2023 Burial Insurance For People on Oxygen [Use Caution]
last updated on June 2, 2023Burial insurance for people on oxygen is a frequent request that we receive each week. This is because 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.
We can get you approved for burial insurance, but your eligibility will depend on how long you have used supplemental oxygen, and how frequently you use oxygen for breathing.
Read on to learn how insurance companies underwrite people on oxygen and what your options will be.
FOR EASIER NAVIGATION:
- What Is My Best Insurance Option If I Use Supplemental Oxygen?
- What Types of Burial Insurance Should I Avoid?
- What Type of Burial Insurance Is Best?
- If I Use Supplemental Oxygen, Do I Need a Medical Exam to Qualify for Burial Insurance?
- Burial Insurance Underwriting If You Use Supplemental Oxygen
- How Much Insurance Do I Need If I Use Supplemental Oxygen?
- How Should I Pay My Premiums?
- Supplemental Oxygen Use and Burial Insurance Riders
- How to Find the Best Burial Insurance for People on Oxygen
- Benefits of Burial & Funeral Insurance
- Other Common Uses for Final Expense Life Insurance for People on Oxygen
- How Can Funeral Funds Help Me?
What Is My Best Insurance Option If I Use Supplemental Oxygen?
SUPPLEMENTAL OXYGEN USE FOR SLEEP APNEA
If you are using supplemental oxygen for sleep apnea, you will have no problem getting burial insurance. Every burial insurance company is okay with supplemental oxygen use for sleep apnea. You will qualify for a first-day coverage plan with no waiting period and the lowest rates.
You will be covered from the first day and your beneficiary will receive your full death benefit amount when you pass away.
Best Option: First-day coverage plan
OCCASIONAL SUPPLEMENTAL OXYGEN USE
If you are using supplemental oxygen for seasonal asthma or severe asthma attack for less than 24 hours a day, you will qualify for a first-day coverage plan.
Best Option: First-day coverage plan
TEMPORARY OXYGEN USE (less than 24 hours a day)
If you don’t have sleep apnea, and you use supplemental oxygen, you will not be eligible for burial insurance with first-day coverage. However, you can qualify for a first-day benefit plan if you use supplemental oxygen for less than 24 hours a day.
You will be covered from the first day and your death benefit will be phased in over time.
Best Option: First-day benefit plan
LONG TERM OXYGEN USE (24 hours a day)
Long-term oxygen use for:
- Chronic Obstructive Pulmonary Disease (COPD)
- Bronchopulmonary dysplasia
- Cystic fibrosis
- Heart failure
- Lung diseases like emphysema or chronic bronchitis
- Pneumonia
- Trauma to the respiratory system
If you use oxygen full-time, a guaranteed issue or guaranteed acceptance burial insurance is the best option for you.
You cannot find a first-day coverage plan if you are using supplemental oxygen full-time.
These plans have no medical exam and never ask any health questions, and you can qualify regardless of your health. The only requirement is your age and budget.
Best Option: Guaranteed issue burial insurance
Drawbacks of Guaranteed Issue Burial Insurance
- Guaranteed issue life insurance policy is more expensive – it is more expensive per dollar of coverage. Guaranteed issue burial insurance has a higher premium than a policy with health questions because they take more risks to offer you a policy. The premiums are typically 15-50% expensive than first-day coverage plans.
- The death benefit is lower – Guaranteed issue life insurance death benefit is lower and it maxes at $25,000. You will more likely purchase somewhere between $1,000 and $10,000.
- There is a two-year waiting period – The company won’t pay out 100% death benefit if you die within the first two policy years. If you die during this waiting period, they will return every money you paid plus interest(which is usually 10%).
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 Use Supplemental Oxygen, 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 if you use supplemental oxygen.
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 Use Supplemental Oxygen
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 insurance provider with underwriting asks about any oxygen use. Not one of them will forget to ask that question.
You will often see these questions in the knockout part of the application:
- Within the past 12 months, have you used, or been advised to use oxygen equipment to assist with breathing (excluding use for sleep apnea)?
- Are you currently: hospitalized, confined to a bed or nursing facility, using oxygen equipment to assist in breathing?
- Are you currently hospitalized, confined to a wheelchair, bed, or nursing facility, using oxygen equipment to assist in breathing?
Only guaranteed issue policies will NOT ask about supplemental oxygen use.
How Much Insurance Do I Need If I Use Supplemental Oxygen?
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.
Supplemental Oxygen Use 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-ONS | AVAILABILITY |
|---|---|
| Terminal Illness Add-On Benefit | Included with most plans |
| Nursing Home Care Add-On Benefit | Included with most plans |
How To Find The Best Burial Insurance For People On Oxygen
Finding the best burial insurance for people on oxygen is easy if you 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 can shop your case with many insurance companies to see which company will give you the best price.
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 For People On Oxygen
All of these examples are appropriate uses for Final Expense Life Insurance:
- Burial insurance plan for people on oxygen
- Cremation insurance plan for people on oxygen
- Funeral home insurance plan for people on oxygen
- Final Expense insurance plan for people on oxygen
- Prepaid funeral plan insurance for people on oxygen
- Mortgage payment protection plan for people on oxygen
- Mortgage payoff life insurance plan for people on oxygen
- Deceased spouse’s income replacement plan for people on oxygen
- Legacy insurance gift plan to family or loved ones for people on oxygen
- Medical or doctor bill life insurance plan for people on oxygen
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 a policy if you have oxygen use can be frustrating, but working with an independent agency like Funeral Funds will make the process easier and quicker.
You don’t need to waste your precious time searching for 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.
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