Most likely you are here because you want some information on burial insurance for people on oxygen because you or your loved one is in that situation. People who need an oxygen supplement for their everyday lives usually have a severe medical condition and are wondering if they could buy burial insurance when on oxygen.
Every single life insurance company will inquire about oxygen use. You will not find any life insurance carrier that does not ask about it. Shopping for burial insurance when on oxygen can be very frustrating because oxygen use is considered uninsurable.
This may come as a surprise to you, but you can get burial insurance when you are on oxygen. We can get you a policy, but it won’t pay out a full death benefit if you die during the first two years. In the first two years, the insurance carrier will simply refund all your premium paid plus interest which is usually 10%.
Funeral Funds is an independent life insurance agency who helps people using supplemental oxygen secure burial insurance. It will give peace of mind to you and your family knowing that your burial expenses will be paid when you pass away. We can guide you through buying burial insurance when on oxygen or even with COPD or other serious medical conditions.
WHO NEEDS SUPPLEMENTAL OXYGEN?
Oxygen is necessary for human life…you are using some if you are reading this right now!
Oxygen is needed for normal bodily function. Without enough oxygen, the body starts to weaken, which puts stress on the body and could even be fatal if left for a long period of time.
Some of the signs and symptoms of lack of oxygen include confusion, shortness of breath, rapid heart rate and bluish skin on the lips, nose or fingernails.
Some people who have breathing disorders can’t get enough oxygen the natural way and they need oxygen therapy. People who can’t get enough amount of oxygen on their own need supplemental oxygen. Supplemental oxygen is a doctor-ordered therapy that provides extra oxygen to support vital bodily functions in case of heart or lung disease.
Oxygen therapy will enable you to breathe oxygen in higher concentrations of than non-supplemental oxygen users.
Lack of oxygen can be caused by lung conditions that prevent the lungs from absorbing oxygen, including:
- Chronic Obstructive Pulmonary Disease (COPD)
- Bronchopulmonary dysplasia
- Cystic fibrosis
- Heart failure
- Lung diseases like emphysema or chronic bronchitis
- Sleep apnea
- Trauma to the respiratory system
When do you need supplemental oxygen?
To determine whether a person needs supplemental oxygen therapy, doctors will test the amount of oxygen in your arterial blood. Low levels mean a person needs supplemental oxygen. The normal levels of arterial blood oxygen are between 75 and 100 mmHg. An oxygen level of 60 mmHg or lower needs supplemental oxygen.
Supplemental oxygen requirement varies depending on the severity of lung or heart disease. Some people need to use supplemental oxygen when they are sick, while others with sleep apnea may only need to use oxygen supplementation at night. However, some people with severe condition might need to use supplemental oxygen all day.
It’s critical to follow the doctor’s instruction when it comes to oxygen use. If you only need to use supplemental oxygen at night and you use it all day, you could run out of oxygen sooner. However, if you’re supposed to use oxygen all day, and you only use it when you remember, you are in danger of having your oxygen level drops too low, this could lead to a serious medical emergency.
BURIAL INSURANCE ELIGIBILITY FOR PEOPLE ON OXYGEN
People on supplemental oxygen to breathe usually have a serious medical condition. Most likely they have lung or heart conditions that prevent the lungs from absorbing enough oxygen. Folks who have been through a health crisis may be wondering how it works buying burial insurance when on oxygen.
Can you qualify for life insurance with supplemental oxygen?
YES, you can qualify for a burial policy! There are burial insurance products that are available up to the age of 85.
We can get you a policy even if you use supplemental oxygen. There is no case where we can’t get you a new burial policy even with supplemental oxygen use.
Every burial insurance company will ask about any oxygen use. You will not find a single one that does not ask about it.
One of these two questions will appear in the knockout section for every burial insurance company:
- Are you currently using oxygen supplementation to assist with breathing?
- Within the last twelve months, have you used oxygen to assist with breathing excluding use for sleep apnea?
There are no exceptions…all insurance companies ask about oxygen use (unless it’s for a guaranteed issue policy).
Oxygen use is considered an uninsurable condition for first-day coverage if not used for sleep apnea.
Oxygen use means you cannot get a coverage that is effective during the first two years. We can get you a burial policy, but it won’t pay a death benefit if you die during the first two years. The insurance company will just refund all the premiums paid plus interest if you die in the last 2 years.
BURIAL INSURANCE FOR PEOPLE ON OXYGEN
Supplemental oxygen use for anything other than sleep apnea means you can’t qualify for burial insurance with immediate coverage.
Using supplemental oxygen for chronic bronchitis, emphysema, other forms of COPD (chronic obstructive pulmonary disease) or any respiratory disorder will mean guaranteed issue life insurance is the only option for you.
There is no way you can find a level death benefit while using supplemental oxygen. The only way you can get a level death benefit while on oxygen is if you use oxygen for sleep apnea, other than that a guaranteed issue plan is your best option.
As long as you are willing to accept a two-year waiting period, higher premium, and lower death benefit, you will qualify for coverage even if you have been declined in the past.
Burial insurance even at a higher cost is better than no life insurance and leaving funeral expenses to your surviving loved ones.
You won’t lose money if you purchase a guaranteed issue plan because they will give your money back when you die with interest even during the waiting period. The interest is typically 7-10%; this is a sound investment as you won’t earn that interest even if you put your money in the bank!
After the two-year waiting period, you are fully protected for life.
Your best option is to apply for a guaranteed issue insurance policy if you are on supplemental oxygen. These plans have no medical exam or health questions of any kind, and you can qualify regardless of your health. The only requirement is your age and budget.
BENEFITS OF GUARANTEED ISSUE LIFE INSURANCE
- No medical exam. You are not required to take a medical exam or answer health questions to qualify. You will only be asked about your basic information on the application.
- Fixed death benefit. The death benefit amount is fixed, and it will not decrease for any reason.
- Level Premium. The premium amount is fixed. You lock the rate at your current age, and the rate will never increase regardless of your advancing age or health conditions.
- Tax-free. The death benefit will be given to your beneficiary when you die without taxes.
- You can choose to have a smaller amount of coverage. You can get coverage as little as you need. The death benefit range from $2,000 to $50,000.
- Cash value component. Guaranteed issue is a whole life policy that builds cash value over time.
- Not cancelable. Your guaranteed issue policy can never be canceled by the life insurance carrier as long as you pay the premiums on time.
DRAWBACKS OF GUARANTEED ISSUE LIFE INSURANCE
- Guaranteed issue life insurance policy is more expensive – These plans are more expensive per dollar of coverage. Guaranteed issue burial insurance costs more compared to a plan that has health questions because the insurance companies are taking on more risk. The premiums are typically 15-50% higher than simplified issue plans.
- The death benefit is lower – Guaranteed issue life insurance death benefit is lower and it maxes at $25,000. You will more likely be purchase somewhere between $1,000 and $10,000.
- There is a two-year waiting period – The policy will not pay out a death benefit if you pass away during the first two years of the policy. If you die during this waiting period, they will give you back every money you paid plus interest(which is usually 10%).
HOW TO FIND THE BEST BURIAL INSURANCE FOR PEOPLE ON OXYGEN
To find the best burial insurance for people on oxygen, you need to work with an independent insurance agency that represents many A-rated insurance companies. You will be able to compare insurance policies, benefits, and premium rates.
An independent insurance agency like Funeral Funds will shop the market for you to see which company is going to give you the best price.
The application process is straightforward. We will run some quotes for you, and we will discuss your options.
We can help you without even physically being there for you. We would most likely complete your application over the phone and apply directly on the internet.
There is no medical exam required for a guaranteed issue policy, and it will be issued immediately. Your policy will come in the mail after a couple of days. You can pay the premium at a later date.
HOW CAN WE HELP YOU?
Trying to find a policy if you have oxygen use can be a frustrating process, but working with an independent agency like Funeral Funds will make the process easier and quicker.
If you require supplemental oxygen, let us help you; we will work with you side by side to find a plan that fits your needs.
You don’t need to waste your precious time searching different insurance companies; we will do the work for you. We can shop your case to different companies to get your application approved.
Here at Funeral Funds, we specialize in obtaining life insurance coverage for people with burial insurance with a history of oxygen use.
We work with many A-rated insurance companies that specialize in high-risk clients. We will search those companies to give you the best rate ever. We’ll match you up with your best burial insurance option.
We will assist you in securing the coverage you need at a rate you can afford. So, if you are looking for burial insurance with oxygen use, 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.