Burial Insurance With Insulin Shock

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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Insulin shock is a very serious situation that needs to be addressed as soon as possible.

Once someone is diagnosed with diabetes, you must keep it under control. If not, insulin shock is a very real possibility.

You may be wondering if qualifying for funeral insurance after insulin shock is possible.

Can I Get Burial Insurance With Insulin Shock

It is possible to obtain immediate life insurance for diabetics with this diagnosis as long as you also meet the carrier’s other health requirements.

Several insurance companies will not accept applicants who have been diagnosed with hypoglycemia insulin shock. Fortunately, there are still some that do, but there could be a two-year waiting period.

The beauty of these funeral insurance plans is that they last for the entire life of the insured. You will never have to worry about outliving the policy. This is what will give you and your loved one’s peace of mind knowing that the money will be there when needed.

Burial insurance coverage was built for seniors 50 – 85 who need a small whole life insurance policy to cover their cremation and burial expenses. Policy amounts range from $2,000 to $50,000; however, each company has its own guidelines on age, coverage amount, and health.

Whole Life Insurance Features

No Expiration & Coverage Lock: These policies are permanent and never fluctuate in coverage. The death benefit amount will remain the same for the insured’s entire life. The coverage will remain in place until death as long as the premiums are paid.

Price Lock: The cost of coverage will never change. The price you pay for the initial premium will stay the same through the last premium paid. This is invaluable for budgeting purposes.

Builds Cash Value: A small portion of each payment made will go into the cash value account. Over time this account will grow and allow the opportunity to withdraw from it in the form of a low-interest loan.

Benefits of Insurance for Burial

Affordability: Since funeral insurance policies come in smaller death benefit amounts, it lowers the premiums due. Traditional whole life policies start around $50,000 and extend into the millions, making the payments much higher.

No Medical Exam: This coverage is known as simplified issue whole life insurance. Applicants will never be asked to get a medical exam because it goes through a simplified underwriting process. Seniors can get this plan completely over the phone with fast approval.

No Denial: There are four types of final expense insurance coverage. Each type is intended for the varying health of applicants, with plans that are ideal for everybody. Depending on health, there could be a waiting period before receiving full financial protection.

Plan Tiers

Level: Offering the lowest prices, level coverage also is the only option with full immediate protection. This is available from a few select companies following insulin shock.

Graded: This plan has partial coverage upon acceptance with a progressive death benefit during the first 2 years. Full protection is accessible after this waiting period is over.

Modified: A 2-year waiting period comes with modified plans. If the insured dies during this time, the beneficiary will get the paid premiums +10% interest as the death benefit. These plans are usually the most expensive and commonly what insulin shock patients are accepted for most often.

Guaranteed Issue: Also known as guaranteed acceptance, this plan asks no health questions to be considered for acceptance. These plans should be reserved for chronically or terminally ill seniors. However, some guaranteed issue plans can provide better prices and benefits than modified options.

Hypoglycemia written in book next to stethoscope

Underwriting: How Does Insulin Shock Affect Burial Insurance?

Once someone goes into insulin shock, the complications can be severe and life-threatening.

Diabetic coma, brain damage, and death are the main complications experienced if not treated promptly. This is of great importance to the insurance provider as they are insuring your life.

The main thing that the carriers want to see is that you have your diabetes under control, especially insulin users. Having been diagnosed with hypoglycemia insulin shock is an indicator that it is not under control.

The more complications you have with your diabetes, the harder it will be to obtain coverage. Diabetic coma and insulin shock are usually asked about in the same question on a funeral insurance application.

Timeline of Insulin Shock

When you last experienced insulin shock will matter to most companies and could affect the policy you are eligible for. Many funeral life insurance companies will ask about insulin shock that happened in the last 2 years.

It will open the door to more coverage options if it has been over two years since you experienced hypoglycemia.

Based upon your answers to the application questions, the carrier will react in one of three ways.

Ways Insurance Companies React to Insulin Shock

Immediate Coverage: Select carriers will not specifically ask about insulin shock and will essentially treat you as though you never had this diabetic complication. Acceptance will also depend on how they ask about your diabetes management.

Immediate Coverage & Higher Prices: Depending on how the company sets its underwriting, you may be awarded no waiting period but higher monthly prices. This is also only offered by a few life insurance companies.

Acceptance with a Waiting Period: The most common acceptance is with a waiting period of two years and higher premiums. This is done through acceptance with a graded, modified, or guaranteed issue plan.

Related Pre-Existing Concerns that Could Affect Acceptance

Hypoglycemia insulin shock is caused by too little sugar in the blood or too much insulin. The people who are the most vulnerable to this emergency condition are those previously diagnosed with:

  • Diabetes
  • Kidney disease
  • Hyperinsulinism

If you have diabetes or kidney disease, these will affect your ability to qualify for final expense insurance with insulin shock. Other diabetic complications can also cause concern with most companies, including diabetic neuropathy, diabetic amputation, and diabetic coma.

Carriers will not ask about blood sugar levels.

chalk board being held by doctor no exam

How To Find The Best Final Expense Insurance Coverage With Insulin Shock

Some of the best life insurance companies accept certain pre-existing health concerns that others do not. This is the case with many major health conditions.

It is important to understand that if a company does not ask about a specific condition on their application for coverage, they do not care if you have it and will award coverage. Foresters Financial is one of the companies that does not ask about insulin shock.

There are three main things to look for in a company when getting burial insurance with insulin shock or any other pre-existing condition.

Price: Getting a policy that you can afford is vital. If you do not pay your premiums, the policy will lapse, leaving your family financially unprotected to cover funeral costs. Make sure you can afford the plan well into the future.

Insurance Provider: Taking burial insurance coverage out with a financially strong provider is important. Working with a carrier with a solid financial rating will ensure the company will be in business for many years to come and will be able to pay your claim when the time comes.

Begining of Coverage: While this is not always possible, getting coverage that starts as soon as possible is most desirable. Obtaining funeral expense protection with no waiting period will be less costly and give instant peace of mind.

Captive vs. Independent Agents

There are two types of agents to purchase coverage from, captive and independent.

Captive: This is an agency that can only sell products from one specific company. These agents are tied to a single company and do not have as many options available to present to their clients.

Independent: An independent agency offers several plans from multiple companies. This allows independent agencies to shop around on your behalf to find a product that meets your specific needs.

Final Thoughts

a. Getting life insurance for seniors with diabetic complications like insulin shock is possible and affordable.

b. The best carriers for funeral insurance with insulin shock depend on your other pre-existing conditions and how they are treated. The timing of when you last experienced insulin shock also plays a large role.

c. Working with an independent agency will provide you with the best opportunity for immediate burial insurance coverage.