It may be tougher, although not impossible to get burial insurance with an organ transplant. Let’s face it, you went through a dangerous operation if you have had an organ transplant. Additionally, you will likely have to take medications for the rest of your life. This alone is going to influence your ability to get life insurance or burial insurance coverage.
While it’s true that organ transplant will disqualify you from qualifying for a traditional term or whole life policies that is not the case with burial insurance. The great news is you can still get a burial insurance policy even when you have an organ transplant.
At Funeral Funds, we have the experience necessary to help people with an organ transplant get the coverage they so desperately need.
In this article, you will share how the burial insurance companies view people with organ transplants, what your options are, and how you can purchase the best burial insurance policy.
CAN YOU GET BURIAL INSURANCE COVERAGE WITH ORGAN TRANSPLANT?
The quick answer is…YES!
You can be eligible for burial life insurance coverage with an organ transplant through a few select companies. But, you must be aware that it can be difficult to get coverage because of the extremely high risks involved with your organ transplant.
An organ transplant may save your life, but there are lots of medical complications that occur with past organ transplant patients. This is why most organ transplant patients will not qualify for traditional insurance policies.
While it’s true that having an organ transplant will disqualify you from traditional life insurance, you can still qualify for burial insurance.
The only kind of life insurance policy you will qualify if you have an organ transplant is a guaranteed issue burial insurance. You will not be declined coverage as long as you meet the age requirement for this life insurance product.
We can get you a policy no matter what kind of organ transplant you have. However, you must be aware that no life insurance company on earth will offer you coverage that fully protects you during the first two years.
Having an organ transplant means you will have to wait two years before the insurance carrier will give out the full death benefit. If you were to die during the first two years, the company would refund all your premiums plus interest.
WHY DO LIFE INSURANCE COMPANIES CARE ABOUT ORGAN TRANSPLANTS?
Organ transplants are risky surgical procedures that the insurance companies know can result in premature death.
Here are the most often transplanted organs:
Let’s keep things real here…an organ transplant can save your life, but it comes with many life-threatening health risks.
These risks include:
- Rejection of donor organ
- Problems with the coronary arteries
- Side effects of immunosuppressant drugs
- Cancer – immunosuppressant reduce the strength of immune system making you susceptible to any form of cancer
- Infection – the body’s immune system becomes weak making it harder to fight infections.
Life insurance companies care about organ transplants because having an organ transplant will increase your lifespan in the short term, but may decrease your lifespan in the long term.
The lifespan and survival rate patients with organ transplant depend on several factors including aftercare, how effectively the organ was cooled, the possibility of chronic rejection, and how long it took for the organ to reach the recipient.
Most medical experts agree that organ transplant is not necessarily a cure for diseases because the patient will have to be on immunosuppressant medication for the rest of his life to combat rejection.
The average lifespan of most frequently transplanted organs using the median survival rates from several sources are as follows:
#1. A heart transplant is needed for several reasons including severe heart failure as a consequence of congenital heart disease. The average survival median for a heart transplant is at least ten years after surgery.
#2. A kidney transplant is needed in end-stage kidney failure when dialysis no longer helps. The prognoses for kidney patients are excellent with 90% survival rate with a median lifespan of 15 years after kidney transplant especially if the kidney came from a live donor
#3. A lung transplant that is needed for those with active lung disease resulting in respiratory failure. It has to be done if the lung disease affects breathing and overall quality of life. The survival rate is 67% of all patients survive for one year, 65% for two years and 44% of transplant patients survive for five years.
#4. A liver transplant is needed when diseases such as viral hepatitis, cirrhosis, alcoholic liver disease, and genetic or metabolic liver disorders cause the liver to fail. The survival rate for a liver transplant is 80 to 89% of all liver transplants. The liver transplant patient can survive three months to 12 years after transplantation.
WHY ORGAN TRANSPLANT PATIENTS HAVE TO WAIT?
The truth about organ transplant is that patients have a significantly lower life expectancy compared with the average person. This is the reason why no life insurance company will issue your insurance coverage without a waiting period of at least two years.
Fortunately, following your doctor’s orders and taking your immunosuppressant medications faithfully can prolong your life for many years. If you had an organ transplant, luckily burial insurance is still a great option for you. You just have a two-year waiting period for 100% coverage.
UNDERWRITING BURIAL INSURANCE WITH ORGAN TRANSPLANT
If you’re unfamiliar with the term underwriting, underwriting is the process used by insurance carriers to assess your level of risk and to determine if you will qualify for final expense insurance.
Final expense insurance companies will ask you questions about your health, and they will analyze your prescription history to underwrite your application.
COMMON HEALTH QUESTIONS WITH ORGAN TRANSPLANTS
Every burial insurance carrier will ask about organ transplant in the following way, or something very similar to this:
- Have you EVER received or been advised to receive an organ transplant?
Some carriers might tie a specific period of time to their questions like this:
- Within the last 12 months, have you ever received or been advised to receive an organ transplant?
Most life insurance carriers ask these questions in the “knockout” section. If you answer a question with a “yes” in a knockout section, you are not eligible for coverage with that plan.
Regardless of how the insurance companies find out about your organ transplant, burial insurance companies will have two responses to organ transplant applicant:
- They will outright deny you coverage
- They will offer you a plan with a two-year waiting period and charge you a higher monthly period.
Prescription History Check
When you get a new organ transplant, your body knows that the new organ is a foreign body and considers it an unhealthy invader. Your body will attack the new organ and try to destroy it.
As a result, an organ transplant patient will be prescribed immunosuppressant drugs. The immunosuppressant drugs suppress the body’s ability to attack or fight against itself. These anti-rejection drugs work in different phases to minimize side effects and produce effective immunosuppression.
Certain immunosuppressant drugs raise a red flag to life insurance companies. If you are taking any of these drugs, you will be flagged as an organ transplant patient and considered to be a high-risk applicant.
Here’s a list of organ transplant medications:
- Mycophenolate Mofetil
- Mycophenolate Sodium
- Mycophenolic Acid
POLICY OPTIONS IF YOU HAVE ORGAN TRANSPLANT
Even if you say yes to any of the following questions, you will still qualify for burial insurance:
- Do you have an organ transplant?
- Do you have complications after an organ transplant?
- Have doctors told you that you will not live more than a few months after your operation?
You heard that right! Even under these circumstances, you can still qualify for a guaranteed issue or guaranteed acceptance life insurance policy if:
- You are a U.S. citizen
- You meet the minimum age requirements of 50-85 years old
- You live in a state where guaranteed acceptance life insurance policies are available.
WHAT IS A GUARANTEED ISSUE LIFE INSURANCE POLICY?
If you had an organ transplant, your only option to secure a new burial insurance policy is to take out a guaranteed issue life insurance policy. It is also called no-questions-asked life insurance. These policies do not have health questions, and they do not check your medical history in any way.
Guaranteed issue life insurance coverage is also called whole life insurance.
The idea behind guaranteed issue life insurance is to cover your final expenses to have peace of mind that your end of life expenses will not be a burden to your family.
What are the final expenses?
- Funeral costs
- Burial or cremation
- Outstanding medical bills
- Lost wages of loved ones who have to take off work to take care of you
- Credit card bills
- Some living costs in your final days
These are some of the things that can be covered by a guaranteed issue life insurance policy payout.
BENEFITS OF GUARANTEED ISSUE LIFE INSURANCE
No health questions are the biggest benefit!
What this means is that, when you get the application, you will only need to fill out all your personal information and the payment information only. If you look at the application form, you will not see any health questions on it. All you need is the ability to sign your name on the application for coverage.
Guaranteed issue life insurance would be the best option if you had organ transplant because you’re guaranteed to be approved because there are no questions asked. There’s no medical exam either. All you have to do is to sign on the application over the phone or on your computer and send it to the insurance company, and in a couple of days, it’s approved. It’s amazingly easy!
Fixed monthly premium
One of the direct benefits of guaranteed issue life insurance plan is the premium is fixed. Your monthly insurance payment will never increase, that premium is locked in your current age and will remain for the rest of your life. As long as you pay the premiums on time it will never increase for any reason.
Some people are complaining about their life insurance canceling because of their worsening health condition. Guaranteed issue burial insurance for organ transplant patients will never cancel because of advancing age or declining health.
Easy to qualify
It’s a simple yes or no application. The company will not check your health history, pull your medical records or look at your prescription history. They will simply check your identity through your social security number, and you will be approved. Your policy will be issued in a couple of days.
Your death benefit will never decrease
Your death benefit had a fixed amount and guaranteed to never decrease for any reason. Your beneficiaries will receive 100% death benefit when you pass away after the two-year waiting period.
Cash value accumulation
Guaranteed issue life insurance is whole life insurance that accumulates cash value over time. This cash value can be used to pay premiums, or you can borrow against it to be used for whatever purpose.
You can purchase minimal coverage
If your purpose of getting burial insurance is to pay for your final expenses, guaranteed issue policies allow you to buy as little as you need. The face amount ranges from $5,000 to $25,000.
THE DRAWBACKS OF GUARANTEED ISSUE LIFE INSURANCE
The biggest drawback for organ transplant patients when you buy a guaranteed issue life insurance is that there is no immediate coverage (other than accidental death coverage with some insurance companies). When you take out this plan, you will be approved for coverage, but there is a two-year waiting period sometimes three.
It depends on the company and the state you live in. But you cannot escape the waiting period for coverage until the plan comes into full effect.
For accidental death, the company will pay the full amount even if you die on the first day or within the waiting period. It’s only for natural causes of death where first-day full coverage doesn’t take effect until the two-year waiting period.
If you die during the waiting period, only the premiums you paid plus interest will be paid to your beneficiary. If your monthly premium is $50 and you died in the first year, 50 times 12 is $600 plus 10% interest. It would be $660 paid to your beneficiary.
You will also typically pay 15 to 40% more on your policy because of the additional risk the life insurance carrier takes for approving your policy without asking for your medical condition. You can technically be near your death bed when you purchase your policy, and the life insurance carrier will not know about it.
Another drawback is the limited death benefit you can purchase. Guaranteed issue life insurance coverage maxes out at $25,000. If you’re planning to buy a life insurance policy to cover the balance on your mortgage or to pay for the education of your children this plan will not work for you.
WHY WOULD IT MAKE SENSE TO BUY A GUARANTEED ISSUE LIFE INSURANCE?
The only situation where we recommend guaranteed issue life insurance is when you cannot qualify for a policy with health questions because of a significant medical condition.
If you have had an organ transplant, this is the only option for you to get coverage. Organ transplant patients will never qualify for anything else other than a guaranteed issue life insurance. Remember, having some coverage is better than nothing.
You must face the reality that if you have organ transplant your life expectancy is reduced and you need to be covered as soon as possible.
With the right plan, you will have full coverage after two years. Even if your health worsens, you already have coverage!
Buying a guaranteed issue life insurance make sense if you have had an organ transplant. When you look at the bigger picture, and you will see that even with a waiting period, guaranteed issue life insurance is a great financial solution for your loved ones.
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 cost.
Age Limits: 50-85
Death Benefit: $5,000-$25,000
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.
If you have an organ transplant, GI policy is your best choice.
Your application will be easy because there are no medical exam 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.
HOW CAN FUNERAL FUNDS HELP ME?
Trying to find a policy with an organ transplant 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 with an organ transplant, 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 organ transplant funeral insurance, or organ transplant burial insurance, or organ transplant 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.