Burial Insurance for Myelodysplastic Syndrome

Man Wondering About Burial Insurance for Myelodysplastic Syndrome

Finding 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?

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.

If you were diagnosed with myelodysplastic syndrome, many insurance companies would require you to be in complete remission for at least two years.

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 or longer, 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 duration of 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 who is currently undergoing myelodysplastic syndrome treatment will not qualify for a first-day coverage plan until they have been in remission for a minimum of two years.

MDS Treatment options may include:

  1. Immunosuppressant treatment: this includes drugs to reduce the activity of the immune system which allows the bone marrow to make blood cells.
  2. Supportive treatment: Options include blood transfusion, growth factor drugs, antibiotics and drugs to get rid of excess iron
  3. Chemotherapy: For patients who are at a higher risk of developing acute myeloid leukemia.
  4. 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 years old. 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 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 $30,000 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 PLANFEATURES
1st Day CoverageYES
Lifetime CoverageYES
Rates NEVER IncreaseYES
Coverage NEVER DecreasesYES
Easy To Get ApprovedYES
FUNERAL FUNDS INSURANCE BENEFITS 
Rates Never IncreaseYes
Coverage Never DecreasesYes
No Medical ExamYes
Same Day ApprovalYes
Death Claims Pay FastYes
Builds cash valueYes
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 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 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. You will find 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:

  1. Do you currently have any type of cancer?
  2. Have you been advised by a doctor to have treatment for cancer?
  3. In the last two years, have you been diagnosed with cancer or received chemotherapy or radiation therapy for cancer?
  4. During the previous two years, have you been treated for any internal cancer?

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, is 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 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 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


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 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


INFORMATION WE NEED IF YOU HAVE MYELODYSPLASTIC SYNDROME

When applying for burial insurance coverage with MDS, it is crucial to provide as much information about your health as possible. 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 get a better idea of your condition.

These questions include:

  1. When were you diagnosed with Myelodysplastic syndrome?
  2. What MDS subtype do you have?
  3. What kind of treatment do you take?
  4. What medications are you taking for your condition?
  5. Are you in remission?
  6. How long have you been in remission?
  7. 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 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 as long as 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?

Trying to find a policy if you have a 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 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 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 myelodysplastic syndrome funeral insurance, or 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.

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