Burial Insurance With Asthma

Jake Irving

Jake Irving is the Founder of Policy and has contributed to articles for Synchrony Financial, GoBankingRates, Yahoo News, UpCity, Zapier, LegalZoom, and more.

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If you have been newly diagnosed with asthma or have been living with it for some time now, it can affect your daily activities.

Whether your condition is mild, moderate, or severe, something you will eventually have to consider is if and how it will affect your ability to qualify for final expense life insurance coverage.

Is Final Expense Insurance With Asthma Possible To Get?

Several final expense life insurance companies will provide immediate coverage at low rates to people with asthma. Many carriers do not even ask about this condition during the underwriting process. This means that you will be getting the same coverage as someone who doesn’t have an asthma diagnosis.

Burial Insurance Policy Basics

Final expense coverage is also known as funeral or burial insurance. This coverage is generally intended for seniors who are not looking for income replacement after they pass away. Instead, it is for people who want to cover the final expenses in life such as funeral costs, medical bills, and costs to close out accounts.

The average cost of a basic funeral service is between $8,000 – $12,000. For those you love, this can bring unexpected financial hardship in a time of grief.

Whole Life Funeral Insurance Features:

  • No Expiration
  • Coverage Lock
  • Price Lock
  • Builds Cash Value
  • No Medical Exam
  • No Waiting Period Options

You can medically qualify for a plan with no waiting period by answering favorably to the health questions. For people with asthma, this is not an issue.

Quotes for Funeral Insurance with Asthma

The premiums listed below show the price range someone can expect to pay, based on their age, when the policy is taken out. The price will never increase as long as the insured makes monthly payments to keep the policy in force. For final expense applicants who are smokers, the price will be slightly higher.

Price is affected by age, health, coverage amount, and gender, as reflected in the chart below.

Quote Range with Asthma

$10,000 of Coverage

Non-Tobacco Monthly Premiums

50$26 – $37$32 – $41 
55$31 – $44$37 – $48 
60$34 – $51$45 – $62 
65$43 – $62$56 – $80 
70$53 – $77$73 – $106 
75$75 – $98$103 – $144 
80$111 – $141$147 – $203 
85$166 – $220$201 – $312 

Underwriting Burial Insurance With Asthma

Underwriting is the decision-making process to determine if the carrier will accept an applicant. Each company predetermines the guidelines for acceptance, so they essentially examine if you meet the criteria.

It is essential to understand that since each company sets its own guidelines, there will be certain health conditions that one company will accept that another will not.

On the application for coverage, you will be asked a series of health questions. By answering favorably to all the questions, you will be eligible for the best coverage available from the company.

The goal is to find a company that does not explicitly ask about asthma so that you can qualify for a top-tier plan at the lowest cost.

Why Asthma Matters for Funeral Insurance

Your overall health status is of great importance to the life insurance providers as they are interested in your wellbeing.

While asthma is relatively common and can be easy to control (compared to other diagnoses), it still raises the risk of additional concerns. While these are not guaranteed to happen, they are of interest to the companies insuring people with asthma.

Complications can include:

  • Increased ER visits
  • Lingering cough
  • Depression
  • Missing work
  • Lack of physical activity
  • Diabetes
  • High blood pressure
  • Weight gain

Top Funeral Insurance Companies For Asthma Patients

The companies listed below are recommendations for people with asthma only. Each one of these companies makes our list of the best final expense insurance providers.

Please mention this to your agent if you have an additional health concern, as each health condition will bring on its eligibility concerns and potential restrictions.

Foresters Financial: This company offers the lowest rates and does not ask about this diagnosis on the application. Foresters Financial will provide the lowest cost and best coverage option unless you have additional health complications or recent procedures.

Royal Neighbors of America: This is another excellent company that will accept asthmatics with immediate coverage. The health restrictions with Royal Neighbors are more lenient than with the other companies listed here. So, if you have received an additional diagnosis, this plan could be perfect for you while still getting a great low price.

Transamerica: Transamerica is a well-respected company in this industry. People with this chronic condition are eligible for immediate coverage with Transamerica. Chronic asthma is defined by Transamerica as “using inhalers year-round on a daily or weekly basis, or filling inhalers six or more times in any 12 month period” If you do not fit this description, you could be eligible for Preferred coverage rather than Standard. Either way, you will be able to obtain immediate coverage with this company. The only difference is the monthly cost.

Aetna: Aetna is a part of the CVS family of companies. Immediate coverage is available to those who have ever been diagnosed or treated for a chronic respiratory condition. Aetna’s burial plan provides rates that are competitive with Transamerica’s Standard plan. The lowest price is dependent upon the age at application.

How to Buy a Policy with Asthma

There are many life insurance agents out there. The main difference to understand is if they are captive or independent.

Captive Agencies vs. Independent Agencies

Captive: A captive agency can represent and sell coverage from one company only, significantly limiting the options available to their customers.

Independent: An independent agency can provide coverage from a wide range of companies. This allows them to offer more plans that appeal to a wide range of consumer needs. Working with an independent agency, you will be able to have more options that provide tailored coverage.

Final Thoughts On Whole Life Insurance With Asthma

a. Burial insurance with asthma is possible to receive and affordable.

b. Several companies offer affordable and immediate final expense insurance with asthma.

c. A key takeaway is that working with an independent agent, regardless of your current health, is the best way to get coverage while saving time and money.