Life Insurance After a Stroke

You might not think life insurance after a stroke was possible, but it is.

Several highly-rated insurance carriers offer life insurance for stroke victims at affordable rates. And our independent insurance agency is here to help you find your best option.

As long as you’re between ages 50 and 85, you cannot be turned down due to your health. Your acceptance is guaranteed.

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Why Stroke Survivors Need Life Insurance 

Suffering a stroke is an attack on your brain. During a stroke, both blood flow and oxygen get cut off from parts of the brain, and cells begin to die. During that time, whatever function those cells are responsible for is lost. Sometimes temporarily and others permanent.  

Startling Stroke Statistics:  

The vast majority of strokes happen to people over age 65. And the risk for stroke doubles every decade over age 55. The Center for Disease Control and Prevention states:

  • Stroke is the leading cause of adult disability in the U.S.
  • Stroke is the 5th leading cause of death in the U.S.
  •  25% – 35% of stroke victims will suffer a second stroke during their lifetime.

Life Expectancy for Stroke Survivors  

Here are the survival rates for stroke victims at the three, five, and seven-year mark.

  • 63.6 percent of patients died within three years
  • 72.1 percent of patients died within five years
  • 76.5 percent of patients died within seven years  

We show you these statistics to highlight the grim reality of surviving a stroke. Mainly that it severely impacts your life expectancy. 

Financial Impact Of A Stroke 

Suffering a stroke does more than just damage to your body. It also will bring a significant financial burden. 

The American Heart Association states that: the average hospital stay for stroke patients is between four days (ischemic) and seven days (hemorrhagic).

Even a short hospital stay will likely cost between $5,000 and $10,000. Further costs accumulate depending on the level of rehabilitation required, prescription drugs, and therapy needed. 

How Life Insurance Can Help

Life insurance provides the funds you need to protect your family from financial uncertainty. 

Senior life insurance funds help to reduce or eliminate end-of-life expenses, such as funeral and burial costs. However, funds can also pay off medical debt, credit card debt, or even reimburse a family member who gave unpaid.

Life insurance funds provide a financial safety net around those you love most. 

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Life Insurance Options For Stroke Victims 

Depending on the severity of your stoke, you may have multiple coverage options. 

  • How long ago was your stroke?
  • Do you have any complications?
  • Do you have other health conditions?

Your answers to these questions will determine which policy you’re eligible for. 

Final Expense Life Insurance – if your stoke was mild and it’s been at least two years since your event, it’s possible to qualify for final expense life insurance. There are no medical exams; however, there are several health questions. Those who are eligible will have access to the following benefits:

Benefits of Final Expense Plans:

  • Permanent whole life coverage
  • Low premiums 
  • Up to $50,000 in cash for your family
  • Free additional chronic and critical health protection (living benefits)
  • Day 1 coverage of full death benefit (no waiting period) 

If you fail to qualify for final expense life insurance, you still have options. 

Guaranteed Acceptance Life Insurance – If your stoke was within the last two years, or you suffer from severe symptoms, then guaranteed acceptance life insurance is your only coverage option. There are no medical exams or any health questions. As long as you’re between ages 50 and 85, your acceptance is guaranteed. If you enroll in one of these plans, you’ll receive the following benefits:  

Benefits of Guaranteed Acceptance Plans: 

  • Permanent whole life coverage
  • Rates are locked in and will never increase
  • Up to $30,000 in coverage
  • No health qualifying criteria
  • Super simple applications

Both these policy types give you options if your seeking life insurance with pre-existing medical conditions.

Life Insurance Rates After Having A Stroke 

Individuals seeking life insurance with pre-existing medical conditions will have higher rates than healthy individuals. However, that does not mean coverage is not affordable. 

Several factors determine the cost of your policy. Your age, health, gender, state of residence, insurance provider, and policy size all affect your premium rate. 

How much life insurance do I need?  The size of your policy is the single most significant factor in determining your premium cost. Larger policies cost more. And lower policies cost less. Pretty simple. Our helpful agents will help you get the right amount of coverage, so you don’t pay a penny more than you need. 

Finding Your Best Policy

If you’re seeking life insurance after a stroke, let us help. Individuals who go about the shopping process alone often overpay for their coverage, or worse, end up completely uninsured. 

Our independent agency specializes in helping the health impaired secure life insurance funds for their family. We’ll help you shop and compare life insurance companies across the country to find your best policy and premium rate.

While there is no single best insurance company, we believe that these three carriers offer the best life insurance policies for stroke victims in 2020. 

We highly suggest getting quotes from these carriers before making a purchase. And our agency is here to help you do just that.

True to our name, we make the shopping process simple. Shop, compare, and enroll in your best option in less than 15 minutes.

Explore your options today. Get started by claiming your free quote.

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