Sickle cell anemia can cause health issues for those with this blood disorder.
Finding a life insurance plan that approves applicants with sickle cell disease (SCD) can be confusing and time-consuming. This article will simplify the process and show you what burial insurance companies are looking for.
Can I Get Burial Insurance With Sickle Cell Anemia?
People with sickle cell anemia can get burial life insurance with no waiting period. Most final expense insurance providers will accept you. However, some companies will ask about sickle cell on the application and impose a waiting period or even deny your application altogether.
Final Expense Insurance Basics
Burial insurance, funeral insurance, and final expense all refer to the same type of whole life insurance coverage. These plans are geared towards seniors who only need a small coverage amount to pay for their funeral and other final expenses.
Most final expense insurance is offered to people 50 – 80, but some companies make it available to those younger and older.
Funeral Insurance Benefits
There are many advantages to having a funeral insurance policy, and it is effortless to get.
- No Medical Exam
- No Expiration
- No Price Increase
- Fixed Premiums
- Builds Cash Value
How Sickle Cell Affects Underwriting For Funeral Insurance
Many factors play into the underwriting of life insurance policies. The applicant’s medical history is a large part of this decision-making process.
Do Life Insurance Providers Care if you are a Sickle Cell Patient?
Some life insurance companies care if you have a sickle cell anemia diagnosis, and others do not. Each carrier sets its own underwriting criteria, so the results vary from one provider to the next.
If an application does not ask about a health concern or diagnosis, they do not care if you have it. With that said, what you are looking for is a company that does not ask about sickle cell.
How Final Expense Insurance Providers React to Sickle Cell Anemia
There are a few ways that insurance companies will ask about a sickle cell anemia diagnosis, and many will not ask at all. Regardless of how they ask the question, you will meet with one of the following decisions.
Accept with Immediate Coverage: This is the most common response for carriers that do not ask about sickle cell disease. If you have been diagnosed with SCD, you are looking for this type of company.
Accept with a Waiting Period: Companies that ask about sickle cell will often place you into a restrictive plan with higher premiums and a waiting period. Ideally, you would not have to endure a waiting period before being fully covered.
Deny: Some life insurance providers will deny sickle cell patients. Fortunately, this is the minority, as many companies will award coverage.
Related Illnesses that Could Affect Qualifying for Life Insurance
The following conditions could affect your life insurance application. If you have encountered health complications caused by sickle cell disease, please also consider these other conditions as they may affect coverage.
Finding The Best Final Expense Policy With Sickle Cell Anemia
There are countless companies to purchase life insurance from, but they are not all created equal. Qualifying standards and prices vary from one provider to the next. Look for the company’s financial strength, the policy cost, and the start of coverage.
Company Financials: Insurance companies are graded on their financial strength, including their ability to pay their debts and pay claims when filed. Work with only B+ companies or better to ensure they meet their financial obligations.
Monthly Premiums: Make sure you apply for a policy with the lowest price available to you based on your health.
Coverage Start Date: Whenever possible, get immediate coverage. If you cannot qualify based on your health, never wait more than two years to be fully protected.
Company Recommendations for SCD Patients
The following companies do not ask about sickle cell anemia on their application for immediate whole life insurance coverage. So these companies will be a good place to start your search.
All of these companies have excellent financial ratings and fair pricing structures.
How Much Does Funeral Insurance with Sickle Cell Cost?
The price fluctuates based on age, policy amount, gender, and health. If you have had any complications from sickle cell or have been recently hospitalized, you will pay more for coverage. If you have no other underlying conditions or complications, you will pay on the lower end of the price range below.
Final Expense Insurance with Sickle Cell
$10,000 of Coverage
|50||$26 – $39||$32 – $56|
|55||$31- $47||$37 – $61|
|60||$35 – $54||$45 – $68|
|65||$41 – 66||$55 – $91|
|70||$52 – $80||$71 – $106|
|75||$75 – $116||$103 – $150|
|80||$111 – $190||$147 – $206|
How to Buy Burial Insurance with Sickle Cell
Captive and independent agents go through the same process to get their life insurance licenses. However, the access to policies is very different.
Captive: This type of agent is contacted with one company and, as such, can only offer their clients policies from the provider they represent. Captive agents have limited options because they are tied to one insurance company.
Independent: This type of agent can contract with as many insurance providers as they want. Having more options is beneficial since final expense insurance ranges in underwriting and price point. Working with an independent agent saves time and money by relying on the expert.
Final Thoughts On Life Insurance With Sickle Cell
a. It is possible to get burial insurance with sickle cell anemia. However, applying with the right company is important.
b. Insurance providers like Foresters Financial, American Amicable, and Royal Neighbors of America do not ask about sickle cell disease.
c. It is essential that you work with an experienced life insurance agent with access to multiple providers.