It's common for people to purchase life insurance following a health scare, such as a stroke. A reminder of our mortality is one of the few events that move us to act.
After a stroke, are you still eligible for insurance coverage? Sure. You will need to prepare, however, for the questions about the stroke and your overall health. Use this resource as a resource to determine what kind of life insurance policy you qualify for, the types of questions you will be asked, the companies to look at, and how you should proceed.
After a stroke, life insurance is necessary: Before you submit an application for life insurance, get ready to answer 10 important questions.
Basically, underwriters are responsible for assessing risk so as to determine if you qualify for coverage, as well as how much to charge you.
If you are applying for traditional coverage, such as 10-year term life insurance, a medical event, such as a stroke, will be taken into account during the application process.
Prepare answers to the following questions.
1. When did you have your stroke? You should have experienced a stroke a significant amount of time ago. Why? Strokes often lead to other strokes.
Traditional coverage may be available if it has been at least 12 months since your stroke or Transient Ischemic Attack (TIA), although some carriers may approve your application sooner.
Within 12 months after the event, consider seeking life insurance through a product like guaranteed issue, and then reapply after the year has passed.
Guaranteed issue life insurance has a limited face amount and minimal underwriting and is not subject to an exam.
Generally, you need to have suffered a stroke at least 10 years ago in order to qualify for preferred health classes.
2. What was your age? Strokes that occur in later life are preferred by underwriters.
Strokes occurring prior to age 55 are often an indicator of serious health conditions.
3. Did you suffer a stroke of what type? Insurers view Transient Ischemic Attacks (TIA), Ischemic Heart Attacks (IHS), and full-blown strokes (Hemorrhagic Heart Attacks) differently.
As ischemic strokes and hemorrhagic strokes carry a higher level of risk, TIAs, also known as mini-strokes, usually don't.
Moreover, you will have to tell the underwriter how many strokes you have had of each type. TIAs are often precursors to strokes, as you are aware.
A MRI, CT scan, or ultrasound is often preferred by underwriters as an imaging test to confirm your stroke type.
4. What symptoms did you experience? Carriers are specifically interested in learning how serious your stroke symptoms were.
● Symptoms such as these have you experienced?
● Irregular muscle contractions or paralysis
● Impairment of vision
● Having difficulty speaking
● Dizziness or fatigue throughout the body
● Limbs are numb
● Confusion in the mind
● Numbness of the face
5. How many of your effects are left? You may be experiencing long-term symptoms after a stroke depending on its type and severity.
If any of the following applies to your application, let the underwriter know.
● Problems with speech
● The loss of memories
● Changes in personality or behavior
● Problems with vision
6. Are you taking any medications? During the application process, prescriptions are checked regularly.
In the process of evaluating a prescription, the underwriter considers the benefits and risks associated with the drug.
The medications prescribed most commonly to patients include alteplase, blood thinners, statins, antihypertensive medications, and ACE inhibitors.
There are different types of risk classes for different kinds of drugs, according to life insurance companies.
In general, however, underwriters look for proactive, responsible actions toward your health, such as taking prescribed medications.
7. Is there a cause underlying the problem? Strokes are most often caused by pre-existing conditions.
● If any of the following apply to you, consider disclosing them:
● Strokes or TIAs in the past
● Blood cholesterol is high
● Having a heart condition
● Illness associated with sickle cells
If you have an underlying health condition, you may not be approved for traditional coverage. You could benefit from the guidance of an independent agent.
8. Would you like to follow up with your doctor? Are you a regular patient of your doctor? Follow the advice of your doctor?
Health choices that are consistent with doctor visits and consistent doctor visits are highly regarded by life insurance companies.
In this way, your medical history is recorded. You will not be able to verify your health status if that is not the case.
9. Has there ever been a stroke in the family? The health history of your siblings and parents, as well as those of your blood relatives, will be asked.
Heart attacks, high blood pressure, and high cholesterol usually run in families.
A health condition diagnosed earlier in life, such as when your loved one is 60 years of age or older, will not be considered a risk by most life insurance carriers.
10. How do you feel right now? In the interest of assessing your risk, underwriters want to know how healthy you are. What kind of diet do you follow? Do you exercise regularly?
Strokes are often associated with other health problems.
● high blood pressure
● high cholesterol
● tobacco use
Bottom line – In order to obtain affordable term life insurance, like 20-year term life insurance, you need to take diligent action geared toward taking care of your health.
Steps to follow: Having a stroke does not eliminate the need for life insurance. For term coverage, you'll need to meet the following requirements:
● A TIA usually occurs after 3 months (often longer)
● Stroke 12 months ago
● Rates are preferred after 10 years since stroke
● Medical care demonstrated in a proactive manner
● Choosing a healthy lifestyle
Until they reach the minimum time requirement, many people find that guaranteed issue life insurance is a good choice, at least temporarily.
Two steps must be taken:
A partnership with an independent agent can be beneficial. By doing this, you will be able to find coverage from several different companies, which is crucial if you have suffered a major health event.
Keep a record of your health. Take note of your medical history, prescriptions, and details about your doctor in order to find the best policy for you.
Write something about yourself. No need to be fancy, just an overview.