2024 Burial Insurance with Schizophrenia
last updated on April 3, 2024Getting 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.
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?
- What Types of Burial Insurance Should I Avoid?
- What Type of Burial Insurance Is Best?
- If I Have Schizophrenia, Do I Need A Medical Exam to Qualify for Burial Insurance?
- Underwriting Burial Insurance with Schizophrenia
- How Much Insurance Do I Need If I Have Schizophrenia?
- How Should I Pay My Premiums?
- Schizophrenia and Burial Insurance Riders
- Finding Affordable Burial Insurance with Schizophrenia
- How Can Funeral Funds Help Me?
- Additional Questions & Answers On Burial Insurance With Schizophrenia
What Is My Best Insurance Option If I Have A History Of Schizophrenia?
If you have schizophrenia and 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:
- Instant coverage. You are fully protected from the first day your coverage goes into effect, and there is no waiting period.
- Easy to qualify. You skip the medical exam. You only need to answer some health questions.
- 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 conditions.
- The death benefit will never decrease. Your beneficiaries will receive the amount on your policy when you pass away.
- 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.
- Not cancellable. Your policy can never be canceled by the life insurance company as long as premium payments are made on time.
- Common Carrier Accidental Rider included in the plan provides an additional death benefit if you die from accidental injuries while riding as a fare-paying passenger on a common carrier, such as a bus, train, or plane.
SCHIZOPHRENICS WHO CAN NOT PERFORM ACTIVITIES OF DAILY LIVING ON THEIR OWN
A schizophrenia patient’s 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.
Suppose you have schizophrenia and you cannot perform activities of daily living on your own such as eating, bathing, dressing, transferring, and continence. In that case, 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 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 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:
- Have you been diagnosed or treated for schizophrenia in the last two years?
- Have you been diagnosed or treated for a mood disorder like bipolar or severe depression in the last two years?
- Have you been diagnosed with any form of psychosis in the last two years?
- Have you been hospitalized for depression, anxiety, or other mental health disorders in the last two years?
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
A schizophrenic patient can 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 looking 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 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.
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 involve little to no underwriting.
| FUNERAL FUNDS ADD-ONS | AVAILABILITY |
|---|---|
| Terminal Illness Add-On Benefit | Included with most plans |
| Nursing Home Care Add-On Benefit | Included 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 with health questions and minimal underwriting.
One of the most important steps toward getting first-day coverage is to work with an independent life insurance agency like Funeral Funds that have sufficient experience and 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 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 to find the plan that fits your financial requirements and budget. You don’t have to waste your precious time searching for multiple insurance companies because we will do the dirty work for you.
We will shop your case at different insurance carriers and get you the best price.
We work with many A+ rated insurance carriers that specialize 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, 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.
Additional Questions & Answers On Burial Insurance With Schizophrenia
Can I get life insurance if I have schizophrenia?
Yes, you can get life insurance if you have schizophrenia. You may even qualify for a first-day coverage plan to some life insurance companies that don’t ask about schizophrenia.
Is schizophrenia a critical illness?
No, schizophrenia is not a critical illness.
Does schizophrenia affect your life insurance?
No, schizophrenia does not affect your life insurance. The insurance company will not ask about your diagnosis when you apply for coverage. However, you may need to provide more information if you have a history of mental illness or hospitalization.
Can I get burial insurance if I have schizophrenia?
Yes, you can get burial insurance if you have schizophrenia.
Does life insurance cover death from suicide?
Death from suicide is typically not covered by life insurance policies. However, insurance companies will cover suicide after two years after the policy has been active.
What is the life expectancy of a schizophrenic?
The life expectancy of a schizophrenic is typically reduced by about 10-15 years. However, some people with schizophrenia live full and productive lives.
Can you get first-day coverage insurance if you have schizophrenia?
Yes, you can get first-day coverage insurance if you have schizophrenia.
Are there any special policies for schizophrenics?
Some life insurance companies do offer special policies for schizophrenics. These policies usually have lower premiums and higher deductibles. However, they also offer more comprehensive coverage.
Can I get funeral insurance if I have schizophrenia?
Yes, you can get funeral insurance if you have schizophrenia. Funeral insurance is typically not affected by mental illness.
Does schizophrenia shorten lifespan?
Yes, schizophrenia has been shown to shorten lifespan. This is likely due to the increased risk of death from suicide or other health complications.
What is my best insurance option if I have schizophrenia?
Your best insurance option will depend on your individual needs and circumstances. However, some companies do offer special policies for people with schizophrenia. These policies usually have lower premiums and higher deductibles.
Can you get life insurance if you’re on antidepressants?
Yes, you can get life insurance if you’re on antidepressants. However, you may need to provide more information if you have a history of mental illness or hospitalization.
Can you get life insurance if you’re on antipsychotics?
Yes, you can get life insurance if you’re on antipsychotics. However, you may need to provide more information if you have a history of mental illness or hospitalization.
Is schizophrenia the most severe mental illness?
No, schizophrenia is not the most severe mental illness. However, it is a serious mental illness that can cause significant impairment in daily life.
Can you get life insurance if you have a mental illness?
Yes, you can get life insurance if you have a mental illness. However, you may need to provide more information if you have a history of mental illness or hospitalization.
Does seeing a psychiatrist affect life insurance?
No, seeing a psychiatrist does not affect life insurance. However, you may need to provide more information if you have a history of mental illness or hospitalization.
Do I need to tell my life insurance company about my mental illness?
No, you do not need to tell your life insurance company about your mental illness. However, you may need to provide more information if you have a history of mental illness or hospitalization.
Is mental illness considered a pre-existing condition?
A mental illness diagnosis is considered a pre-existing condition, and you may need to provide more information if you have a history of mental illness or hospitalization.
Can I get cremation insurance if I have schizophrenia?
Yes, you can get cremation insurance if you have schizophrenia. Cremation insurance is typically not affected by mental illness.
What are the things that may affect my eligibility if I have schizophrenia?
The things that may affect your eligibility if you have schizophrenia include your age, health history, and occupation. However, each life insurance company has its own set of rules and regulations, so you will need to speak with an agent to find out if you are eligible for coverage.
Do I need to take a medical exam if I have schizophrenia?
No, you do not need to take a medical exam if you have schizophrenia. However, you may need to provide more information if you have a history of mental illness or hospitalization.
Do you have to declare schizophrenia to insurance?
Yes, you will need to declare your schizophrenia to your insurance company. However, you may not need to take a medical exam if you have a history of mental illness or hospitalization.
How long does it take for life insurance to kick in?
Most life insurance policies will kick in immediately upon the first premium payment. However, some policies may have a longer waiting period. You will need to speak with an agent to find out more information about your specific policy.
Does schizophrenia affect final expense insurance?
No, schizophrenia does not typically affect final expense insurance. However, you may need to provide more information if you have a history of mental illness or hospitalization.
What is the average life expectancy for someone with schizophrenia?
The average life expectancy for someone with schizophrenia is approximately 10-15 years shorter than the general population. This is due to the increased risk of death from suicide or other health complications.
Is schizophrenia a permanent disability?
No, schizophrenia is a permanent disability that can cause significant impairment in daily life if left untreated.
How much does life insurance cost for someone with schizophrenia?
The cost of life insurance for someone with schizophrenia will vary depending on the life insurance company and the specific policy. However, you may be able to find affordable coverage if you shop around and compare quotes from multiple companies.
Can you be denied insurance for schizophrenia?
Yes, you can be denied insurance for schizophrenia. However, each life insurance company has its own set of rules and regulations, so you may be able to find coverage if you shop around and compare quotes from multiple companies.
What are some tips for getting life insurance with schizophrenia?
Some tips for getting life insurance with schizophrenia include shopping around for the best rates, comparing quotes from multiple companies, and declaring your condition to your insurer.
Is anxiety and depression a pre-existing condition?
Mental illness is a pre-existing condition, and you may need to provide more information if you have a history of mental illness or hospitalization.
Can I get life insurance if I’ve attempted suicide?
Yes, you can get life insurance if you’ve attempted suicide. However, you may need to provide more information about your condition and history of mental illness.
What is the average cost of life insurance for someone with schizophrenia?
The average cost of life insurance for someone with schizophrenia will vary depending on the life insurance company and the specific policy. However, you may be able to find affordable coverage if you shop around and compare quotes from multiple companies.
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2 Comments
Susy Delgado
Looking for burial insurance for my Son, living with schizophrenia paranoia
Funeral Funds
We do have an insurance carrier that will accept schizophrenia. Call us at (888) 862-9456.