Life Insurance following a stroke

Article published on 13th August 2008

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In this article we will start to discuss the symptoms, causes and effects of a stroke, and the impact this can have on Life Insurance.

Stroke is 3rd most common cause of death in the UK affecting an estimated 150,000 people in the UK every year (that?s more than one person every five minutes!) (source: The Stroke Association).

Firstly, make no mistake, a stroke can have a devastating impact on not just the individual, but everyone, families, friends, even work colleagues.

In general terms, there are two main types of stroke, an ?ischaemic? stroke, caused by a blockage in an artery and a ?bleed? stroke which is caused by a burst blood vessel in the brain.

Although there are certain factors that can increase the likelihood of you suffering a stroke, it can just as easily happen to pretty much anyone.

Insurance companies have a responsibility to shareholders and/or their other policyholders, so be in doubt that people who have suffered a stroke can generally expect to pay higher premiums for any new life insurance policies so it pays to ensure life cover is reviewed regularly.

Never, ever attempt to mislead potential insurers by failing to dislose or mislead them about any medical condition that you have had. This will only cause further distress for your spouses/partners or any other potential beneficiaries in the event of your death as insurers could refuse a claim on the grounds of non-disclosure of a material fact that may have affected their original underwriting decision.

This not to say that you are uninsurable if you have suffered a stroke. There are numerous factors that undewriters/actuaries will consider such as age, current health, length of time since you suffered the stroke, so don?t despair, it may still be possible to secure cover for you, albeit at an increased cost.

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