Can I Get a Final Expense Policy with Dementia or Alzheimer’s?

Kim Wilhelm CEO of Final Expense Direct Life Insurance
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Written by Kim Wilhelm

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Last Updated 30 Nov 2021

Yes, you can get a final expense policy with dementia or Alzheimer's. Guaranteed issue policies accept older individuals with preexisting and chronic conditions.

Why It’s Difficult to Get Life Insurance Coverage with Dementia or Alzheimer's

Dementia and Alzheimer’s patients need and want senior life insurance coverage as much (if not more) than a healthy person. However, life insurance policies do not accept people with these conditions. 

Unfortunately, the risk of insuring someone at high risk is not an option for most insurance companies. Dementia and Alzheimer’s patients also often need the help of others to get them coverage, another factor that companies do not want to manage.


The Alzheimer Life Insurance Solution? 

So, if you or a loved one have dementia or Alzheimer’s, you’re left to fend for yourselves, right? No—final expense is a life insurance option available to those who suffer from chronic (diabetes), terminal (cancer), and preexisting conditions.

But don’t think of it as your only option—a “last resort.” In fact, many perfectly healthy people purchase final expense as a way to cover vital costs for themselves and their loved ones.

When you purchase a final expense plan, you are purchasing what is called a death benefit. Death benefits are a sum of money that is passed on to beneficiaries once the policyholder passes away. For final expense, this will be anywhere from $2,000 to $50,000. You can then use this money for your funeral costs, medical bills, and more.

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Let’s Get More Specific—Guaranteed Issue for Dementia or Alzheimer's Patients

There are two different types of final expense insurance—guaranteed issue and simplified issue. Both of these plans provide identical coverage. This means that you can purchase a policy and receive a death benefit in the same way. 

Simplified issue requires a short, easy questionnaire on your health. This will, then, exclude dementia and Alzheimer’s patients. Guaranteed issue, on the other hand, accepts virtually all applicants regardless of health. These policies will not require any medical questionnaire or examination for acceptance.

Bear in mind that simplified issue will cost a bit less than guaranteed issue. This is because there is “assumed risk” when the insurer knows nothing about your health with guaranteed issue. However, this difference is more than worth it for full, excellent, and comprehensive coverage, even with dementia or Alzheimer’s.

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Why Dementia or Alzheimer's Patients Benefit From Final Expense

The question is, then, why would dementia or Alzheimer’s patients want final expense insurance? Like all final expense policyholders and beneficiaries, the cost coverage it provides is extremely beneficial. And, for dementia and Alzheimer’s patients, it provides fantastic benefits even when all other insurance policies deny you coverage.

Looking for Insurance Guidance? Call Final Expense Direct

Final Expense Direct prides itself on customer service with honesty and integrity. With an A+ BBB accredited rating that few others can boast, you know that you are getting the best advice, best care, and best policy in Houston. To learn more about what Final Expense Direct can do for you, give us a call today at 1-877-674-0236.

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