According to the Center for Disease Control and Prevention (CDC), this chronic condition is an uncomfortable and painful reality for about 4 million Americans.
This common condition is thought to be caused by how the brain and spinal cord process painful and non-painful signals leading to amplified pain sensations. This leads to widespread musculoskeletal pain accompanied by fatigue, sleep, memory, and mood problems.
Can I Get Burial Insurance With Fibromyalgia?
Being diagnosed with fibromyalgia will not affect your ability to get burial life insurance coverage. Very few companies even ask about it on the application, meaning they do not care if you have it.
However, certain complications associated with fibromyalgia can affect coverage from some top burial expense insurance providers.
Burial Insurance Benefits
Burial coverage is a type of whole life insurance and is also referred to as funeral, final expense, and senior life insurance. These plans were designed specifically for seniors to create an affordable financial plan to cover the inevitable end-of-life costs and come with the benefits listed below.
Affordable: Funeral insurance comes in smaller policy amounts, making it more affordable.
No Medical Exam: This coverage is known as “simplified issue” meaning that the application can be completed over the phone and without a medical exam. You will be asked a series of questions to qualify for a policy with immediate coverage and no waiting period.
Immediate Coverage: Seniors with fibromyalgia can get protection with no waiting period. And once approved, your coverage will begin as soon as you make your first premium payment.
Whole Life Basics
All whole life insurance policies come with the primary benefits listed below.
No Expiration: Whole life insurance lasts for the insured’s entire life. Also, the amount of coverage initially taken out will remain the same as long as you keep the policy. This ensures your loved ones receive the entire amount you intended.
Price Lock: The monthly premiums you pay will never fluctuate. They will remain consistent for life.
Builds Cash Value: Whole life policies build a cash value over time. The amount accumulates and allows the policy owner to borrow against the cash value.
Underwriting Final Expense Insurance With Fibromyalgia
The decision-making process of whether or not a company will accept an individual for coverage is the underwriting process. The criteria are set before submitting an application and are the same for everyone.
Your agent will help pre-qualify you for a plan before assisting you in applying. You will be asked a series of “YES” or “NO” health questions to determine eligibility.
Associated Complications of Fibromyalgia
While most companies will not ask about your fibromyalgia, they might ask about other associated conditions. For example, if your widespread pain develops due to lupus or rheumatoid arthritis, it could affect your coverage options.
Other medical situations that could affect acceptance from certain companies are depression and sleep apnea.
While not a concern for most carriers, depression could affect your coverage, depending on the medications you take to combat it.
Sleep apnea could affect your coverage options if you use oxygen equipment to assist with breathing (CPAP). However, most carriers are fine with sleep apnea; just mention your CPAP use to your agent.
Most other closely linked conditions will not cause issues; however, you must inform your agent about any medical treatments you have received.
How To Find The Best Final Expense Insurance With Fibromyalgia
Since most providers do not ask about fibromyalgia, it is safe to assume any carrier will accept you. However, if you have additional health concerns, it is vital that you work directly with an insurance agent that can help steer you in the right direction toward the best plan for you.
3 Things to Look for in a Final Expense Policy
There are 3 essential things to watch for because most insurance companies will accept fibromyalgia.
Price: Since the price is locked in for life, getting a policy you can afford is necessary.
Company’s Finacial Status: Insurance providers get financial ratings from third-party organizations. Ensure the company has at least a B+ rating from AM Best, as this is a sign of longevity and that they will be around well into the future to pay your claim when due.
Start of Coverage: Getting coverage that begins immediately is essential. For seniors with fibromyalgia, there isn’t a reason to apply for a plan with a waiting period unless you have other health concerns.
How to Buy Senior Life Insurance with Fibromyalgia
There are two main ways to purchase a life insurance policy, directly from the company or an insurance agency.
Directly from the Insurance Company: When buying directly from the insurance provider, you will likely use their website or speak to an agent representative. While this might seem like the best route to take, the company’s top policies are often not available to you in this way.
Many companies contract their premier plans to insurance agencies, making them unavailable to even their own agent representatives.
Insurance Agencies: Working with an insurance agency opens the door to more coverage possibilities. As previously mentioned, each carrier is condition-specific regarding getting accepted for coverage. By working with an insurance agency not tied to only one plan, you open up the opportunity to get the best policy available.
Working with an insurance agency will not cost you more. In fact, it will likely save you time and money. Insurance agencies get paid by the carriers for bringing customers, and you will not pay anything to the agency itself.
Final Thoughts On Funeral Insurance With Fibromyalgia
a. It is possible to get burial insurance with fibromyalgia from most companies.
b. If you had a condition that led to your fibromyalgia or if you have other unrelated medical concerns, this could affect your coverage.
c. Working with an insurance agency specializing in final expense will allow you to get the coverage at the best rate possible.