2024 Burial Insurance With An Organ Transplant
last updated on March 26, 2024You can qualify for burial life insurance coverage with an organ transplant through a few select companies.
!!! READ THIS FIRST !!!
It is important to mention that it is impossible to qualify for a plan with first-day coverage because of the extremely high risks involved with your organ transplant.
We recommend people who have had organ transplant purchase a guaranteed issue life insurance that asks no health questions but does come with a 2-year waiting.
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.
FOR EASIER NAVIGATION:
- What Is My Best Insurance Option If I Have a History of Organ Transplant?
- What Types of Burial Insurance Should I Avoid?
- What Type of Burial Insurance Is Best?
- If I Have an Organ Transplant, Do I Need a Medical Exam to Qualify for Burial Insurance?
- Burial Insurance Underwriting If You Have an Organ Transplant
- How Much Insurance Do I Need If I Have an Organ Transplant?
- How Should I Pay My Premiums?
- Organ Transplant and Burial Insurance Riders
- The Best Guaranteed Issue Life Insurance Policy
- Benefits of Burial & Funeral Insurance
- Other Common Uses for Final Expense Life Insurance with an Organ Transplant
- How Can Funeral Funds Help Me?
What Is My Best Insurance Option If I Have A History Of Organ Transplant?
The time that passes after your organ transplant is the most critical issue with most burial insurance companies. It is the deciding factor that will determine what plan you will qualify for and your premium.
YOUR ORGAN TRANSPLANT WAS OVER 2 YEARS
Insurance companies offering coverage for organ transplant patients have a two-year look-back period on organ transplant because they want to see if the surgery was successful or if there are any complications from your organ transplant.
You have the best option available if your organ transplant was over two years. Burial insurance companies will offer you a first-day benefit plan.
You will be covered from the first day, and your death benefit will be phased in over time.
Best Option: First-day benefit plan
YOUR ORGAN TRANSPLANT WAS LESS THAN TWO YEARS AGO
You still have an option if your organ transplant was less than two years ago.
You will qualify for guaranteed issue burial insurance no matter what kind of organ transplant you have.
Guaranteed issue burial insurance policies do not have health questions and do not check your medical history in any way. Your approval is guaranteed even if your organ transplant is very recent.
Best Option: Guaranteed issue burial insurance
THE DRAWBACKS OF GUARANTEED ISSUE LIFE INSURANCE
The biggest drawback for organ transplant patients when you buy guaranteed 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.
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 your children’s education, this plan will not work for you.
WHY WOULD IT STILL MAKE SENSE TO BUY A GUARANTEED ISSUE LIFE INSURANCE?
We only recommend guaranteed issue life insurance 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 to get coverage. Organ transplant patients will never qualify for a first-day benefit plan if it’s very recent (less than 2 years). Remember, having some coverage is better than nothing.
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 makes sense if you have had an organ transplant. When you look at the bigger picture, you will see that guaranteed issue life insurance is a great financial solution for your loved ones even with a waiting period.
What Types Of Burial Insurance Should I Avoid?
| PLANS TO AVOID | WHY? |
|---|---|
| Term life | Premiums increase after 5 years. Coverage ends after 80. |
| Pre-paid funeral plans | Expensive |
| Universal life | Tied with stocks |
| No health questions policies | With 2-year waiting period |
| Plans offering "teaser rates" | $9.95 per unit plans or $1 buys $100,000 coverage |
| Over priced plans | Insurance from TV and junk mail |
| Plans that accept mail-in payments | Risky |
| Plans that accept Direct Express | High lapse rate |
| Plans that accept Credit Cards | High lapse rate |
What Type Of Burial Insurance Is Best?
| FUNERAL FUNDS PLAN BENEFITS | INCLUDED |
|---|---|
| 1st Day Coverage | YES |
| Rates NEVER Increase | YES |
| Coverage NEVER Decreases | YES |
| Easy to get approved | YES |
| No Medical Exam | YES |
| Same Day Approval | YES |
| Death Claims Pay Fast | YES |
| Builds cash value | YES |
| Coverage Up To Age 121 | YES |
If I Have An Organ Transplant, 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 an organ transplant.
When you apply for burial insurance, you only have to answer some basic questions about your health. The application process is simple; 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 An Organ Transplant
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:
Every burial insurance carrier will ask about organ transplants in the following way or something very similar to this:
- Have you EVER received or been advised to receive an organ transplant?
- Has the proposed insured ever been recommended for an organ transplant?
- Have you ever received medical advice from a medical professional regarding your need to receive an organ or tissue transplant?
Some carriers might tie a specific period of time to their questions like this:
- Within the last 24 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.
Organ transplants are risky surgical procedures that the insurance companies know can result in premature death.
Here are the most often transplanted organs:
If you have had an organ transplant, you need to answer “yes” to the health questionnaire.
PRESCRIPTION HISTORY CHECK
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.
Here’s a list of organ transplant medications:
- Azathioprine
- Basiliximab
- Belatacept
- Cyclosporine
- Daclizumab
- Muromonab-CD3
- Mycophenolate Mofetil
- Mycophenolate Sodium
- Mycophenolic Acid
- Prednisone
- Sirolimus
- Tacrolimus
Certain immunosuppressant drugs raise a red flag to life insurance companies. If you take any of these drugs, you will be flagged as an organ transplant patient and considered a high-risk applicant.
How Much Insurance Do I Need If I Have An Organ Transplant?
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 services | $2,300 |
| Removal/ transfer of remains to funeral home | $350 |
| Embalming & preparation of the body | $1,050 |
| Use of facilities for viewing & funeral ceremony | $965 |
| Hearse | $325 |
| Service car/van | $150 |
| Basic memorial printed package | $183 |
| Metal casket | $2,500 |
| Vault | $1,572 |
| Median Cost of a Funeral With Viewing and Burial | $9,420 |
| AVERAGE FUNERAL COST WITH VIEWING AND CREMATION | |
|---|---|
| Non-declinable basic services fee | $2,300 |
| Removal/ transfer of remains to funeral home | $350 |
| Embalming & preparation of the body | $1,050 |
| Use of facilities for viewing & funeral ceremony | $965 |
| Service car/van | $150 |
| Basic memorial printed package | $183 |
| Cremation fee (if firm uses a third-party crematory) | $368 |
| Cremation Casket | $1,310 |
| Urn | $295 |
| Median Cost of a Funeral with Viewing and Cremation | $6,970 |
| Rental Casket | $995 |
| Alternate Cremation Container | $150 |
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.
Organ Transplant 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 others 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-ONS | AVAILABILITY |
|---|---|
| Terminal Illness Add-On Benefit | Included with most plans |
| Nursing Home Care Add-On Benefit | Included 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.
The coverage comes into effect in two years with guaranteed issue life insurance. 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 due to your organ transplant, you will get your premiums back plus 10% interest.
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 is 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 if 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 With An Organ Transplant
All of these examples are appropriate uses for Final Expense Life Insurance:
- Burial insurance plan with an organ transplant
- Cremation insurance plan with an organ transplant
- Funeral home insurance plan with an organ transplant
- Final Expense insurance plan with an organ transplant
- Prepaid funeral plan insurance with an organ transplant
- Mortgage payment protection plan with an organ transplant
- Mortgage payoff life insurance plan with an organ transplant
- Deceased spouse’s income replacement plan with an organ transplant
- Legacy insurance gift plan to family or loved ones with an organ transplant
- Medical or doctor bill life insurance plan with an organ transplant
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?
Finding burial insurance with organ transplants needn’t be frustrating; working with an independent agency like Funeral Funds will make the process easier and quicker.
We will work with you every step to find the plan that fits your financial requirements and budget. You need not waste your precious time searching for multiple insurance companies because we will do the dirty work for you.
We work with many A+ rated insurance carriers that specialize 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 organ transplant funeral insurance, 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.
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2 Comments
Gloria martin
Hi
I'm inquiring about burial insurance could you please send me the quote.
Thanks
Funeral Funds
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