Life Insurance After A Stroke

by Jeff Rose on April 9, 2013

Life Insurance After A StrokeEven after experiencing a stroke, people would like to purchase life insurance. They may believe that it would be impossible, but this is not always the case. People can purchase life insurance after a stroke.

Companies that sell life insurance after a stroke will need to ask several questions about the type of stroke applicants suffered. They will decide whether or not the applicant is insurable based on the type of stroke, how long ago the stroke occurred and other medical history. Some people will remain uninsurable because they have had more than one stroke. However, the possibilities are open to those who have only had one stroke.

The Cerebrovascular Accident

The technical name for a stroke is “Cerebrovascular Accident (CVA), and it has several causes. A stroke occurs when a blood vessel becomes blocked and is prevented from sending the brain necessary oxygen and nutrients. Loss of oxygen causes the brain’s cells to die. Those who obtained treatment right away and survived may apply for life insurance after a stroke, but they are likely to be required to wait 12 months before they will be able to purchase a policy.

The Transient Ischemic Attack

Another type of stroke is a Transient Ischemic Attack (TIA). This type of stroke is considered to be less serious than other types of strokes because the symptoms do not last, and the sufferers recover from their symptoms in about a day. A clot may have formed within the brain in this instance. It’s also possible that a clot formed elsewhere and traveled to the brain. Either way, the clot prevents the brain from receiving oxygen and nutrients, and sufferers experience the symptoms of a stroke.

A history of TIA is interesting to insurance companies because a TIA is believed to be a good predictor of a larger stroke in the future. Because a TIA can lead to something much more serious, those who are seeking life insurance after a stroke will need to inform the company of what caused the TIA. They will need to let them know how old they were when the TIAs occurred and how many TIAs they have experienced. They will also need to be forthcoming about any other medical conditions from which they currently suffer.

Even though people have had several TIAs, this does not end their chances of purchasing life insurance. They will, most likely, need to wait one year after they first apply for the coverage. If they only have one TIA in their medical histories, the waiting period will be six months.

How Much Will Coverage Cost after a Stroke?

Those who have had a stroke will not be asked to pay the lowest rates, but they will not necessarily be charged the highest rates either. For example, applicants that have not suffered any side effects from their strokes may need to pay about $100 above the Standard rate. However, if at least six years have passed without any demonstrable side effects, they will qualify for the Standard rate. If not, they will only be asked to pay a small increase.

Improving Your Chances of Purchasing Life Insurance

During the waiting period, people can do many things to become insurable after a stroke. If they were smokers before they experienced a stroke and quit, this would be a positive sign to the insurance company. Seeing their doctors regularly and taking medications that may prevent a second stroke will also be met with a positive reaction. Changing their eating habits so that they are not consuming food that contributes to strokes further improves their chances of being given the opportunity to purchase life insurance.

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