If you have had a stroke then you need to read this. There are three important questions you need to ask if you are applying for high risk life insurance after you have had a stroke, which are:
- Can I get life insurance after a stroke?
- What will life insurance cost if you’ve had a stroke?
- What is the process of applying for life insurance after having a stroke?
Let’s begin with a brief overview
When blood flow to part of the brain stops it will cause a stroke. If blood flow is stopped for longer than a few seconds, the brain cannot get blood and oxygen. Brain cells die, which causes permanent damage.
One major type of stroke is Ischemic which occurs when plaque blocks an artery.
The other major type of stroke is hemorrhagic, occurring when a blood vessel in part of the brain grows weak and pops open, also referred to as an aneurysm.
A third type of stroke not covered here is a transient ischemic attack.
Can I get life insurance after a stroke?
The quick answer is, YES.
Ultimately, approval will depend severity of the stroke, the damage done, how long it has been since your episode, how well you are currently taking care of yourself, what medications you are taking, and what the medications are treating.
If you had a recent stroke or have a history of strokes then you would want to consider a burial or final expense life insurance policy where there is no exam and no health questions. We created a list of the top final expense and burial insurance companies so you can get an idea of what is available.
How much will life insurance cost if you’ve had a stroke?
That’s a tough question to answer because life insurance companies have about 16 different rate classes. What rate class you qualify for will ultimately determine your life insurance rates by age.
Generally, the best case scenario for someone who has not had a stroke for 10 years and who has an excellent record of treatment, who has no further medical history, and whose cholesterol levels and blood pressure are well controlled without the use of medications, would be a standard rate class, with the majority of people qualifying at a sub standard rate class.
Once again, if you had a recent stroke or have a history of strokes then you would want to consider a guaranteed issue life insurance policy where there is no exam and no health questions.
If you are curious what your price tag would be, simply enter your information and see what a standard rate class would be for your age and gender.
What is the process?
You may find that one of the best no medical exam life insurance companies is the right fit for you. For others, taking an exam is the best route.
A fully underwritten life insurance policy requires a life insurance medical exam. The examiner typically comes to your home and checks your height and weight and takes a small blood and urine sample. Your lab results are then processed. The carrier will request physician statements and look into your medical records. The carrier will also do a prescription database check to see what medications you are currently taking and have taken in the past. An underwriter will then assess your “risk” level and give you a rate class assigned to your specific risk. Your assigned agent at TermLife2Go will then follow up with you and let you know of your approval.
The entire process is handled by us so you can just sit back and wait for the life insurance carrier to complete your file. Speaking of life insurance carriers, not all life insurance carriers are the same!
Not all life insurance carriers are the same if you have a history of stokes.
The life insurance industry is just like every other industry out there. Competition is constantly driving insurance carriers to compete for your business. As a result, carriers take on “niches” in an effort to earn market share. It is important to know these niches and it is important the agency you chose has the freedom to choose from multiple life insurance carriers. As a consumer, it is in your best interest to work with an agency that is not bound to any one carrier and will be able to shop your application to dozens of the best life insurance companies available. Only by doing this can you insure that you are getting the best type of life insurance policy tailored to your specific needs.
By working directly with TermLife2Go you will have an assigned agent dedicated to your application. This agent will be available to you throughout the entire application process; he or she will provide you with status updates as your application goes through underwriting and will also review your application at time of approval to ensure that you are still getting the best deal out there!
So what are you waiting for? Just give us a call to see just what we can do for you.