can help. When you want to move forward, use the form on this page to get your first set of life insurance quotes.
If you need immediate assistance, we’d love it for you to call us, 888-229-7522, and let our agents show you how we can give you the best rate comparisons in the business.
We understand that you may be a bit apprehensive about applying for the coverage that you need – especially if you have been turned down in the past. But the good news is that you have many more options open to you today.