2024 Burial Insurance for Myelodysplastic Syndrome
last updated on July 22, 2024Finding burial insurance for myelodysplastic syndrome (MDS) or bone marrow failure is possible. The nature of your myelodysplastic syndrome will ultimately decide what life insurance options are available to you and how much you will pay for coverage.
IMPORTANT: If you are CURRENTLY or in the last TWO YEARS been diagnosed or treated for myelodysplastic syndrome (MDS), the only plan you will qualify for is a guaranteed issue burial insurance with a 2-year waiting.
In this article, we’ll start by giving you the basic information you need to know about applying for insurance if you have ever been diagnosed with myelodysplastic syndrome.
FOR EASIER NAVIGATION:
- What Is My Best Insurance Option If I Have a History of Myelodysplastic Syndrome?
- What Types of Burial Insurance Should I Avoid?
- What Type of Burial Insurance Is Best?
- If I Have Myelodysplastic Syndrome, Do I Need a Medical Exam to Qualify for Burial Insurance?
- Burial Insurance Underwriting If You Have Myelodysplastic Syndrome
- How Much Insurance Do I Need If I Have Myelodysplastic Syndrome?
- How Should I Pay My Premiums?
- Myelodysplastic Syndrome and Burial Insurance Riders
- Information We Need if You Have Myelodysplastic Syndrome
- Benefits of Burial & Funeral Insurance
- Other Common Uses for Final Expense Life Insurance for Myelodysplastic Syndrome
- How Can Funeral Funds Help Me?
- Additional Questions & Answers On Burial Insurance For Myelodysplastic Syndrome
What Is My Best Insurance Option If I Have A History Of Myelodysplastic Syndrome?
MYELODYSPLASTIC SYNDROME HAS A 2 YEAR LOOKBACK PERIOD
Every burial insurance company has a two-year look-back period on MDS or blood cancer. You will not find an insurance company that asks about this condition within the last 12 months.
Many insurance companies would require you to be in complete remission for at least two years if you were diagnosed with myelodysplastic syndrome.
The longer you have been in remission for myelodysplastic syndrome, the more positive life insurance companies will consider your application.
Best Option: Guaranteed Issue Life Insurance
POLICY OPTIONS FOR MYELODYSPLASTIC SYNDROME
CANCER-FREE FOR 2 YEARS OR LONGER
If you’ve been cancer-free for more than two years, you will now qualify for level death benefit with no waiting period with most burial insurance companies, and you get to pick the best plan at the lowest rate.
Best Option: Level death benefit plan with first-day coverage
IF YOU ARE IN REMISSION FOR 2 YEARS
If you have been in remission or without symptoms for two years, you have better insurance options. You will now qualify for a level death benefit plan with first-day coverage. It is the best plan with the lowest rate.
Your death benefit is fixed and will remain the same throughout the policy. Your beneficiary will receive the full death benefit payout when you pass away for any reason.
Best Option: Level death benefit plan with first-day coverage
IF YOU ARE CURRENTLY TREATING YOUR MDS (LESS THAN 2 YEARS)
Unfortunately, anyone currently undergoing myelodysplastic syndrome treatment will not qualify for a first-day coverage plan until they have remission for a minimum of two years.
MDS Treatment options may include:
- Immunosuppressant treatment: this includes drugs to reduce the activity of the immune system, which allows the bone marrow to make blood cells.
- Supportive treatment: Options include blood transfusion, growth factor drugs, antibiotics, and drugs to get rid of excess iron
- Chemotherapy: For patients at a higher risk of developing acute myeloid leukemia.
- Bone marrow transplant.
If you are currently diagnosed with MDS or presently treating your condition with any of the above treatments, your best and lowest-cost option for insurance coverage is to apply for a guaranteed issue (GI) burial insurance policy.
A GI policy has no medical exam and no health questions. You will qualify for a guaranteed acceptance policy if you are 50 to 85. You will be approved without them inquiring about your current health.
Guaranteed issue burial insurance will pay 100% of your death benefit if you die in an accident. But you need to live for two years before they will pay for a natural cause of death.
If you die within the two-year waiting period, the company will only refund all your premiums plus 10% interest. After the two-year waiting period, you will be fully covered, and your beneficiaries will receive your full death benefit if you die for any reason.
Best Option: Guaranteed issue burial insurance
What Types Of Burial Insurance Should I Avoid?
| PLANS TO AVOID | WHY? |
|---|---|
| Term life | Premiums increase after 5 years. Coverage ends after 80. |
| Pre-paid funeral plans | Expensive |
| Universal life | Tied with stocks |
| No health questions policies | With 2-year waiting period |
| Plans offering "teaser rates" | $9.95 per unit plans or $1 buys $100,000 coverage |
| Over priced plans | Insurance from TV and junk mail |
| Plans that accept mail-in payments | Risky |
| Plans that accept Direct Express | High lapse rate |
| Plans that accept Credit Cards | High lapse rate |
What Type Of Burial Insurance Is Best?
| FUNERAL FUNDS PLAN BENEFITS | INCLUDED |
|---|---|
| 1st Day Coverage | YES |
| Rates NEVER Increase | YES |
| Coverage NEVER Decreases | YES |
| Easy to get approved | YES |
| No Medical Exam | YES |
| Same Day Approval | YES |
| Death Claims Pay Fast | YES |
| Builds cash value | YES |
| Coverage Up To Age 121 | YES |
If I Have Myelodysplastic Syndrome, Do I Need A Medical Exam To Qualify For Burial Insurance?
You are NOT required to take a medical exam to qualify for burial insurance with myelodysplastic syndrome.
When you apply for burial insurance, you only have to answer basic questions about your health. The application process is simple; you don’t need to provide medical records or blood and urine samples.
You’ll get official approval from the insurance company often within minutes!
Burial Insurance Underwriting If You Have Myelodysplastic Syndrome
Underwriting is the process used by life insurance providers to determine your level of risk.
The company will ask about your health and perform an electronic prescription history check to verify your answers to the health questions and validate your health condition. Every burial insurance company asks about MDS and cancer in different ways.
HEALTH QUESTIONS:
Here are the most common ways myelodysplastic syndromes or blood cancer will be asked in the health questionnaire:
- Do you currently have any type of cancer?
- Has a doctor advised you to have cancer treatment?
- In the last two years, have you been diagnosed with cancer or received chemotherapy or radiation therapy for cancer?
- Have you been treated for internal cancer in the previous two years?
Since myelodysplastic syndrome is a form of blood cancer, you will need to answer “yes” to the cancer question.
PRESCRIPTION HISTORY CHECK
Burial insurance with underwriting (health questions) also performs an electronic prescription history check to see what medications you take for myelodysplastic syndrome.
Here’s a list of drugs used to treat MDS:
- Filgrastim (Neupogen)
- Azacitidine (Vidaza)
- Decitabine (Dacogen)
- Cytarabine (Cytosar-U)
- Daunorubicin (Cerubidine)
- Idarubicin (Idamycin)
- Lenalidomide (Revlimid)
If you have filled any of these drugs within the last 24 months, burial insurance companies will assume that you are undergoing treatment for myelodysplastic syndrome or blood cancer.
WHY DO INSURANCE COMPANIES CARE IF YOU HAVE MYELODYSPLASTIC SYNDROME?
Myelodysplastic syndromes, or MDS, are also referred to as the “bone marrow failure disorder,” and it is classified as a type of cancer. Some MDS may develop into acute myeloid leukemia.
There are more than 13,000 people diagnosed with MDS every year. Most of them are aged 65 years or older. The median survival chance that MDS will transform into acute myeloid leukemia is five years. The outlook for people with MDS varies in each case. The typical survival period following diagnosis is four years.
Types of myelodysplastic syndromes insurance companies care about:
- Myelodysplastic syndrome with unilineage dysplasia
- Myelodysplastic syndrome with multilineage dysplasia
- Myelodysplastic syndrome with ring sideroblasts
- Myelodysplastic syndrome is associated with an isolated del chromosome abnormality
- Myelodysplastic syndrome with excess blasts — types 1 and 2
- Myelodysplastic syndrome, unclassifiable
Cancer is one medical condition that every life insurance company will ask about on their application. If you have any of these subtypes, insurance companies will consider you as a cancer patient.
How Much Insurance Do I Need If I Have Myelodysplastic Syndrome?
The amount of burial insurance you should buy varies depending on your personal and financial circumstances. However, burial insurance should cover the cost of your funeral, burial, and final expenses.
The first step to figuring out how much burial insurance you need is to know your end-of-life expenses. Your funeral cost is often the most significant single expense you need to pay. Other end-of-life expenses to consider are your outstanding medical bills, living expenses, credit card bills, and other debts.
Here’s an example of a funeral cost breakdown from the National Funeral Directors Association.
| AVERAGE FUNERAL COST WITH VIEWING AND BURIAL | |
|---|---|
| Non-declinable basic services | $2,300 |
| Removal/ transfer of remains to funeral home | $350 |
| Embalming & preparation of the body | $1,050 |
| Use of facilities for viewing & funeral ceremony | $965 |
| Hearse | $325 |
| Service car/van | $150 |
| Basic memorial printed package | $183 |
| Metal casket | $2,500 |
| Vault | $1,572 |
| Median Cost of a Funeral With Viewing and Burial | $9,420 |
| AVERAGE FUNERAL COST WITH VIEWING AND CREMATION | |
|---|---|
| Non-declinable basic services fee | $2,300 |
| Removal/ transfer of remains to funeral home | $350 |
| Embalming & preparation of the body | $1,050 |
| Use of facilities for viewing & funeral ceremony | $965 |
| Service car/van | $150 |
| Basic memorial printed package | $183 |
| Cremation fee (if firm uses a third-party crematory) | $368 |
| Cremation Casket | $1,310 |
| Urn | $295 |
| Median Cost of a Funeral with Viewing and Cremation | $6,970 |
| Rental Casket | $995 |
| Alternate Cremation Container | $150 |
How Should I Pay My Premiums?
The best way to pay your premium is through a savings or checking account. We recommend you set a bank draft from your savings or checking account. That way, the bank will automatically pay your premium each month, and you don’t need to worry about your policy lapsing due to non-payment.
Myelodysplastic Syndrome And Burial Insurance Riders
Insurance policy riders add benefits to your policy. Adding insurance riders will enhance your policy to fit your needs. Some riders are built into your policy, while others can be added at an additional cost. Most riders are affordable, and it involves little to no underwriting.
Here’s a list of common burial insurance riders:
| FUNERAL FUNDS ADD-ONS | AVAILABILITY |
|---|---|
| Terminal Illness Add-On Benefit | Included with most plans |
| Nursing Home Care Add-On Benefit | Included with most plans |
Information We Need If You Have Myelodysplastic Syndrome
Providing as much information about your health as possible when applying for burial insurance coverage with MDS is crucial. Not only will that information help us understand your health, but it will also help us give you an accurate quote.
We will ask you some health questions to better understand your condition.
These questions include:
- When were you diagnosed with Myelodysplastic syndrome?
- What MDS subtype do you have?
- What kind of treatment do you take?
- What medications are you taking for your condition?
- Are you in remission?
- How long have you been in remission?
- What other medical conditions do you have?
It is important to be completely honest in answering these questions. The more information you provide, the better your chances of finding affordable coverage.
Benefits Of Burial & Funeral Insurance
Here are some of the benefits of purchasing a burial or funeral policy:
- No medical exam or doctor’s visit is required – easy to get approved.
- Ease of issue – easy to qualify and get insurance coverage.
- No Money Down to get approved – have your policy start whenever you want.
- Level premium – your premium will never increase.
- Fixed death benefit – your death benefit will never decrease for any reason.
- Permanent protection – your policy can not be canceled by the life insurance company if you continue to pay your premiums.
- Tax-free – the death benefit is directly paid to your beneficiary tax-free upon your death.
- Cash value builds up – burial insurance is a whole life policy that builds cash value over time.
Other Common Uses For Final Expense Life Insurance For Myelodysplastic Syndrome
All of these examples are appropriate uses for Final Expense Life Insurance:
- Burial insurance plan for myelodysplastic syndrome
- Cremation insurance plan for myelodysplastic syndrome
- Funeral home insurance plan for myelodysplastic syndrome
- Final Expense insurance plan for myelodysplastic syndrome
- Prepaid funeral plan insurance for myelodysplastic syndrome
- Mortgage payment protection plan for myelodysplastic syndrome
- Mortgage payoff life insurance plan for myelodysplastic syndrome
- Deceased spouse’s income replacement plan for myelodysplastic syndrome
- Legacy insurance gift plan to family or loved ones for myelodysplastic syndrome
- Medical or doctor bill life insurance plan for myelodysplastic syndrome
We can help you with any of the plans above. Your pricing will depend on your age, health, and coverage amount for each program option.
How Can Funeral Funds Help Me?
Finding a policy if you have myelodysplastic syndrome or MDS needn’t be a frustrating process; working with an independent agency like Funeral Funds will make the process easier and quicker.
We will work with you every step to find the plan that fits your financial requirements and budget. You don’t have to waste your precious time searching for multiple insurance companies because we will do the work for you.
We work with many A+ rated insurance carriers that specialize in covering high-risk clients like you. We will search all those companies and match you up with the best burial insurance company that gives the best rate.
We will assist you in securing the coverage you need at a rate you can afford so if you are looking for myelodysplastic syndrome funeral insurance, myelodysplastic syndrome burial insurance, or myelodysplastic syndrome life insurance. Fill out our quote form on this page or call us at (888) 862-9456, and we can give you an accurate quote.
Additional Questions & Answers On Burial Insurance For Myelodysplastic Syndrome
Can you get life insurance if you have myelodysplastic syndrome?
Yes, you can get life insurance if you have myelodysplastic syndrome. You may even qualify for a first-day coverage plan if you’ve been cancer-free for two years or longer.
Do I need to take a medical exam if I have myelodysplastic syndrome?
No, you don’t need to take a medical exam if you have a myelodysplastic syndrome. You can apply for coverage online and get an answer within minutes.
What do I need to know about myelodysplastic syndrome before I apply for life insurance?
Before you apply for life insurance, it’s important to know that myelodysplastic syndrome is a type of cancer that affects the bone marrow. Symptoms can include fatigue, shortness of breath, and easy bruising or bleeding. Treatment options are available, but there is no cure for the disease.
Is there an age limit for burial insurance with myelodysplastic syndrome?
Most life insurance companies accept applicants who are 18-85 years old.
What are my chances of getting life insurance if I have myelodysplastic syndrome?
The chances of getting life insurance if you have myelodysplastic syndrome are good. You may even qualify for a first-day coverage plan if you’ve been cancer-free for two years or longer.
Is myelodysplastic syndrome a pre-existing condition for life insurance?
Yes, the myelodysplastic syndrome is a pre-existing condition for life insurance. However, you may still be able to get coverage if you’ve been cancer-free for two years or longer.
What is the waiting period for life insurance with myelodysplastic syndrome?
The waiting period for life insurance with the current myelodysplastic syndrome is two years. This means that you must be cancer-free for at least two years before qualifying for first-day coverage.
Do I need to tell insurance about myelodysplastic syndrome?
Yes, you need to tell the insurance company about your myelodysplastic syndrome.
Can a person with myelodysplastic syndrome get burial insurance?
Yes, a person with the myelodysplastic syndrome can get burial insurance. You may even qualify for a first-day coverage plan if you’ve been cancer-free for two years or longer.
Can myelodysplastic syndrome be considered a critical illness in life insurance?
No, the myelodysplastic syndrome cannot be considered a critical illness in life insurance.
What are the requirements for burial insurance with myelodysplastic syndrome?
The requirements for burial insurance with myelodysplastic syndrome are that you must be cancer-free for at least two years.
Is myelodysplastic syndrome considered a terminal illness?
Yes, the myelodysplastic syndrome is a form of cancer and is considered a terminal illness.
Can you get first-day coverage insurance if you have myelodysplastic syndrome?
Yes, you can get first-day coverage insurance if you have myelodysplastic syndrome. You can easily qualify for this plan if you’ve been cancer-free for two years or longer.
What are the things that may affect my eligibility if I have myelodysplastic syndrome?
The severity of your condition, treatment, and how long you’ve been cancer-free may affect your eligibility if you have myelodysplastic syndrome.
What are the benefits of having life insurance if you have a myelodysplastic syndrome?
Life insurance benefits if you have myelodysplastic syndrome are that it can help your loved ones cover expenses after your death. This can include funeral costs, medical bills, and other debts.
What is the life expectancy after myelodysplastic syndrome?
The life expectancy after myelodysplastic syndrome is about five years. However, this can vary depending on the severity of your condition and treatment.
Which insurance is best for patients with myelodysplastic syndrome?
There is no one best insurance for patients with myelodysplastic syndrome. Life insurance companies will evaluate each applicant on a case-by-case basis.
Is myelodysplastic syndrome disease a disability?
No, the myelodysplastic syndrome is not a disability.
Can I qualify for cremation insurance with a history of myelodysplastic syndrome?
Yes, you can qualify for cremation insurance with a history of myelodysplastic syndrome. You may even qualify for a first-day coverage plan if you’ve been cancer-free for two years or longer.
How do you get life insurance after a myelodysplastic syndrome diagnosis?
You can get life insurance after a myelodysplastic syndrome diagnosis by contacting a life insurance agent from Funeral Funds and completing an application.
Is myelodysplastic syndrome fatal in life insurance?
Yes, the myelodysplastic syndrome is a form of cancer and is considered fatal in life insurance.
Can you be denied insurance for myelodysplastic syndrome?
Yes, you can be denied insurance for myelodysplastic syndrome. Life insurance companies will evaluate each applicant on a case-by-case basis. Some life insurance companies will deny you first-day coverage if you have a recent diagnosis and treatment.
Is there a waiting period for life insurance with myelodysplastic syndrome?
The waiting period for life insurance with a current myelodysplastic syndrome diagnosis is usually two years. However, this can vary depending on the severity of your condition and treatment.
Is myelodysplastic syndrome curable in life insurance?
Myelodysplastic syndrome is not always curable, which may affect your life insurance eligibility.
What is the treatment for myelodysplastic syndrome in life insurance?
The treatment for myelodysplastic syndrome in life insurance is usually chemotherapy, immunosuppressant treatment, supportive treatment, and bone marrow transplant.
What is my best insurance option if I have myelodysplastic syndrome?
The best insurance option if you have myelodysplastic syndrome is to contact a life insurance agent from Funeral Funds who can recommend the best plan based on your individual situation.
Can myelodysplastic syndrome affect your life insurance rates?
Yes, myelodysplastic syndrome can affect your life insurance rates. If your diagnosis and treatment are very recent, you will only qualify for guaranteed acceptance life insurance which is more expensive.
Can myelodysplastic syndrome medication affect my premium?
Yes, cancer medication may affect your life insurance premium. If you’re taking medication for myelodysplastic syndrome, your life insurance rates will be higher than if you weren’t taking any medication.
What is the survival rate of myelodysplastic syndrome?
The survival rate of myelodysplastic syndrome is about five years. However, this can vary depending on the severity of your condition and treatment.
What are the premiums for burial insurance with myelodysplastic syndrome?
The premiums for burial insurance with the myelodysplastic syndrome will be higher than for a standard policy because the myelodysplastic syndrome is a form of cancer.
What is the average cost of life insurance for someone with myelodysplastic syndrome?
The average cost of life insurance for someone with myelodysplastic syndrome varies depending on your age, gender, location, and the coverage amount.
Can myelodysplastic syndrome patients get final expense insurance?
Yes, myelodysplastic syndrome patients can get final expense insurance. Funeral Funds offers affordable final expense insurance for people with myelodysplastic syndrome.
Is myelodysplastic syndrome covered by a critical illness rider?
No, myelodysplastic syndrome is not covered by a critical illness rider.
Can myelodysplastic syndrome affect life insurance?
Yes, myelodysplastic syndrome can affect life insurance. If you have a recent diagnosis and treatment, you will only qualify for guaranteed acceptance life insurance, which can be more expensive.
Can you be rejected for life insurance because of myelodysplastic syndrome?
Yes, you can be denied life insurance for myelodysplastic syndrome. Life insurance companies will evaluate each applicant on a case-by-case basis. Some life insurance companies will deny you first-day coverage if you have a recent diagnosis or medical treatment.
How can you get the best life insurance rates with myelodysplastic syndrome?
The best way to get the best life insurance rates with myelodysplastic syndrome is to compare quotes from different life insurance companies.
What is the best insurance option for people with myelodysplastic syndrome?
The best insurance option for people with myelodysplastic syndrome is to contact a life insurance agent from Funeral Funds who can recommend the best plan based on your individual situation.
What are the best life insurance companies for myelodysplastic syndrome?
The best life insurance companies for myelodysplastic syndrome are the ones that are willing to provide coverage based on your current medical condition and diagnosis.
What are some tips for getting life insurance with myelodysplastic syndrome?
Some tips for getting life insurance with myelodysplastic syndrome are contacting a life insurance agent from Funeral Funds who can recommend the best plan based on your situation.
