Can I Get Life Insurance After A Stroke?

Can I get life insurance after a stroke

Life insurance is one of those purchases that carries significant weight. It’s important to always make the right decision for you and your family’s financial security and wellbeing. Without doing so can leave your family exposed to financial ruin if something god forbid did ever happen to you. Along the way, you may run into many questions. One of the questions we hear frequently at Good Life Protection is simple in nature.

Can I get life insurance after a stroke? After years in the industry and experience underwriting these cases, here is what I can tell you.

So, can I get life insurance after a stroke? Yes, you can get life insurance after a stroke. It will depend on the severity of the stroke, how long ago the stroke was, and your current health. Other factors in relationship to your stroke will also be considered such as if it was a full stroke or mini-stroke.

Those are a few of the main factors but it barely scratches the surface of what the process will be like trying to obtain life insurance after a stroke. If you stick around for just a moment, we will break everything down for you and give you the full scope view of what to expect when getting life insurance after a stroke.

However, we always recommend that if you are trying to save time that you should stick to comparing rates and quotes with all life insurance companies.

You can do this easily below using our instant life insurance quotes rate engine to compare rates with 50 of the top rated life insurance companies.

You can do this easily by using our rate engine directly below.

Let’s begin

Life Insurance Underwriting, The Questions Asked After a Stroke

It’s important to understand that anytime you apply for life insurance that questions will always be asked. Questions about your health and in this scenario, the life insurance agent, company and underwriting department will have plenty of questions in relation to the stroke. Here’s what some of those questions may look like.

Any History of:

Some of these questions may seem deep or involved, but the life insurance company needs to gauge the severity of the stroke and the overall risk that you pose.  This helps the company to charge and issue policies at the right premium. It also helps the life insurance company understand if they should even approve the case.

Sometimes, unfortunately, a declined life insurance application will happen after a stroke. It’s just how it goes, but we are here to help.

Medication Overview for Life Insurance After A Stroke

Medications in relationship to your stroke and outside of your stroke condition are always important factors to consider.  In most situations, following a stroke, you will be on some very common medications that we see all the time at Good Life Protection. Here’s a look at some medicine that we frequently handle for individuals who have had a stroke.

  • Aspirin
  • Statins
  • High Blood Pressure Medication
  • Plavix
  • Anticoagulants

Once we as the agency have all this information, it’s time for us to double check on the factors that may impact your application outside of the stroke itself which can begin with some common questions and learning more about your total health picture. Here are some other common questions we would ask during the application process.

The Stroke Isn’t the Only Factor with Life Insurance

You see, many people are under the impression that because the stroke was the most recent and biggest health event that has ever occurred that it’s the only relevant piece of information that needs to be passed on to the life insurance companies, agents and underwriting departments.

This couldn’t be further from the truth. We need the entire picture to allow the company to do an accurate reading towards giving you the best overall chances at being approved for life insurance and being accepted at great rates.

What Kind of Ratings Can I Expect with My Life Insurance After a Stroke?

After a stroke, it’s important that we keep your expectations in check and do the best we can to help you understand where you may land after your application. Applying for life insurance thinking it will be extremely cheap after something such as a stroke is not very likely.

If you know this ahead of time, it’s easier to find a carrier that matches you best and for you to understand your chances and overall prices you may pay once the application is approved. Here’s a look at the possible rates you can expect.

Preferred Plus- This won’t happen after a stroke. Even a stroke that has no lasting impacts. Preferred plus is reserved for the top of the top health class and it requires applicants to be extremely squeaky clean. This rating is thrown out the window after a stroke has occurred.

Preferred- This is the second-best health class in life insurance. Unfortunately, this is also not going to be where you land in nearly all circumstances if you have had a stroke.

If, however, you have had a TIA stroke and your health is perfect outside of the TIA, and the TIA left no great impacts and plenty of time has elapsed, it could be possible but still very rare to achieve this rating after a stroke.

Standard- This is going to be your best class. This is where you will likely land if everything on your application looks fantastic after you have had a stroke. It’s a more likely scenario for those of you who have had a stroke but everything outside of the stroke is healthy, and no other issues exist.

Substandard Ratings- This could also be a very likely landing spot for you if you have had a stroke and are applying for life insurance. I’d say this is where I see most people who have been impacted by a stroke end up after the underwriting process is complete. This isn’t a bad thing. It just means you pay a little bit more for coverage compared to your average life insurance buyer.

Declined Life Insurance Application- Unfortunately, this happens as well and is just something we need to be prepared for. These are going to happen most often when you are applying for life insurance within 6 months of the TIA or 1 year of a full stroke.

Other health problems that could cause you to be deemed higher risk could be another reason for a decline.

How Do You Prepare to Apply for Life Insurance After A Stroke?

First and foremost, keep your expectations in check and understand the process. If you have had a stroke, it may take some time to get your application fully underwritten and ready to issue and approval. Also, you need to be prepared that you may be declined coverage altogether.

These things happen, and it’s not your fault in these situations. Next, you need to get all your ducks in a row. Get your medical records ready to go and have all the significant dates and medication about your case prepared to relay to your agent and the examiner for the paramedical exam.

Outside of that, you need to work with an independent agent. We can shop your case with hundreds of life insurance companies and ultimately find you the best overall prices. Not to mention, we understand these high-risk medical conditions and know that they need special attention to be approved.

You can rest assured that we have your back.

Don’t Ignore Guaranteed Issue Life Insurance After A Stroke or Burial Coverage

Burial Insurance for stroke victims in the form of a graded or no questions asked life insurance policy may be a great option for you.

Guaranteed issue life insurance is still a good option if you are declined for traditional life insurance. It can even provide your family with some safety from financial ruin and give a nice check to them if you do pass away.

Always, remember as well that even though you opt to take a guaranteed issue policy doesn’t mean you can’t reapply for the traditional coverage down the road.

What is Guaranteed Issue Life Insurance Anyways

Guaranteed Issue Life Insurance is merely a life insurance policy that will ask no medical questions, and you are guaranteed to be approved with minimal background information needed. They are legitimate policies but, in the event, something happens to you in the first 24 months of the policy, you would only be provided your money back (premiums paid) plus 10% interest earned.

If you are making it past the 24-month mark, it will act like any other whole life insurance policy on the market. We recommend considering AIG or Gerber for these policies when you do begin to shop around.

Accidental Death Life Insurance

Accidental death life insurance policies can be another perfectly viable option for your family. It’s only going to cover you if you pass away due to an accident, but some coverage is still better nothing when it comes to protecting what matters most.

These policies are relatively cheap and will allow for considerable death benefits. I’d recommend using a company such as Mutual of Omaha if you are looking for the best accidental death coverage you can find.

Putting It All Together. Yes, You Can Get Life Insurance After A Stroke

As we have stated throughout this post, you can surely get life insurance after a stroke. Especially if it’s been more than 1 year and the lasting impacts of the stroke are minimal. You do need to be prepared to answer some questions (provide detailed answers), have some patience through the process and get your medical records and pertinent information ready to go.

With an Agency like Good Life Protection, we can shop your case with hundreds of the top-rated life insurance companies. This allows us to find a company that’s specifically tailored to accept the risk of the stroke and provide you coverage at the lowest possible rates. To get started, all you need to do is fill out the quote form on the right.

It will allow you to compare rates with all these top, trusted companies that we all know and trust. So, what are you waiting for? Your family deserves the coverage, and so do you.