What happens to my life insurance after a stroke?

Monday, March 22, 2010

Having a stroke makes a huge impact on those that suffer the condition, as well as those that are caring for the patient. It is one of the major causes of death in the UK and affects approximately 150,000 people in the country every year, which scarily equates to more than one person suffering a stroke every five minutes.

Not only does this have devastating effects on the individual but also their families and even their colleagues.

Strokes tend to come in two types. Firstly, there are ischaemic strokes that are caused by blockages in the arteries. Secondly, there are bleeds that are caused by the bursting of a blood vessel in the brain. The worrying characteristic of strokes is that they can happen to anybody, although certain conditions can make some people more prone to them.

Those who have suffered strokes will often be charged a higher premium than those who haven’t and the premium increase is down to the responsibility of the life insurance provider to their other policy holders, as well as their shareholders. It is, therefore, vital that your life insurance policy is regularly reviewed. Even more importantly, it is essential that you fully disclose any medical condition that you have suffered. Failure to do so will result in an invalid policy, resulting in extreme anxiety for your dependents and/or beneficiaries.

It is important to note however, that even if you have suffered a stroke, you are still able to apply for life insurance. There are a sizable number of insurance providers that take into account your current health, age and the time period since you suffered a stroke. There may be an increase in premium costs but you can still have the peace of mind that your life insurance will fully cover you and your loved ones.


Liz Hadley