5 Ways to Get Burial Insurance with First-Day Coverage

5-Ways-to-Get-Burial-Insurance-with-First-Day-Coverage

Are you looking for burial insurance with first-day coverage? For some people looking for life insurance that starts immediately can be challenging.

The good news is getting people qualified for burial insurance with first-day coverage is our specialty!

This article will show you the five ways to get burial insurance with first-day coverage.

FOR EASIER NAVIGATION:


5 WAYS TO GET BURIAL INSURANCE WITH FIRST-DAY COVERAGE


#1 ANSWER THE HEALTH QUESTIONS

The number one way to get burial insurance with first-day coverage is to answer health questions. Simplified issue life insurance that asks health questions offers first-day coverage.

You don’t need to undergo a medical exam, but you will have to answer the health questions. Asking health questions is the insurance companies’ way of gauging your risk. It is important to be honest about your health condition. Lying on an insurance application constitutes fraud. Insurance fraud is a serious crime, and it may cause the insurance company to deny the beneficiary of your death benefits.

You can qualify for first-day coverage and save on your monthly premium by answering the health questions.

Most insurance companies are lenient on underwriting, and many health issues are considered for first-day coverage. However, some health issues are such a high risk that the insurance companies don’t want to take the risk of offering first-day coverage.

The following health issues are accepted for 1st-day coverage or benefits with most policies:

  • Arthritis
  • Aneurisms
  • Asthma
  • Bipolar
  • Blood clots
  • Bronchitis
  • Cancer in the past
  • COPD with some companies
  • Diabetes & diabetic medications like Metformin, Insulin, and others
  • Diabetic neuropathy
  • Gout
  • Heart defibrillator or pacemaker
  • High Blood Pressure & HBP medications
  • Pain medications
  • Schizophrenia
  • Seizures
  • Surgeries
  • Ulcerative colitis
  • Urinary issues

The following health issues may result in a waiting period:

  • AIDS, ARC, or HIV
  • Alzheimer’s disease
  • Angina within the last 12 months
  • Recent cancer and cancer treatment
  • Confined to hospital, hospice care, or nursing home
  • Diabetic coma within the last 24 months
  • Heart attack within the previous 24 months
  • Heart or circulatory surgery within the last 24 months
  • Oxygen Use except for sleep apnea
  • Organ transplant or been advised to receive an organ transplant
  • Renal failure, dialysis
  • Terminal illness

If you have some health issues, the best way to get life insurance with first-day coverage is to find an insurance company that never asks about your health issue. Unfortunately, you can’t do it on your own.

You need to speak to an independent insurance agent who is knowledgeable in insurance underwriting. Your agent will ask about your health information to determine the company that is accepting of multiple health conditions and will give you first-day coverage.


#2 AVOID INSURANCE COMPANIES OFFERING BURIAL INSURANCE ON TV

The number two way to get burial insurance with first-day coverage is to avoid insurance companies that offer burial insurance on TV.

Most insurance companies that have insurance commercials on television typically offer insurance that comes with a two-year waiting period.

To guarantee insurance coverage for everybody regardless of their health conditions, these companies with television commercials offer guaranteed issue life insurance with a two-year waiting period.

Guaranteed issue life insurance only offers first-day coverage for accidental death. However, it does not cover the natural causes of death for the first two years. You must live for the first two years before your beneficiary will receive the full death benefit.


#3 AVOID JUNK MAIL BURIAL INSURANCE

The number three way to get burial insurance with first-day coverage is to avoid junk mail burial insurance.

Junk mail burial insurance doesn’t require a licensed agent and asks no health questions. No wonder these policies are 30% to 367% higher than burial insurance that asks health questions and offers first-day coverage.

Burial insurance companies that advertise through the mail never ask health questions, and when an insurance company never asks health questions, it means they only sell guaranteed issue life insurance with a two-year waiting period.

If you want to get first-day coverage on life insurance, avoid burial insurance in the mail. Always go for life insurance that asks health questions. By simply answering health questions, you will be able to qualify for first-day coverage. You also won’t be paying extra money for higher premiums.


#4 NEVER SETTLE FOR 2-YEAR WAITING PERIOD IF YOU CAN QUALIFY FOR FIRST-DAY COVERAGE

Always request first-day coverage insurance from your life insurance agent. Even if you have some health issues, do not settle for a two-year waiting period if you can qualify for first-day coverage.

The television and junk mail life insurance advertisers often prey on uninformed seniors. They make people believe that the two-year waiting period is a standard part of burial insurance. I’m here to tell you that nothing can be further from the truth.

Every life insurance company has different underwriting criteria. Some health issues will be declined by one, while others will accept it. The secret to getting first-day coverage then is knowing which life insurance company will accept your health issues, which leads us to the next tip.


#5 WORK WITH AN INDEPENDENT LIFE INSURANCE AGENCY

The number five way to get burial insurance with first-day coverage is to work with an independent life insurance agency like Funeral Funds. My agents and I can help you secure senior life insurance with first-day coverage and better pricing.

We work with a large selection of A-rated insurance companies. This gives us the best chance of finding you a company that is accepting of all your health issues. If there is a life insurance company that will cover you with first-day coverage, we will find it for you.

Working with an independent life insurance agency, such as Funeral Funds, is always in your best interest. With access to companies that offer first-day coverage, we will help you find the best company, given your current age, health, and financial situation.


THE BEST WAY TO GET FIRST-DAY COVERAGE LIFE INSURANCE

The best way to get first-day coverage in life insurance is to buy a life insurance policy when you are young. The younger you are, the healthier you are likely to be, and the more you are able to qualify for life insurance with first-day coverage.

Buy life insurance now. Do not wait until you have chronic illness before buying life insurance. Having chronic or terminal illness may disqualify you from getting first-day coverage life insurance.

Don’t forget to work with an independent insurance broker like Funeral Funds. My agents and I can let you know which companies will offer you first-day coverage life insurance.

I will get you the best insurance rates and show you the advantages of each policy. I will walk you through the whole application process to help you decide which policy works best for your particular situation.


WHAT ARE THE DIFFERENT INSURANCE BENEFIT PERIODS?

1. NO WAITING PERIOD

This is the best burial insurance option, as it gives immediate coverage with a 100% benefit payout from day one. If you qualify for burial insurance with no waiting period, your beneficiary will receive the full death benefit even after making only one payment on your policy.

The good news is many people qualify for burial insurance with first-day coverage no waiting period even when they have some health issues.


2. PARTIAL WAITING PERIOD

Burial insurance with a partial waiting period offers immediate coverage but with a phase-in benefit schedule. This plan is also called a graded benefit.

The graded benefit plan works this way:

The insurance company will pay 30-50% of the coverage amount if you die during the first year. If you die during the 13-24th months, your beneficiary will receive 60-70% of the coverage amount. After 24 months, they will pay 100% death benefit to your beneficiary.

There are some health issues where a partial waiting period is your best option for insurance coverage.

These health issues may result in a partial waiting period or graded plan:

  • Amputation due to diabetics
  • Cancer within the last 24 months
  • Congestive heart failure
  • Treatment for alcohol or drug abuse


3. TWO-YEAR WAITING PERIOD (Guaranteed issue life insurance)

Guaranteed issue life insurance offers immediate coverage for the accidental cause of death. However, it has a two-year waiting period for death’s health-related or natural cause.

If you die during the two-year waiting period, your beneficiary will only receive a return of premium plus 7-10% interest.

The insurance carrier will not ask health questions with the guaranteed issue life insurance. Your application is guaranteed to be approved regardless of your health condition.

If you have been diagnosed with a chronic illness, terminal illness, or you are in poor health. This plan may be your only option for coverage.


BENEFITS OF HAVING FIRST-DAY COVERAGE INSURANCE

  • Full coverage starts upon the first payment – you will be fully covered after your first payment. Your beneficiary will receive 100% of your coverage amount, whether you die in an accident or due to health problems.
  • The Premium amount will never increase for any reason – your monthly premium will remain the same trough the life of the policy. It will never increase due to worsening health conditions or your age because you lock the price at the age you bought the policy.
  • The death benefit never decreases – your death benefit is level and guaranteed never to decrease. Your beneficiary will receive the full amount when you pass away.
  • You can never outlive your policy with lifetime coverage – whole life insurance will never terminate or end. You have covered your whole life or until age 121. You will never outlive your policy.
  • The policy cannot be canceled except for non-payment – whole life insurance cannot be canceled due to age. It will stay in force as long as you keep paying the premium.
  • It has a cash value component that grows over time – whole life insurance with first-day coverage comes with an investment component. Your cash value grows over time. You can withdraw from it or file a policy loan if you need funds.

ADDITIONAL QUESTIONS & ANSWERS ON 5 WAYS TO GET BURIAL INSURANCE WITH FIRST-DAY COVERAGE

How long does it take for coverage to start?

Most life insurance policies start after you pay the first premium.


What is a policy start date?

A policy start date is a date on which your coverage begins. This is usually the date you sign the policy and pay the first premium.


What is first-day coverage?

First-day coverage means that your life insurance policy will cover you from the moment it goes into effect. This type of coverage is important.


What are the benefits of first-day coverage insurance?

  1. First-day coverage ensures that you are covered from the moment your policy goes into effect.
  2. This type of coverage is important if you have a pre-existing medical condition or if you are a high-risk individual.
  3. First-day coverage can also be beneficial if you need to file a claim soon after your policy goes into effect.
  4. First-day coverage has lower pricing than traditional life insurance policies.
  5. First-day coverage is available from many different insurers at Funeral Funds.


Can you get the insurance that starts immediately?

The best way to get the insurance that starts immediately is to purchase a policy with first-day coverage. First-day coverage is available from many different insurers from Funeral Funds.


Can you get first-day coverage insurance without a medical exam?

Yes, you can get first-day coverage insurance without a medical exam. Many insurers that offer this type of coverage do not require a medical exam.


What is the downside of first-day coverage insurance?

To qualify for the lowest rates, you must answer some basic health questions.


How do I get first-day coverage insurance?

The best way to get first-day coverage insurance is to work with a qualified insurance agent. An insurance agent can help you shop for the best policy and ensure that you get the coverage you need.


When should I purchase first-day coverage insurance?

You should purchase first-day coverage insurance when you are younger and healthier. This will allow you to more easily qualify for a first-day coverage plan with the lowest pricing.


What is the best way to get first-day coverage insurance?

The best way to get first-day coverage insurance is to work with a qualified insurance agent. An insurance agent at Funeral Funds can help you shop for the best policy and ensure that you get the coverage you need.


Can you get first-day coverage insurance if you have a pre-existing condition?

Yes, you can get first-day coverage insurance if you have a pre-existing condition. Many insurers that offer this type of coverage do not require a medical exam.


How can you get burial insurance with first-day coverage?

The best way to get burial insurance with first-day coverage is to choose a policy that asks health questions. Insurance companies that ask health questions often offer first-day coverage insurance.


What are the benefits of no waiting period coverage insurance?

  • You are covered from the moment your policy goes into effect.
  • This type of coverage is important if you have a pre-existing medical condition or if you are a high-risk individual.
  • First-day coverage can also be beneficial if you need to file a claim soon after your policy goes into effect.
  • First-day coverage is often less expensive than traditional life insurance policies.
  • First-day coverage is available from many different insurers.


What is meant by the waiting period?

A waiting period is the amount of time required before a new life insurance policy pays out the death benefit. The waiting period is generally two years.


What is the difference between a waiting period and a grace period?

A waiting period is the amount of time required before a new life insurance policy pays out the death benefit. A grace period is a set amount of time (usually 30 days) during which you can make late payments on your policy without having your coverage lapse.


Why do insurance companies have waiting periods?

Waiting periods prevent people with terminal illnesses from applying for immediate first-day coverage. This is why it’s important not to wait too long to get this kind of insurance.


What is the pre-existing waiting period?

A pre-existing waiting period is the amount of time required before a new life insurance policy pays out the death benefit if the policyholder has a pre-existing medical condition.


Do all life insurance policies have a waiting period?

No, not all life insurance policies have a waiting period. Some life insurance policies, such as first-day coverage life insurance, do not have a waiting period.


What is a 2 year waiting period for life insurance?

A 2 year waiting period for life insurance is the amount of time required before a new life insurance policy pays out the death benefit. The waiting period is generally two years for guaranteed issue only life insurance policies (which we do not recommend purchasing in most cases).


What is the effective date of an insurance policy?

The effective date of an insurance policy is the date on which coverage begins.


How fast does insurance kick in?

The effective date of your insurance will depend on the type of policy you purchased.


How do you get around a waiting period for insurance?

The best way to prevent a waiting period is to buy life insurance when you are younger and healthier. This way, you will not have to worry about a pre-existing condition or any other health issues that could cause a waiting period.


Does AIG life insurance have a waiting period?

Yes, AIG has a two-year waiting period because they only sell guaranteed issue life insurance.


What are the risks of having a waiting period in insurance?

The main risk of having a waiting period is that you may die during the waiting period, and your beneficiaries will not receive any death benefits.


How soon does life insurance take effect?

The effective date of your insurance will depend on the type of policy you purchased.


Why do you need to answer health questions to get first-day coverage?

The best way to get burial insurance with first-day coverage is to choose a policy that asks health questions. Insurance companies that ask health questions offer first-day coverage insurance.


What type of insurance do most companies advertise on TV?

The most popular type of insurance advertised on TV is a guaranteed issue life insurance that never asks health questions and has a two-year waiting period. We do not recommend these types of plans.

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