Life insurance companies use a host of criteria to determine the risk associated with individual applicants for life insurance policies. Through a process called underwriting, a company evaluates factors such as age, current health, medical history, etc. to place applicants within specific risk classifications. These risk classifications are then used to determine the coverage and premium offer the life insurance company will make on each application.
Medical history plays a major role in determining risk classifications, for obvious reasons. What some consider to be a minor health problem may indeed be considered a major concern by a life insurance company.
One example we sometimes see is a Transient Ischemic Attack or TIA for short. A TIA has symptoms very similar to a stroke; however, the symptoms typically last for only a short period. Thus many people do not treat them seriously or even seek treatment at all. In fact, a recent study published in the journal Stroke shows only one out of ten people with TIA symptoms sought emergency treatment.
TIA’s are often referred to as ‘mini-strokes, ‘ and their symptoms may include:
- Impaired Speech
- Impaired Sight
- Impaired Coordination
- Severe Headaches
According to the American Heart Association, approximately 33 percent of people who suffer a TIA will also suffer a stroke at some time in their lives. For that reason, life insurance companies consider medical history of TIA to be very serious.
If you have specific questions about TIA, medical history or any other underwriting criteria, please ask one of our licensed Account Managers here at QuickQuote.