Life Insurance Case Study – Stroke Victim

by | Tuesday 7th Jun 2022 | Mortgage Case Studies

Man unable to get life insurance

Man unable to get life insurance

Key Facts:

  • Long-time client of Oportfolio
  • Has used us to secure mortgages and remortgages on several properties over the years
  • During this early professional relationship with Oportfolio, he had a stroke and a brain haemorrhage out of the blue
  • After treatment and therapy, he regained most of his motor functions and returned to good health
  • Despite having recovered and despite the health issues occurring several years ago, when it came to trying to secure health insurance in case anything like this happened again, he was met with a lot of kickback from most insurance companies

Our Client:

Our client is a family man, now in his late 50s. He has been self-employed for a number of years and has managed to make a good living for himself. He has also been lucky to purchase several properties and mortgage them through Oportfolio as both residential and buy-to-let purchases. However, the biggest financial issue that our client has faced in the past is due to his health.

Before he turned 50, he suffered a quite severe stroke and brain haemorrhage unexpectedly which left him incapacitated for a number of months and returning to his normal life and health proved quite difficult. But, after physical therapy for his mobility and speech, he did manage to regain his health and thankfully has not had any issues since.

Although our client has no problem with securing mortgages on properties, he has had a lot of issues when it comes to getting life insurance because of the health issues he has had, no matter how well he has recovered or how long ago it was. As a stroke is a major health issue (along with things like heart attacks and cancer) a lot of life insurance companies refused to insure our client because they deemed the risk of him getting ill again to be too high. Without any life insurance, our client had no way of knowing that he and his family would be protected if anything like his previous health issues happened again.

What Did We Do To Help:

Our client came to Oportfolio to help with a new home purchase initially which went through with ease however, as part of looking after all aspects of your financial security and encompassing them all, we offered to investigate our client’s life insurance situation. The issues he had been having then came to light and we knew that we had to do something to help him and his family.

Our advisor who helped with securing the client’s mortgage looked at the situation as a hole and made sure that he was completely aware of the entire situation. Everything that had happened in the past, the client’s recovery process, and the medical professional’s opinion of the risk of it happening again. Once our advisor knew as much about our client’s situation as possible, he could then start approaching insurance brokers and, using his knowledge of insurance policies and criteria, pitching our client’s case to them.

After some tireless research, our advisor managed to find an insurance company who were happy to insure our client. Because of the length of time since the stroke and haemorrhage and because of the reduced risk factor of it happening again, the insurance company deemed our client a suitable candidate for insurance.

He and his family now have a reasonably priced and extremely beneficial insurance policy which covers our client’s mortgages if anything should happen to him in the future.

What Is The Policy?

The policy is a Mortgage Term Assurance product.

The policy covers £200,000 over the 25 years of his mortgage term.

The premium is £57.27 a month.

As an extra, the policy offers terminal illness cover of £200,000.00 at no extra cost meaning should he develop a terminal illness like cancer, this will also be covered.

Everyone knows they need insurance, even if they don’t quite understand how it works. Let us at Oportfolio be your helping hand when it comes to finding the best policy. Give our friendly and helpful team a call today.

We're Here to Help

If you have any questions about UK mortgage news or or anything you’ve read then please get in touch. We’d love to hear from you.

As featured in

Understanding a Volatile Mortgage Market eBook

Download Our eBook

Join our mailing list and receive a link to our latest ebook, Understanding a Volatile Mortgage Market. 23 pages of practical insights to navigate the unpredictable mortgage landscape.

You Will Receive A Link To Your eBook Shortly!