What You Need To Know About Burial Insurance With Chronic Bronchitis In 2024
Written by Daniel Ray, Life Insurance Expert |
✅
Fact Checked by
Lisamarie Monaco |
Editorial Disclosure
Burial insurance for chronic bronchitis or COPD is a crucial consideration that deserves thoughtful planning and understanding.
These conditions may require unique considerations when purchasing burial insurance, particularly given the presence of pre-existing conditions like asthma or diabetes that some policies may not cover.
This article aims to guide you through the process of obtaining the right coverage, providing answers to your queries along the way.
We strive to equip you with valuable information that simplifies your decision-making process.
For more comprehensive insights on selecting the most suitable funeral plan, don’t miss out on our blog post titled “Funeral Insurance: What You Need To Know”!
It’s packed with essential tips and advice. We sincerely hope you find these resources beneficial!
Table of Contents
Why Chronic Bronchitis Seniors Need to Consider Burial Insurance
If you’re a senior living with chronic bronchitis, you’re already aware of the potential health challenges this condition presents.
You also know that it’s a lifelong ailment, one that demands regular medical attention and care.
While dealing with chronic bronchitis, the last thing you want to worry about is burdening your loved ones with funeral costs.
This is where burial insurance comes into play.
With the right burial insurance policy, you can ensure these expenses are covered, and your family can focus on healing and remembrance, rather than on financial concerns.
Chronic Bronchitis And Final Expense Insurance Companies
What is the best life insurance policy for pre-existing conditions?
Like all final expense or burial insurance providers, insurers strive to gain a comprehensive understanding of your health profile.
To achieve this, they’ll inquire about your past and current illnesses, as well as your lifestyle and living conditions.
Additionally, they’ll evaluate your medical history, focusing on any prescribed medications you may have taken.”
Almost all insurance companies will directly ask about COPD or generally ask if you have chronic lung disease to which you should answer “yes”.
Given that chronic bronchitis has no cure and can lead to other types of chronic lung diseases, most burial or final expense insurance companies will have strict rules and guidelines for assessing an applicant with COPD.
Starting from when you were diagnosed with chronic bronchitis, other insurance companies will take a closer look at the frequency of your bronchitis and its severity. Depending on the insurer, they will have different combinations of penalties to compensate for the rate of your risk.
Other companies simply do not have any insurance policy that can take on the risk of chronic bronchitis that they will just flat out reject your application.
There are a lot of final expense insurance companies out there that don’t want to do anything with chronic bronchitis or any COPD- in any case, that’s why getting in touch with a highly experienced insurance agent is essential.
Chronic Bronchitis In The Underwriting Process Of Final Expense Insurance Companies
Bear in mind, each final expense insurance company has its unique approach to inquiring about your health during the underwriting process.
Secondly, these companies will each adhere to their own set of rules and guidelines.
Lastly, these regulations will play a significant role in determining the quality of insurance policies offered, based on your overall health condition.
Chronic lung disease will definitely come up in the underwriting process or be specific and mention COPD.
Other insurers may refer to it as chronic respiratory disease, chronic lower respiratory disease on which you have to answer yes.
Some insurers would just want to know if you have COPD, what type, when you were diagnosed, what medications were prescribed, tobacco use and your lifestyle, etc.
Underwriting Health Questions For Final Expense Life Insurance
In the underwriting process, insurance companies will ask about the following:
- Questions about your chronic bronchitis, lifestyle and ask if you have other illnesses.
- Prescribed medication history
Burial or final expense insurers will directly ask about COPD like chronic bronchitis, simply because it is one of the leading chronic diseases that cause death in the country and it has no cure.
Furthermore, some burial or final expense insurance companies will inquire about the stage of your COPD. This information can significantly influence the quality of insurance plans they offer you.”
Also, with some insurers, if you are in the severe stages of your chronic bronchitis COPD, they will directly reject your application day one coverage.
Lastly, insurance companies will also look at other health factors such as pancreatitis, if you are currently in a home health care setting, etc.
| Insurance Company / Plan | Underwriting Guidelines for Chronic Bronchitis |
|---|---|
| Aetna (Protection Series) | Decline if: Paired with tobacco, Insured takes 3 or more medications for any lung/respiratory disorder, Insured uses a nebulizer |
| American Amicable (Senior Choice) | ROP if treated within 2 years, Graded if treated between 2-3 years ago |
| CFG | Advantage Graded |
| CVS (Aetna Accendo) | Decline if insured uses a nebulizer |
| Foresters (BrightFuture) | Decline |
| Foresters (PlanRight) | Standard |
| GPM | Graded if treated within 2 years |
| Great Western | Graded if treated within 2 years |
| Guarantee Trust Life | Graded |
| Liberty Bankers | Standard if treated within 2 years, Modified if paired with tobacco |
| Lincoln Heritage | Modified if treated within 2 years |
| Mutual of Omaha (Children’s Whole Life) | Decline if treated within 3 years |
| Mutual of Omaha (Living Promise) | Graded |
| Prosperity (New Vista) | Graded |
| Royal Arcanum (Graded Benefit) | Graded |
| Royal Arcanum (SIWL) | Decline if treated within 2 years |
| Royal Neighbors | Graded if treated within 2 years |
| SBLI (Living Legacy) | Standard if treated within 5 years |
| Security National (Loyalty Plan) | Modified if paired with tobacco |
| Sentinel | New Vantage III (Modified). Graded if treated within 5 years, Modified if paired with tobacco |
| Trinity Life | Graded |
| UHL | EIWL if treated within 2 years |
The Importance of Burial Insurance for Seniors with Chronic Bronchitis
Indeed, being a senior battling chronic bronchitis, part of the larger COPD family, you are all too familiar with the persistent health challenges this disease brings along.
Furthermore, its lifelong presence necessitates ongoing medical surveillance and treatment.
However, in the midst of grappling with chronic bronchitis and COPD, the additional worry of potential funeral expenses can be burdensome.
This is precisely where the value of burial insurance becomes evident.
Finally, by securing a suitable burial insurance policy, you can rest assured that these future costs will be taken care of.
This allows your family to concentrate on healing and cherishing memories, rather than being encumbered with financial worries.
Prescribed medication history assessment
Chronic bronchitis will be prescribed with different types of drugs such as the following:
- Antimicrobials
- Antitussives/expectorants
- Bronchodilators
- Systemic Corticosteroids
- Inhaled Corticosteroids
- Antiviral Agents
- Analgesics/antipyretics
Commonly, bronchodilator medications used to treat emphysema and asthma can be prescribed to patients with chronic bronchitis.
Here are some of the most common bronchodilators:
- Albuterol
- Anoro
- Arcapta
- Brovana
- Combivent
- Incruse
- Perforomist
- ProAir
- Seebri
- Spiriva
- Stiolto
- Stiverdi
- Tudorza
- Utibron
- Xopenex
Additionally, a prescribed medication history assessment will serve as one of the due diligence processes that insurance companies will undertake to discover any other serious health issues that could potentially raise concerns.”
Chronic Bronchitis And Oxygen Therapy, Can I still Get Coverage
Particularly when prescribed oxygen therapy via a Venturi mask, it indicates your chronic bronchitis might be advancing towards a severe stage.
In this particular scenario, your risk of hypoxemia – a medical condition marked by low oxygen levels in your blood – is potentially increased.
Under these circumstances, transitioning towards a “Guaranteed Issue” (GI) plan could indeed become your only viable insurance choice.
If you’re committed to securing a final expense insurance plan, we emphatically recommend acting without delay to obtain this policy.
By initiating immediate action, you could establish a valuable layer of financial protection. Consequently, this will allow you to manage your health with an enhanced sense of security and peace of mind.
Chronic Bronchitis and Burial Insurance: Decoding the Coverage Plans
Once the underwriting process is completed, which includes a thorough examination of your health history and medication records, burial insurance providers commence their evaluation.
Their objective is to match your risk level, determined by their specific criteria, with appropriate policy proposals.
Consequently, based on this assessment, they provide insurance policy suggestions that are tailored to your unique risk profile.
Remember, every insurance company has unique benchmarks for assessing overall health, which reflects in the differing policy qualifications.
How Your Health Affects Insurance Offers
Your health status is a vital determinant of the kind of insurance policies offered to you.
After truthfully answering all application questions, it’s crucial to manage your expectations realistically.
In fact, here’s a snapshot of the most common offers you may receive from final expense insurance providers:
Level #1: Immediate Coverage at Lowest Rates
A simplified insurance plan generally involves the lowest monthly premiums with no waiting period, translating into immediate coverage starting from Day 1.
These full death benefits are passed on to your beneficiaries. It’s noteworthy, however, that a simplified insurance plan is typically offered to individuals with perfect health.
As such, if you suffer from chronic bronchitis, only a handful of top-rated insurance companies might present this option, and each will have unique qualifying conditions.
Level #2: Policies with Higher Monthly Premiums
If you don’t qualify for the simplified policy, the next best option is an insurance plan with a slightly higher monthly premium.
Despite costing around 15 to 40% more than a simplified plan, this policy provides immediate coverage, just like its simplified counterpart.
Given the nature of chronic bronchitis, this plan remains an advantageous choice. A select few companies offer this plan, and we represent those companies.
Level #3: Policy with a 24-Month Waiting Period
For applicants with higher-risk chronic bronchitis, policies typically come with a waiting period of at least 24 months.
If you pass away within this waiting period, all payments made will be refunded with a 10% interest paid to your beneficiaries.
This option ensures that your beneficiaries will receive more money than what you have paid in.
Level #4: Partial Coverage with Time-Dependent Increases
This is an option for high-risk applicants. A percentage of your full death benefit will be paid if you pass away in the first 12 months, and a higher percentage within the 13-24 months range.
Commonly known as a “Graded Plan,” it offers a 30% payout in the first 12 months, 70% from the 13th to the 24th month.
Upon completing the 24-month waiting period, your beneficiaries receive the full death amount.
Level #5: Combination of Higher Rates and Waiting Period
Typically offered to high-risk applicants, this policy involves higher costs (15-40% more monthly premium) and a minimum 24-month waiting period.
It’s worth considering that a “Guaranteed Issue Plan” from a top-rated company might be more rewarding or sensible than this option.
Level #6: Guaranteed Issue (GI) Plan
As the name implies, a GI plan guarantees acceptance, provided you are legally capable of entering into a contract.
This plan, which entails no health questions or medication history review, offers higher monthly premiums and a strict 24-month waiting period.
Usually for more severe health issues such as cancer, Dialysis patients or someone who just had heart surgery recently.
If you pass away within this period, all payments will be refunded with a 10% interest to your beneficiaries.
This plan is the sole option for seriously ill individuals.
In conclusion, the final decision remains yours, and our Final Expense Insurance Specialists are available to guide you towards the most beneficial option.
Remember, at InsuranceForBurial.com, our clients come first!
Frequently Asked Questions
Q: Can I get burial insurance if I have chronic bronchitis?
A: Yes. Many insurance providers offer burial insurance policies to people with chronic conditions, including chronic bronchitis.
Q: Is burial insurance worth the cost?
A: Yes. Burial insurance can protect your loved ones from a significant financial burden when you pass away.
Q: Is burial insurance different from life insurance?
A: Yes, burial insurance is designed specifically to cover funeral and burial costs, while life insurance is a broader policy that can be used for a variety of financial needs after your passing.
Q: How does chronic bronchitis affect my eligibility for burial insurance?
A: Chronic bronchitis may be considered a pre-existing condition by many insurance providers, but it does not automatically disqualify you from burial insurance. The terms and rates, however, may be different compared to those for individuals without pre-existing conditions.
Q: Can I get burial insurance if I’m using oxygen therapy for chronic bronchitis?
A: Yes, you can get burial insurance, but your options might be more limited. A “Guaranteed Issue” policy, which does not require medical examination, might be the most feasible choice.
Q: Are there insurance providers specializing in coverage for people with chronic illnesses?
A: Yes, some insurance providers specialize in offering policies to individuals with chronic illnesses, including chronic bronchitis and COPD.
Q: Will my burial insurance premium increase if my chronic bronchitis worsens?
A: Once your burial insurance policy is in place, your premium generally remains the same for the duration of the policy, regardless of any changes in your health condition.
Q: Can my burial insurance be canceled if my chronic bronchitis progresses to COPD?
A: No, once your policy is active, your coverage continues as long as you keep paying your premiums, even if your health condition changes.
Q: How can I find the most affordable burial insurance policy for my condition?
A: It’s best to compare policies from multiple insurance providers, taking into account not only the cost but also the coverage and company’s reputation. Working with an insurance expert who understands chronic bronchitis and related conditions can also be helpful.
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Conclusion
If you’re a senior living with chronic bronchitis, affordable burial insurance isn’t just a possibility – it’s a must. It provides a safety net for your loved ones, protecting them from financial stress during an already challenging time.
In fact, with the right coverage, you can find peace of mind and ensure that your final expenses won’t be a burden to those you care about most.
In the end, it’s about providing for your family, even when you’re no longer here to do so. And that’s a decision worth making.
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