Burial Insurance with ALS – Lou Gehrig’s Disease

Burial insurance with ALS (Amyotrophic Lateral Sclerosis) or Lou Gehrig’s disease is possible, but having this condition certainly narrows your funeral and burial insurance options.

You can get a policy when you have ALS, but what you must know is that no life insurance carrier will offer you coverage that protects you during the first 24 months (they do cover accidental death from the first day).

If you or a family member has been diagnosed with ALS or Lou Gehrig’s disease and would like more information about burial insurance, keep reading this article.

FOR EASIER NAVIGATION:


WHAT IS MY BEST INSURANCE OPTION IF I HAVE A HISTORY OF ALS?

There are two types of ALS the insurance companies care about:

  1. Sporadic
  2. Familial

If you have ALS or Lou Gehrig’s disease, then a guaranteed issue life insurance policy that asks no health questions is your best option.

Guaranteed issue policies don’t ask you about your medical history or current health. The insurance company will automatically approve your application, and the policy will take effect within a day.

You can qualify for a guaranteed final expense insurance policy if you are between the age of 40 and 85. You are a U.S citizen, and you live in a state where guaranteed issue policies are sold.

Guaranteed issue burial insurance has a 24-month graded period, but if you pass away in the first two years as a consequence of your ALS, your beneficiary will receive your premiums plus 10% interest.

Your beneficiaries will also receive a full death benefit if you die from an accident or other catastrophic events in the first 24 months.

Best Option: Guaranteed issue burial insurance


BENEFITS OF GUARANTEED ISSUE POLICIES

  1. Easy to obtain. It is very easy to qualify and get coverage. You don’t need to take a medical exam or answer questions regarding your health. You will be automatically approved if you meet the age requirements and policy is available in your state.
  2. The death benefit is fixed. The amount of your death benefit is guaranteed never to decrease. Your beneficiaries will receive the exact amount of your policy when you pass away.
  3. Fixed monthly premiums. Your monthly insurance bill is fixed and will never go up. The rate is computed at your current age, and it will never increase regardless of your age or medical condition.
  4. The benefit is tax-free. Your death benefit will be paid directly to your beneficiaries tax-free when you pass away.
  5. Your policy will never expire. A guaranteed issue is a whole life policy that will last your whole life. It will never expire as long as monthly premiums are paid on time.
  6. Your policy is not cancelable. Your policy cannot be canceled by the life insurance company as long as you pay your premium.
  7. Cash value accumulation. Guaranteed issue life insurance has a cash value component. The cash value can accumulate over time.
  8. You can choose a minimal amount of coverage. The death benefit for guaranteed acceptance policy ranges from $1,000 to $25,000.


DISADVANTAGES OF GUARANTEED ISSUE LIFE INSURANCE

There are three major disadvantages of guaranteed issue life insurance that you should be aware of:

  1. Guaranteed issue policies have a minimal amount of coverage. These policies only offer a maximum of $25,000 in coverage. If you want to cover lost wages or your mortgage balance in the event of premature death, guaranteed issue policies are not going to be a great option.
  2. Guaranteed issue policies are more expensive than traditional term or whole life policies. The burial insurance companies will charge you more because they take more risk to insure you without knowing your medical condition. If you’re planning to buy several guaranteed issue policies from different companies to get higher coverage than $25,000, you can do it, but you need to be aware that it is going to be really expensive.
  3. Guaranteed issue life insurance has a mandatory two-year waiting period. There is no full coverage for the first two years. If you die by the onset of ALS, this plan will not payout. Your beneficiary will only receive the return of premium plus some interest. Once the two years had passed, even if it’s a day after, your beneficiary will be fully paid out the amount of your full coverage.


WHY DO YOU NEED TO GET GUARANTEED ISSUE LIFE INSURANCE IF YOU HAVE ALS?

There is no known cure for ALS or Lou Gehrig’s disease, and there is no effective treatment discovered to stop or reverse the progression of this condition. The life expectancy of people with ALS is two to five years.

For a patient with ALS who is confronted with the reality of death, buying burial insurance is a must. The sooner you get covered, the better because of the two-year waiting period. The sooner you work on the waiting period, the sooner you will have full coverage.

If you just received a recent diagnosis, there is a good chance that you will outlive the two-year limitation if you start now. Additionally, your monthly premium is computed based on your current age. You will save on premium if you apply NOW!


WHAT TYPES OF BURIAL INSURANCE SHOULD I AVOID?

PLANS TO AVOIDWHY?
Term lifePremiums increase after 5 years. Coverage ends after 80.
Pre-paid funeral plansExpensive
Universal lifeTied with stocks
No health questions policiesWith 2-year waiting period
Plans offering "teaser rates"$9.95 per unit plans or $1 buys $100,000 coverage
Over priced plansInsurance from TV and junk mail
Plans that accept mail-in paymentsRisky
Plans that accept Direct ExpressHigh lapse rate
Plans that accept Credit CardsHigh lapse rate


WHAT TYPE OF BURIAL INSURANCE IS BEST?

FUNERAL FUNDS PLAN BENEFITSINCLUDED
1st Day CoverageYES
Rates NEVER IncreaseYES
Coverage NEVER DecreasesYES
Easy to get approvedYES
No Medical ExamYES
Same Day ApprovalYES
Death Claims Pay FastYES
Builds cash valueYES
Coverage Up To Age 121 YES


IF I HAVE ALS, 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 ALS.

When you apply for burial insurance, you only have to answer some basic questions about your health. The application process is simple, and you don’t need to provide medical records or blood and urine samples.

You’ll get the official approval from the insurance company often within minutes!


BURIAL INSURANCE UNDERWRITING IF YOU HAVE ALS

Burial insurance companies have two ways of underwriting:

FIRST – They may ask you a series of health questions. Your answers to their questions will determine your eligibility.

SECOND – They will electronically review your prescription history to verify your health.


HEALTH QUESTIONS:

  • Have you ever been diagnosed, treated, or taken medication for Lou Gehrig’s disease (ALS)?
  • During the past 24 months, have you been treated for neuromuscular disease including Lou Gehrig’s disease, multiple sclerosis, epilepsy, and Parkinson’s disease)?
  • Have you ever been diagnosed with, or received or been advised to receive treatment or medication for Amyotrophic Lateral Sclerosis (ALS)?

Every life insurance company wants to know if you have ALS. Insurance companies that ask about ALS in their application will flat out decline your application for first-day coverage.

When you have ALS or Lou Gehrig’s disease you cannot qualify for life insurance with medical underwriting.


PRESCRIPTION HISTORY CHECK:

There are two drugs approved for ALS treatment:

  • Riluzole (Rilutek)
  • Edaravone (Radicava)

If you are taking any of these drugs, the insurance company will know that you have ALS and they will decline your application for a first-day coverage plan.


HOW MUCH INSURANCE DO I NEED IF I HAVE ALS?

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 biggest 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$2,195
Removal/ transfer of remains to funeral home$350
Embalming & preparation of the body$1,005
Use of facilities for viewing & funeral ceremony$925
Hearse$340
Service car/van$150
Basic memorial printed package$175
Metal casket$2,500
Vault$1,495
Median Cost of a Funeral With Viewing and Burial$9,135
AVERAGE FUNERAL COST WITH VIEWING AND CREMATION 
Non-declinable basic services fee$2,195
Removal/ transfer of remains to funeral home$350
Embalming & preparation of the body$1,005
Use of facilities for viewing & funeral ceremony$925
Service car/van$150
Basic memorial printed package$175
Cremation fee (if firm uses a third-party crematory)$350
Median Cost of a Funeral with Viewing and Cremation$5,150
Cremation Casket$1,200
Rental Casket$995
Alternate Cremation Container$150
Urn$295


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.

PAYMENT METHODRECOMMENDED?
Savings AccountBest way to pay
Checking AccountBest way to pay
CashNot recommended
Money OrderNot recommended
Cashier's CheckNot recommended
Debit CardNot recommended
Credit CardNot recommended
Direct ExpressNot recommended
PAYMENT FREQUENCYRECOMMENDEDACCEPTED BY
MonthlyRecommendedAll Companies
QuarterlyNot RecommendedSome Companies
Semi-annuallyNot RecommendedSome Companies
AnnuallyNot RecommendedSome Companies


ALS 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 other riders 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-ONSAVAILABILITY
Terminal Illness Add-On BenefitIncluded with most plans
Nursing Home Care Add-On BenefitIncluded with most plans


THE BEST GUARANTEED ISSUE LIFE INSURANCE POLICY

The best-guaranteed issue life insurance policy will not make you wait more than two years to take effect. Some plans have THREE or even FOUR-year waiting periods. It’s insane! Avoid these plans at all costs.

With guaranteed issue life insurance, the coverage comes into effect in two years. It is the shortest period possible before your coverage is in full effect. You don’t have to wait for more than that.

Your application will be easy because there are no medical exams or health questions. Guaranteed issue life insurance has a two-year waiting period, if you die in the first two years as a consequence of your organ transplant, you will get your premiums back plus 10% interest.


OTHER COMMON USES FOR FINAL EXPENSE LIFE INSURANCE WITH ALS

All of these examples are appropriate uses for Final Expense Life Insurance:

  • Burial insurance plan with ALS
  • Cremation insurance plan with ALS
  • Funeral home insurance plan with ALS
  • Final Expense insurance plan with ALS
  • Prepaid funeral plan insurance with ALS
  • Mortgage payment protection plan with ALS
  • Mortgage payoff life insurance plan with ALS
  • Deceased spouse’s income replacement plan with ALS
  • Legacy insurance gift plan to family or loved ones with ALS
  • Medical or doctor bill life insurance plan with ALS

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?

Trying to find a policy with ALS 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 of the way to find the plan that fits your financial requirements and budget. You don’t have to waste your precious time anymore searching for multiple insurance companies because we will do the dirty work for you.

We work with many A+ rated insurance carriers that specialized 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 ALS funeral insurance, or ALS burial insurance, or ALS life insurance, we can help.

Fill out our quote form on this page or call us at (888) 862-9456 and we can give you an accurate quote.

Funeral Insurance, Final Expense Insurance, Burial Insurance With ALS - Lou Gehrig's Disease Infographics

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