Burial Insurance After a Heart Attack
If you are searching for, “burial insurance after heart attack”, it usually means that you kicked the can down the road and you put this off too long.
You might even think that you are unable to purchase a burial insurance policy. As a matter of fact, when you need it the most is when you can get it! As do most pre-existing conditions!
I have some GREAT NEWS!! You can! So the final expense will be taken care of!
In fact, burial insurance is a simplified underwritten policy, (AKA Whole Life insurance after a heart attack).
Unlike term life insurance, a burial insurance plan is usually approved the same day. Again, depending on what type of policy you qualify for will come down to how long it been from your heart attack.
Here are the three types of coverage:
- Level Benefit
- Modified/Graded Benefit
- Guaranteed Issue
We will go over this in this article.
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Can You Purchase Burial Insurance After a Heart Attack
As we mentioned earlier, YES YOU CAN! With SAME DAY APPROVAL!
In the event that you applied for life insurance and got denied, you still will be able to get a burial insurance policy. Now depending on how long its been since the heart attack will determine if there will be a waiting period.
When you are qualifying for life insurance or burial insurance you will be asked some health questions. This is to determine if there are any other health issues. There will be NO MEDICAL EXAM!
This will determine which type of coverage you qualify for.
Then you will have a choice of which burial or life insurance companies that will take the risk then go over the life insurance quote.
How Long Will I Have To Wait For Burial Insurance After a Heart Attack
This is when dealing with the right agent will make all the difference. When getting approved for life insurance or burial insurance and getting the best life insurance rates, it is crucial that you deal with an agent that specializes with burial insurance.
Above all, the knowledge of each carriers specialties is pivotal. Most carriers will want you to wait over 2 years to get a level benefit burial policy. However, what if you just had one.
What if you just had a heart attack and you are being treated?
Then the only policy would be a guaranteed issue where there will be no questions asked. These types of policies come with a 2-year graded period. This means that is you die of an “Illness” the first two years then all premiums will be refunded plus 10%.
However, this policy will cover accidental death from day one. In fact, our go-to carrier for this product also offers living benefits as well. Again, after the 2 years is up then the death benefit will be paid 100%!
Burial Insurance Underwriting After Heart Attack
When it comes to underwriting for burial insurance after a heart attacks its nice to know there will be no medical exams! in addition, no stress tests or medical records will be requested like some term life insurance carriers will demand.
Nope, its a simple prescription check and answers to health questions. Now depending on which carrier you will go to will determine the qualifying questions that will be asked.
Here is a great example of one of our go-to carriers and the qualifying questions they will ask:
Liberty Bankers Life has 3 parts of there application to see which product you may qualify for before rates are shown. We are picking Liberty Bankers Life because they are amongst the top rates for burial insurance and have very liberal underwriting with three qualifying products.
In most cases, a client will be approved at the standard rate! This means active policy from day one!
Here is an example of a 70-year-old male looking for a $10,000 burial policy after a heart attack.
Best Burial Companies After Heart Attack
When picking a burial company for coverage it is just as important the agent you pick as it is the carrier you choose.
Most agents that you talk to either will tell you-you can’t get coverage because of lack of knowledge or offer a guaranteed acceptance policy because they don’t know any better.
Overall, it is the client’s money they are rolling the dice with which is unacceptable as far as I am concerned.
With that said, when it comes to a client purchasing burial insurance after a heart attack it should be more looking at the success of achieving the goal than to be too picky.
So when it comes to heart attack we offer the three top options and make it simple!!
These rates below are for burial insurance for a 70-year-old male.
Let’s start with the worst case scenario, having had a heart attack within the last 12 months. If this is the case then you will be approved with a guaranteed acceptance with a graded period.
Our go-to carrier is AIG. They offer the best GI product as it comes with living benefits and the application is submitted right over the phone in less than 5 minutes.
Now if it has been between one and two years since the heart attack, then we would pick Sentinel Security Life. As they will offer a modified policy with 30% of the death benefit being paid the first 2 years or a return of premium for their graded policy.
They also have a very competitive rate for after 2 years for their level benefit.
***Also, if you have been prescribed Nitroglycerin and its been over 5 years they will consider this as maintenance and not as a treatment. In fact, they will approve the policy as other carriers will decline on the spot.
Best case scenario will be with Liberty Bankers life. If after two years they would be approved at a Standard/Preferred rate. They also have a fantastic voice signature application. This voice signature application will have approved and active within 30 minutes!
That’s right, 30 minutes with no paper!!
Here are the rates of for Preferred, Standard rates and Modified rates.
If you are looking for affordable burial insurance after a heart attack and it has been over two years then I would stick with Liberty Bankers Life.
However, you might want to consider AIG guaranteed issue policy as it is better priced with the above example. But you need to be sure.
Remember, find an experienced burial insurance agent. We here at InsuranceForBurial.com are experts in finding you the right coverage that meets your goals.
Feel free to reach us, 855-380-3300.