Here’s the good news no matter what your health problem is you cannot be denied burial insurance with pre existing conditions. Now burial insurance is final expense life insurance, it is primarily aimed at seniors ages 60,70, and 80. Often times we will also speak with children looking for coverage for their parents.
All our clients typically have the same question if they or their loved ones will pass the health questionnaire and qualify for coverage without having to pay higher premiums or be denied coverage.
This is where our highly trained life insurance agents come in. We help 90% of our clients qualify for day one coverage and if they do not we will let them know and assist with finding the best guaranteed acceptance policy on the market.
In this article, we will cover the most important information you need to know about burial insurance with pre existing conditions as well as policies with a 2 year waiting period and no waiting periods.
There are 2 different Final Expense Insurance Options
When it comes to working with the right life insurance company for the right life insurance coverage there are 2 different plans. A plan that is immediate day one coverage which usually has simplified underwriting and a plan that has no health questions or underwriting for health issues at all.
The first is a no waiting period life insurance policy and the second is a guaranteed issue life insurance policy.
These types of life insurance are used for funeral insurance, burial insurance, cremation insurance etc. They are designed to protect your loved ones from the financial burden of paying for your funeral.
No Waiting Period Day One Coverage
This is what we call level day one coverage which means if you got approved during the application process with the insurance carrier like Mutual of Omaha for example, then if you died the day after your first premium payment your beneficiary will receive a check for the death benefit of the policy in full.
All of our carriers offer the following:
- Premiums Never Increase
- Simplified Underwriting
- Death Benefit Never Decreases
- Over 100 years in Business
The best part is when it comes to most health conditions if you have been without complications for more than 24 months then you have a very strong chance at being approved for day one coverage. Depending on the application questions some conditions can still be covered if it has only been 12 months without incident.
It depends on which carrier our agents will recommend for you when they ask you their specific health questions.
Guaranteed Issue Coverage with No Health Questions
There are certain health conditions that will disqualify someone from day one coverage. If you are looking for life insurance with pre existing conditions like current cancer or HIV your only option is a guaranteed issue policy. This is coverage with no health questions or medical underwriting.
This is usually a last resort for our agents if your health conditions are just too severe for us to find day one coverage. A guaranteed issue policy has a 2 year waiting period but after the 2 years the benefit will be paid in full if you die. Now there are living benefits with some of our carriers that you can use to pay medical bills if you become terminally ill.
In addition to this if you were to die from an accident the full amount of your guaranteed acceptance policy will be paid because it was not natural causes.
Guaranteed Issue Coverage Always has a Waiting Period
It is important to note that there is no such thing as a guaranteed acceptance policy without a waiting period. We see gimmicks all the time like Colonial, Globe, AARP, and much more that make it sound like there is but there isn’t.
Again GI policies are a last resort for our clients if your health conditions are just too severe but that is something you can speak with our agents about.
Burial Insurance Cost’s
Here is some average pricing on burial insurance according to age.
|ParamountQuote Example Quotes Ages 50-85|
|Age||Male $10,000 Coverage Monthly Rate||Female $10,000 Coverage Monthly Rate|
To see accurate quotes for your specific age fill out the form to your right.
Burial Insurance & Different Health Conditions List
Below you will find links to health conditions we have covered and whether or not you can get coverage without a waiting period for them.
Hodgkins, Sickle Cell, Liver Failure, Heart Murmur, Afib, Pacemaker, Heart Stent, Aneurysm, Angina, CHF, Heart Attack, COPD