Many people with heart conditions wonder about getting burial insurance with cardiomyopathy. Having cardiomyopathy doesn’t have to mean you forgo the peace of mind that comes with securing burial insurance for your family. The first step in getting approved for whole life insurance with heart conditions is knowing what companies specialize in coverage for clients with certain health conditions. Assurance Life specializes in finding the right coverage for your individual needs. Let us help you with finding your burial insurance with cardiomyopathy.
Determining your burial insurance needs
There are many burial insurance companies offering different amounts of funeral insurance. Before you get a quote, you will want to decide on an amount that will cover your family’s needs upon your death. The factors to consider are funeral cost, any debts you want paid, and monies to leave behind to family members. Common amounts of whole life insurance policies used for burial insurance are $5000, $8000, and $10000. Deciding on cremation or burial, extra offerings for final arrangements, and debts owed affect the death benefit needed the most.
How cardiomyopathy affects burial insurance approval
There are different types of cardiomyopathy so when considering burial insurance plans, it is important to consider when the diagnosis occurred and what treatment you have had. When clients apply for funeral insurance, often they use one company that they are familiar with or go with a local agent. The problem with one company or one agent is that they often do not have access to the companies that offer the best coverage for clients with a history of cardiomyopathy.
Getting approved for burial insurance with cardiomyopathy is best done by using an insurance broker. A broker has access to numerous companies and instead of working for the insurance company, a broker works for YOU- the client. Assurance Life is an insurance broker who helps clients with cardiomyopathy find the best burial insurance for their unique needs.
Types of burial insurance with cardiomyopathy
There are three basic types of whole life insurance which is also called burial insurance or funeral insurance. All three are available for patients with cardiomyopathy and figuring out which one applies to you is best done by getting a FREE QUOTE from an insurance specialist.
Preferred coverage– meaning you have coverage from DAY ONE as soon as the first payment is made. Assurance Life specialists know which companies can offer clients with a history of cardiomyopathy preferred coverage. For most companies, the diagnosis would have to be more than two years old with the condition resolving and not requiring ongoing treatment.
Considering there are four types of cardiomyopathy, maybe the type you or your loved one has falls under this category and immediate burial insurance coverage is available. Most are surprised that people with a history of heart disease have DAY ONE coverage available but that goes to show you how important it is to shop numerous companies the way a broker can.
Graded coverage– death benefit transitions in over a two year period. Graded coverage usually applies for clients who have been diagnosed between 18 and 24 months and it depends on the treatment recommended by your doctor. This option is a small window between the preferred coverage and the third option of guaranteed issue coverage. Assurance Life can help you find companies that offer the graded coverage if you are in between the two other types.
Graded means that in the first year, the death benefit is paid out at a certain percentage such as 40%. Then that amount goes up in the second year to amount such as 75%. Finally, after two years, the full death benefit would be paid out. If something happens with the cardiomyopathy diagnosis during that time, you policy stays secure and active regardless of any changes in health conditions.
Guaranteed Issue– two year waiting period before death benefit would be paid out. If your cardiomyopathy is under a certain kind of treatment or has been diagnosed within the last 18 months, usually that means you will qualify for a guaranteed issue policy. Thankfully every client, regardless of health conditions, can get approved for burial insurance even with cardiomyopathy. Assurance Life can find you the company with the best rates for your death benefit needs and health conditions.
Easy application and approval process even with cardiomyopathy
Some people think just because their health is poor or they have past health conditions that applying for whole life insurance is a long complicated process. The good news is that the application takes around 10 minutes and you have access to your FREE QUOTE after just a short series of yes and no questions. Once you are approved, there is no medical exam needed and the rest of the process can be done over the phone or online. Assurance Life uses reputable, nationwide companies such as Mutual of Omaha, Gerber Life, AIG, and Family Benefit so you can have confidence that you are getting protection for your family from a name brand company with a long track record of taking care of people’s life insurance needs.
There are a couple ways to get started with applying for your burial insurance with cardiomyopathy. Don’t let your worries about your health stop you from getting peace of mind for you and your family so that your final expenses are taken care of when your family needs it the most. Many people feel overwhelmed in how to get started when they know they have a history of heart disease. Assurance Life can help make this a simple process.
Call 800.517.0810 to speak to one of our qualified brokers. You will be surprised to see how quickly we are able to get you approved for burial insurance with cardiomyopathy whether you have a long history with heart problems or it is a recently diagnosed issue. Give your heart a break and rest easy knowing you can get the most coverage at the lowest monthly premium with a reliable whole life insurance company suited just for your needs.