How To Get Affordable Burial Insurance With COPD
Yes, you can get burial insurance with COPD. Many insurance companies offer final expense policies with no waiting period, even for COPD patients. However, to qualify for a lower-cost policy without a waiting period, your COPD must not require oxygen equipment.
What Is COPD and How Does It Affect Burial Insurance?
COPD, or Chronic Obstructive Pulmonary Disease, is a term used for progressive lung diseases like emphysema and chronic bronchitis.
These conditions limit lung function, often leading to breathlessness.
Burial insurance companies make no distinction between different types of COPD.
Before you decide, it’s essential to compare different insurers to find the best burial plan that fits your needs.
Some companies specialize in providing coverage for people with severe health conditions like emphysema, offering more flexibility.
However, if you use oxygen equipment, you will likely be required to opt for a policy with a two-year waiting period.
In most cases, this means you’ll qualify for a graded or modified plan.
That said, if you have COPD and use oxygen equipment, some insurance providers still offer immediate coverage, though options are limited.
Be sure to disclose your complete medical history to ensure you receive accurate quotes and avoid issues with claims in the future.
Best Burial Insurance Companies for People With COPD
Using our personalized quoting tool you can compare the best funeral insurance companies that will approve a policy with no waiting period, even if you have COPD.
This tool helps you get the most competitive rates while quickly securing the coverage you need.
For example, below are the top 5 best burial insurance companies that offer competitive rates and may provide immediate coverage, depending on your specific situation.
| Insurance Provider | Applicant Age | Coverage Limit | COPD |
|---|---|---|---|
|
45-85 | $1,000–$50,000 | Tobacco Use Accepted Oxygen Equipment In Use |
|
50-85 | $5,000–$20,000 | Tobacco Use Accepted No Oxygen Equipment |
|
40-89 | $2,000–$50,000 | Tobacco Use Accepted No Oxygen Equipment |
|
50-80 | $3,000–$40,000 | Tobacco Use Accepted No Oxygen Equipment |
|
45-80 | $5,000–$50,000 | Tobacco Use Accepted No Oxygen Equipment |
How Will COPD Affect My Final Expense Insurance Policy?
COPD can affect your final expense insurance policy in a few ways.
The only way to get a plan that offers immediate coverage with no waiting period is to apply with a company that asks health questions and gets approved.
And remember: health questions mean no health exam is required.
To be clear, policies that do ask health questions can offer immediate coverage with no waiting period.
Why is it important to understand the differences between policies?
Because with this type of insurance, some policies have health questions, while others do not.
For example, if you choose a guaranteed issue policy, you will get one with no health questions.
Just because you cannot be denied due to COPD or any other health condition, it doesn’t mean guaranteed issue final expense policies are better.
In fact, these plans always come with a two-year waiting period. If you pass away during this time, the provider will refund your premiums plus interest.
Insurance for people with pre-existing conditions like emphysema often includes this waiting period to mitigate risk.
If you want to avoid a burial insurance policy with a two-year waiting period, the best option for you is to call us at 1-888-682-2186 for an accurate and easy assessment.
How COPD Affects Burial Insurance Rates?
COPD can directly impact the rates you pay for burial insurance. The key is understanding the different types of policies and what you can qualify for based on your condition.
- Preferred Plan: Also known as Level Plan, this is one of the best options on the market because it offers the lowest rates and no waiting period. Applicants must be in excellent health condition to qualify for a level policy. You generally must be free of recent surgeries, prescriptions, or significant health conditions, with the exception of tobacco use.
- Standard Plan: This is the second most affordable type of burial insurance, often available to individuals with health issues like COPD. This policy typically has fewer health questions to answer compared to a level/preferred plan, and it offers no waiting period for coverage. While premiums are higher than the standard plan, it’s an excellent option if you don’t qualify for a level plan.
- Graded Plan: A graded policy comes with a limited death benefit during the first two years. If the policyholder passes away during this period, the insurer delays the full payout and only pays a portion of the death benefit. The typical rates range from 30%-40% of the benefit in the first 12 months and 50%-70% during months 13-24. Because of this partial coverage, the premiums for a graded plan with a pre-existing condition like COPD are higher than those of a standard policy.
- Modified Plan: This plan is often the only option for applicants with more significant health risks. However, for most people with COPD, many insurance carriers will offer a standard rating instead. For this life insurance plan, there is some important information to remember. One key feature is the two-year waiting period, which is always the case with this plan. Finally, the premiums paid and a small additional percentage are returned to the beneficiary if the insured passes away.
Insurance for people with chronic bronchitis might cost more due to the increased risk, but options like modified policies can still provide coverage.
It’s essential to compare plans and work with a knowledgeable agent to get insurance that fits your budget and needs.
How Much Does Burial Insurance with COPD Cost?
The average cost of funeral insurance generally ranges between $30 to $70 per month.
While these are general cost estimates, it’s important to remember that your final price will be influenced by your specific situation, including health, age, tobacco usage and the amount of coverage you want.
Below, you’ll find typical monthly rates for someone with COPD and no tobacco use looking for $10,000 in insurance coverage.
| Applicant Age | Female ($10,000) | Male ($10,000) |
|---|---|---|
| 50 | $27.67 | $34.66 |
| 55 | $34.12 | $42.37 |
| 60 | $39.42 | $51.11 |
| 65 | $49.35 | $66.43 |
| 70 | $69.68 | $101.90 |
| 75 | $93.74 | $135.00 |
| 80 | $135.32 | $190.34 |
| 85 | $202.25 | $280.60 |
What is Final Expense Insurance And How Does It Work?
Final expense insurance, also called burial or funeral insurance, is a whole-life policy that helps cover medical bills and funeral expenses after you pass away.
It’s especially popular among seniors and offers an easy, no-exam application process. You’ll typically only need to answer a few health questions to qualify.
This type of insurance has several crucial features.
First, it’s whole life insurance, meaning that, unlike term life insurance, the policy won’t expire as long as you continue paying your premiums.
It also builds cash value over time, which you can borrow from. Additionally, your premiums will remain fixed so they won’t increase over time.
Final expense plans are often approved quickly, sometimes within just a few days, and are available to individuals aged 50-85, with coverage amounts up to $50,000. These plans are also affordable, making them a popular choice for covering end-of-life expenses.
Funeral insurance with pre-existing conditions is an excellent option for those struggling to buy life insurance elsewhere.
Seniors with chronic bronchitis, for example, can still secure coverage without undergoing a medical exam, making it more accessible than traditional policies.
If you’re unsure whether this is the right choice for you, it’s a good idea to consult a life insurance expert like Active Mutual to explore all your options and find the best plan for your needs.
How To Get A Better Life Insurance Policy Using Active Mutual?
Your health conditions don’t have to limit your options in getting the best funeral insurance option possible.
Here at Active Mutual, we have the knowledge and experience to help you navigate this process.
While many final expense insurance companies may require a two-year waiting period for COPD, we work with several life insurance providers that may offer first-day coverage.
This is a massive benefit for anyone with this condition who wants immediate coverage.
For example, if you use oxygen equipment for your COPD condition, your options for a plan with no waiting period are severely limited.
Only a few companies nationwide, such as Transamerica, offer a plan with no waiting period.
However, in this case, you cannot buy insurance directly from the company, and your only option is to use an insurance agent or agency.
This is where Active Mutual shines, making sure you find the best life insurance with COPD.
FAQs
Do You Need a Medical Exam for Final Expense Insurance With COPD?
No, a medical exam for final expense insurance with COPD is not required.
How Do Insurers Know If I Have COPD?
Insurers know if you have COPD by reviewing your application answers, checking if you’ve been diagnosed or treated for it, and verifying your prescription history for medications like Advair, Spiriva, Flovent, and Symbicort.
Will COPD disqualify you from final expense insurance?
COPD will not disqualify you from final expense insurance, but it may lead to higher premiums or a waiting period before full benefits are available.
What To Do If You Use Oxygen or Breathing Assistance Devices
If you use oxygen equipment, you’ll face a two-year waiting period with higher rates for a graded or modified plan, though immediate coverage is possible with two specific providers.
Will my policy be affected if my COPD worsens?
No, your coverage won’t change even if your COPD worsens as long as you continue paying your premiums.
