Can I Get the Final Expense Insurance with a Pre-Existing Condition?

No matter what kind of diet you have or how much time you spend in the gym, like everyone else, you too are destined to pass away one day. But when you leave, you won’t wish to put any additional financial burden on your loved ones. Final expense insurance is meant to do the same for you. These policies cover all the expenses associated with a funeral ceremony and allow the family to grieve in peace. Still, everyone isn’t informed about the benefits of funeral expense policies and why they should consider having such a plan. Here, we are providing the answers to some important questions related to final expense insurance.

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Why is a funeral insurance necessary?

Funeral insurance policies are designed with the purpose to take care your or your loved ones’ funeral expenses. We all have to depart one day but you won’t wish your loved ones to deal with the arrangements of funeral expenses rather than grieving in peace. However, there are life insurance policies that take care of your burial expenses and if you have bought one, you may not need to buy a final expense insurance specifically for funeral expenses. But, if you can’t afford to buy a life insurance just to receive the funeral or couldn’t get one due to some unknown reasons, you can consider a funeral expense plan for the same.

How much funeral cover do I need?

The amount of funeral coverage you may need depends on how you want to be remembered. Usually, the cost of a basic funeral ranges from $8,000 to $12,000 and may go higher for a specifically-tailored funeral. People prefer different funeral processes depending on their traditions as well as their personal beliefs. For example, you may prefer a burial process followed by a memorial ceremony while someone else may like to be cremated followed by their ashes to scattered in a river. Depending on your type of funeral and additional services you want, your right coverage may vary. Whatever may be the requirements, you are supposed to talk to an insurance expert about the available funeral policies. They will suggest you the funeral insurance plans with desired coverage and help you receive a cheap final expense life insurance for seniors.

Can I get a plan with a pre-existing illness?

Yes. With a pre-existing illness as well, you can qualify for a funeral expense plan. Generally, there are two types of funeral expense plans offered: Guaranteed Issue policies and Medically Underwritten policies. Under a guaranteed issue policy, everyone with or without any pre-existing illness may qualify to get a burial expense insurance. This plan doesn’t need you to undergo any medical examination or even answer the questions about your health status. You are eligible to get an insurance all kinds of existing conditions and the final expense insurance companies can’t deny the same. However, these insurance plans have a bit expensive premium but it’s a great option if you can’t afford to buy a life insurance plan just funeral expense benefits or couldn’t get one due to your pre-existing conditions.

However, the insurance options for final expenses doesn’t limit here. Along with the guaranteed issue policies, there medically underwritten policies that provide a unique option to funeral expense insurance at cheaper prices. Medically underwritten policies properly analyze the present health condition of the person to be insured and provides a premium accordingly. You may need to undergo a medical examination and answer a few questions about your past health issues to better determine your insurability. Under these plans, you don’t need to pay a comparatively expensive premium, if you are in a sound health condition. If you have been conscious about your health and have taken the necessary health precautions till now, you will reap your rewards here. You will qualify to get an insurance premium cheaper than someone who didn’t care for their health and aren’t in a pretty good health condition. Depending on your situation you may find an insurance policy more suitable than other and buy a plan accordingly.  

Will the premium change in future?

No. Final expense premiums are decided after a thorough analysis of your health conditions, the coverage required and the way you want your funeral to take place. Depending on these factors, the insurance premium for a burial expense plan may vary but once the premiums are decided they aren’t subject to change under any conditions. That means if you were in a good health condition but didn’t undergo a medical examination and got a guaranteed issue plan at a comparatively expensive premium, you will have to pay the same premium for life, no matter what. But, the positive thing is that if you were in a sound health condition while going for a medically underwritten policy and got a cheaper insurance premium, you will pay the same premium even if your health deteriorates later.

How to apply for a final expense plan?

A few of you may doubt the claim but this is the most important part of getting a cheap funeral expense plan. To get your funeral expense plan at a cheaper premium, you need not hurry. You are supposed to talk with various insurance providers and patiently compare their plans. You can visit the official websites of the reputed insurance providers in your state and request a quote there. Just by filling an online form on their websites, you can receive multiple final expense insurance quotes from different providers. Depending on your requirements and budget constraints, you can filter top 3 insurance quotes and further talk to their agents about the same. To receive a cheaper final expense insurance quote, you can also ask them about the possible discounts and choose a plan accordingly.

About Author:: Ryan Polimeni is the owner of Optinsure.com and has been providing insurance-related support and services since he was just 22. Owing to his knowledge and expertise, Ryan got his own insurance license at a pretty young age and has been providing his premium services to receive Cheap Insurance Quotes Online to a huge clientele group.

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