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Final Expense Insurance with HIV or AIDS
You may think that having a pre-existing condition like HIV or AIDS will stop you from getting the coverage you need.
YOU ARE MISTAKEN!
It is astonishing at just how quickly medical technologies can advance. As a prime example, we can look at HIV treatment. Today, there are medication protocols that slow the progress of the virus and can reduce the viral load to such a small level that illness that transmitting it is no longer a risk for some!
Naturally, if HIV goes untreated, it does attack the immune system and can cause everything from cancer to remarkably dangerous levels of infection. However, this is why it used to be difficult for those with an HIV/AIDS diagnosis to get insurance coverage, including burial insurance coverage.
Burial Insurance For HIV patients
Today, things in insurance coverage are changing almost as rapidly as a treatment for conditions as serious as HIV/AIDS, and for anyone concerned about final expense insurance coverage, there are more options than ever.
**HIV or AIDS is on our qualified health impairment list for same-day coverage.
#1 Understand Final Expense Insurance Coverage
Whether you call it burial insurance or final expense coverage, it is the same thing. This is an insurance policy purchased for the sole purpose of paying for your (or a loved one’s) funeral expenses.
If you wonder why anyone would invest in a policy to pay for this typical life event, you might be shocked to learn that average funeral costs somewhere in the area of $7,000 but can easily exceed that by thousands.
This means that paying for the funeral may mean dipping into life insurance, savings, or even dealing with a payment plan that lasts for years afterward.
A burial insurance policy operates like any other sort of lump sum option. It does not get paid out only for specific expenses. Instead, you or a loved one will designate the beneficiary, and they will receive the amount determined at the time the policy is purchased.
They can then use the funds for such funeral-related expenses as:
- Travel to carry out funeral arrangements
- Accommodating funeral guests
- All funeral expenses (casket, mortuary fees, funeral services, transportation, and more)
- Legal costs associated with the estate, and more
The person you designate as the beneficiary is going to receive a lump sum and use it accordingly. They will have to meet the insurance carrier’s requirements. Often that means supplying a death certificate, though more may be requested by the carrier at the time the policy is cashed in.
#2 Know What You Get with Burial Insurance
Keep in mind that a good burial insurance plan may end up with a cash value because it is a whole life policy in which value accumulates as time passes. Let’s say you invest in one at the age of 65 and are still alive and well at the age of 89. That policy probably has a cash value that you can access if you need some money to help with living or medical expenses.
Is this the same as the plans sold through a funeral home? No. That is a pre-paid funeral, and it does not increase in value over time.
Instead, you will contract with the funeral home and pay a set sum well in advance of your need for it, but it is not a plan with living benefits.
Additionally, because some of the top names in insurance provide final expense coverage, there may be a refund component to the plan.
In other words, if you or the loved one covered should pass away within two years of investing in the plan, you may receive your payments towards the policy back, plus an additional percentage.
#3 Choose the Right Provider for Burial Insurance with an HIV/AIDS Diagnosis
So many of our buying decisions are affected by the source from which we make that purchase. As a simple example, you may go to a big box store for a pair of cheap sneakers and end up in search of a new pair before a year has passed.
Go instead to a premium manufacturer’s storefront and you’ll pay more but get a substantially longer period of time out of that investment.
The same rules apply to your burial insurance. In fact, you will want to find a source that helps you get information from the best names in burial insurance. FOr instance, one that steers you only towards those offering coverage to people with high-risk health issues.
After all, HIV/AIDS may be a remarkably treatable condition these days, but it is still deemed a health impairment with a lot of high-risk involved for an insurance provider.
Not all burial insurance companies are willing to provide coverage, or they may ask astronomical sums to extend a plan. There are, however, niche insurance providers glad to work with clients living with some of the most serious health concerns, including those with HIV.
They are not going to demand that you undergo an intense medical screening before they offer a plan. Instead, they are going to review some basic medical questions (mostly with yes or no answers) and then provide you with an array of quotes.
These are going to vary based on your diagnosis, general health, age, and maybe even some factors relating to your medication regimen.
Can I get A Burial Policy If My HIV/AIDS Not Controlled
Above all, if you are not on top of your treatment for HIV/AIDS, there is still an option.
Our carriers offer guaranteed issue final expense insurance plans that deliver the kind of financial protections most want. These policies are called guaranteed issue because you are guaranteed acceptance as long as you supply the information needed.
Are there pros and cons to them? Yes, just as any insurance plan will have its drawbacks, so too will final expense insurance for someone with HIV/AIDS. For one thing, it is a bit pricier than standard coverage. Furthermore, most have a two year period in which you get a refund of premiums plus interest should you pass away in that window of time.
After that, coverage is at the face value of the plan. Of course, you may also find no-wait options.
However, if you are eager to find out what it might cost to provide your loved ones contact an independent burial agent. Also, if it is for yourself and you are taking care of a parent’s needs it’s extremely important.
Above all, to make sure you have adequate funeral funds. It is importnat to get in touch with InsuranceForBurial.com.
They can provide clients with instant quotes for burial insurance for people with chronic or high-risk health issues, including HIV/AIDS.