Can you avail Term Insurance if you had a Stroke?

A stroke, commonly known as a heart attack can be a scary wake-up call for people who experience them. Many individuals who suffer a stroke look to buy Term life insurance, in order to provide a financial safety net for their families in case something happens to them. However, insurance companies are quite strict about accepting applications from individuals who have suffered a stroke, as they pose a higher medical risk. Fortunately, the companies also provide affordable Term life insurance then.

Term Insurance meaning

Term insurance is an insurance plan that provides financial coverage to a policyholder’s family in the event of the sudden demise of the policyholders. There are many types of term insurance that a person who has suffered a stroke can choose from. The most appropriate insurance would be a term insurance plan with critical illness cover that can cover the costs of future critical illnesses that the patient might suffer.

Type of strokes and how they affect buying a Term Insurance

There are two main types of strokes that a person can suffer, a mini-stroke or a full stroke.  A mini-stroke, or as it is medically called – a Transient Ischemic Attack (TIA) is a type of stroke which is caused due to a small, temporary blockage of an artery. A mini-stroke does not cause any permanent damage to the patient. A full stroke or as it is medically called Cerebrovascular Accident (CVA) is a serious stroke that could lead to permanent damage to the patient. Insurance companies are comparatively more inclined towards patients who have suffered a ‘mini stroke’ than patients who have suffered a ‘full stroke’.

Questions asked by Insurance Companies

Before allowing applicants who have suffered a stroke to buy term life insurance policies, insurance companies usually conduct a thorough interview of the applicants to determine their eligibility for applying for term life insurance. We have compiled a list of common questions an insurance company representative may ask you if you are looking to buy term life insurance as an individual who has suffered a stroke. These questions also help the insurance agency to determine the rate of monthly/yearly premiums that will be applicable to the particular individual.

  • When did the stroke occur?
  • What was the age of the applicant at the time of the stroke?
  • What was the severity of the stroke that the applicant suffered?
  • Was it diagnosed as a full-stroke or a mini-stroke?
  • Which medical examinations were conducted post the stroke and their results?
  • Does the applicant have any pre-existing conditions such as diabetes, hypertension, etc.?
  • Does the applicant consume tobacco and alcohol? If yes, what is the frequency of consumption?
  • Medical history of the patient and information about any genetic diseases.
  • Other miscellaneous questions.

When to apply to improve your chances of getting Term Life Insurance?

In case you have suffered a stroke in the past, there are many steps you can take to improve your chances of getting a good term life insurance with comparatively lower premium payments. The best time to apply for Term Plan Insurance is around 6 to 7 years after the stroke with no more recurring stroke incidences, which will help you get cheaper premium rates. You can check out the premiums you will have to pay based on the amount of coverage you are looking for in a Term Plan Calculator.

You can also improve your chances to get a good term insurance plan at affordable premiums by developing healthy habits after your stroke, such as exercising, having a nutritional diet, and regular checkups at the doctor. An applicant who has recovered from a stroke and has been living a healthy lifestyle for a few years will have no problems in securing a good term insurance plan with affordable premiums. However, in case you are looking to apply for term life insurance soon after suffering from a stroke, you will have to be prepared to shell out expensive premium payments.

Related Articles

Back to top button