Traditional Underwriting Policies
Eligibility After TIA:
- Full Recovery Required: Insurers typically require complete recovery from a TIA.
- Waiting Period: A minimum of 6 months post-TIA is often necessary.
- Cognitive Function: No cognitive impairments should be present.
Final Expense Plan
Alternative to Traditional Policies:
- Premiums and Rating: Starts at Table 4 rating; higher than standard rates.
- Benefits: These plans usually offer limited benefits compared to traditional life insurance.
Sub Standard Market for Business Owners
For Entrepreneurs with TIA:
- Special Consideration: Some sub-standard markets may insure business owners with TIAs.
- Exclusion Clause: Policies might exclude coverage for stroke-related claims.
Guarantee Issue Plan
Last Resort Option:
- No Medical Underwriting: These plans do not require medical exams or health questions.
- Higher Premiums and Limited Benefits: Costs are higher, and benefits are generally more limited.
|Full recovery, 6-month wait, no cognitive impairments
|Final Expense Plan
|If traditional policies unavailable
|Higher than standard (Table 4)
|Sub Standard (Business Owners)
|Business owners with TIA, stroke exclusion
|Excludes stroke-related claims
|No health questions
|Limited benefits, easy issuance
Understanding your options for life insurance following a TIA is crucial. Traditional policies are available under certain conditions, while final expense plans, sub-standard options for business owners, and guaranteed issue plans provide alternatives with varying premiums and coverage limitations. This guide offers a comprehensive overview to assist in making an informed decision. Contact us today for a free quote.
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