Some people worry that due to serious medical conditions, they are not able to get burial insurance and provide their family peace of mind for covering final expenses. GOOD NEWS! For clients with medical concerns, there are policies that are guaranteed issue. Guaranteed issue simply means the insurance company will guarantee the approval of your insurance policy regardless of medical history. (No medical exam burial insurance) Clients must be mentally competent to apply for this coverage but medical conditions will not prevent approval for burial insurance with a guaranteed issue policy.
The approval is quick and easy since there is no medical underwriting required. These policies don’t require any physical exams and ALL health conditions are accepted. Guaranteed Issue Life Insurance is normally more expensive since it’s not medically underwritten. These plans are considered the last option after exhausting all efforts to obtain a preferred Day One coverage policy.
Things to considering when looking to buy a No Medical Exam Burial Insurance policy:
- Instant Approval
- No Medical Exams
- All health conditions are allowed
- All occupations are excepted
- Plans can’t be cancelled due to age or health
- Monthly payment will never increase
- Builds cash value to borrow against
- No waiting period on accidental death
- More expensive than medically underwritten plans
- 2 year waiting period
- Can only purchase up to $25,000
- Only available for ages 50 and up
You should only purchase a No Medical Exam Burial Insurance policy if you have these health conditions:
- Diagnosed or treated for AIDS/HIV
- Received or need to receive an organ or tissue transplant
- You have a life expectancy of 24 months or less
- You currently have cancer
- You currently live in a nursing home
- You are currently on dialysis
- Diagnosed or treated for Dementia or Alzheimer’s Disease
- You are receiving Hospice Care
Best Guaranteed Issue Life Insurance Company
AIG- American General Life Insurance Company
AIG offers a guaranteed issue life insurance policy which is also called guaranteed issue whole life insurance. What makes this senior life insurance attractive is they will cover up to age 85 and issue policies for up to $25,000. Plus, they offer living benefits, including chronic illness and terminal illness riders at NO EXTRA COST on each policy. Living Benefits mean you can borrow against what you have paid in premiums while the policy is still active. These riders are normally extra charges added to your monthly premium with most insurance companies but AIG includes this benefit free of charge. Good value and good pricing make AIG one of our favorite no medical exam Burial Insurance companies.
Full Article on AIG Guaranteed Issue Burial Insurance
Gerber Burial Insurance
Yes, the baby food company offers insurance. Actually, they have been doing so for over 50 years. Their program can cover people from ages 50-80 years old. Coverage amounts offered from $5,000 to $25,000. Once again, there are no exams and instant approval regardless of health. Gerber has excellent pricing and is a go to for Assurance Life when offering guaranteed issue life plans.
Now that you know everyone can get burial insurance, regardless of medical history, let Assurance Life help you get peace of mind for your family to cover your final expenses. We will exhaust all efforts to get you approved for the highest level of coverage possible.
Why it is important to use an independent broker?
This one is very important when looking for no medical exam life insurance. Using an independent agent saves you a lot of money and can save you a lot of time during the buying process. Most independent agents like Assurance Life have access to many Final Expense Insurance Companies that they work with. This is important because each burial insurance company will view your health conditions differently. So finding the right plan and right company based on your individual health situation is critical. This assumes you like to save money and want the right policy for your needs. Buying direct from one insurance company is often not your best option. They will only have one plan available to choose from and only one price. Plus, one company means one set of rules when it comes to underwriting. You need an independent agency with multiple funeral insurance companies working for you to find the most coverage at the lowest price. We even can help you with cremation insurance as well. This is the best way to find no medical exam burial insurance.