Final Expense Life Insurance For People With Pre-Existing Conditions

FINAL EXPENSE INSURANCE OFFERS SIMPLE PLAN OPTIONS

Final expense life insurance gives older adults simple coverage with easy approvals.

You may occasionally see people use different names for this type of whole life insurance coverage such as: burial insurance, cremation insurance, funeral insurance, and final expense insurance.

These are just different names for the same thing. A small whole life insurance policy that provides an immediate 1st-day coverage death benefit to protect your loved ones financially when you pass away.

You can pick a monthly payment that fits your budget, and your coverage will stay the same for life. The premiums never climb, the benefit never drops, and the policy never expires because you get older.

Most companies offer somewhere between $2,500 – $25,000. A few companies go up to $50,000, but these larger coverage plans can get a bit expensive for people on fixed incomes who have put off getting this coverage for too long…especially if they now have significant health problems.

Be sure to scroll down to the bottom of this article to view almost 300 individual A to Z health issues with likely policy type decisions.

FINAL EXPENSE INSURANCE OFFERS POLICIES WITH OR WITHOUT HEALTH QUESTIONS

Final expense coverage comes in two types.

The better option asks some health questions and, if approved, your coverage from the 1st-day. This is what I recommend because you get the lowest price, the most coverage, and 1st-day coverage.

Phased-in coverage is also an option for some people we help.

If you don’t want to answer any health questions, you’ll have to accept guaranteed issue whole life insurance with a mandatory 2-year waiting period. Just understand that most of the people I help at the Final Expense guy qualify for 1st-day coverage or benefits from us.

We make sure you know exactly what you qualify for before you apply, so you don’t waste your time or get stuck with the wrong plan.

FIRST DAY COVERAGE PLANS WITH HEALTH QUESTIONS ARE THE BEST CHOICE

When a company asks health questions, they’re offering what the industry calls simplified issue whole life. You don’t need a medical exam. You only answer the questions on the application, and the insurer checks your prescription history in the background to confirm everything lines up.

If you’re approved, you’re covered the moment the policy goes active. Natural death and accidental death both pay the full amount right away. If something happened next week, the payout still goes to your family without delay.

These plans cost less because the company can rule out any major health issues, such as late-stage cancer, terminal diagnoses, or mental or cognitive disorders.

The healthier you are, the easier it is to land first-day coverage at the lowest available rates, so your best time to check out these plans is always sooner rather than later.

AVOID GUARANTEED ISSUE PLANS WITH NO HEALTH QUESTIONS + 2-YEAR WAIT

These are the plans you want to avoid if at all possible. Guaranteed issue plans skip all health and medical questions. If you can pay the premium and meet the age requirements, you can get approved.

The WORST thing about these plans is that every guaranteed issue or guaranteed acceptance plan in the United States has a MANDATORY two-year waiting period.

There are no exceptions.

If you die from any natural cause or medical reason in the first 24 months, the company only has to refund the premiums your family paid in (plus a small amount of interest). Accidental death still pays the full amount right away.

These plans have higher rates because the insurance company is taking a huge risk in offering life insurance to someone they know absolutely nothing about. A higher risk always means you will have to pay a higher price.

Guaranteed issue should be considered only if your health is stable enough to sustain you for the next two years. It should never be your first choice, so it’s wise to check with the Final Expense Guy before accepting any policy.

GUARANTEED ACCEPTANCE PLANS NEVER OFFER FIRST DAY COVERAGE

No. There is not even one company that offers guaranteed acceptance with no waiting period.

Some websites claim you can get guaranteed approval with instant coverage, but that’s just to get you to call, and then they try to sell you a plan you should really avoid.

If there were a company that offered a no-questions policy with first-day payout, they would be out of business within months, as people would wait until a few weeks before death to sign up, make one premium payment, and then the insurance company would have to pay out up to $25,000.

You’ll never find a policy like that, because they don’t exist. Just remember that the next time someone tells you you can get guaranteed approval with no waiting period.

HOW TO GET THE LOWEST PRICE ON FINAL EXPENSE COVERAGE WITH HEALTH CONDITIONS

The best final expense life insurance with pre-existing condition is the one that accepts your current health issues, and gives you 1st-day coverage, at a price you can afford.

That’s what I help people with at the Final Expense Guy, and you don’t need perfect health to get first-day coverage.

Many companies accept past cancer, current COPD, past heart attack, or a stroke, and give you 1st-day coverage. Most significant health issues aren’t the problem; it just means I must find the best company for your unique age-related health issues.

This is why working with a broker like the Final Expense Guy matters. We help you understand your best options. You’ll see many examples in the chart below, grouped by health issue and the time since they occurred.

Captive agents and call center agents can’t reliably offer this level of service.

A TO Z MASTER LIST FOR FINAL EXPENSE POLICY SELECTION WITH PRE-EXISTING CONDITIONS

Every health condition either qualifies or disqualifies you for first-day coverage, graded benefits, or 2-year waiting period polices. The final expense life insurance company you select will consider your past and current health, as well as any prescriptions or hospital stays.

Don’t worry, and roughly 95% of the people we help qualify for 1st-day coverage.

Check out my A-to-Z breakdown of major and minor health conditions to see what may be best for your situation. Once you’re done reading, give me a call at 888-862-9456, and I can do some shopping for you to get you the exact company names and rates you qualify for.