Shopping for burial insurance with kidney dialysis can be daunting. Since qualifying for insurance protection is heavily dependent on your current health condition, being on dialysis can make the process more challenging.
It is possible to get good coverage at an affordable rate even when you have kidney failure requiring dialysis. When it comes to finding burial insurance coverage if you’re currently receiving kidney dialysis, what you will want to do is look for companies that don’t require you to take a medical exam or ask you any health questions.
At Funeral Funds, we extensive experience in helping people with end-stage renal failure who are receiving dialysis. We will reveal to you how you can qualify for the most affordable burial insurance policy possible.
FOR EASIER NAVIGATION:
WHY DO INSURANCE COMPANIES CARE IF I’M UNDERGOING DIALYSIS
End-stage renal failure is one condition that requires dialysis.
The kidneys cannot function alone and need the assistance of a dialysis clinic three days a week. Dialysis is the process that cleans the blood to keep you healthy. In fact, without it, you will die prematurely.
3.9 million American adults are diagnosed with kidney disease according to the Centers for Disease Control and Prevention. Every year, more than 47,000 Americans will die from kidney disease which includes nephrotic syndrome, nephritis, and nephrosis.
Kidney disease is the 9th primary cause of death in America.
There are an estimated 570,000 Americans with end-stage kidney disease. This condition makes high blood pressure worse and increases the risk of heart attacks and heart-related deaths.
If you have end-stage kidney failure, you will need to have regular dialysis treatments for the rest of your life unless you are able to get a kidney transplant.
Your life expectancy will vary depending on your other medical conditions and how well you follow your treatment plan. On average, the life expectancy of people on dialysis is 5 to 10 years; however, many patients can live on dialysis for 20 or 30 years.
Burial insurance companies recognize the seriousness of these statistics, that’s why kidney dialysis life insurance option for people on dialysis is limited. Funeral Funds has made a comprehensive search to find insurance companies that offer life insurance for people with end-stage renal failure.
CAN I QUALIFY FOR BURIAL INSURANCE WITH KIDNEY DIALYSIS?
YES! You can qualify for burial insurance with kidney dialysis.
If you had been declined for coverage in the past because of dialysis, you could now get 100% insurance protection in the form of guaranteed issue life insurance.
When it comes to finding life insurance coverage for someone who is currently undergoing kidney dialysis, your only option available is a policy that asks no health-related questions and doesn’t require you to take any medical exam.
The major benefit of this type of policy is that you cannot get turned down, even with a high-risk pre-existing condition like an end-stage renal failure.
End-stage renal failure is a terminal condition, and unfortunately, there are no insurance companies that will provide coverage for the first two years of the policy.
The only option you have is guaranteed life insurance that has a two-year waiting period. That means you need to wait for two years after you purchase the policy before you’re fully covered.
The good news is there are several different life insurance companies that offer affordable guaranteed issue life insurance.
UNDERWRITING BURIAL INSURANCE WITH KIDNEY DIALYSIS
If you are unfamiliar with the term underwriting, underwriting is the process used by the insurance companies to assess your level of risk and to determine your eligibility. They do this by asking health-related questions and analyzing your prescriptions history to underwrite your application.
The typical questions asked on the application include:
- Have you ever been advised to receive kidney dialysis?
- Sometimes they will tie a specific period of time to their question like:
- Within the last 12 months, have you ever been advised to receive kidney dialysis?
Kidney dialysis is always included in the health questions no matter how they ask about it.
There are two ways burial insurance companies will react if they found out you are on dialysis:
- They will not offer you any coverage.
- They will offer you a plan with a higher premium with a two-year waiting period.
POLICY OPTIONS FOR KIDNEY DIALYSIS PATIENTS
If you are currently receiving dialysis, your best option a guaranteed issue life insurance policy this is also the insurance for end stage renal disease. Several different guaranteed issue life insurance carriers offer this type of life insurance policy.
Guaranteed issue life insurance comes with a two-year waiting period.
No life insurance company will ever offer you coverage that protects you immediately. Being on dialysis mean that you will have to wait two years before any life insurance carrier will pay out a death benefit to your beneficiaries.
Guaranteed issue final expense life insurance is also called no-questions life insurance. This means that there are no medical questions on the application.
In fact, you are not even required to disclose your health condition and that you’re on dialysis. Guaranteed life insurance is meant for applicants with pre-existing conditions that are considered high risk.
There are only three requirements for you to qualify for guaranteed issue life insurance:
- You must be a U.S. citizen.
- You must be between 40 to 85 years old to qualify.
- You must live in a state where the product is available.
This type of policy is designed for people looking for life insurance to cover the end of life expenses. It is the easiest and discreet way of applying for and receiving life insurance coverage when you’re on dialysis.
Advantages of Guaranteed Issue Life Insurance:
- Easy to qualify – You can obtain a policy without undergoing a medical exam or answering health-related questions. All you have to do is fill out an application, pay the premium, and you are covered. You are guaranteed acceptance when you apply even when you are on dialysis.
- Level premium – Enjoy fixed monthly premium. It will never increase as you get older. Your monthly insurance bill will remain the same because you lock the rate at your current age, and the premium will never go up for any reason.
- Fixed death benefit – Your death benefit will never decrease for any reason. Your beneficiaries will receive the exact amount of your policy.
- Tax-free – Your death benefit will be given to your beneficiary free of tax.
- You can choose a minimal amount of coverage. You can choose between $2,000 to $25,000 coverage amounts.
- Non-cancellable – Your burial insurance policy can never be canceled by the insurance carrier as long as your premium payments are made on time.
- Cash value – Guaranteed issue life insurance is whole life insurance that accumulates cash value over time.
Drawbacks to Guaranteed Issue Burial Insurance with Dialysis
When guaranteed issue burial insurance is your only choice because of your high-risk condition, there are some pertinent facts you should know in advance.
#1. Graded death benefit.
Guaranteed issue life insurance policyholders will need to wait the required two-year waiting period that you must outlive before you qualify for full coverage.
If you pass away during the two-year waiting period, from natural causes such as end-stage kidney failure, cancer, stroke or diabetes your beneficiaries will only receive the premiums paid-to-date plus some interest (which is typically 10%). It means 110% of your premiums will be paid to your beneficiaries when you pass away.
There is only one exception to this, and that is if you die from an accident. For example, let’s say you die from a car accident during the waiting period. If that happens, your beneficiaries will receive 100% of the policy amount.
#2. Limited coverage amounts.
Because guaranteed issue life insurance takes in higher-risk applicants, the best insurance carriers can only offer a minimal amount of coverage.
Usually, non-medical exam policies have a maximum amount of $25,000 in coverage for people on kidney dialysis. This amount is just enough to cover final expenses like funeral, burial or cremation services.
A policy maxing out at $25,000 may not be enough to cover medical bills or other outstanding debts caused by kidney failure, but having some coverage is better than leaving your loved ones with nothing.
The majority of our clients with renal failure agree that having some coverage is far better to no coverage at all.
Guaranteed issue life insurance is more expensive other burial insurance with level coverage. But if guaranteed issue life insurance is your only option to get coverage, having to pay more for coverage is a fair deal.
WHY DO YOU HAVE TO WAIT TWO YEARS IF YOU ARE ON KIDNEY DIALYSIS?
Kidney disease is the ninth leading cause of death in the U.S. Each year, and kidney disease kills more than 47,000 people. It worsens high blood pressure and increases the risk of heart-related deaths.
People undergoing dialysis have a significantly lower life expectancy compared to healthy people.
The average life expectancy of dialysis patients is 5 to 10 years although some patients may live up to 30 years. This is the reason why no life insurance company will issue coverage without a two-year waiting period.
No life insurance company can afford to sell immediate coverage to people who have a serious health concern like an end-stage renal failure. The two-year waiting period is designed to keep your coverage affordable, and the insurance companies stay in business.
WHY DO YOU NEED GUARANTEED ISSUE LIFE INSURANCE IF YOU ARE ON DIALYSIS?
If you have end-stage renal failure and on dialysis, it’s very critical that you apply for guaranteed acceptance life insurance policy as soon as possible. It’s essential to begin working through the waiting period as quickly as possible. This is for your family’s benefit.
When you’re on dialysis, it would be a very smart move to get coverage immediately.
The faster you work on the waiting period, the faster your beneficiaries will receive full protection. Additionally, your monthly premium is based on your current age. You will save on premium if you apply now.
If you want to make sure that your end of life expenses will not be a burden to your family, then guaranteed issue life insurance policy is worth purchasing no matter what your age is.
Your beneficiary will receive the 100% death benefit in as little as two years.
End-stage renal failure will eventually cause death in 5 years to 20 years.
Whether you are looking for burial insurance with kidney dialysis for yourself or a loved one with this condition, it is essential to seek the help of an independent life insurance agency to guide you in finding the best policy for your needs.
THE BEST GUARANTEED ISSUE LIFE INSURANCE POLICY
Age Limits: 50-85
Death Benefit: $5,000-$25,000
If you have end-stage kidney disease and undergoing kidney dialysis, guaranteed issue policy is your best choice because they ask no health-related questions at all.
Your application will be easy because you will not have to take a medical exam nor would you need to answer health questions.
Guaranteed issue life insurance for kidney dialysis patients has a two-year graded period, but if you die in the first two years as a consequence of your end-stage renal disease, you will get your premiums returned plus 10% interest.
HOW CAN FUNERAL FUNDS HELP ME?
Trying to find a policy with Kidney Dialysis needn’t be a frustrating process; working with an independent agency like Funeral Funds will make the process easier and quicker.
If you have a health history of Kidney Dialysis, 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 don’t have to 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 Kidney Dialysis funeral insurance, or Kidney Dialysis burial insurance, or Kidney Dialysis 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.