Life Insurance Post-Stroke: Is It Possible?

Life insurance is a complicated matter, and it can be challenging to secure a policy after experiencing a stroke. A stroke is a serious medical event that can impact your ability to obtain life insurance and increase your premiums. The good news is that it is still possible to get life insurance after a stroke, but there are important factors to consider. The type of stroke, time since the stroke, age, lifestyle choices, and recovery progress will all play a role in determining eligibility and rates. Understanding these factors and working with a knowledgeable broker can help increase your chances of obtaining affordable coverage.

How do life insurance companies view your stroke?

The first thing underwriters will consider is what type of stroke you had. Strokes are characterised into two main types:

• TIA (Transient Ischemic Attack) or "mini-stroke". A TIA is caused by a small temporary blockage of an artery, which results in temporary neurological impairment. Symptoms may include dizziness, blurred vision, speech impairments, and general weakness. Since there is no permanent damage, medical records are often made up of observations rather than testing. While less significant than a full stroke, a TIA is still considered a risk factor for a future CVA. People who have had a TIA can usually qualify for better insurance rates than those who have had a full stroke.
• CVA (Cerebrovascular Accident) or "full stroke". This occurs when one or more blood vessels in the brain are blocked or ruptured, leading to some level of permanent brain damage. Underwriters consider this a substantial risk and adjust health ratings accordingly. A CVA will typically result in higher insurance rates than a TIA.

After determining the type of stroke, underwriters will consider other factors, including:

• The date of stroke occurrence and age at the time of the stroke.
• Whether it was a first stroke or if there have been multiple occurrences.
• The time elapsed since the most recent stroke.
• The type of studies/tests conducted (e.g., EKG, MRI, CT Scan, Carotid Ultrasound).
• The symptoms experienced during and after the stroke.
• The cause of the stroke (e.g., Lacunar, Atherosclerotic/Thrombotic, or Cardioembolic).
• Family history of strokes.
• Medications being taken and any diagnoses of hypertension, diabetes, coronary artery disease, or peripheral vascular disease.
• Previous or current tobacco usage.

These factors will be used to assess the risk associated with your stroke and determine your insurance rates.

What questions will the insurer ask?

• Date of stroke occurrence.
• Age at the time of the stroke.
• Type of stroke: diagnosed as a mini-stroke (TIA) or full stroke (CVA).
• First stroke occurrence? If not, when were the others?
• What studies were done post-stroke? (EKG, MRI, CT Scan, Carotid Ultrasound, etc.)
• Describe symptoms at the time of the stroke.
• (for CVA) Is the cause Lacunar, Atherosclerotic/Thrombotic, or Cardioembolic?
• Did symptoms linger after the stroke? Which ones?
• Any family history of strokes?
• Medications you are taking.
• Any diagnosis of hypertension, diabetes, coronary artery disease (CVD), or peripheral vascular disease (PVD)?
• Previous or current tobacco usage.
• Post-stroke medical records and lab test results.
• Treatment and recovery progress.
• Additional underlying medical conditions.

How important is the time since your stroke when applying?

The time since your stroke is very important when applying for life insurance. Strokes have a high tendency to repeat, with more than 1 in 4 people who suffer a stroke experiencing a second occurrence at some point in their life. The risk of a second stroke within 5 years of the first is about 40% higher. This means that the more time that has passed since your stroke, the better your chances of getting approved for life insurance.

Some carriers won't consider your application for 3 to 12 months after a stroke. This is referred to as a "postponement". After a year, your options open up considerably in terms of the companies you can apply to. Usually, you can get coverage sooner after a Transient Ischemic Attack (TIA) or "mini-stroke" than you can following a Cerebrovascular Accident (CVA) or "full stroke".

Six years after the stroke (with no complications), you will see rates drop with most insurance providers. While you still pose a risk, enough time has passed that it is considered a lesser risk. After 10 years, some carriers will only increase your premium very slightly, assuming good health and positive lifestyle choices since the stroke.

It is important to note that you should not delay getting life insurance coverage while waiting for these timelines. It is better to get some coverage now, even if it is more expensive. You can then request a reconsideration as more time passes and your health improves.

Does my age at the time impact my application?

Yes, your age at the time of the stroke will impact your insurance application. Underwriters will consider the age you were when you experienced a stroke. If you are younger, underwriters may consider this a sign that you may have other life-threatening conditions. If you are older, you are more likely to have other medical conditions that will negatively affect the rating underwriters give you.

Generally speaking, if you were 55 or 60 years old or older when you suffered the stroke, you may not be penalised as much for having a stroke. However, if you are younger, most underwriters will consider it and are therefore likely to rate you lower.

It's important to bear in mind that this same measure for age will be used to examine your family's history with strokes. If your immediate family members suffered strokes early in life, this will lead to an increase in the cost of your life insurance.

What can I do to get lower rates?

Getting approved for life insurance after a stroke is challenging, and the rates can be high. However, there are ways to improve your chances of getting approved and reduce your rates. Here are some things you can do to get lower rates:

• Time since the stroke: The longer it has been since your stroke, the better your chances of getting approved for life insurance. Typically, insurance companies will want to wait for at least six months to a year after a stroke before considering your application. The risk of a second stroke is highest within the first five years, so if you can show that you have passed this milestone without any complications, your rates may drop. After six years, you will see the rates drop with most insurance providers, and after ten years, some carriers will only charge you a small amount extra.
• Type of stroke: The type of stroke you experienced will impact your insurance rates. A Transient Ischemic Attack (TIA) or "mini-stroke" is less significant than a full Cerebrovascular Accident (CVA) stroke. A TIA is temporary and usually results in no permanent damage, whereas a CVA can cause permanent brain damage. As a result, a person who has had a TIA will usually qualify for better rates than someone who experienced a full stroke.
• Improve your health and lifestyle: Making healthy lifestyle choices can help reduce your insurance rates. This includes quitting smoking and using other tobacco products, reducing alcohol consumption, getting regular exercise, and improving your diet by reducing saturated and trans fats. Keeping your blood pressure low is also important. Documenting these changes with your doctor is crucial, as you will need proof when applying for insurance.
• Address underlying health conditions: There may be underlying health conditions that contributed to your stroke. Addressing these conditions and reducing the risk of additional strokes can help lower your insurance rates. Talk to your doctor about ways to manage these conditions and improve your overall health.
• Work with a broker or agent: Navigating the world of life insurance after a stroke can be complex. Working with an independent broker or agent who understands the process and has experience helping stroke survivors can be beneficial. They can help you find the right insurance company and policy for your specific situation and guide you through the application process.
• Consider alternative policy options: If you are unable to qualify for a traditional life insurance policy, there are alternative options available. A no-exam life insurance policy may not require a medical exam, although it may still ask medical questions and consider your health history. A guaranteed issue life insurance policy does not require a medical exam or questionnaire, so your health is not a significant factor in getting this policy. However, these policies are typically only available for lower amounts of coverage.

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