Burial Insurance With Congestive Heart Failure (CHF)

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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Did you know the average funeral expenses cost $8,000 – $12,000, and Social Security will pay a maximum of only $255 for those that qualify? This is when funeral life insurance is of great help.

Qualifying for the best life insurance companies with heart disease can be difficult depending on the particular heart condition. Specifically, obtaining funeral life insurance for congestive heart failure patients is more complex but still very possible.

Burial Insurance With Congestive Heart Failure (CHF)

CHF is a chronic condition that, due to its severity, is looked at differently by funeral insurance companies. Patients with pre-existing conditions like a heart attack, heart bypass surgery, pacemaker, or defibrillator implant will be looked at differently than seniors with congestive heart failure.

Can You Get Life Insurance with Congestive Heart Failure?

Life insurance for heart failure patients is available. However, even the most lenient plans will have a 2-year waiting period before full coverage can be awarded. Guaranteed issue plans are available to anyone, regardless of health.

After the two-year waiting period, the beneficiary will receive the full policy amount when the insured passes away.

Each funeral insurance company determines what is paid during the waiting period.

Funeral Insurance Coverage Basics

Funeral insurance coverage was designed to provide seniors with an affordable way to pay for final expenses while not leaving a financial burden on their loved ones. These whole life plans are also known as final expense coverage or burial insurance.

Policies are simple to understand and obtain. With simplified issue underwriting, it is easy to know if you qualify. Your policy will often be written and sent to you within a few days.

Not only is the application process quick, but the beneficiary receives the tax-free lump-sum death benefit very soon after filing the claim. Most people find the flexibility of the death benefit to be of great importance as the beneficiary can use it for anything necessary. There are no restrictions as to what they can spend the money on.

Final Expense Insurance Benefits

  • No Expiration
  • Coverage Lock
  • Price Lock
  • Builds Cash Value
  • No Medical Exam
  • No Denial
heart beat scan

Burial Life Insurance Quotes For Heart Failure & Underwriting

Congestive heart failure is a severe heart disease that insurance carriers consider high-risk. Some policies ask medical questions to qualify, while others provide guaranteed approval. All burial insurance companies that ask medical questions to qualify will specifically inquire about this heart disease.

Many applications will also inquire about pre-existing conditions that lead to a heart failure diagnosis. Since several things can lead to this, you should also look into the specific condition contributing to your CHF and any treatment you have received.

Other Health Considerations

It is very common for insurance companies to ask about the following heart-failure-related circumstances on the application for insurance coverage. The links below will provide more information on qualifying for burial insurance with the specific condition.

Final Expense Insurance Plan Tiers

Level: This is the only plan type that has immediate coverage. Level policies are also the least expensive but are unavailable to heart failure patients.

Graded: These policies provide a percentage of coverage immediately with the full death benefit available after a 2-year waiting period.

Modified: With a 2-year waiting period, this plan type is available from limited carriers to seniors with CHF. Commonly modified plans are the most expensive.

Guaranteed Issue: This plan type accepts everyone, regardless of their health. It is often referred to as guaranteed or easy acceptance and is a highly advertised coverage option. No medical questions are asked to receive coverage.

How Burial Insurance Companies React to Heart Failure

Several final expense insurance companies will consider you uninsurable, given that you are a patient with a CHF diagnosis. All applications will specifically ask whether you have ever been diagnosed or treated for congestive heart failure.

Insurance providers will react by placing you in one of two types of plans.

Answer Health Questions: You will be placed in a more restrictive plan by answering health questions. This can also result in denial of insurance coverage. The more restricted policy would be either graded or modified, with a waiting period of at least two years.

Guaranteed Acceptance Plan: Guaranteed issue life insurance might be your best option because it does not ask any health questions. Regardless of health, these policies offer acceptance to all applicants. Because of this, these plans have a 2 – 3 year waiting period.

Top-rated guaranteed issue plans are usually better than modified policies due to pricing.

Congestive Heart Failure Burial Insurance Quotes

The quotes below estimate what heart failure patients can expect to pay. These prices are for an affordable life insurance policy with a 2-year waiting period. As you can see, final expense quotes vary by age and gender, but also on health and death benefit size. Below is for $10,000 of coverage; however, you can get guaranteed whole life policies up to $25,000.

Age Female Male
50
$39
$56
55
$47
$61
60
$54
$68
65
$66
$91
70
$80
$106
75
$116
$150
80
$190
$206

Finding The Best Final Expense Insurance With Congestive Heart Failure

While several great insurance companies are on the market, the plan options are limited when dealing with high-risk conditions like CHF.

Since you will be subject to a waiting period regardless, there are 3 things to pay attention to when looking for burial insurance with congestive heart failure.

Cost: Getting the lowest price is essential and could even give you more coverage. A guaranteed policy might be best for you because several companies provide very cost-effective plan options. Use the cost calculator on this page to get a personalized quote estimate for funeral coverage.

Financial Rating: Getting a policy from a company with a solid financial rating is best. This is important because it illustrates the strength of the company’s financial future and its ability to pay claims when due.

Payout Structure: Compare the payout structure during the waiting period. The most common is a return of paid premiums plus 10% interest given to the beneficiary if death occurs during this time. However, some companies have varying interest rates. You should never wait more than 2 years to be fully covered.

AIG’s Guaranteed Issue policy is excellent life insurance for heart failure patients, with only a 2-year waiting period.

How to Buy

There are two main ways to purchase life insurance, directly from an insurance provider or through a life insurance agency.

Directly with Company: While this may sound like a great option, you will only have access to that company’s plans if you call a company directly. The agent representative cannot price check other policies for you, and they are tied to the policies offered by that one provider.

Insurance Agency: An agency can represent several products from multiple companies. The agency can choose which products they represent. They are not tied to one specific product, which provides more options to the consumer.

Final Thoughts

a. Affordable funeral insurance with congestive heart failure is possible to get. Understanding which company will accept this condition is of the highest importance.

b. Congestive heart failure patients will encounter a 2-year waiting period before being fully covered. A guaranteed acceptance plan might be the most cost-effective option.

c. It is always best to work with a specialized insurance agency to get the best plan for your specific needs. This will save you time and money.