LIFE INSURANCE FOR STROKE, OXYGEN USE, OR DEMENTIA
6/5/2014
These pre-existing conditions are often called "uninsurable". But Outlook Life has life insurance choices for stroke, oxygen use, and dementia.
1. STROKE Life Insurance
It is difficult to qualify for medically underwritten life insurance after having a stroke. However, if it has been several years since you had your stroke, you had no residual effects from it, and the risk of having another stroke seems to have been greatly diminished, there is a possibility of getting a rated policy. It is important to contact us with full details of your health history so that we can shop our 50 companies to find your best rate.
If you do have moderate to severe impairments due to your stroke (e.g. inability to do some ADL’s), there are simplified and guaranteed issue policies you can get. Some make you wait until a year or more after your stroke until you qualify. Some will cover you right after a stroke.
These policies are usually, but not always, “graded”, meaning they have a waiting period of 2-3 years before the policy will pay 100% of the death benefit for death due to natural causes. But if death would occur in the first couple of years, the policy still pays back all you paid in, plus some extra. So it can still be worth it to take your chances on outliving the graded period, at which time the policy will pay the full death benefit.
2. Life Insurance with OXYGEN Use
Using oxygen therapy for emphysema, chronic bronchitis, other forms of COPD (chronic obstructive pulmonary disease), or any lung or respiratory disorder, will usually necessitate getting guaranteed issue life insurance. The policy will be graded during the first 2-3 years, and you will not be able to get large face amounts. However, it is easy to apply for this type of policy, as there is no exam and it goes into effect very quickly.
3. DEMENTIA or Alzheimer’s Life Insurance
The sad effects of dementia and Alzheimer’s put people at risk for accidental death, and eventually lead to physiological decline, as well. Therefore, persons with dementia or Alzheimer’s Disease will generally be restricted to guaranteed issue life insurance. Thankfully, a guardian or power of attorney can apply on their behalf.
Call 866-866-0242 for your free Life Insurance Quote
These quotes will not show up in our quote engine on our website, but if you call or email us, we can find you the lowest price offer. Please include the date of birth, gender, health condition, and state of residence of the person for which you are seeking a quote. Thank you.
