With more than 3 million new cases per year in the United States, this condition mainly affects people over forty.
Both chronic bronchitis and emphysema fall under the umbrella of Chronic Obstructive Pulmonary Disease (COPD). However, according to the American Lung Association, some doctors think that chronic bronchitis may be present even though a person does not have the airway obstruction characteristic of COPD.
This gets a little tricky when finding the right burial insurance plan to cover your final expenses.
Can I Get Final Expense Insurance With Chronic Bronchitis?
Seniors can get affordable coverage with no waiting period. The easiest way to find low-cost final expense insurance with chronic bronchitis is by working with an independent agency specializing in this type of protection.
The best companies that accept this condition are outlined in this article, along with other helpful information regarding finding a policy on a budget.
Can You Get Life Insurance with COPD?
It is possible to get life insurance with COPD. However, it is imperative that you work with the appropriate life insurance company because not all carriers will accept applicants with this condition. Final expense is an affordable option that allows for immediate coverage from specific companies.
Burial insurance for COPD is both affordable and attainable.
The Details of Burial Insurance
Burial coverage is simplified issue whole life insurance. It was designed to provide seniors with an affordable way to cover their inevitable final expenses. By taking out a policy, you will be making small monthly payments in which the coverage remains the same, and the monthly cost never changes.
Simplified issue refers to the fact that you will never be asked to get a medical exam. Whole life means that the coverage lasts for your entire life and never expires.
The Basics of Final Expense:
- No Expiration
- Coverage Lock
- Price Lock
- Builds Cash Value
- No Medical Exam
- No Waiting Period Options
To get immediate coverage with no waiting period, you must qualify based on your medical history.
There is no exam, but you will be asked a series of health questions to determine eligibility. This process is known as underwriting and takes about 20 minutes and can be done entirely over the phone.
Does Final Expense Insurance Make Sense for Seniors with Chronic Bronchitis?
Final expense coverage makes sense if you do not want to burden your family with end-of-life expenses and you do not have the savings to cover these costs. It could also be a good option if you do not currently have insurance or wish to keep an existing policy’s payout separate from your final expense fund.
How Does Underwriting Work For Burial Insurance With Chronic Bronchitis?
Underwriting is essentially the decision-making process. Each insurance company sets its guidelines based on its risk tolerance for health conditions it will or will not accept.
Why Does Chronic Bronchitis affect Coverage?
If not treated promptly, chronic bronchitis is known to cause severe damage to the lungs, leading to additional respiratory organ problems, heart failure, and an increased risk of lung cancer.
- Dyspnea: shortness of breath
- Pneumonia: an inflammatory condition of the lungs
- Respiratory failure: the inadequate intake of oxygen and exhalation of carbon dioxide in the respiratory system
- Cor pulmonale: failure of the right side of the heart
- Pneumothorax: collapsed lungs
- Polycythemia: increased levels of red blood cells
- Emphysema: a long-term, chronic condition affecting the function of the air sacs in the lungs
For these reasons, it is something that most insurance providers will ask about when determining coverage eligibility.
What is the Cost of Funeral Insurance with Chronic Bronchitis?
Prices vary based on the applicant’s health, age, gender, and desired coverage amount. If you have used tobacco within the last 12-24 months, this will also increase the cost with most providers.
Whole Life Insurance with Chronic Bronchitis
$10,000 of Coverage
|50||$31 – $37||$38 – $45|
|55||$37 – $44||$47 – $59|
|60||$44 – $51||$59 – $74|
|65||$55 – $65||$79 – $93|
|70||$72 – $83||$105 – $116|
|75||$96 – $124||$139 – $167|
|80||$139 – $174||$196 – $225|
|85||$208 – $263||$295 – $320|
What Is The Best Funeral Insurance With Chronic Bronchitis?
There are several outstanding final expense life insurance companies. The determining factor of what makes the “best” is different from person to person as each company sets its own qualifying standards. Depending on the pre-existing conditions someone has will define which company is best for them.
What to Look for Before Applying
Low-Cost: Not all policies are priced the same. Get your funeral insurance at the lowest rate available to you based on your health.
Immediate Coverage (if possible): People with chronic bronchitis can qualify for immediate coverage from select carriers. Unless you have additional health concerns, do not apply for a policy that has a waiting period.
Good Financial Rating: Insurance companies are rated by third-party organizations to determine their financial strength. Only work with a carrier that has a high rating because this will give you peace of mind knowing your beneficiary will get paid when the claim is filed.
Best Companies for Chronic Bronchitis
The companies listed below are recommendations for those with chronic bronchitis. However, if you use oxygen to assist with breathing, you will be disqualified from the three listed companies.
Aetna (CVS Health): With Aetna, people with chronic bronchitis are eligible for coverage with no waiting period from the Standard plan. Depending on the proposed insured’s age, gender, and tobacco use, Aetna could provide lower monthly premiums than the other companies.
Transamerica: With a chronic bronchitis diagnosis, you are eligible for Transamerica’s Standard (Level) plan. Non-smokers can get low rates, while those that use tobacco will find lower prices with other companies.
Foresters Financial: People with this diagnosis can qualify for the Standard policy. While this company’s prices are slightly higher than others for non-smokers, Foresters Financial could be the right option for those with mental health concerns as Transamerica and Aetna are not as lenient when it comes to these pre-existing conditions.
Likewise, for tobacco users, the Standard plan from Foresters offers low rates dependent upon age at application.
Captive vs. Independent Agencies
Captive Agencies: Agents that are captive sell products from only one company. These companies typically advertise a lot and are household names.
Independent Agencies: This agent type can represent many insurance companies. This equates to a more extensive portfolio of offerings. By having a wide variety of policies to offer, independent agents can better search out the best coverage for their client’s needs.
By utilizing the knowledge of an experienced and specialized independent agent, you will save time and money.
Final Thoughts About Burial Insurance With Chronic Bronchitis
a. It is possible to get affordable final expense insurance with chronic bronchitis. The key is to know which companies will accept those who have this condition with no waiting period.
b. Select companies will insure seniors with chronic bronchitis, and coverage will depend on other pre-existing conditions.
c. By working with a specialized independent agency, you will save time and money while gaining peace of mind.