If you or someone you know is currently looking for burial insurance with Parkinson’s disease, you probably already know that getting approved for a policy can be a challenge because you are considered a high-risk life insurance candidate.
Fighting Parkinson’s disease is hard enough. You don’t want the complication of trying to purchase life insurance to add to that difficulty. That is why we want to make the insurance application process as simple as possible.
If you have Parkinson’s disease and you don’t have life insurance, give us a call and we will expertly guide you through the process.
Over the years we have helped clients all throughout the United States with Parkinson’s disease get the life insurance coverage they need…and we will help you too!
In this article, we will discuss what options are open for you if you have Parkinson’s disease and how to get the best plan suited for your situation.
CAN YOU GET LIFE INSURANCE IF YOU HAVE PARKINSON’S DISEASE?
The short answer is YES, it is possible to get life insurance if you have Parkinson’s disease or other neurological disorders such as Alzheimer’s disease, dementia, Lou Gehrig’s disease, muscular dystrophy, Huntington disease, and cerebral palsy.
If you’ve been turned down by another company in the past, it doesn’t mean you can’t get coverage now. It simply means you probably didn’t apply with the right company.
We work with burial insurance companies that do not ask about Parkinson’s disease. Yes, you read it right!
They just don’t care if you have this disease and they will offer you an insurance plan, even with Parkinson’s. This means you will qualify for the lowest rate and you don’t have to wait two years before you are fully covered if you don’t have any other significant medical conditions.
Want to know something else cool?
Burial insurance does not require you to take a medical exam or submit blood or urine samples. You only need to answer some questions about your health.
WHY DO INSURANCE COMPANIES CARE IF YOU HAVE PARKINSON’S DISEASE
Parkinson’s disease is a neurodegenerative disorder that affects the nerve cells in the brain that makes dopamine, a chemical that sends messages to the brain that controls movement and coordination. It is chronic and progressive movement disorders that continue to get worse over time. Symptoms include muscle rigidity tremors and changes in gait and speech.
Nearly 1 million Americans are living with Parkinson’s disease. The cause is unknown and presently there is no cure, there are treatment options available such as medication and surgery to manage the symptoms.
Parkinson’s disease in itself is not fatal, but complications of the disease can be severe.
About 65% of those with Parkinson’s become disabled within 5 years of diagnosis and about 80% are disabled within 10 years of diagnosis.
Studies have shown that the disease has no real impact on life expectancy and those in the study groups live to the same age as those without the disease. In fact, most patients can live up to 20 years after diagnosis.
Parkinson’s disease is a degenerative disease that occurs over time. Because there’s still no known cure for Parkinson’s disease, and a complete breakdown of the motor system is certain, the life insurance companies are cautious when offering coverage for Parkinson’s patients.
Regardless of your medical condition, we are confident that we can find you an affordable burial insurance policy.
Parkinson’s disease is now manageable, and some insurance companies understand that. Therefore, they are going to give you first-day coverage. So, if you have Parkinson’s disease, please call us. We can give you more options for life insurance coverage.
WHAT WILL WE ASK YOU IF YOU HAVE PARKINSON’S DISEASE
When applying for burial insurance coverage with Parkinson’s disease, it is crucial that you provide as much information as possible. Not only will the information help us understand your health better but it will also help us provide you with an accurate quote.
We will ask you a series of health questions to get a better idea of your overall health.
These questions include:
- When were you initially diagnosed with Parkinson’s disease?
- How do you treat your Parkinson’s disease?
- Do you have any changes in your symptoms over the past 6 months?
- What prescription medication do you take for your condition?
- Do you live independently?
- Do you need assistance in performing activities of daily living such as eating, bathing, dressing, toileting, transferring, and continence?
- Do you have a family history of Parkinson’s disease?
- Do you have other health conditions other than Parkinson’s disease?
It is essential to be completely honest when you answer these questions. The more information you give us, the better we will be able to match you with the right company.
UNDERWRITING BURIAL INSURANCE WITH PARKINSON’S DISEASE
“Underwriting” is the insurance companies’ way of assessing your level of risk. Burial insurance companies with underwriting generally have health questions on the application, and they also perform script checks to verify your health status.
Always opt for burial insurance with underwriting to get immediate coverage and the lowest rates.
Every final expense companies with underwriting ask about Parkinson’s disease in different ways, and sometimes you won’t see the words “Parkinson’s disease” in the health questions.
You will typically see Parkinson’s disease asked this way:
- Do you have Parkinson’s disease diagnosis and treatment?
- In the previous 2 years, have you been diagnosed or treated for Parkinson’s Disease?
- Do you have any type of neuromuscular disease?
If you are diagnosed with Parkinson’s disease and receiving treatment, you need to answer yes to Parkinson’s disease question.
PRESCRIPTION HISTORY CHECK:
Burial insurance companies will also electronically review your prescription history to check if you are being treated for any illnesses.
Here are the common medications flagged for Parkinson’s disease:
The presence of these drugs on your script check or prescription history will make the insurance companies consider you as having treatment for Parkinson’s disease even if you answered no to the Parkinson’s health question. The appearance of these drugs on your prescription history clearly indicates that you are being treated for Parkinson’s disease.
ASSISTANCE WITH ACTIVITIES OF DAILY LIVING
Insurance companies define assistance with activities of daily living (ADL) as needing help with the following:
Every life insurance company ask if you need help with ADL’s. If you are in the late stage of Parkinson’s disease, you will definitely need help in performing daily living activities because your condition gets worse.
Most burial insurance companies decline anyone who needs help with activities of daily living.
Needing help with and ADL’s will affect your rates.
Those companies that ask about Parkinson’s disease will place you in their graded plan. It cost more, and it has a two year waiting period. A graded plan is better than a full waiting period, but it does not offer the lowest rates.
If you don’t qualify to the carrier we know that does not care about ADL, we recommend that you take out a guaranteed issue burial insurance (we can help you with this).
A guaranteed issue has no health questions, and it does not require a medical exam.
It may be a little expensive, and it comes with a waiting period, but at least you are covered whatever happens to you.
HOME HEALTH CARE
Every burial insurance company will ask about home health care just like with activities of daily living. There is only one carrier which does not care about home health care.
If you can’t qualify with them because of other medical condition, your best option is to take a guaranteed issue policy.
Most people with Parkinson’s disease require permanent home health care during the late stage of the disease. If this is your situation, it would be best to take out a guaranteed issue policy.
POLICY OPTIONS IF YOU HAVE PARKINSON’S DISEASE
While it is entirely possible to get burial insurance for Parkinson’s patients, the type of policies available for patients depends on the severity of the disease. In the early stages of the disease when there are local tremors but does not require treatment, you can qualify for a level death benefit with first-day coverage.
In the more advanced stages, when the patient needs help with the activities of daily living, you can be eligible for a graded plan or a guaranteed issue policy.
LEVEL DEATH BENEFIT
Parkinson’s patients in stage 1 (unilateral involvement) and stage 2 (bilateral involvement but normal stance) can qualify for level death benefit if they do not have any other medical conditions that may prevent them from qualifying.
You are instantly covered from day one. Your beneficiaries will get the full death benefit whenever you pass away.
For example, if you die a week after your policy is in force, then your beneficiaries will get 100% of the policy death benefit.
We always strive to get our clients with Parkinson’s disease to qualify for a level death benefit. We know carriers that don’t even ask about Parkinson’s in their health questionnaire.
If you’re just recently diagnosed with Parkinson’s disease do not delay, apply now while you are still independent and do not need help with activities of daily living.
GRADED DEATH BENEFIT
Parkinson’s patients in Stage 3 (with bilateral involvement with mild postural imbalance but able to lead an independent life) but their symptoms impair activities such as dressing and eating can qualify for a graded death benefit.
A graded death benefit or partial coverage is the next best type of plan for Parkinson’s patients.
If you need home health care, or if you have other medical conditions such as diabetes or high blood pressure in addition to your Parkinson’s disease you may qualify for a graded death benefit. It is the next best option for you if you don’t qualify for a level death benefit.
Your beneficiaries will not get 100% death benefit when you pass away, but they will receive a percentage of the death benefit based on the time since your policy was approved. For example, you purchase a $20,000 death benefit and you die during the first year, and your policy will pay out $8,000 or 40% of the death benefit.
If you die during the second year, the policy will pay out $14,000 or 70% of the death benefit. If you die in the third year, your policy will pay out 100% of the death benefit.
Not all insurance companies or burial plans offer this type of benefit. Check with our agents what companies provide this type of plan.
GUARANTEED ISSUE LIFE INSURANCE
Parkinson’s patients in Stage 4 (with bilateral involvement with postural instability, requires help with activities of daily living) and Stage 5 (severe condition, restricted to bed or wheelchair) are considered in the most advanced and debilitating stage of the disease. It is the final type of burial insurance for Parkinson’s patients in the advanced stage.
If the patient requires a wheelchair or is bedridden, he may qualify for guaranteed issue life insurance. This type of policy does not require a medical exam or ask any health questions.
Guaranteed issue policies have a minimal death benefit that doesn’t exceed $25,000. It has a graded death benefit that comes with a two-year waiting period.
A guaranteed issue policy will be the best option if you can’t qualify for a level death benefit.
All guaranteed issue life insurance offers a return of premium plus interest which is 8-10% in the first two years. If you pass away from a natural cause during the first two years of the policy, your beneficiary will get all the premiums that you paid in, plus 8-10% interest.
WHAT IF I HAVE BEEN DECLINED FOR LIFE INSURANCE?
Many people with Parkinson’s disease that come to us have been declined at least once.
The truth is if you or your agent did not choose the right company, you will surely be declined. That is why working with an independent insurance agency that knows the ins and outs of life insurance is critical.
This is also why working with an independent agency like Funeral Funds will always get you the best rates.
If you cannot qualify for a plan that has immediate coverage, we will help you find the best life insurance company.
You won’t be required to take a medical exam, and we will help you get your application approved quickly.
If your application had been declined in the past, don’t think that you can’t get an affordable life insurance plan through a different company. One of the biggest errors that you can make is to avoid getting covered because of your medical condition.
If you have Parkinson’s disease and are ready to apply for life insurance, we will help you. We work with the best burial insurance carriers in the market, and our job is to get the best plan for you that will fit in your budget.
Funeral Funds specializes in helping people that are placed in the higher risk category. So, whether you have Parkinson’s disease or any other high-risk life insurance, we work with the best carriers that offer the best rates.
We will help you in comparing quotes from different carriers.
HOW CAN FUNERAL FUNDS HELP ME?
Trying to find a policy with a Parkinson’s disease 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 of Parkinson’s disease 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 don’t have to 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 providers 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 Parkinson’s disease funeral insurance, or Parkinson’s disease burial insurance, or Parkinson’s disease 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.