Term life insurance coming to an end
My husband is 58 and has had multiple strokes in the past. He had a flap in his brain that was opening and closing which caused the strokes. His blood pressure and cholesterol are excellent. The doctor put in a stent to keep the flap open and now he is fine. He is on meds and is doing very well. As long as he stays on his meds, does not seem like he will have another stroke.
His insurance agent just told him his term life insurance will expire in 3 years and will not likely be renewed because of his health. Even if it is renewed, the premiums will skyrocket.
My question - even though he had several strokes, is that considered a "current" illness? To me, the strokes are in the past and he is doing well and I wouldn't consider him currently sick. His agent said he'll check on this but I was wondering if anyone had any advice. We really need his life insurance as if he dies, I will be left will lots of debt and we were counting on his life insurance. He feels awful that his family will not be taken care of.
Any advice on getting new insurance for someone who has had strokes in the past?