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Most people are under the impression that insurance companies turn away applicants who have cirrhosis. Fortunately, we know several burial insurance companies that will work with you.
Not only will they work with you, but they’ll offer you full coverage from day one with no restrictions. That’s right; no waiting period! Although Cirrhosis will be a red flag for some insurance companies, we will work hard to find the best insurance company for you at the best price.
We have helped many people with this condition and there was never a single occasion where we couldn’t assist a cirrhosis patient. In this article, we will show you how insurance companies assess the risk on cirrhosis applicants, what kind of policy options you will have, and how to find the best policy at the most affordable price.
The Reality About Burial Insurance With Cirrhosis
Cirrhosis is one of those conditions that every burial life insurance company is going to ask about on their application. This can be a condition that is a red flag when it comes to the risk associated with having it. That said, it’s important to understand that every burial insurance company responds to this disease differently. So where one company may see it as a huge problem, another may only see it as a minor problem.
Its worth mentioning though that all insurance companies are going to see cirrhosis and assign it a certain level of risk. It’s shown that this disease reduces life expectancy. This means that you won’t be able to secure the same monthly payment as someone that had zero health issues. So even though you you’ll have to pay more per month, we will do everything we can to minimize that monthly payment!
In the end, we will assess your situation and help you determine which company is going to offer the best solution and coverage for your situation. We represent several companies, so our goal is to simply find the best one for you. Throughout this process, you won’t have to take any health exam, physical or have blood work done. The only item you’ll be responsible for is filling out the health questionnaire on the application.
Underwriting is just a fancy term for the insurance company to determine the risk level of offering you coverage. The process of underwriting can be questions, pulling prescriptions history, etc. This is all done to determine how much risk they’re taking on. In general, each company has their own process for underwriting but there are also certain conditions that across the board, the insurance companies care about. When it comes to cirrhosis, the insurance companies are only interesting in knowing one thing.
Do you have cirrhosis or not? It’s a yes or a no.
They don’t care how long you’ve dealt with it, the severity or how you got it (Hepatitis C, fatty liver from diabetes, alcohol abuse, etc). They won’t ask for any details about your condition, just knowing you have it gives them all the information they need.
As we said before, pulling prescription history is a tactic companies use to underwrite but there are no specific drugs used to treat only cirrhosis. Nearly all drugs prescribed for cirrhosis can also used to treat other conditions. Because of this burial insurance companies can’t really determine that you have cirrhosis purely by checking your prescription history, hence the questionnaire also…
The Health Questions
As stated earlier, very burial insurance company will have their own process of underwriting so it goes without saying that they will have their own questions they like to ask. Because they really just want to know if you have cirrhosis, the majority of them will not reference a specific period of time when they ask the question. Since cirrhosis is not a curable condition, they don’t typically care about the when or how long portion. Here are some ways they will ask about cirrhosis.
Have you ever been diagnosed with, been treated, for or been advised to receive treatment for cirrhosis?
Within the last 24 months, have you ever had or been treated for cirrhosis?
Have you ever been diagnosed or treated for any liver disease or condition?
Insurance Options When You Have Cirrhosis
It’s important to remember that that all your health issues will come into play when you apply for a burial insurance plan. So even though were mainly just discussing cirrhosis, having other health issues will absolutely factor in on what your options are. With that, there’s only a certain amount of ways an insurance company can respond regardless of how bad your health is. Below are all the possible policy options you could experience when you have cirrhosis and remember that you won’t be able to avoid paying a higher monthly payment.
1. They offer you full coverage from day one, but they charge you a higher monthly price because they see a slightly higher risk.
2. They charge you a higher monthly price and they limit the payout if you pass away during the first two years. They usually pay 30-40% during the first year, and 70-80% during the second year. This is called a graded policy
3. They charge you much higher premium and if you pass during the first two years, they will only refund your premiums plus interest, usually a 10-15% interest.
4. You get declined all together. This last one shouldn’t bother you since we will simply help you find a company that won’t decline you.
What If I’ve Had A Liver Transplant?
Every single funeral insurance company will ask the following health question:
Have you ever had or been advised to have an organ or bone marrow transplant?
If you have ever had a liver transplant or been told you need one, you will not be able to get burial insurance coverage that protects you immediately. You will have to wait at least two years before your coverage goes into effect. The risk is too high in the eyes of the insurance company to not place some type of waiting period on the policy to make sure your health is stabilized.
If you are a transplant patient, your only avenue to obtain coverage is to get a guaranteed issue policy. These have no health questions or medical checks. They just assume the worst and quote you a price. Usually the lowest priced company at that point is Gerber (which we work with). Mutual of Omaha is another provider that’s within a couple dollars of Gerber but you would need to call them directly since a guaranteed issue policy can only be purchased with Mutual by calling them.
How To Find The Best Burial Insurance With Cirrhosis
The cold hard truth is that you need to lean on an experienced professional agency to help you with this. Everyone wants the best deal, and by best deal, we mean getting the most coverage from day one for the lowest price.
Simplegacy works with 20+ insurance carriers. Not only will we find a company to work with you, we will find multiple. When we do, we can compare rates and impartially recommend whichever carrier will give you the best value. We are not tied to any single company, which gives us the ability to unbiasedly tell you what your best solution is. Since we only work in the Burial/Funeral/Final Expense Insurance category, you will never have to worry about being “cross-sold” or pushed into a solution that doesn’t make sense in the long run for you.
We are here to help you in any way we can. We will use every resource available to us in order to help you find the best policy that will work for you and your family. Our goal is to approach every scenario the way we would if it was our own family that we were planning for.
Call us at 888-519-9119 or fill out the quick quote form for an instant quote.