Final Expense Insurance After A TIA: The 4 Best Companies

Final Expense Insurance After a TIA
Final Expense Insurance After A TIA: The 4 Best Companies

After experiencing a transient ischemic attack, also known as TIA, there are a lot of uncertainties and changes that your doctor will ask you to make.

These uncertainties and changes may cause you to question other things that your doctor does not mention.

One thing that will be affected is your ability to qualify for life insurance.

Final Expense Insurance after a TIA

It is possible to get at an affordable rate after experiencing a transient ischemic attack.

One of the main things that most companies are going to be looking for is the timeline of your health history. So, how long has it been since your transient ischemic attack?

Transient Ischemic Attack book

What is Final Expense Insurance?

Perhaps you are wondering what this coverage is all about?

Well, Final Expense coverage is a type of Whole Life Insurance that is intended to cover end-of-life costs.

This protection does not expire and lasts for your entire life. Which is very important when finding a plan to cover these inevitable costs.

Who will these expenses fall to if you are not prepared with a plan?

The Basics of Final Expense

  • No Expiration
  • Coverage Lock
  • Price Lock
  • Builds Cash Value
  • No Medical Exam
  • No Waiting Period Options

These are all very common benefits for this type of policy. Some companies have additional benefits that are either built into the plans or can be added on for a small additional monthly cost.

Final Expense coverage can be taken out in addition to an existing policy, essentially supplementing what you may currently have.

Why Does a TIA Matter For Coverage?

brain scan report

Your overall health and recent health history matters to the companies that will be covering your life.

A transient ischemic attack or “warning stroke” matters because of the risk of complications and high risk of a second full-blown stroke.

According to Mayo Clinic, 1 in 3 transient ischemic attack victims will go on to have a stroke at some point.

As frightening as this statistic is, there are things you can do to help prevent this from becoming your fate. Make sure to work out a game plan with your doctor.

You can still get coverage!

4 Ways The Carrier Reacts to TIA

1. No Coverage

Some companies will not accept you if you have ever had a transient ischemic attack.

2. Waiting Period and Higher Prices

Other companies will accept you however they will impose a waiting period, usually 2-years, and require you to pay higher premiums.

3. No Waiting Period and Higher Prices

Some companies will provide immediate coverage with no waiting period but will charge higher premiums.

4. No Waiting Period and Lower Prices

These companies will provide immediate coverage and very economical premiums.

3 Ways They Ask About TIA

On the application for coverage, there are 3 ways in which they will ask about a transient ischemic attack.

“Have you ever experienced a transient ischemic attack?”the number one green circle

This question will basically rule you out if you have ever experienced a transient ischemic attack.

“In the last X years have you experienced a transient ischemic attack?”the number 2 green circle

If your transient ischemic attack was within the last X years that they are asking about, you may not be eligible for the carrier, or may not fit their top-tier plan. The typical “lock back” period is 2-5 years.

They will not ask about it at allthe number 3 green circle

If they do not ask about a condition, it means that it does not matter in order to obtain coverage. These plans usually do not provide immediate coverage.

old person in wheel chair

Best Companies

First of all, it is important to note that the best company for you after a transient ischemic attack could be very different from the best company for someone else with another diagnosis.

Each company has its own criteria for coverage.

Health qualifications for these plans tend to get very “nichey” meaning that one company will accept you with TIA and another will not.

This is one of the reasons it is in your best interest to work with an independent agency that specializes in Final Expense Insurance.

We have listed below the best companies specifically for those with a transient ischemic attack in their health history. If you have neuropathy, are in a wheelchair, or have cancer, for example, the qualifications are vastly different.

Please understand that we are ONLY discussing qualifications as they relate to TIA below.

These companies are in order based upon immediate coverage and lowest price.

Royal Neighbors of AmericaRoyal Neighbors Logo black and white

Coverage with no waiting period is possible with Royal Neighbors of America after a recent transient ischemic attack.

If your diagnosis was a transient ischemic attack and not a stroke, this company is perfect for you!

They offer 2 plans, Level and Graded.

Level offers immediate coverage and the lowest prices.

Graded has a 2-year waiting period and higher prices. During the waiting period the payout structure, should you pass during this time is listed below.

  • Death in year 1 – 30% of death benefits is paid
  • Death in year 2 – 70% of death benefit is paid
  • Death in year 3 or later – 100% of death benefit is paid

Below are the health questions that refer to a stroke for your convenience.

Health questions:

I. During the past 18 months has the Proposed Insured been diagnosed as having a stroke, aneurysm, cardiomyopathy, or circulatory surgery?

If you answer “YES” you are not eligible for coverage.

If you answer “NO” move on to question II

II. During the past 24 months, has the Proposed Insured been diagnosed as having, or been treated for stroke, angina (chest pain), heart attack, or cardiomyopathy?

If you answer “YES” you are eligible for the Graded plan.

If you answer “NO” you are eligible for the Level plan.

Again, immediate coverage is available after a TIA since no questions are asked regarding TIA specifically.

For more information about this company and to see the full list of health questions visit the “blog” section under the main menu.

Quotes:

Male

*$10,000 of Coverage

AgeLevelGraded
45NANA
50$40$58
55$46$65
60$50$69
65$59$86
70$75$117
75$110$169
80$154$233
85$213$322
Female

*$10,000 of Coverage

AgeLevelGraded
45NANA
50$34$46
55$38$51
60$38$52
65$45$63
70$56$84
75$80$123
80$110$173
85$149$233

*Non-Tobacco Rates

Mutual of OmahaMutual Of Omaha Logo

If your transient ischemic attack was over 2 years ago, you are eligible for immediate coverage with the Level plan.

Two of the plans offered by Mutual of Omaha are Level and Graded.

Level has no waiting period and the lowest prices.

Graded has a 2-year waiting period and higher prices. If the insured passes during the waiting period the beneficiary would receive the premiums paid plus 10%.

Health question:

I. In the past 2 years, has the Proposed Insured: (a) received care or treatment for, or (b) been advised by a physician or health care provider to seek treatment for Stroke or Transient Ischemic Attack (TIA)?

If you answer “YES” you are eligible for the Graded plan.

If you answer “NO” you are eligible for the Level plan.

Level coverage from this company is one of the best in the industry, move forward if you qualify.

If you answered “YES” and thus are only eligible for Graded, look into coverage from another company as there are better options out there.

For more information about this company and to see the full list of health questions visit the “blog” section under the main menu.

Quotes:

Male

*$10,000 of Coverage

AgeLevelGraded
45$25$42
50$29$46
55$35$60
60$43$75
65$56$95
70$74$120
75$100$170
80$133$254
85$183NA
Female

*$10,000 of Coverage

AgeLevelGraded
45$23$35
50$25$38
55$28$46
60$33$53
65$41$65
70$53$86
75$72$127
80$98$184
85$136NA

*Non-Tobacco Rates

Foresters FinancialForesters Financial Logo black and white

You are eligible for plans offered by Foresters Financial depending on the length of time since your transient ischemic attack.

If it has been over 2 years you are eligible for their best plan with the lowest prices, Preferred.

If it has been over 1 year you are eligible for immediate coverage with the Standard plan.

The 3 plans offered by Foresters Financial are Preferred, Standard, and Basic.

Preferred is the lowest priced and has no waiting period.

Standard is higher priced and has no waiting period.

Basic is the highest priced and has a 2-year waiting period. During this waiting period if the insured passes away the beneficiary will receive the premiums paid +10% returned to them.

The health questions below were taken directly from the application for coverage.

Health questions:

I. Within the past year (12 months), have you been diagnosed with having a heart attack, stroke, or Transient Ischemic Attack (TIA/mini-stroke)?

If you answer “YES” you are eligible for Basic coverage.

If you answer “NO” move on to question II.

II. Within the past 2 years (24 months), have you been diagnosed with having a heart attack, stroke, or Transient Ischemic Attack (TIA/mini-stroke)?

If “YES” you are eligible for Standard coverage.

If “NO” you are eligible for Preferred coverage.

If it has been over 2 years you are eligible for Preferred. If it has been within 1-2 years you are eligible for Standard. If it was within the last 1 year, you are eligible for Basic.

We do not recommend the Basic plan from this company as there are better options available on the market.

For more information about this company and to see the full list of health questions visit the “blog” section under the main menu.

Quotes:

Male

*$10,000 of Coverage

AgePreferredStandardBasic
45NANANA
50$32$45$47
55$37$59$60
60$45$74$74
65$56$93$95
70$73$112$118
75$103$161$171
80$147$216$259
85$201$308NA
Female

*$10,000 of Coverage

AgePreferredStandardBasic
45NANANA
50$26$37$37
55$31$43$44
60$34$50$52
65$43$65$66
70$53$83$86
75$75$120$132
80$111$167$192
85$166$253NA

*Non-Tobacco Rates

Guarantee Trust Life (GTL)Black and white GTL logo

This carrier will accept you if you have ever had a transient ischemic attack whether it was last week, last year, or last decade.

They do not ask health questions regarding a transient ischemic attack which means that it does not affect your ability to get coverage.

With this very lenient underwriting comes a 2-year waiting period before your beneficiary can receive the full policy amount.

The payout structure during this waiting period is:

  • Death in year 1 – return of premiums +5%
  • Death in year 2 – 50% of full policy amount
  • Death in year 3 or later – 100% of full policy amount

This could be the best plan if your TIA was recent and if you have additional health complications.

For more information about this company read our Guarantee Trust Life review in the “blog” section under the main menu.

Quotes:

Guarantee Trust Life (GTL)

$10,000 of Coverage

AgeMaleFemale
45$46$34
50$51$36
55$55$42
60$67$51
65$80$60
70$101$73
75$139$102
80$232$165
85$301$191

Guaranteed Issue

100 percent guarantee chalkboard

This type of policy accepts 100% of the people who apply. There are zero health questions asked.

Often this policy is advertised on television commercials with the allure or coverage for all with no health questions.

However, it is to your advantage to spend a little more time answering health questions in order to apply for immediate coverage and lower prices.

If you are getting advice to get any sort of guaranteed acceptance plan after your TIA, please walk away and get a second opinion!

In some very unique situations, it may be necessary to get a guaranteed acceptance plan. This would typically arise if someone has multiple serious health complications.

There are several great companies that offer these plans. AIG and Gerber both offer these plans and beat the companies that over advertise every time! Yes, I’m talking about Colonial Penn, John Hancock, and AARP over-advertising.

Below are quotes from AIG & Gerber compared to the pricing offered by John Hancock and AARP. As you can see, these companies are not always the most economical for literally the SAME EXACT THING.

Quotes:

Male

$10,000 of Coverage

AgeAIGGerberAARP (NY Life)John Hancock
45NANANANA
50$52$44$33NA
55$55$58$64$73
60$63$64$75$82
65$84$85$85$105
70$98$99$101$135
75$139$140$115$175
80$246$247$135$232
85NANANANA
Female

$10,000 of Coverage

AgeAIGGerberAARP (NYLife)John Hancock
45NANANANA
50$36$34$43NA
55$43$44$50$50
60$50$51$57$59
65$62$63$69$74
70$75$76$83$95
75$107$108$96$129
80$175$176$107$180
85NANANANA

Captive VS Independent

A captive agency can only offer plans from one specific company. This is more like an insurance franchise where an agent can buy into the company to use its name and marketing campaigns. State Farm is an example of a captive agency.

Independent agencies are able to offer plans from multiple companies and this is not handcuffed to just a few plan options. This allows the agency to shop around in a much larger portfolio on your behalf to find you a tailored plan at the lowest rate.

Willamette Life is an independent agency that specializes solely in Final Expense Insurance.

man and woman running

Why Willamette Life?

Willamette Life focuses only on Final Expense Insurance. This allows us to put all of our energy into knowing the ins and outs of each plan and each carrier.

Whether you have had a transient ischemic attack, stroke, or any other health condition that could throw up a “red flag” we are confident that we can help you get the coverage you want and need.

Final Thoughts:

a. Final Expense Insurance after a TIA with immediate coverage is possible. Royal Neighbors is your best option if your TIA was recent.

b. If your transient ischemic attack was over 2 years ago, Mutual of Omaha will be the least expensive option.

c. It is imperative that you work with an independent agency to find the best and most affordable coverage given your specific individual situation.

Give us a call at 844-576-0019

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