To qualify for burial life insurance with COPD can be a challenge. As you may already know, it can be tough to find affordable burial insurance when you have COPD. Chronic lung disease is one of the hardest issues to cover when it comes to burial insurance.
If someone ever told you can’t get burial life insurance because of your COPD, don’t believe them! Don’t get discouraged because many people with COPD are able to get coverage. There are several ways you can secure affordable burial insurance coverage.
Life insurance is one of the best safety nets that you can purchase for your family. Having life insurance that will cover the cost of funeral and burial is critical. It is one of the ways to ensure that your family will have the money they need when you pass away. While obtaining life insurance isn’t easy with COPD, finding the right life insurance company is the key.
WHAT IS COPD?
Chronic Obstructive Pulmonary Disease (COPD) is a progressive lung disease that causes obstructed airflow to the lungs. The most conventional forms are emphysema, chronic bronchitis, and refractory or non-reversible asthma. COPD is characterized by increasing breathlessness.
COPD is believed to be the result of prolonged exposure to cigarette smoking or asbestos. It causes lung inflammation and degeneration of lung function. Millions of adult Americans have been diagnosed with this disease. It is one of the biggest causes of death in the U.S.
COPD is a progressive and incurable lung disease, but with proper diagnosis and treatment, most people with the disease can achieve good symptom control and quality of life. There are many ways you can manage your COPD and breathe better. You can live for many years with this condition and enjoy life.
Signs and Symptoms of COPD
Symptoms of COPD and progressive lung disease can be different for each person, but the most common symptoms are:
- Shortness of breath although you are sitting still
- Increased breathlessness
- Excessive coughing with or without mucus
- Tightness in the chest that makes it even harder to draw a breath
- A blue tint around the lips and nails or your skin looks grey or yellow indicating a lack of oxygen in your system
- Trouble sleeping
- Loss of appetite
- Uneven breathing
- Headaches during the morning due to low oxygen levels
- Swollen legs or ankles
Different Stages of COPD
There are four different stages of COPD. Each stage is determined by a lung function test called FEV1 (Forced expiratory volume in one second) FEV1 measures the amount of air a person can forcefully exhale in one second of forced breath.
Stage 1 (Mild COPD) occurs when your FEV1 is greater than or equal to 80 percent. It can happen with or without chronic symptoms, noticeable shortness of breath with exertion, excessive mucus, and chronic cough.
Stage 2 (Moderate COPD) occurs when your FEV1 is between 50 and 79%. It can happen with or without chronic symptoms.
Stage 3 (Severe COPD) occurs when your FEV1 is between 30 and 49%. It can happen with or without chronic symptoms.
Stage 4 (Very Severe) occurs when your FEV1 is less than 30%. It is also known as end-stage Chronic Obstructive Pulmonary Disease.
Treatments for COPD
COPD treatment depends on the severity of symptoms but may include:
- Stopping smoking
- Enhanced nutrition
- Oxygen use
GIVE IT TO ME STRAIGHT…CAN I GET BURIAL LIFE INSURANCE WITH COPD?
Getting approved for a burial life insurance policy with COPD is possible. You just need to work with a knowledgeable life insurance agency like Funeral Funds who can assist you to find the right policy that will meet your needs with your pre-existing condition.
If you have COPD, you are not excluded from getting a burial insurance policy. Underwriters will consider different factors before they decide to approve your application. A mild case of COPD may often earn you a level death benefit, meaning you are immediately covered from day one just like a healthy person.
With a moderate case of COPD, where coughing, shortness of breath and other symptoms are present, your application can be impacted. You will need to find a life insurance company that specializes in offering high-risk policies. You can expect to be charged with a higher premium as a result.
A person with severe COPD with less than 50% of lung capacity will have a difficult time finding a life insurance company to write a traditional insurance policy for them. You may need to settle with guaranteed acceptance life insurance with no medical exam or health questions. There is a provision in the policy that states death benefits will not be paid during the first 24 months of the policy being in force.
Many people decide to wait to get a policy. If you can qualify for a level death benefit, buy it now! Because there is no known cure for COPD, the disease will progressively get worse, and the situation will never improve. The more symptoms you develop over the years, the more treatment you get will surely prevent you from your desired level of coverage.
WHAT WILL THE INSURANCE CARRIERS ASK ME ABOUT MY COPD?
To help you prepare for a life insurance application, let’s look at some of the question life insurance providers will ask you about your COPD:
- When were you diagnosed with COPD?
- Have you had a recent diagnostic test like a chest x-ray or Pulmonary Function Test to check the condition of your lungs?
- Do you have other lung issues like asthma, emphysema or chronic bronchitis?
- Were you hospitalized for your COPD? What treatment did you receive?
- Do you smoke?
- What are your Electrocardiographic (ECG) findings?
- What prescription drugs are you taking for your COPD?
WHAT MEDICATION DO THE INSURERS LOOK FOR WHEN I HAVE COPD?
Burial insurance companies will look for your medication to determine whether or not you have COPD. They will not look for your prescription to determine the severity of your condition. Their only purpose is to discover if you have COPD or if you don’t.
Part of burial insurance underwriting is to ask health questions and check your prescription history. The insurance company will electronically check your medical history as a way to verify your medical condition. The prescription check is a critical component of their risk analysis.
There are certain medications they will look for if you have COPD. Here is a list of common COPD medications.
If you ever take these medications, you will be considered as COPD patient.
- Aclidinium bromide
- Anoror Ellipta
- Atrovent HFA
- Ipratropium Bromide
Here are some of the most common dual-purpose COPD and asthma medications that are on the watch list of insurance companies. Both asthma and COPD have the same medications that treat both conditions.
If you are on these medications, it does not mean that the insurance carriers will view you as a COPD patient, but if you have filled a prescription for these medications, it could be for COPD.
If you are drinking any prescription medications to treat your COPD, make sure you disclose that information on your life insurance application.
WILL THESE MEDICATIONS MAKE ME INELIGIBLE FOR BURIAL LIFE INSURANCE WITH COPD?
Some insurance companies look for a combination of certain drugs. If you are taking 2-3 medication combos for asthma and COPD, they may consider you as a COPD patient. It varies from company to company, and they have different procedures to come to these conclusions.
If you are taking any COPD medication, you can still be eligible for burial insurance with COPD. Most individuals with COPD will be able to qualify for burial insurance without a medical exam. But, you will need to apply with a burial insurance company that takes impaired risk cases with relaxed underwriting.
Funeral Funds works with top-rated insurance companies that will qualify you for COPD burial insurance.
WILL I BE REQUIRED TO TAKE A MEDICAL EXAM?
Burial insurance companies do not require a medical exam if you have COPD. If you have a progressive lung disease, a no medical exam policy is your only option.
We will help you find the lowest priced burial insurance policy with immediate coverage, and help you get the type of policy that is suited to your needs and medical condition.
COPD OXYGEN USE AND LIFE INSURANCE
If you are on oxygen to treat your COPD, your only option is a guaranteed acceptance life insurance policy. Every life insurance carrier will ask about oxygen use. If you say yes to oxygen use, you will be flat out declined with every company. The only exception for oxygen use is if you are using it due to sleep apnea.
If you are using oxygen to treat your COPD, this will disqualify you for traditional life insurance coverage. Your COPD condition is severe if you are using oxygen. It is the reason why life insurance carriers won’t accept you if you are on oxygen.
If you’re on oxygen without life insurance, we urge you to take immediate action. Do not procrastinate because guaranteed issue life insurance without a medical exam or health questions will not payout during the first two years. It is why it’s vital to act immediately. You need to start doing away with the waiting period as soon as possible.
DIFFERENT TYPES OF BURIAL LIFE INSURANCE WITH COPD
Level Death Benefit – If you have mild COPD with no other health conditions you will qualify for a level death benefit. Your coverage is immediate, and you don’t have to settle for a two-year waiting period.
If you die four months after your policy is active, your beneficiary will get 100% of the death benefit. It’s the best burial insurance death benefit and always the first to qualify for.
Graded death benefit – this is the next best type of burial insurance. If you have moderate COPD and not healthy enough to qualify for a level death benefit, this is the next benefit level you should try to get.
If you purchase a $10,000 coverage and pass away during the first year, the policy would pay out 30% of the $10,000. If you die during the second year, the policy will pay out 70% of the death benefit.
Modified death benefit – this is the last type of death benefit you should purchase. All guaranteed acceptance life insurance offer this type of benefit.
If you pass away during the first two years of the policy, your beneficiary will get all the premiums that you paid, plus interest usually 10%. All guaranteed issue policies have graded or modified death benefit; none of them offer a level death benefit.
BENEFITS OF BURIAL LIFE INSURANCE
Ease of issue. Easy to qualify and be eligible for insurance coverage. No medical exam is required, you are only required to answer a few health questions.
Level premium. Your premium will never increase for any reason. It is locked into a rate at your approval date age, and the premium will never increase regardless of advancing age or medical conditions.
Tax-free. The death benefit payout is paid to your beneficiary tax-free.
Fixed death benefit. Your death benefit amount is fixed and guaranteed to never decrease for any reason.
You can get a smaller amount of coverage. Burial insurance policy can range from $1,000 to $50,000 you can purchase the amount you need.
Has a cash value component. Burial insurance is a whole life insurance policy that builds cash value over time.
Not cancelable. Your insurance policy can never be canceled by the life insurance carrier as long as premium payments are made on time.
WHAT OPTIONS WILL THE INSURANCE COMPANY OFFER ME?
Every burial insurance plan will ask about COPD, except in the case of guaranteed acceptance life insurance policies which ask no health questions. COPD is a high-risk disease, and it reduces your life expectancy. The reality is people with COPD will die much sooner than those who do not have the disease.
Every life insurance carrier will respond differently to people with COPD. Here are some of the options life insurance companies will offer if you have COPD.
#1 – They will offer you a policy
Some insurance carriers will provide you with a policy with a level death benefit even if you have COPD. Their product can absorb the risk of COPD without charging more premiums or imposing a waiting period. It is rare for a life insurance company not to impose any kind of penalty for persons with COPD.
We only know one company that will do nothing in regards to COPD. They require that you are not initially diagnosed within the last year, and you must be tobacco-free over the previous 12 months. However, your other health conditions may prevent you from qualifying with them. We work with this company, and we are very familiar with their underwriting procedures.
#2 – They will charge you a higher monthly premium
You will have to pay a higher premium compared with someone who does not have COPD. These insurance companies will generally charge you anywhere from 15-40% more.
You will have an immediate death benefit that is 100% payable from day one. There will be no waiting period, but you will be charged more money every month.
It’s not very common for burial insurance companies to only charge you a higher premium but still, pay a level death benefit. We work with the best burial insurance providers that offer this, but most companies do not.
The premium might be higher, but you are covered immediately which is hard to find when you have COPD.
#3 – They will impose a full waiting period
The burial insurance company will offer you a policy but will impose a full waiting period. With most burial insurance companies the waiting period is typically two years.
If you die during this waiting period, they will refund all your paid premiums plus 10% interest. It is still a good option since you do not run the risk of losing any money.
#4 – They will offer you graded benefit
The burial insurance company will impose a two-year waiting period but they are willing to pay a percentage of your death benefit should you die during the waiting period. The most common payout schedule is as follows:
Year 1 – 30% of your death benefit during the first year
Year 2 – 70% of your death benefit during the second year
After the two years have passed, they would pay out 100% of the death benefit. It may not be full protection, but it is indeed better than no protection at all.
#5 – They will impose a combination of penalties
It is the most common route for most burial insurance companies. Some carriers will charge you more money together with a full waiting period. However, some insurance companies will charge you more premiums, and pay a percentage of your death benefit.
HOW TO GET THE BEST BURIAL LIFE INSURANCE RATES WITH COPD?
Finding the best burial life insurance rates when you have COPD is simple. You need the assistance of an independent life insurance agency like Funeral Funds to do the work for you.
An independent life insurance agency represents multiple life insurance companies. They will be able to compare prices from different insurance companies. Doing this will give you the best deal based on your medical situation. Having the ability to compare prices will help you get the best burial insurance rates with COPD.
HOW CAN WE HELP YOU?
There are many life insurance companies on the market today that you can choose from. Some of them are more lenient towards your COPD diagnosis than other carriers. We have worked with many applicants with COPD, and we know the companies that will give you the best plans with immediate coverage.
It is essential to work with us to help you through the process of looking for an affordable burial insurance policy. We will help you get the right insurance company with the best price and best value of coverage.
We specialize in assisting people to find low-cost burial policy to cover for final expenses. Call us at (888)862-9456 if you have any questions about burial insurance with COPD. We will be glad to help you.
Need burial insurance? Instead of wasting hours talking to different agents answering the same questions over and over again, let us do the work for you to find affordable burial insurance.
Fill out our instant QUOTE form on this page and we will give you the best rates available for final expense life insurance.
Funeral Funds is an independent insurance agency that can shop your application to many companies available. This way you can be sure that you are going to get the best carrier that favors your age and health.
We work with the top-rated life insurance companies in the United States, many of which offer immediate coverage with the lowest rates.
If you need help finding burial life insurance, please don’t hesitate to contact us at (888) 862-9456.