Buying burial insurance after a heart attack can be a challenge. In fact, most clients that we talk to don’t think they can buy life insurance after they have suffered a heart attack. Hopefully, this article can give you some insight on how burial insurance companies look at heart problems and how to find the best burial insurance plan that fits your needs related to your health conditions. Burial insurance is an important protection that people buy to protect their families against financial burden caused by expensive funeral cost and final expenses.
The good news is that there is a burial insurance policy for every person, regardless of their current or prior heart health. These funeral insurance plans are called whole life insurance. People with heart health issues should consider whole life insurance as the best burial insurance after a heart attack. Click here for our 2018 best burial insurance companies.
The benefits of whole life insurance are:
1. No Medical Exams
2. Easy application with simple yes or no questions
3. Policy can’t be cancelled due to age or health
4. Whole life insurance builds cash value
5. Your monthly premiums WILL NEVER go up – Low Cost
6. Policies available from ages 0-85 years old
7. No health questions on guaranteed issue burial insurance policies
Assurance Life specializes in helping individuals buy burial insurance even if after having a heart attack. Since a heart attack happens every 20 seconds in the US, we run into this often. Call us at 800-517-0810 to help you in the process.
So, now let’s get to the heart of it…
Can you purchase Burial Insurance after a heart attack?
The answer is ABSOLUTELY YES! However, all burial life insurance companies have different underwriting procedures and guidelines and most will look at heart attacks differently. This is why it’s important to use an independent broker like Assurance Life. Since we work with 25 different burial insurance companies, we know which companies are more favorable when it comes to heart attacks. Having this knowledge can save you thousands of dollars over time and ensure you get the best coverage that fits YOUR needs.
Will a heart attack cause me to have a waiting period?
Waiting periods vary with each company and each client’s unique health situation. The most important factor is TIME! ALL final expense life insurance applications will ask about heart attacks or other heart conditions but the most critical factor that effects the waiting period is how long ago the heart attack occurred. Sometimes the type of medication you are currently taking for your heart could affect your underwriting decision but most often TIME is still the determining factor.
If your heart attack occurred more than 24 months ago you will qualify for preferred coverage. Preferred coverage simply means Day 1 coverage without a waiting period. Burial life insurance with no waiting period means your death benefit would paid out immediately. Preferred coverage is the best burial insurance coverage available and also has the best priced plans as well. If your heart attack occurred within the past 18 months, Assurance Life works with companies who would offer a graded policy based on this time frame. Graded burial insurance policy means that your death benefit would paid out in a portion the first and second years. So simply put, you would have partial waiting period on payment of your death benefit- 30% year one and 70% year is an example.
Here is a great example of why using a broker is so important. There are some companies that decline an applicant who has had a heart attack in the past 18 months. If you only had that company to work with, you would be left with the impression that you aren’t eligible for burial insurance. So once again, having access to multiple companies could greatly help you get the best burial insurance after a heart attack. Assurance Life can help you get the best price and the best coverage.
What are my options if I had a heart attack within the past 6 months?
Unfortunately, you won’t have many options during this timeframe. Your best bet is a guaranteed issue policy from either AIG or Gerber. Both of these companies specialize in guaranteed issue life insurance. These plans don’t ask any health questions and your acceptance is Guaranteed. Simple application and easy online setup. However, these plans will cost you more and ALL will have a mandatory waiting period of two years before your death benefit would be paid out.
Why Assurance Life?
When dealing with heart problems, it’s very important to allow someone with expertise help you find the right plan for your specific health condition. Assurance Life only specializes in Burial Insurance plans for final expenses. We are experts in final expense policies and help individuals daily to find the best burial insurance after a heart attack. Contact us at 800-517-0810 and one of our licensed specialist will assist you on finding a burial insurance plan that will protect your family from financial hardship.