Whether you are in remission or still currently receiving treatments for Hepatitis, affordable final expense insurance is possible to get.
Several final expense insurance companies will accept you no matter your current stage of treatment.
Can You Get Final Expense Insurance With Hepatitis?
Seniors with hepatitis will qualify for final expense insurance coverage. Some companies will provide immediate coverage, while others will impose a waiting period. Working with a specialized agent who represents many insurance providers is the best way to find optimized coverage for people with hepatitis.
Final Expense Insurance Basics
This coverage is also referred to as funeral insurance and burial insurance. It was designed specifically with seniors in mind to assist them in affordably planning for their inevitable funeral expenses. Funeral insurance allows families to mourn and celebrate the life you lived rather than being burdened by the cost of laying you to rest.
Burial coverage is a type of whole life insurance that lasts throughout the policyholder’s life. The money is commonly used to cover end-of-life expenses. However, the burial insurance payout can cover anything needed.
Burial Whole Life Insurance Features:
- No Expiration
- Coverage Lock
- Price Lock
- Builds Cash Value
- No Medical Exam
Underwriting Funeral Insurance With Hepatitis
Burial insurance goes through a simplified issue underwriting process, which means it is simple to gain coverage compared to other products on the market. This is why you will never be asked to get a medical exam.
The underwriting process is when a company determines if it will accept your application for coverage. Insurance providers decide this by asking a series of health questions on the application and then verifying those answers with a medical background check.
Suppose a company does not ask about a particular condition on the application. In that case, they do not care if you have this condition, and it will not affect your ability to get coverage.
How do Funeral Insurance Companies Ask About Hepatitis?
There are five total types of Hepatitis, A, B, C, D, and E. As it pertains to final expense insurance, companies will ask about Hep A, B, C, or liver disease as a whole.
Almost all carriers ask about Hepatitis and will ask in 1 of 2 ways.
“Have you ever been diagnosed with hepatitis or another liver disease?”: By asking the question in this way, they want to know if you have even had this condition throughout your entire life.
“Have you been diagnosed with or treated for hepatitis or liver disease within the last 24 months?”: This is a very common way the question will be asked. Some companies may have a different timeline that they look into, but the minimum is usually 24 months, all the way up to 5 years.
After asking these questions, the final expense insurance companies will move forward with either a denial or approval of coverage.
4 Plan Types Hepatitis Patients Can Get
Level: Lowest cost with immediate coverage. This is available for seniors with hepatitis from limited companies.
Graded: Slightly higher costs & 2-year waiting period with a percentage of the policy paid out each year until the waiting period is over, at which point 100% will be paid upon the insured’s passing.
Modified: Highest costs & 2-year waiting period with a return of paid premiums +10% during this time
Guaranteed Issue: Higher premiums, acceptance with no questions asked, and a minimum waiting period of two years.
There is no need to get a guaranteed issue policy unless you have other severe medical concerns that would render you “uninsurable” by insurance standards.
With current Hepatitis treatment, you can get level coverage. However, some companies may only accept you under a graded or modified plan.
It is imperative that you work with the right final expense insurance company to obtain immediate coverage.
How To Find The Best Burial Insurance With Hepatitis
The best burial insurance companies with hepatitis vary depending on if you are in remission or have additional pre-existing conditions. Some outstanding providers to consider are listed below.
If you have another health concern, you need to discuss this with your agent as it could affect your ability to qualify.
There are three main topics to ask your insurance broker about.
Premiums: Always attempt to get the lowest cost possible. Obtaining the lowest price could mean that you can get more coverage.
Start of Coverage: Whenever possible, opt for immediate coverage. Most funeral insurance companies will offer coverage to people with hepatitis, but some will impose a waiting period. Avoid waiting periods as these plans will also cost more.
Company’s Financials: Only take out a life insurance policy with a financially stable provider. Check the company’s financial rating prior to applying.
How Do I Purchase Burial Insurance with Hepatitis?
There are two main ways to obtain burial insurance coverage, regardless of your health status.
Captive Agent: A captive agency can sell products from one company only. They are contractually unable to sell policies from any other company, even if what they represent isn’t the best option for you. This type of agent generally is contracted with a provider that has high brand awareness as they frequently market on television, billboards, and by mail.
Independent Agent: An independent agency can represent plans from multiple companies. This provides the client with options for a more tailored plan, often at lower monthly costs. These agencies can specialize in just one type of coverage or sell across multiple lines such as health, auto, and life.
Working with an agency will not increase the price you pay. In fact, it will most likely lower it. The low-cost policies that are available through these agencies are typically unavailable directly through the insurance company.
Final Thoughts On Final Expense Insurance With Hepatitis
a. It is possible to get affordable senior life insurance with hepatitis. Selecting the right plan from a wide array of funeral insurance companies is vital.
b. Certain companies offer immediate coverage which will lead to lower prices.
c. It is important that you work with an independent agent to find the best policy for your specific health and budget.