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Can I Get Life Insurance after A Stroke?

life insurance after a stroke
Insurance Quotes 2 Day Team

Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University, a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA and Top of the Table member of the Million Dollar Round Table (MDRT). Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

 4 minute read

How to Find Affordable Life Insurance After a Stroke

Many people who have had a stroke worry that they can no longer buy life insurance.

Either the premiums will be too high, or they will be declined outright.

While a stroke is something life insurance companies are very concerned about during underwriting, there are still options. 

Can I get life insurance if I have had a stroke?

A major concern for life insurance companies is the tendency of strokes to reoccur. If you have recently had a stroke, most life insurance companies will delay your approval for six to twelve months.

A study published by the US National Library of Medicine found that the risk of reoccurrence of stroke in five years is 30% and 13% in one year, but after the first year, the annual risk of reoccurrence is about 4%. The conclusions of this study asserted that efforts “at secondary prevention should be initiated as soon as possible and continued for several years to gain the greatest benefit.”

The study’s conclusion about the benefits of prevention means that stroke sufferers are not doomed to pay super-high life insurance premiums or go without a policy at all. The Mayo Clinic says the “good news is that strokes can be treated and prevented, and many fewer Americans die of stroke now than even 15 years ago.”

Facts about Stroke Survivors from the CDC

Based on the information from the CDC, here are some key statistics that can be included in an infographic about life insurance after a stroke:

  • Every year, over 795,000 people in the United States have a stroke, with about 610,000 of these being first or new strokes
  • Stroke is a leading cause of serious long-term disability, impacting mobility in more than half of survivors aged 65 and older.
  • The financial impact of strokes is significant, with stroke-related costs in the United States amounting to nearly $56.5 billion per year.
  • The risk of having a stroke is nearly twice as high for non-Hispanic Black adults as for White adults.
  • A stroke can occur at any age, but the risk increases as we age.

Guidance for Stroke Survivors Seeking Life Insurance

This is something life insurance companies consider paramount when underwriting a client with any impaired risk. There is a direct correlation between a proposed insured’s level of effort to treat and control any disease or disorder that is “impairing” their risk and the willingness of life insurance companies to place that client in a much more favorable (and affordable) rating class. 

If you commit yourself to a program of health and stroke prevention, including lifestyle changes and physician recommendations, your chance of a long life increases dramatically. Once your health improves, you can reapply for life insurance.

A stroke is a dangerous but treatable condition, and there are life insurance companies that rate your risk based on this knowledge.

We have access to all the top carriers that work with stroke victims.  We do our best to find the lowest rates available. We know which insurers rate stroke victims most favorably, so underwriters will place you in the best risk category possible.

The types and results of tests you have taken after your stroke are important.

First is the  CT or CAT scan (computerized axial tomography).

This is a series of X-rays that show whether there is bleeding in the brain and whether your stroke was ischemic or the more serious hemorrhagic type. Life insurance companies are also interested in the results of an electrocardiogram (EKG or ECG), which will reveal any heart problems that contributed to your stroke.

Can I get life insurance if I have had a stroke?

Life insurance companies are also concerned with your blood work.   Additionally, your life insurance company will consider the type of stroke you have had, the amount of damage that has occurred, any residual effects of your stroke, and the medications you are taking.

We are very familiar with helping clients who have had a stroke. 

Recently, we were able to insure a stroke victim at a standard smoker rate on a  life insurance policy for $1,200,000.  This was a universal life insurance policy with Lincoln Financial.   Our client was 64 years old and still smoked cigarettes. 

He had lost the use of the left side of his body, but we were able to get the standard tobacco offer still.  Other than the stroke and the fact that he was still a smoker, he was still healthy.  He controlled his blood pressure and cholesterol and had no diabetes. 

The Costs of Life Insurance After a Stroke

A risk assessment can possibly help you save thousands of dollars in life insurance premiums over the course of your policy.

This involves shopping around for all of the insurance companies.  Dealing with underwriters and impaired risk like stroke are best left to the experts. 

It might seem impossible, but snagging an affordable policy after a stroke is possible, but we can make it simple.

You should start by using the life insurance calculator on the side of this page.

 

Frequently Asked Questions

I recently had a stroke, can I get life insurance?

A major concern for life insurance companies is the tendency of strokes to reoccur. If you have recently had a stroke, most life insurance companies will delay your approval for six to twelve months.

What will a life insurance company need to know if I have had a stroke?

They will need to know what types and results of tests you have taken after your stroke. First is the CT or CAT scan (computerized axial tomography). This is a series of x-rays that shows whether there is bleeding in the brain and also whether your stroke was ischemic or the more serious hemorrhagic type. Life insurance companies are also interested in the results of an electrocardiogram (EKG or ECG) which will reveal any heart problems that contributed your stroke.

Will I be able to get life insurance after a stroke?

Your life insurance company will consider the type of stroke you have had, the amount of damage that has occurred, any residual effects of your stroke and medications you are taking.

What if I cannot qualify for life insurance after a stroke?

If you have had a severe stroke and have been declined for life insurance you can go with a guaranteed issue policy. The premiums will be higher and the coverage amount likely will be less, but at least you will have some coverage.

author avatar
Doug Mitchell, CLU Independant Advisor
Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent almost 30 years in the life insurance industry and has also held licenses to sell securities, long-term care insurance and home and auto insurance. Doug is a Top of the Table Million Dollar Round Table member (MDRT).  MDRT is a global, independent association of the world's leading life insurance advisors.  For two years, Doug served as President of the Auburn Opelika Association of Financial Advisors and has been a member of the Million Dollar Round Table. He obtained Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award. Later in his career with New York Life he was an Executive Council Member. Doug currently serves as President of Ogletree Financial, a managing general agency serving life insurance agents and clients in all parts of the United States. Today, Doug’s main focus is servicing 1000s of policyholders.

2 Responses

  1. My name is Michael Aldrich, 55 years of age and working full time as a roofing manager. I had an ischemic stroke in August 5th 2017.
    I do take different medications. I have never smoked and try to exercise when I can.
    I don’t have the strength I used to but have mobility on both sides.
    I’m looking for a $25,000.00 life insurance but all I have now is a $100,000.00 accidental policy.
    I’ve been turned down couple of years ago.

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