Burial Insurance Heart Attack

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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There is no doubt that after a heart attack, some significant changes your doctor will recommend happen in your life. From exercise to diet, your lifestyle is bound to change. Along with these adjustments, other things, such as life insurance acceptance, are affected.

Burial Insurance After A Heart Attack

If you did not have life insurance before becoming a heart attack victim, you are probably thinking about it after experiencing this life-changing event. The average US burial costs $7,643 before a cemetery plot or headstone is considered. Burial life insurance can help plan for these final expenses.

Perhaps this is your first time looking into whole life insurance after a heart attack, or maybe you were denied a larger death benefit from a traditional or term policy and are left thinking it’s impossible.

Can You Get Life Insurance After a Heart Attack?

Several types of life insurance are on the market, and burial insurance is a very affordable option after a heart attack. Final expense insurance companies mainly look at how much time has passed since your heart attack. 

Many burial insurance plans offer affordable coverage after this medical event.

Burial Life Insurance Basics

Burial insurance is a small whole life policy. This permanent coverage is also known as funeral insurance or final expense insurance.

Created For Seniors: These policies were built for people aged 50 to 80 to provide an affordable way to plan for and cover funeral expenses. It is not intended to replace an income but instead cover the final costs after someone dies.

Affordable Coverage: These life insurance plans are considered low-cost because they come in smaller policy amount options. Traditional whole life insurance starts at $50,000 while final expense coverage death benefits are $2,000 to $40,000.

No Medical Exam: Funeral life insurance plans are simplified issue, and seniors will never be asked to get a medical exam. Applications can be completed over the phone by answering a few yes or no health questions.

Whole Life Insurance Benefits

There are some basic marks that an insurance policy needs to hit to be considered whole life coverage.

  • Policy does not expire
  • Death benefit stays the same
  • Premiums never fluctuate
  • Cash value builds over time

Quotes & Underwriting Funeral Insurance After A Heart Attack

Insurance companies offer additional benefits and have slightly different requirements to qualify for coverage.

The big thing to understand is that someone’s pre-existing conditions will affect their ability to qualify for coverage.

However, this varies from company to company as they each set their own requirements. This decision-making process is referred to as underwriting.

Why Having a Heart Attack Matters for Coverage

Heart Disease is the number one cause of death in the United States, with someone experiencing a heart attack every 40 seconds.

After experiencing a myocardial infarction, your heart may be damaged, which could affect your heart’s rhythm and ability to pump blood to the rest of your body. You could also be at a higher risk for a second heart attack, stroke, transient ischemic attack (TIA), kidney disorders, coronary artery disease, and peripheral artery disease (PAD).

These are all complications that will affect your ability to qualify for coverage.

Given this information, many final expense insurance companies will accept you with heart concerns.

Other heart conditions that will affect your ability to qualify:

How Time Affects Qualifying for Coverage

It depends on how long it has been since your heart attack and other pre-existing conditions. Most funeral insurance providers look back in your medical history 2 – 4 years to determine if you qualify.

Over 24 Months Since Heart Attack

Most companies will award final expense insurance after a heart attack with no waiting period if it has been over 24 months. Essentially you will be able to answer “no” to their questions about a heart attack happening within the past 2 years, so you will be given coverage as though it never happened.

Within 12 – 24 Months

Select carriers will provide immediate protection if you fall into this timeframe since your heart attack. This slightly more expensive plan still provides no waiting period and is a great option.

Less Than 12 Months

Heart attacks within the past 12 months will be subject to a waiting period. The shortest and most common waiting period is two years from getting the policy for complete coverage.

Final Expense Insurance Quotes after a Heart Attack

The following quote estimates are for heart attack victims. Keep in mind prices are determined by age, health, policy amount, and tobacco use. The approximate cost for a $10,000 policy if it has been within 12 months since the heart attack is $34 – $312. If it has been over 24 months the cost will be $23 – $193, again this is based on age and gender. These rate estimates are for non-smokers.

Fill out the information on this page to get a more accurate and personalized quote.

How To Find The Best Burial Insurance After A Heart Attack

Each company has different health standards for heart conditions and other pre-existing conditions. Because of this, there are three things that people will want to look at before applying for funeral insurance after a heart attack.

Financially Reliable Company: Companies with good financial ratings will ensure they are still around to pay the claim when due. You can find a company’s financial rating through an easy internet search.

Affordability: Getting a policy you can afford well into the future is essential. The monthly premiums will never change; ensure the policy fits your current and projected budget.

Coverage Start Date: Depending on when your heart attack was and any other health concerns, getting funeral insurance with no waiting period is another top priority. While immediate protection is not always available, getting a plan with an optimal payout structure during this time is a top priority.

Companies to Look Into

The timing of your heart attack will determine which company is best. Mutual of Omaha, Aetna (CVS Health), and Guaranteed Trust Life are great companies that meet the three criteria above.

Mutual of Omaha burial insurance will be best for heart attacks over two years ago. Aetna (CVS Health) is best for heart attacks 12 – 24 months ago. Guarantee Trust Life will best serve heart attacks within the last 12 months.

How to Buy

There are many ways to purchase final expense insurance after a heart attack. However, the access to carriers will vary drastically depending on the route you take.

Directly from Company: Calling a carrier directly can create a problem with pre-existing conditions such as a recent heart attack or stroke due to the leniency of the specific insurance provider you contact. You could either be denied or put into an overpriced guaranteed acceptance plan. Either way, your options are limited.

Insurance Agency: You should always work with an insurance agency specializing in burial coverage with multiple carriers and plans to select from. This allows the agent to search prices and underwriting criteria on your behalf, saving you time and money.

Final Thoughts

a. Several final expense insurance companies offer coverage after heart attacks. The best life insurance provider will also vary depending on the applicant’s other health concerns.

b. The main component when determining coverage and costs is the length of time that has gone by since your heart attack.

c. Contact an insurance agency to help you find coverage to fit your budget and health conditions.