Life Insurance Post-Tia: What You Need To Know

A transient ischemic attack (TIA) or 'mini stroke' is a temporary interruption to the regulatory system that can manifest as dizziness, weakness, or shortness of breath. While it is possible to get life insurance after experiencing a TIA, insurance companies will scrutinise applicants closely, and there are requirements that should be understood before applying.

Life insurance after a TIA: is it possible?

Transient Ischemic Attack (TIA), or mini-stroke, occurs when the blood flow to the brain is restricted or blocked for a short period of time. It usually lasts less than 24 hours and rarely causes permanent damage. However, it can be an indicator of a higher risk of a full stroke in the future.

Yes, it is possible to get life insurance after a TIA, but the options available to you will depend on several factors, including the severity and timing of your TIA, as well as the insurer you apply to. Some insurers may decline your application if the TIA occurred recently, but there are still options available.

Insurers will want to understand the cause and impact of your TIA to assess your risk level. They will likely ask questions such as:

• When did you have your TIA?
• How many mini-strokes have you had?
• Do you have any lasting symptoms?
• Was your TIA linked to another condition?
• Are you taking medication to reduce the risk of another TIA?
• What was the cause of your TIA?
• What tests did you undergo after your TIA?
• Did you experience any lasting neurological issues or other residual effects?
• Are you experiencing any other health issues that could contribute to another TIA?
• What medications are you currently taking?

The type of life insurance and the rates you qualify for will depend on the timing and impact of your TIA. Here are some general guidelines:

• Standard terms: In some cases, you may be able to get life insurance at standard terms, meaning no price increase. This will depend on the severity of your mini-stroke, when it occurred, and the insurer.
• Sub-standard rates: If you apply for life insurance at least six months to one year after a TIA and do not present any lasting damage, you will likely be offered a sub-standard rate.
• Preferred rates: It is rare, but if you are in otherwise perfect health or if the TIA was found to be misdiagnosed, you may be able to get a preferred rate.
• Declined: If you apply for life insurance within six months of a TIA or one year of a full stroke, you may be declined for traditional life insurance but can still get a "guaranteed issue" whole life insurance policy, which has a lower coverage amount and a waiting period.

If you are unable to get life insurance through standard means, there are still options available. You can explore "guaranteed issue" policies, which do not consider your health but come with higher premiums and lower coverage amounts. You can also look into group life insurance, which is arranged by employers and does not require medical underwriting. Additionally, income protection policies can provide a replacement income if you are unable to work due to ill health, but they may have exclusions for cerebrovascular events.

In summary, while a TIA can complicate the process of obtaining life insurance, it is still possible to find coverage that suits your needs. It is important to be open and honest about your medical history to ensure you get the right protection for yourself and your family.

How does a TIA affect life insurance rates?

A transient ischemic attack (TIA) or mini-stroke can affect the cost of your life insurance rates in several ways. Firstly, your age plays a significant factor in determining your insurance rates. If you are younger, especially under the age of 45, you will likely be classified in a lower health class and pay higher rates for life insurance. On the other hand, older applicants, especially those over 70, may fall into a higher health class and receive better rates. The time since your TIA also matters; most insurance companies will approve mini-stroke survivors after six months, with health classes improving one year after the event. The best health classes are usually reserved for survivors who are 5 to 10 years removed from the TIA.

The cause of your TIA will also impact your insurance rates. If it was caused by plaque in the arteries or high blood pressure, your rates may be higher than if it was due to a one-time event or accident. For individuals over 55, if the cause is unknown, underwriters typically assume it was due to atherosclerotic plaque. Additionally, if you have any residual side effects or long-term harm from the TIA, your premiums are likely to increase. An isolated TIA incident will generally receive a better health class than multiple or recurrent TIAs.

Your treatment and medications for TIA will also be considered. Adhering to your treatment plan and regularly visiting your doctor can improve your health class. Certain medications, such as those for high blood pressure or high cholesterol, can impact your rates. Smoking will also significantly impact your insurance rates, as it increases the risk of stroke and mortality.

Other health conditions, such as diabetes, valve disorders, coronary artery disease, or atrial fibrillation, can further lower your health class and increase your life insurance rates. It's important to be open and honest about your medical history and current health status to ensure you get the most accurate rates.

What questions will insurance companies ask?

• When did you have your TIA?
• How many mini-strokes have you had?
• Do you have any lasting symptoms from the TIA?
• What was the cause of your TIA?
• Was your TIA linked to another condition, such as diabetes or high cholesterol?
• Are you taking any medication to reduce the risk of having another mini-stroke?
• How long did your symptoms last?
• How many times have you suffered from a TIA?

In addition to these questions, the insurance provider may also request a report from your GP to support your application. This report is usually arranged and paid for by the insurer.

What is the process for underwriting after a TIA?

The underwriting process for life insurance after a Transient Ischaemic Attack (TIA) or mini-stroke involves assessing the risk associated with insuring an individual with a prior medical condition. Here is a step-by-step guide to the underwriting process in this context:

Step 1: Understand the TIA and its Causes

The underwriter will first need to understand the nature of the TIA and its underlying causes. This includes determining whether the TIA was caused by plaque in the arteries, high blood pressure, or a singular event/trauma. The likelihood of recurrence is an important factor, with TIAs caused by one-time events being less likely to recur and thus viewed more favourably by insurers.

Step 2: Assess Age and Health Status

Age plays a crucial role in the underwriting process. Younger applicants who have experienced a TIA will often be classified in a lower health class, resulting in higher premiums. Being older, especially over the age of 55, can improve the health class and lead to more favourable rates. The time since the TIA occurred is also significant, with most insurers approving coverage after six months to a year.

Step 3: Evaluate Treatment and Medication Adherence

Underwriters will want to know if the applicant is adhering to the recommended treatment plan and taking prescribed medications. Regular visits to the doctor and compliance with treatment guidelines are viewed positively. Blood work results, especially those related to cerebrovascular or cardiovascular health, can also influence the underwriting outcome.

Step 4: Consider Lifestyle Factors

Lifestyle factors, such as smoking, cholesterol levels, and blood pressure, are taken into account. Smoking, for example, doubles the risk of stroke and will result in significantly higher rates. High cholesterol and high blood pressure increase the risk of another TIA or stroke and will be considered in the underwriting process.

Step 5: Analyse Residual Neurological Damage

The presence of any significant, long-term harm caused by the TIA will impact the underwriting decision. Even relatively mild side effects can result in higher premiums. Recurrent or multiple TIAs will generally lead to substandard health classifications and higher rates.

Step 6: Obtain Medical Reports

In most cases, a medical report from the applicant's GP or specialist is required. This report provides valuable information about the applicant's health status and helps insurers make an informed decision. The insurer typically arranges and pays for this report.

Step 7: Finalise Underwriting Decision

Based on the information gathered and analysed during the previous steps, the underwriter will make a decision. This could result in approval, denial, or conditional approval with additional requirements. The applicant's age, time since the TIA, overall health, and lifestyle factors all contribute to the final underwriting outcome.

What to do if your life insurance application is declined

Don't panic! There are several options available to you if your life insurance application is declined. Here are some steps you can take:

Ask for more information

Get in touch with the insurance company or your agent to find out why your application was denied. This could be due to medical or non-medical reasons. For example, a serious medical condition, poor results from a medical exam, bankruptcy, a criminal record, or even a dangerous hobby could be a reason for denial. Understanding the reason for the denial will help you take the next steps.

Appeal the decision

If you believe the insurance company has incorrect or insufficient information, you have the right to appeal their decision. Provide them with up-to-date medical information from your doctor or correct any non-medical reasons, such as an old driving offense or outdated financial records.

Check with your workplace

Your employer may offer a group term life insurance plan that you can sign up for. These plans usually don't require a medical exam and can provide some level of coverage until you can get your own term life insurance. Keep in mind that this coverage is often lower than the recommended amount and may not meet all your needs.

Reach out to a life insurance agent

An independent life insurance agent can be a valuable resource. They understand the underwriting process and can help you navigate any red flags in your application. They can also search for policies across a wider market and suggest alternative options or insurers that may be more suitable for your situation.

Make lifestyle changes

If your application is postponed or denied due to health-related issues, use this time to focus on improving your health. Make healthy lifestyle changes, such as eating a balanced diet, quitting smoking, or exercising regularly. These changes can increase your chances of approval in the future.

Explore alternative life insurance products

If you are deemed high-risk by standard insurance companies, consider alternative insurance products such as final expense life insurance, guaranteed issue life insurance, or AD&D insurance. These options may have lower death benefit payouts and higher prices, but they can provide some level of coverage if traditional insurance is not available to you.

Try another provider

Different insurance companies have varying underwriting criteria, so being denied by one company doesn't mean all others will follow suit. Shop around and consider working with a broker who has access to multiple brands and products. They can help you find a provider that is more flexible and better suited to your specific circumstances.

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