Burial Insurance with Schizophrenia

Getting burial insurance with schizophrenia is possible. There are many companies in the market today that don’t even ask about schizophrenia in their health questions.

Because schizophrenia is a mental health condition that is frequently misunderstood and misrepresented in our society, people with this condition often feel intimidated by the prospect of applying for insurance.

Every life insurance carrier sets its own approval guidelines, and some companies are more lenient with applicants who have been diagnosed with schizophrenia than others.

We have helped many clients with schizophrenia find first-day coverage and the lowest cost of burial insurance, and we can help you too.

FOR EASIER NAVIGATION:

WHAT IS MY BEST INSURANCE OPTION IF I HAVE A HISTORY OF SCHIZOPHRENIA?

If you have schizophrenia and you have no other medical issues, your best option is a level death benefit plan with first-day coverage.

There are insurance companies that don’t care about schizophrenia. These companies allow you to secure immediate coverage at low rates. They provide 1st-day coverage from the date they issue the policy.

Best Option: Level Death Benefit with First-day Coverage


LEVEL DEATH BENEFIT PLAN ADVANTAGES

If you are diagnosed with Schizophrenia and undergoing treatment for this condition you may qualify for level death benefit with the following guarantees:

  1. Instant coverage. You are fully protected from the first day your coverage goes into effect, and there is no waiting period.
  2. Easy to qualify. You skip the medical exam. You only need to answer some health questions.
  3. Level premium. Your monthly premium is fixed as long as you continue paying your premium on time. It is guaranteed to never increase because of advancing age or worsening health condition.
  4. The death benefit will never decrease. Your beneficiaries will receive the amount on your policy when you pass away.
  5. Tax-free. Your death benefit will be paid to your beneficiaries free of tax. They will generally not owe any income tax on the death benefit.
  6. Not cancellable. Your policy can never be canceled by the life insurance company as long as premium payments are made on time.
  7. Common Carrier Accidental Rider included in the plan which provides an additional death benefit if you die due to accidental injuries that happen while riding as a fare-paying passenger on a common carrier, such as bus, train or plane.


SCHIZOPHRENICS WHO CANNOT PERFORM ACTIVITIES OF DAILY LIVING ON THEIR OWN

A schizophrenia patients inability to function in normal daily activities can lead to denial for a level death benefit plan.

People with schizophrenia may have difficulty taking care of their physical health, which may affect their eligibility.

If you have schizophrenia and you cannot perform activities of daily living on your own such as eating, bathing, dressing, transferring, and continence, there’s still an insurance policy open for you.

Best Option: Guaranteed Issue Burial Insurance

Guaranteed issue final expense insurance is whole life insurance that never expires due to age or worsening health condition.

Guaranteed acceptance life insurance policies typically cost more than traditional life insurance policies but every insurance company has different pricing.


WHAT TYPES OF BURIAL INSURANCE SHOULD I AVOID?

PLANS TO AVOIDWHY?
Term lifePremiums increase after 5 years. Coverage ends after 80.
Pre-paid funeral plansExpensive
Universal lifeTied with stocks
No health questions policiesWith 2-year waiting period
Plans offering "teaser rates"$9.95 per unit plans or $1 buys $30,000 coverage
Over priced plansInsurance from TV and junk mail
Plans that accept mail-in paymentsRisky
Plans that accept Direct ExpressHigh lapse rate
Plans that accept Credit CardsHigh lapse rate


WHAT TYPE OF BURIAL INSURANCE IS BEST?

FUNERAL FUNDS PLANFEATURES
1st Day CoverageYES
Lifetime CoverageYES
Rates NEVER IncreaseYES
Coverage NEVER DecreasesYES
Easy To Get ApprovedYES
FUNERAL FUNDS INSURANCE BENEFITS 
Rates Never IncreaseYes
Coverage Never DecreasesYes
No Medical ExamYes
Same Day ApprovalYes
Death Claims Pay FastYes
Builds cash valueYes
Coverage Up To Age 121 Yes


IF I HAVE SCHIZOPHRENIA, DO I NEED A MEDICAL EXAM TO QUALIFY FOR BURIAL INSURANCE

When applying for a final expense plan with any of our carriers, you will not have to submit to a medical examination. You don’t need to submit blood and urine samples either.

You will only have to answer some questions about your health.


UNDERWRITING BURIAL INSURANCE WITH SCHIZOPHRENIA

Every final expense insurance company with 1st-day coverage will ask some basic health questions.


HEALTH QUESTIONS

Some insurance companies do ask about schizophrenia in their health questions. You may see it asked in different ways because every company has different underwriting requirements.

Here are some examples of the various ways schizophrenia appears in the health questionnaire:

  1. In the last two years, have you been diagnosed or treated for schizophrenia?
  2. In the last two years, have you been diagnosed or treated for a mood disorder like bipolar or severe depression?
  3. In the last two years, have you been diagnosed for any form of psychosis?
  4. In the last two years, have you been hospitalized due to depression, anxiety, or any other mental health disorder?

Different insurance companies use different lookback times but two years is the most common.

If insurance companies don’t ask about schizophrenia, it means they don’t care about it, and you will qualify for first-day coverage with the lowest price and no waiting period.


HOSPITALIZATION QUESTION

It’s entirely possible for a schizophrenic patient to experience an episode that leads to a temporary hospitalization. Some insurance carriers have a health question that asks if you have been hospitalized within the last 6 or 12 months.

If you have been hospitalized recently, we will place you on the insurer that does not ask about hospitalization.


PRESCRIPTION HISTORY CHECK

Aside from the health questions, the insurance companies will conduct a prescription history check as part of their underwriting process. They do a prescription history check to verify your health and past medical history.

Here’s a list of common medications for schizophrenia that most insurance companies are on the lookout for.

If you are taking any of these prescription drugs, it will indicate that you are being treated for schizophrenia.

  • Aripiprazole (Abilify)
  • Asenapine (Saphris)
  • Brexpiprazole (Rexulti)
  • Cariprazine (Vraylar)
  • Chlorpromazine (Thorazine)
  • Clozapine (Clozaril)
  • Fluphenazine (Prolixin)
  • Haloperidol (Haldol)
  • Iloperidone (Fanapt)
  • Lurasidone (Latuda)
  • Olanzapine (Zyprexa)
  • Paliperidone (Invega)
  • Perphenazine (Trilafon)
  • Thiothixene (Navane)
  • Trifluoperazine (Stelazine)
  • Quetiapine (Seroquel)
  • Risperidone (Risperdal)
  • Ziprasidone (Geodon)

These drugs may help control your symptoms. If you are taking any of these to keep your schizophrenia under control, you can still get great rates on your life insurance coverage.

If you are looking for funeral insurance with schizophrenia, you will find that most of the companies we work with will don’t care about your schizophrenia. You will easily qualify for level rates and 1st-day coverage with no waiting period.


HOW MUCH INSURANCE DO I NEED IF I HAVE SCHIZOPHRENIA?

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$2,195
Removal/ transfer of remains to funeral home$350
Embalming & preparation of the body$1,005
Use of facilities for viewing & funeral ceremony$925
Hearse$340
Service car/van$150
Basic memorial printed package$175
Metal casket$2,500
Vault$1,495
Median Cost of a Funeral With Viewing and Burial$9,135

AVERAGE FUNERAL COST WITH VIEWING AND CREMATION 
Non-declinable basic services fee$2,195
Removal/ transfer of remains to funeral home$350
Embalming & preparation of the body$1,005
Use of facilities for viewing & funeral ceremony$925
Service car/van$150
Basic memorial printed package$175
Cremation fee (if firm uses a third-party crematory)$350
Median Cost of a Funeral with Viewing and Cremation$5,150
Cremation Casket$1,200
Rental Casket$995
Alternate Cremation Container$150
Urn$295

HOW SHOULD I PAY MY PREMIUMS?

PAYMENT METHODRECOMMENDED?
Savings AccountBest way to pay
Checking AccountBest way to pay
CashNot recommended
Money OrderNot recommended
Cashier's CheckNot recommended
Debit CardNot recommended
Credit CardNot recommended
Direct ExpressNot recommended
PAYMENT FREQUENCYRECOMMENDEDACCEPTED BY
MonthlyRecommendedAll Companies
QuarterlyNot RecommendedSome Companies
Semi-annuallyNot RecommendedSome Companies
AnnuallyNot RecommendedSome Companies


SCHIZOPHRENIA AND BURIAL INSURANCE RIDERS

You may have the option to add a policy rider(s) to your basic policy. Insurance riders add benefits to your policy. Adding insurance riders can enhance your policy to fit your specific needs.

Some riders can be added to your policy without additional cost. However, some riders come with some extra costs. Don’t worry; riders are affordable, and it involves little to no underwriting.

FUNERAL FUNDS ADD-ONSAVAILABILITY
Terminal Illness Add-On BenefitIncluded with most plans
Nursing Home Care Add-On BenefitIncluded with most plans


FINDING AFFORDABLE BURIAL INSURANCE WITH SCHIZOPHRENIA

The path to the lowest rates on burial insurance or cremation insurance with schizophrenia is to qualify for a policy that has health questions and minimal underwriting.

One of the most important steps you make toward getting first-day coverage is to work with an independent life insurance agency like Funeral Funds that has sufficient experience and has access to multiple burial insurance companies.

We will shop your case to different carriers to determine the one that looks at schizophrenia favorably.

If you or a family member is being treated for schizophrenia and looking for burial insurance with immediate coverage, call us at (888) 862-9456.


HOW CAN FUNERAL FUNDS HELP ME?

Trying to find a policy with a Schizophrenia 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 Schizophrenia, 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 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 Schizophrenia funeral insurance, or Schizophrenia burial insurance, or Schizophrenia 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.

Funeral Insurance, Final Expense Insurance, Burial Insurance With Schizophrenia Infographics

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