Coverage for Pre existing Conditions

Written by Kim Wilhelm

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Last Updated 14 Apr 2024

Have you heard that private insurance companies will always deny coverage for applicants with pre-existing conditions? Perhaps you've been denied health insurance coverage or life insurance coverage? The good news is that there are insurance companies that will provide coverage to individuals with pre-existing conditions; you just have to know where to look.

Burial insurance accepts most applicants, regardless of poor health conditions. Let's take a look at how it works.

What Are Pre-Existing Conditions?

Pre-existing conditions are health problems that you may suffer from before you apply for coverage. Having a medical problem may be seen as carrying a higher risk, which is why you may be denied coverage by life or health insurance companies.

Pre-existing conditions may be treatable, terminal, congenital, or something you've recently been diagnosed with and received treatment for. Your medical history can count against you, depending on the type of plan you are applying for and the insurance carrier you are applying to. Policies that accept pre-existing conditions may charge higher premiums or come with caveats.

AIDS, ALS, Alzheimers, asthma, cancer, epilepsy, heart conditions, high blood pressure, sleep apnea, a stroke, or having seizures can all be seen as pre-existing conditions by an insurer.


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What Is a Final Expense Insurance Plan?

If you suffer from a pre-existing condition, you may want to consider buying a funeral or burial insurance plan because these policies have relaxed underwriting. You can buy coverage from $2,000 to $50,000, even with pre-existing conditions.

These policies can cover the cost of your final expenses, such as your funeral service, cremation, or burial. They come with a fixed monthly premium that won't increase in cost, decrease in value, or expire. Your loved ones will receive tax-free cash death benefits they can use in any way they see fit.

There are different types of burial insurance plans:

Simplified Issue Policies

Simplified policies offer a streamlined application process. These policies cover individuals with pre-existing conditions that are seen as higher risk. Applicants have to answer a survey related to their medical history to qualify. They can be expensive, and coverage amounts can be lower than other forms of life insurance.

These policies either offer immediate or modified coverage. Immediate coverage policies make the death benefit available on day one. You will enjoy continuous coverage as long as you keep up with the premiums. Modified coverage imposes waiting periods, typically two to three years. This means that if the insured person passes away before the two or three-year waiting period is up, the insurer won't pay out the full death benefit. They will either return the premiums paid or pay out a percentage of the death benefit. Modified coverage is usually available to people with significant pre-existing conditions.

Guaranteed Issue Policies

Guaranteed issue policies work a little differently. They are available to anyone within the qualified age range, regardless of any pre-existing health conditions. There are no medical questions or exams. The death benefits may be lower, and you should expect higher premiums and waiting periods, but you cannot be denied coverage for a pre-existing condition.

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How Medical Underwriting Works For Pre-Existing Conditions 

Companies that cover pre-existing conditions have different underwriting requirements. Some will ask health questions; others will also review your prescription history. In either case, it's best to be upfront and answer questions honestly. Questions they may ask include:

  • Do you suffer from a pre-existing condition that may lead to your death within the next 24 months?

  • Are you currently using supplemental oxygen for a respiratory disease or condition?

  • Have you ever been diagnosed with AIDS or HIV?

  • Have you been diagnosed or treated for a heart valve disorder, stroke, heart blockage, or heart attack?

Companies that exclude pre-existing conditions will usually provide a list of conditions they won't cover, and they'll tailor their questions to rule out those conditions upfront. 

They will check whether you are honest or not by checking your prescription history. If they see that you are taking medication for a specific pre-existing condition, they will assume that you have that pre-existing condition.

If a burial insurance company doesn't ask about a specific pre-existing condition, they are likely to accept it and will approve you for first-day coverage.

Benefits of Final Expense Insurance If You Have a Pre-Existing Condition

Final Expense Life Insurance offers numerous advantages, especially for individuals with pre-existing conditions. Here are some key benefits to consider:

  1. No Invasive Telephone Interview: Unlike some other forms of insurance, final expense life insurance typically doesn't require an intrusive telephone interview. This means you can secure coverage without the stress of answering extensive medical questions.

  2. No Medical Exam: Final expense policies do not require medical exams. This aspect is particularly beneficial for those with pre-existing conditions, as it eliminates the need to undergo potentially uncomfortable or inconvenient medical tests.

  3. Easy-Issued Policy: The application process for final expense life insurance is relatively straightforward. It's designed to be accessible and hassle-free, making it easier for individuals, including those with pre-existing conditions, to obtain coverage. 

  4. Level Premiums: Final expense whole life policies come with level premiums, meaning your monthly or annual premiums remain consistent throughout the life of the policy. This predictability can help you budget for your insurance costs effectively.

  5. Fixed Death Benefit: Your policy will provide a fixed death benefit that does not decrease over time. This ensures that your loved ones will receive the agreed-upon payout, providing financial security for them.

  6. Permanent Protection: Final expense whole life insurance offers lifelong coverage. This means that as long as you keep paying your premiums, your policy remains in force, providing peace of mind that your loved ones will be protected no matter when you pass away.

  7. Cash Value Growth: Final expense whole life policies build cash value over time. This cash value grows tax-deferred, and you can often access it in the form of loans or withdrawals if needed. This feature can provide financial flexibility during your lifetime.

  8. Tax-Free Death Benefit: The final expense whole life policies death benefit is paid out to your beneficiaries tax-free. This means that your loved ones will receive the full payout without having to worry about income tax implications, providing them with essential financial support during a difficult time.

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Final Thoughts

If you've been denied life insurance due to a pre-existing condition, there's still hope. Different insurance companies have varying approval criteria, so the initial denial might not mean you're uninsurable. Final Expense Direct specializes in finding suitable final expense life insurance policies for individuals with pre-existing conditions. We work with top-rated insurance companies and use your health information to connect you with one that will approve you.

Choosing the right insurance agency, like Final Expense Direct, can greatly improve your chances of securing coverage despite your pre-existing health conditions. Our goal is to provide peace of mind for seniors, even with pre-existing conditions, and we focus exclusively on this type of coverage. Don't let your pre-existing condition hinder your access to life insurance; contact Final Expense Direct for assistance.

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