Burial insurance is guaranteed issue insurance. This means that no medical exam is required, and seniors do not have to fill out and answer lengthy health questionnaires to qualify for these benefits.
Any senior can be approved for burial insurance coverage regardless of pre-existing conditions. However, the pre-existing conditions may cause a hurdle.
If you or a senior loved one in have found that they cannot qualify for a simplified issue policy because of health, then burial insurance is something to consider.
Many of the biggest health conditions and concerns are accepted by at least one insurance company when it comes to qualifications for burial insurance with pre-existing conditions. So, if you have a high-risk health condition, this insurance plan is available through many companies.
Even though there likely won't be a lengthy health questionnaire to fill out, you will still have to answer a few health questions. The insurance company may also choose to review your prescription history and your Medical Information Bureau file for any relevant records.
Most companies can give you an answer within minutes, which makes this kind of insurance easy to apply for and easy to qualify for.
Each company will have its own underwriting standards they will adhere to during the eligibility process. When you have pre-existing health conditions, the health questions will be an important part of the process.
High-Risk Pre-Existing Conditions
Some health conditions that are considered high-risk and pre-existing include, but are not limited to:
- Bipolar disorder
- Blood clots
- Congestive heart failure
- Kidney Disease
One of the other main determining factors for eligibility is the person's current and most recent health history. This will help determine your rates and the options available to you. Even with these pre-existing conditions, it is still easy to apply for and qualify for burial insurance.
The insurance carrier will most likely do a prescription drug background check. They will use this information and compare it to the answers you gave during your health survey. Some will have their own set of prescription drugs outlined that they will not accept.
Medical Information Bureau
An MBI review is also common. This report contains information regarding life insurance policies you have applied for in the past. The burial insurance company will review this information and will compare it to the information given to them by the applicant.
Bottom line? Make sure you are truthful when talking with the insurance company. Do not try to hide any pre-existing conditions or prescription drugs you may be taking. This can be an immediate cause for disqualification.
The Next Steps
Once all the information has been reviewed, and the risk has been assessed, the insurance company can make its decision. They will consider your pre-existing conditions and how they affect you before making their decision.
While burial insurance is easy to qualify for, it is still something you may need help navigating. Don't hesitate to contact the experts at https://burialinsurancenetwork.com in today for more information.