If you are wondering if you can burial insurance if you have a heart stent the answer is yes. Now if the stent was placed within 1 year you will have to get a final expense policy with a waiting period. If the stent was placed within 1-2 years you can get funeral insurance with no waiting period. Final expense life insurance for stent only requires that you answer health questions on their application.
There are no medical exams required just medical & prescription history checks.
According to www.usatoday.com
Stents are placed in about 1 million Americans a year.
In this article, We will list your options, features and how much coverage you may need.
Table of contents
Burial Insurance & Heart Stent Your Options Simplified
We are going to make it as simple as possible for you to understand your options regarding what funeral insurance you qualify for with heart stent. The list below should give you a simple idea of what will be best for you.
- Under 1 Year – Graded Benefits(waiting period) Only
- 1-2 Years Ago & Over – Level Benefits(no waiting period)
Can You Get Life Insurance if You Have a Stent?
Yes, you can get final expense whole life insurance if you have a stent. Depending on the time frame of when you were diagnosed you can qualify for a final expense life insurance policy without a waiting period.
If the stent was recent within the last year you will only be able to get life insurance if you have a stent with a waiting period. Timing is what matters here the longer it has been since your diagnosis the better your options are for getting whole-life insurance if you have a stent.
These are simplified issue life insurance policies which mean’s there is no medical exam required. You simply answer the health questions on the life insurance companies application when you are applying for whole life insurance if you have a stent then they look at your medical and prescription history.
If everything checks out they will approve you for final expense life insurance if you have a stent.
Burial Insurance Heart Stent No Medical Exam
First and foremost, burial insurance companies do not require a medical exam to be approved for their coverage.
Companies that Require A Medical Exam
Other companies will send a medical professional to your home and perform a blood test and other medical examinations. They will record the data and send it to the insurance carrier, at that point you will be waiting weeks to hear back about an approval if you are even approved.
They will also have extra forms that require your signature that allow them to search through your medical records from years in the past. They cannot look into your medical history for the underwriting purpose without prior written authorization.
This makes the application process with traditional life insurance companies a very long uncertain process.
Burial Insurance Companies with No Medical Exam
With these companies, there is no medical examination required. They use easy underwriting to determine your eligibility.
They will ask you the health questions on their application and perform a prescription check as well as Medical Information Bureau Health Report. When they perform these checks they are looking at how long ago your stent was put in and how you have managed your condition along with the medications.
They will do a 1 – 2 year look back and if you have managed your condition well with minimal medications and no recent surgeries you would qualify for day one level death benefit.
This means the benefits would be distributed in any manner for any purpose to your beneficiary if you passed away.
Best Burial Insurance Coverage Option
Stent Implant over 2 Years Ago
If your stent implant was over 2 years ago then you will qualify for the best coverage and rates available. You would be eligible for a level death benefit first-day coverage plan.
Stent Implant over 1 Year Ago
If your stent implant was over a year ago then you will qualify for a level death benefit first-day coverage plan.
Stent Implant Recent Surgery within a Year
If you have had a recent stent implant surgery within a year this would be considered a circulatory surgery. This would make you only eligible for a guaranteed issue policy with no health questions and no medical exam.
Example Application Question:
In the past 2 years, has the Proposed Insured been diagnosed or received treatment from a member of the medical profession, or other practitioner, or been hospitalized for any of the following:
heart attack, angina(chest pain), congestive heart failure, cardiomyopathy stroke, transient ischemic attack (TIA), or received a pacemaker or stent?
That is an example of questions carriers will ask. Some carriers may not ask about a stent implant at all meaning they will accept this condition.
Best Burial Insurance Features
A true burial insurance policy is Whole Life Final Expense Insurance. The term “burial insurance” is a marketing name.
A true whole life burial policy should have the following features:
A Rate Lock – This is a locked-in monthly premium payment that never increases over time. There are many gimmick policies out there that have a premium that will increase over time until the policy becomes unaffordable.
We help clients on a daily basis get rid of policies like that and help them get into policies with a rate lock.
Non-Decreasing Death Benefit – This feature makes sure the death benefit never decreases over time. We have helped clients with policies they had for years that went from face amounts of $40,000 to $5,000!
Tax-Free Death Benefit – This feature guarantees that your beneficiary whether it is your son, daughter, spouse, brother, sister, grandfather, grandmother, niece, nephew, cousin, or any other family member that you name as the beneficiary on your policy receives the death benefit to take care of your final expenses without being taxed on the money.
They will not receive a tax bill at the end of the year for taking care of your final wishes.
Here at ParamountQuote policies with these 3 features are what we specialize in.
This is why we highly advise our clients against purchasing insurance from TV advertisements.
You will find these gimmicks in policies advertised on TV.
You can spot them through the slogans they typically use. These slogans are very misleading in many ways.
Typical Slogans you will see:
“No Health Questions Asked!”
“3 Simple Health Questions and Everyone is Approved!”
If a commercial advertises “no health questions asked!” That is because it is a guaranteed issue policy with a 2 or 3 – year waiting period for benefits.
This may sound good on a commercial but the truth is it does not serve you the client and your better interests if you qualify for a level day one coverage policy.
That is just one of the many gimmicks associated with mass TV marketing.
We want you to be aware of this to help you make the right informed decision to protect your family from any financial burden with the right policy for you and your unique health situation and needs.
How Much Burial Insurance with Heart Stent Do I Need?
Figuring out how much burial insurance with a heart stent you need is dependent on what state and type of service you want to have.
Since burial costs vary from state to state we will stick with national averages.
A burial service can cost between $8,000 – $12,000 on average. Inflation also needs to be factored in, this would make the total cost of burial services in the ballpark of $18,000 or more in the coming years. The easiest way to figure out exactly how much coverage you need is to get a price list from your local funeral home.
Once you have an accurate breakdown of costs factor in inflation and that will be how much coverage you need to purchase.
Cremation can be a much more affordable alternative but still ranges between $3,000 to $5,000 on average. This still leaves your family with a big financial burden and factoring in inflation can be upwards of $9,000 in the coming years.
You can obtain an accurate price list from your local funeral home and add in inflation to come up with your total cost and how much coverage you need.
Other final expenses to factor into how much coverage you need would be any outstanding debts such as medical bills, car payments, credit card payments, living expenses, unpaid mortgage balance, and any other expenses that will fall on to your family when you pass away.
This is about achieving your financial vision for your family after your passing. Their financial stability and peace of mind is the final gift you can leave for them.
How to Apply For Burial Insurance?
Getting started with burial insurance with a heart stent is a very simple process and only takes 30 minutes or less to apply.
The first is to fill out the form to your right. You will see different carriers and pricing, at that point one of our licensed agents will contact you via phone call.
They will confirm the basic information you filled in and proceed to field underwrite your current health history. Once they place you will the proper carrier and confirm the coverage you are purchasing they will begin the enrollment process.
There are 2 different ways to enroll:
Voice Signature – The agent, you, and the insurance company will be on a 3 – way call. At that point you will apply your voice signature to the necessary forms and complete enrollment.
E-mail Signature – The agent will send you an email with a DocuSign link. You will follow the prompts and complete the e-signature process.
Once the signature process is complete the carrier will reach an instant decision of approval or denial.
It is a quick and simple process fill out the form to your right to get started.