If you or your loved one is living with a chronic condition or disability, you may feel somewhat apprehensive about the topic of insurance. However, the purchase of final expense insurance doesn’t have to be stressful or anxiety-producing. In some cases it may even be possible to purchase the burial insurance you wish without ever discussing your limitations or abilities, and no medical exam is required. If you don’t require help with activities of daily living, most insurance companies won’t even ask about your condition or disability. Even if you do require assistance, there is still an affordable, comparable option for you.
Let’s take a quick look at a few common scenarios and the solutions that USA Life can provide.
Arthritis, Accident, Chronic Pain:
Arthritis is the most common disability that can cause an individual to need assistance. This disability is usually a non-issue for insurance companies, but in a case where arthritis causes you or your loved one to need assistance with eating, bathing, dressing, toileting, transferring, or continence, your best policy option may be a guaranteed issue burial insurance.
Guaranteed issue burial insurance involves a two year waiting period during which time the full death benefit is paid only in cases of accidental death. However, in the case of death by illness during that waiting period, all premiums plus 10% interest will be paid to the beneficiary. After the two year waiting period is complete, the full death benefit is paid, regardless of the cause of death.
An injury or chronic pain condition that may result from an accident at home, at work, or anywhere is considered a disability if it affects your ability to work. If the injury or chronic pain doesn’t affect your mobility, your best option is a level death benefit plan with first-day coverage. If your disability requires you to take pain medications, an insurer may look into the types of medication you’ve been prescribed. Most medications will not affect your eligibility, however if you are taking Hydrocodone, Vicodin, Tramadol, or Percocet, you may be required to pay a higher premium due to the possible side effects of these narcotics.
A level death benefit plan with first day coverage guarantees a specific benefit paid on the death of the covered individual, regardless of when that death occurs. From day one, your low monthly premiums are fixed and you have the certainty of knowing exactly what the returns on the investment will be.
Diabetes, Heart Disease, Mental Illness
These chronic conditions are also rarely an issue for final expense insurance. Even complications like neuropathy, retinopathy, or nephropathy in diabetics most likely will not affect your eligibility. Mental health conditions such as depression, anxiety, bipolar disorder, schizophrenia, or post-traumatic stress disorder that affect your ability to work and are considered a disability are also all still able to be covered by an appropriate policy. Nearly all heart conditions are covered if the diagnosis and treatment was a minimum of two years ago. Although congestive heart failure and some others may present a challenge, USA Life will find a plan that is affordable and meets your individual needs. A level death benefit plan with first day coverage is the best option for the majority of these chronic conditions
Your Best Option for End-of-Life Peace of Mind
Don’t let previous negative experiences keep you from benefiting from the security and peace of mind that final expense insurance coverage can provide to you and your loved ones. Even if you have been denied coverage by insurers in the past, USA Life is committed to finding the right coverage for you. From the comfort and privacy of your own home, you can apply for a no-obligation quote, or contact us to speak directly to a representative. USA Life is your best option for personalized and compassionate end-of-life financial care.