Being diagnosed with atrial fibrillation doesn’t mean you will be declined for burial insurance; there are ways to get burial insurance protection. People with atrial fibrillation are considered higher risk clients to insurance companies.
We understand that purchasing life insurance can be difficult for anyone with health issues, especially if you’ve been denied coverage in the past. Funeral Funds can help you secure the most affordable coverage because we work with many life insurance carriers that look at Afib applicants favorably.
Over the years, Funeral Funds has helped many clients with AFib secure affordable life insurance. In this article, we will show you how to secure burial insurance even if you have atrial fibrillation.
FOR EASIER NAVIGATION:
WHY DO INSURANCE COMPANIES CARE ABOUT AFIB?
Atrial fibrillation (also called AFib) is an irregular heartbeat that can lead to heart failure, stroke, blood clots, and other heart-related complications. Currently, more than two million Americans have been diagnosed with atrial fibrillation.
During atrial fibrillation, the atria (the hearts two upper chambers) beat in an uncoordinated way with the ventricles (two lower chambers). This can cause shortness of breath, heart palpitations, lightheadedness, and weakness. AFib can be caused by different factors including, heart failure, heart valve disease, coronary artery disease, cardiomyopathy, and high blood pressure.
Atrial fibrillation is not a fatal condition on its own. However, it’s an issue for life insurance companies because this condition increases the chance of a stroke or more serious heart issues.
Atrial fibrillation patients are five times more likely to have a stroke compared with those with normal heart rhythm. This condition is seen as an increased risk for insurance companies.
Beyond atrial fibrillation, insurance companies will also consider if you have any other heart issues and your overall health. Each company will view atrial fibrillation differently; some of them will look at it favorably and offer better rates while others will decline your application.
A person with atrial fibrillation who also has other compounding issues will be seen as a higher risk to life insurance companies (due to a decreased life expectancy).
Other health conditions that the insurance consider in addition to atrial fibrillation:
- Previous heart attacks
- Previous heart surgeries
- History of strokes
- History of blood clots
- Prescriptions of blood thinners
- Excessive alcohol use]
UNDERWRITING BURIAL INSURANCE WITH AFIB
Underwriting burial insurance is different from traditional life insurance like term life, IUL, and whole life insurance. These types of insurance will ask about the severity of your AFib. They will want to know what kind of atrial fibrillation you have and if you have other underlying health issues.
Burial insurance with AFib underwriting is different. The insurance carriers will not ask about the severity of your condition or what caused it. They don’t want you to take a medical exam either!
Burial insurance underwriting has two components:
FIRST – the insurance company will ask questions about your health.
SECORD – they will electronically check your prescription history.
These two processes give the company the information they need to complete their risk analysis and determine if you are eligible for coverage.
HEALTH QUESTIONS FOR BURIAL INSURANCE WITH AFIB
The health questions on the burial insurance application are all YES or NO answers. The companies simply want to know if you have atrial fibrillation or not.
Some health questionnaires will specifically ask about Atrial fibrillation, an example in the last 12 months have you received diagnosis or treatment for atrial fibrillation?
Some will ask if you have irregular heartbeat such as, have you ever been treated for an irregular heartbeat or irregular heart rhythm. If you have AFib, you need to answer YES to this question no matter how they phrase it.
Most health questions will be tied to a specific period of time. For example, in the past 24 months have you been advised to have treatment for heart attack? In the case of AFib, they will ask if you ever have it in your life.
Not all burial insurance companies will ask about heart AFib.
There are few which we work with that will not ask about atrial fibrillation or irregular heart rhythm.
That’s right. They don’t care.
These carriers are perfectly accepting of your condition, and they will not charge you more because of it nor impose a waiting period. They will look at you as if you don’t have this condition and you are in perfect health.
Many burial insurance policies contain “knockout” questions and prescription history check. Since AFib is generally not an issue with some companies, the only way to get knocked out is if you answer YES to a different knockout question.
Knockout questions are generally related to heart attack, stroke, diabetes, cognitive function, amputations and some prescription medication that these conditions use for treatment. So, if you have atrial fibrillation, and you have no other significant underlying conditions your application will be approved with some companies.
Burial insurance underwriting is simple and straightforward. Some burial insurance carriers will even approve your application over the phone immediately (our clients prefer these companies).
Prescription History Check for burial insurance
Burial insurance companies will also look at your prescription drug history to learn what medications you take. This process is done to verify your health status.
If your answers to the health questions do not match the prescription drug you take, that will raise a red flag with the insurance company.
For example, if you take Spiriva for COPD, but you say no to the questions, “in the last 24 months, have you received diagnosis or treatment for COPD?” the company will question your honesty.
Here’s a list of prescription medications often prescribed for Atrial Fibrillation:
- Amiodarone (Cordarone, Pacerone)
- Digoxin (Lanoxin)
- Dofetilide (Tikosyn)
- Flecainide (Tambocor)
- Propafenone (Rythmol)
- Sotalol (Betapace, Sorine)
If you are on any of these prescription medications, you will be viewed as an atrial fibrillation patient by the insurance companies.
Taking medications that control AFib is typically seen as a positive indicator of AFib by the companies. so if you take medications to regulate your heartbeat, the insurance companies will consider you to have AFib.
Taking regular medications for more than a two year period will be seen as a positive sign of control over your AFib condition. However, recent prescription medications in large doses could be seen as an unregulated or unstable medical condition.
FUNERAL POLICY OPTIONS FOR AFIB PATIENTS
You can qualify for affordable burial insurance, funeral insurance, cremation insurance, and final expense insurance rates with atrial fibrillation.
Burial insurance is exclusively whole life insurance with death benefit face amount ranging from $5,000 to $50,000. How the policy works and the calculation of the death benefit will be dictated by the type of burial policy. This may be either a level death benefit or graded death benefit.
LEVEL DEATH BENEFIT
There are several burial insurance carriers that are not concerned with your atrial fibrillation. In fact, they don’t even ask about it! Their lenient underwriting standard allows for people with atrial fibrillation to get coverage.
Simplified underwriting is seldom concerned with atrial fibrillation. Many companies offer first-day coverage for clients with AFib.
These no exam policies are the best because you will be covered immediately; they go in effect on the first day. Level death benefit policies are straightforward, and provide a full death benefit from the first day of the policy.
GUARANTEED ISSUE LIFE INSURANCE
Guaranteed issue life insurance has a graded death benefit. It has a two or three-year waiting period where the benefit increases to the face amount.
Graded policies commonly pay a refund of premiums plus 10% interest if you die during the waiting period.
Guaranteed issue life insurance has a fixed premium that will not increase because of advancing age or health condition. The policy will continue to stay in force until premiums are paid, or the insured dies.
GUARANTEED ISSUE BURIAL INSURANCE WITH AFIB
As a stand-alone condition, you can qualify for burial insurance even with AFib. If all you have is AFib, then you are eligible for a level death benefit.
Generally, AFib does not require the use of guaranteed acceptance policy because we have several burial insurance companies that look at this condition favorably.
The only time when an applicant with AFib would need to take the guaranteed issue route is if your AFib was paired with a medical condition that would not qualify for first-day coverage.
Do you have any other medical conditions such as heart disease or diabetes?
Every burial insurance company will ask about different health conditions. So while several companies accept AFib applicants, they may not be so accepting of your other health conditions.
If you happen to have any heart disease or diabetes, you will likely be denied level death benefit, but you can still qualify for guaranteed issue policy with a maximum of $25,000 death benefit.
If you have coronary artery disease or another condition that may have caused your atrial fibrillation your only option for coverage is a guaranteed issue life insurance.
Have you experienced heart palpitations or chest pains in the past six months?
If you have experienced these symptoms in the past six months, it is a red flag to the burial insurance companies because these symptoms are usually signs of an unstable heart. In this situation, you will not qualify for a level death benefit and you will need to apply for guaranteed issue life insurance.
FINDING AFFORDABLE BURIAL INSURANCE WITH AFIB
To find the most affordable plan with atrial fibrillation, you have to work with an independent life insurance agency like Funeral Funds that represents multiple insurance companies. We will compare rates from these companies to determine which one is the lowest for you.
Almost all of our clients are approved for a level death benefit that comes with the lowest price possible.
If you only have atrial fibrillation, we can definitely help you.
HOW CAN FUNERAL FUNDS HELP ME?
Trying to find a policy with atrial fibrillation needn’t be a frustrating process, but working with an independent agency like Funeral Funds will make the process easier and quicker.
If you have a health history with atrial fibrillation, let us help you; we will work with you side by side to find a plan that fits your needs.
We will work with you every step of the way to find the plan that fits your financial requirements and budget. You need not waste your precious time anymore searching for multiple insurance companies because we will do the dirty work for you.
We will shop your case to different insurance carriers and get you the best price.
We work with many A+ rated insurance carriers that specialized in covering high-risk clients like you. We will search all those companies to get the best rate. We will 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 funeral or burial insurance with atrial fibrillation in your medical history, 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.