The Truth About Burial Insurance With Alzheimer’s or Dementia
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Did you know that Alzheimer’s disease is the sixth leading cause of death in the United States? In fact, the average diagnosis is over age 70.
According to the Centers for Disease Control and Prevention (CDC), it is estimated that more than 5 million Americans have been diagnosed with Alzheimer’s disease.
Unfortunately, about 70 percent of those individuals are under the age of 65 when they are diagnosed. Many people will not reach retirement age before their diagnosis and will require long-term care services.
With so many people being diagnosed with this disease at a younger age, it’s essential to protect your family from financial hardship if you or a loved one has Alzheimer’s or another form of dementia.
This article will discuss burial insurance for Alzheimer’s and dementia, how much it costs, and why you need this protection for yourself or your loved one.
Quick Article Navigation
- Burial Insurance With Alzheimer’s Or Dementia: What is it?
- Symptoms of Alzheimer’s or Dementia
- Best insurance policy option for Alzheimer’s or Dementia
- Who Needs Burial Insurance With Dementia?
- Why do people living with Alzheimer’s or Dementia Need Guarantee Issues Burial Insurance?
- What Does Burial Insurance for Alzheimer’s or Dementia Cover?
- How does burial insurance for Alzheimer’s and Dementia work?
- Is a medical test required for Burial insurance for Alzheimer’s / Dementia?
- Burial Insurance Underwriting With Alzheimer’s / Dementia
- Common medications for Alzheimer’s / Dementia:
- What is the advantage of burial insurance with Alzheimer’s / Dementia?
- How To Get The Best Burial Insurance with Alzheimer’s / Dementia?
Burial Insurance With Alzheimer’s Or Dementia: What is it?
Burial insurance for Alzheimer’s / dementia is the process of purchasing a burial policy for someone who has advanced Alzheimer’s disease or dementia. In most cases, these are seniors looking for burial insurance in their 80s.
It is a type of funeral insurance that pays you if your loved one needs to be buried because they have died from this medical condition.
Burial Insurance With Alzheimer’s / Dementia is often taken out by those who have lost their spouse or partner to Alzheimer’s disease or other types of dementia.
The person who owns the policy will not only be covered but will also receive a percentage of the payout if their loved one’s death results from an illness that could have been prevented with proper treatment and care.
The policy also includes coverage for those eligible for Medicaid, Medicare, or other government assistance programs. In addition, it can pay for funeral services such as cremation and burial and any other expenses related to death like embalming or casket rental fees.
Symptoms of Alzheimer’s or Dementia
Alzheimer’s, or dementia, is a degenerative brain disease that slowly and progressively damages memory and thinking skills. It’s the most common cause of dementia in older adults. Others include vision issues or blindness.
Alzheimer’s affects nearly 5 million Americans, but many don’t know they have it until it’s too late. The disease progresses slowly over time, but there is no cure, so treatment must be done as soon as possible to slow down the progression of Alzheimer’s to allow for more time for treatment to work.
Symptoms of Alzheimer’s / Dementia are as follows:
- Difficulty with memory, concentration, and reasoning skills
- Problems with language and communication
- Difficulty getting dressed and undressed
- Confusion about the self and identity
- Increasing anxiety or aggression
- leads to poor judgment and poor decisions
- Loss of motivation and motivational ability
- Lack of initiative and spontaneity
- Repeating questions
- causes mood swings and changes in personality
- Misplacing things or losing them
Also, keep in mind that heart surgery or getting stents does increase the risk of developing dementia or Alzheimer’s.
Best insurance policy option for Alzheimer’s or Dementia
You or your loved one can only be covered by one insurance policy if you or they have been diagnosed, have received dementia treatment, or have been advised to take dementia medication.
A guaranteed issue burial insurance policy that does not ask about your health is the best option. You are guaranteed acceptance regardless of your dementia diagnosis if you meet the age requirement.
The first-day coverage for accidental deaths is included in guaranteed acceptance burial insurance. If you die during the waiting period, the insurance company will refund your premiums plus 7-10% interest.
Medical or health-related deaths can take two years or more to occur.
Who Needs Burial Insurance With Dementia?
People with dementia or Alzheimer’s often find it challenging to take care of their personal affairs. They may need help making funeral arrangements, including choosing a final resting place.
If you have a loved one who needs help because of their condition, you may want to consider purchasing burial insurance. This way, they will be able to receive the proper home health care they deserve while they are still alive.
Why do people living with Alzheimer’s or Dementia Need Guarantee Issues Burial Insurance?
Traditional life insurance with first-day coverage does not apply to people with dementia. People with dementia will not be covered by standard life insurance.
You should purchase guaranteed issue life insurance if you have recently been diagnosed with dementia or are in the early stages of dementia.
It is ideal for shopping for life insurance before a diagnosis of dementia has been made. It is best to get life insurance protection now unless you have a substantial savings account or another way to provide for your family.
Getting coverage sooner is better since there is a two-year waiting period.
If you apply now at a younger age, you will be able to save on your premium if you begin working immediately through the waiting period.
Additionally, the premium is based on your current age, so the sooner you start working, you will become fully covered.
You must work with an independent agent to understand each company’s different coverage requirements and policy limitations.
What Does Burial Insurance for Alzheimer’s or Dementia Cover?
Burial insurance with Alzheimer’s disease or dementia covers the cost of burial, cremation, and plot. It can also pay for an inurnment plot for members of your family who have been diagnosed with Alzheimer’s or other types of dementia.
Burial insurance pays for funeral and cremation costs, including services, caskets, urns, and plots. It also covers the expenses of inurnments if you die while your spouse is still alive.
Many companies will pay for inurnments on top of basic burial costs, but it’s essential to know that some policies do not cover this type. You should also know that some policies will not cover all aspects of a funeral service; they only cover primary burials and cremations.
How does burial insurance for Alzheimer’s and Dementia work?
Burial insurance for Alzheimer’s / dementia is a form of life insurance that pays the costs associated with a person’s funeral.
These costs include the burial, cremation, and other services required to take care of the remains at the time of death. The policyholder pays a premium for this coverage and then passes the benefit to their beneficiaries.
The policyholder will pay a premium for this coverage and then pass on the benefit to their beneficiaries. The beneficiary is then responsible for paying for all aspects of their loved one’s funeral, including casket and vault costs and cremation expenses.
Suppose you have someone in your family who has Alzheimer’s disease, dementia, or another form of mental illness. In that case, it may be vital for them to have burial insurance for Alzheimer’s / Dementia before they die so that they can provide some security for their loved ones who will soon inherit their assets after passing away.
Is a medical test required for Burial insurance for Alzheimer’s / Dementia?
No medical tests are required to qualify for burial insurance if you have Alzheimer’s / Dementia. If you apply for funeral insurance, you won’t have to submit any medical records or blood or urine samples.
You’ll only need to answer a few questions about your health during the application process.
It usually takes the insurance provider just a few minutes to approve you!
Burial Insurance Underwriting With Alzheimer’s / Dementia
During the underwriting process, what information do insurance companies typically request?
- Ask about your general health and any illnesses you may have.
- Mention any medications you are currently taking.
- Thirdly, if you have ever been hospitalized is a question that is often asked.
You can use these questions to determine how likely you are to develop certain diseases, such as Alzheimer’s / Dementia.
Research may suggest that 60 sessions of some sought oxygen therapy over 90 days significantly improve cognitive abilities.
Some health questions might ask if you have Alzheimer’s / Dementia. These queries usually require a yes or no response. Here are some sample queries you might be asked:
These are the most common questions asked about dementia:
- Has a physician-diagnosed you with dementia, Alzheimer’s disease, or mental incapacity within the past 24 months, or have you received treatment for these conditions?
- Have you taken medication or been treated for Alzheimer’s, dementia, or schizophrenia?
- Are you taking Aricept, Donepezil, Cognex, Exelon, Namenda, or Razadyne?
- Are you suffering from Alzheimer’s disease or dementia?
- You might also see questions that ask about symptoms: During the past 24 months, have you experienced periods of forgetfulness or confusion that interfered with your ability to function independently?
If you answer “yes” to any of these questions, the life insurance company will likely require more information from your physician.
Check The Prescription history.
If you have Alzheimer’s or dementia and are covered by a burial insurance policy, your doctor may be able to help determine whether you are eligible for the policy.
In many cases, there is no need to wait until the policy has lapsed and you need to renew it. If your doctor can confirm that you are eligible, they can write the necessary prescription for coverage under an existing policy.
Common medications for Alzheimer’s / Dementia:
The most common medications to treat Alzheimer’s or dementia include acetyl L-carnitine, Aricept, and galantamine.
Acetyl L–Carnitine: Acetyl L-carnitine is a natural compound that can help improve memory by increasing levels of acetylcholine.
Aricept: Aricept is approved to treat early-stage Alzheimer’s disease in patients with amnestic mild cognitive impairment (aMCI). It does not slow the progression of dementia but can help improve short-term memory, thinking skills, mood, and behavior in people with aMCI.
Galantamine: Galantamine is an older drug that has been shown to slow the progression of Alzheimer’s disease when combined with acetyl L-carnitine. It also works by blocking amyloid-beta proteins from forming clumps in the brain.
Cognex: Cognex is an anti-Alzheimer’s drug that treats mild to moderate forms of Alzheimer’s disease. It was initially developed as an antidepressant but was found to have positive effects on cognition in healthy adults and those at risk for developing Alzheimer’s disease.
What is the advantage of burial insurance with Alzheimer’s / Dementia?
Burial insurance with Alzheimer’s / Dementia can be an enormous financial burden for family members who have to pay for everything independently. It is the same situation if you have MS.
It can lead to a devastating emotional toll, especially when they see their loved one being treated like a burden instead of someone still living and deserving of dignity and respect.
Using burial insurance with dementia provides peace of mind and access to financial resources that may otherwise be difficult or impossible to obtain.
It can help reduce stress and anxiety levels in the family by offering a financial safety net in case of emergencies or unexpected expenses associated with caring for an aging relative with Alzheimer’s / Dementia.”
How To Get The Best Burial Insurance with Alzheimer’s / Dementia?
A person who does not have dementia or Alzheimer’s should get guaranteed issue burial insurance through Insurance For Burial.
Most people cannot afford guaranteed-issue insurance plans. If you have health concerns, you should consult a professional to determine your best options.
An agent representing various insurance companies can help you choose the best burial insurance plan if you have dementia, Alzheimer’s disease, or other health conditions.
We have a team of experienced insurance specialists at InsuranceForBurial.com who are dedicated to finding you the right burial insurance policy, regardless of your health or current condition.
In addition to providing the best possible service to our customers, our company has years of experience in this area.
We recommend working with an independent agency with many companies to choose from, even if you do not decide to employ us. Doing so will stand a good chance of getting a great deal.
You can get a burial insurance quote online or by calling (855) 380-3300. We’ll provide you with no-pressure advice and ease the process. Fill out the quote form with your phone number, and we’ll get back to you shortly.
Burial insurance is a type of whole life insurance intended to cover the costs of your funeral and other end-of-life expenses. It is often sold as a way to bring peace of mind to your loved ones, but it is essential to understand the limitations of this type of coverage.
Burial insurance will not cover long-term care costs, and it may be the best option for people with Alzheimer’s or other terminal illnesses.
Apply online today to get a quote and see how affordable burial insurance is!
Monaco, L. (2022, May 22). The Truth About Burial Insurance with Pre Existing Conditions [2022 Review]. InsuranceForBurial.Com. https://insuranceforburial.com/blog/burial-insurance-pre-existing-conditions/