How to Get Life Insurance After a Stroke
Getting life insurance after a stroke doesn't always have to be expensive. How much your life insurance rates will increase after a stroke depends on the severity of the stroke and how well your rehabilitation is going. Keeping up with your rehabilitation will not only make life after a stroke easier but might help you get life insurance after a stroke for as low as $30.41/mo.
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UPDATED: Oct 28, 2020
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Stroke is a severe type of cardiovascular disease that affects the arteries leading to and within the brain. Strokes can be severely debilitating and even lead to death.
With this in mind you may be wondering can you get life insurance if you have a stroke?
In this article we will focus on how to buy life insurance after a stroke and provide some helpful tips on ways to improve your chances of getting the best possible rate for term life or permanent life insurance.
The best way to keep your family protected is to acquire affordable life insurance long before you might be susceptible to any health issues. Get started now with a look at life insurance rates after a stroke now by using our free quote generator.
Getting Life Insurance After a Stroke
When you apply for a life insurance policy, you will have to take a medical exam.
During this exam, you will be asked questions about your family history, medical history, lifestyle, and smoking and alcohol usage. The person administering the exam will measure your height, weight, pulse, and blood pressure. Based on these indicators a life insurance underwriter will make a determination whether you can qualify for the best life insurance rate band.
To get an indication of how much the lowest rates are, check out this table.
|Age||Average Monthly Rates for a Male, $100,000 Policy||Average Monthly Rates for a Female, $100,000 Policy||Average Monthly Rates for a Male, $250,000 Policy||Average Monthly Rates for a Female, $250,000 Policy||Average Monthly Rates for a Male, $500,000 Policy||Average Monthly Rates for a Female, $500,000 Policy|
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Life insurance underwriters consider all of your risk factors in determining your rates. Life insurance rates after a stroke will be higher simply because you are at a higher risk of death after a stroke.
What happens to life insurance rates after a stroke?
However, life insurance companies will also consider the severity of your stroke and whether you have had any additional stroke symptoms or issues over time. Life insurance after a mini stroke will be easier to get than after a major one.
After about six years with no recurrences and a good health history, you may be able to qualify for better rates.
What Life Insurance Companies Look For After a Stroke
Can you get life insurance if you are ill?
Life insurance companies are concerned that those who have a history of stroke are taking the proper precautions to keep it under control. A medical history of regular physician checkups is important to the company.
The life insurance company will be looking specifically at:
- When you were diagnosed
- What your diagnosis was
- Age of diagnosis
- What steps you have taken since your diagnosis
- The degree of control as illustrated by medical records, height/weight and lab test results
- What type of treatment
- Any other medical conditions present
- Whether you are a tobacco user
Keeping up with any after stroke rehabilitation will not only serve to expedite your road to recovery, but will also serve as a good indicator that your risks are lower and manageable.
How to Prepare for Your Term Life Insurance Application If You’ve Had a Stroke
There are important measures you can take to prepare yourself before applying for term life insurance. Doing so will help your chances of getting approved for the best rating class possible. Use the following tips to put yourself in the best position to win:
- Visit your doctor as often as recommended.
- Follow your doctor’s advice regarding medication and treatment.
- Make sure your medical records are regularly updated. This is crucial!> The life insurance company will rate your application poorly if it is unable to determine your level of control.
- Get any other complications under control. For example, if you also have high blood pressure, make sure it is being treated as well.
Be prepared to show any history of complications but also be willing to provide any accomplishments as you recover. For instance, if you smoked, having records of your actual quit date shows that your on track with recovery.
What our Experience has Shown About Applying for Life Insurance After a Stroke
We’ve helped thousands of people apply for term life insurance, and many of those people had a history of stroke. Here are a few things we’ve learned:
- Premiums are lower for those who diet and exercise or keep their blood pressure down with medication
- Premiums are higher for those who do not follow up with a doctor regularly.
- We recommend getting a policy in force first at a premium rate you can afford. You can then focus on improving the rating class through better control or lab results.
Remember, insurance companies want you to live long healthy lives.
Life insurance payout for a stroke means that the insurance company had to pay earlier than it had hoped.
Real Examples from Real Customers of Life Insurance Policy Applications After a Stroke
Georgia applied for term life insurance from Prudential Life Insurance when she was 55 years old.
- No other additional conditions found
- No other incidents occurred
- Visits doctor regularly
- Non smoker
- Outcome: Approved at a Standard rating class
- Premium: $365 annually
Not So Good Outcome:
- Samuel applied for term life insurance when he was 53 years old.
- Diagnosed with stroke at age 53
- Diagnosed with transient ischemic attack
- No other additional conditions found
- Non Smoker
- Outcome: Postponed until more time has passed to stabilize condition
Jerry applied for term life insurance when he was 51 years old.
- Diagnosed with stoke at age 50
- Diagnosed with hemorrhagic stroke
- Visits doctor regularly
- Tobacco user
- Outcome: Declined
You can see Georgia had the best outcome because her condition is mild and stable. Receiving regular follow up appointments with her doctor also helped.
Samuel’s stroke was more severe, and although he had no other medical conditions and good follow up results, his more recent stroke gave him a worse prognosis. He will have to wait at least six months before he can be considered for term life insurance.
Finally, Jerry had the poorest outcome. His stroke was the most severe and his condition is not stable. This along with his tobacco use resulted in the decline of his application until he can stabilize his condition and quit smoking. Jerry might want to consider guaranteed issue life insurance.
What is the life expectancy of a stroke patient? Can you live on your own after a stroke? According to the American Stroke Association, strokes patients can be fully rehabilitated, however proper care and treatment is vital. As of 2015, the following numbers show the significance of stroke:
- According to the American Stroke Association, a stroke occurs, on average, every 40 seconds.
- Stroke is the No. 4 cause of death in the US, killing nearly 129,000 people a year.
- Stroke kills one person in the US every four minutes.
- 795,000 people suffer a stroke each year.
- Of every five deaths from stroke, two occur in men and three in women.
In addition to the immediate impact on day-to-day life, getting car insurance after a stroke might become more difficult.And consider that although a stroke itself is not a designated pre-existing condition, getting health insurance after a stroke might be a challenge since it strokes do not fall under the pre-existing insurance protection laws.
Does life insurance cover a stroke?
If life insurance is in force and premiums have been paid when the insured dies as the result of a stroke, the life insurance policy will be paid out in accordance with the terms.
Life Insurance After a Stroke: The Bottom Line
The good news about applying for term life insurance when you have a history of stroke is — yes, you can qualify for coverage! The bad news is the approval, and rating class can be very unpredictable and subjective. However, if you follow the advice we’ve provided and, more importantly, discuss your situation with your life insurance agent or broker, you can have a positive outcome.
And remember, if you are not pleased with the offer you receive, you can always try with another company or put the policy in force and work on improving the rating class through better control and lab results.
Let us put you on the right path right now. Use our free rate generator and get a customized quote for afforable life insurance after a stroke in just seconds. Secure your quote now and protect the ones you love should anything happen later.