In this article, we will detail exactly how carriers assess the risk of an amputation from diabetes, and what options you have. Also, we are going to show you exactly how to find the best and most affordable burial insurance plan based on your health history.
If you are interested in a quote, you can fill out our quick quote form , and we will show you a list of actual prices from multiple insurance carriers. If you have ever had an amputation due to diabetes, you can also call us at 888-519-9119 to discuss your options. Although there are companies that won’t offer coverage, there are insurance carriers that are more than willing to offer coverage to someone that has or is dealing with complication from their diabetes.
You most likely already know that getting coverage when you’ve had complications with your diabetes isn’t exactly going to be a walk in the park. Every company views the risk of diabetes and amputations from diabetes differently. As an independent agency, we are dedicated to working solely in the burial insurance space and have been able to help others find coverage that have gone through this exact scenario.
The Reality Of Burial Insurance After Amputation From Diabetes
Without sugar coating anything, having had an amputation from diabetes greatly narrows your options. With that being said, it is still VERY possible to secure affordable coverage – you just won’t have the luxury of getting to choose a specific company to work with. In some cases, depending on your overall health and what state you live in, we can even help you find a plan that doesn’t subject you to a waiting period when signing up.
Although we may be able to find a plan with no waiting period, you will still have to pay more than a typical healthy individual would. Unfortunately, this is just the price that has to be paid when you’ve had health problems. This doesn’t mean that your monthly payment will go through the roof though. There are plans out there where you may only have to pay 10-20% more because of your diabetic amputation. This would be considered a big win given the severity of your condition.
Even with the health history being what it is, you still will NOT have to take any kind of exam or physical. Another important thing to remember is that no matter how bad your diabetes is, or how bad your health is outside of diabetes, we can find options for you. You may or may not have a waiting period, but that depends on your health in general. Just remember that you CAN get coverage.
Final expense underwriting after a diabetic amputation
Underwriters are the department of people that will determine if and how coverage is offered to you based on your health. They work with the other department (actuarial) that tries to assess what the risk level is of offering you coverage. Just about every application will ask if you’ve had complications from diabetes including but not limited to amputation. If you answer YES to that question…
The life insurance company will basically fall into one of three categories based on how they view the risk level.
- They will flat out decline you if you’ve had an amputation due to diabetic complications.
- They will accept you but will charge you a higher premium and subject you to a 2-year waiting period before you’re %100 covered for death due to natural causes.
- They will accept you but will charge you a higher premium without putting you through a waiting period. (VERY RARE)
As much as we want to see the glass half full, the reality is that a majority of insurance carriers will fall into the first category, a few in the second and maybe one in the third if we get lucky. Our primary goal for helping you would be to assess your situation to find out whether or not the carriers that are willing to consider you would accept you. Here are a few of the questions we would ask you specifically about the amputation.
- When exactly was the amputation(s)?
- Are you able to perform your own activities of daily living? (eating, bathing, dressing, toileting)
- Are you confined to a wheelchair? If so, is it because of the amputation or for another reason?
In addition to those questions, we would absolutely need to know as much as possible about all your other health conditions. Remember, just because there’s no exam doesn’t mean that the insurance carrier doesn’t care about what your health is. There may be companies that are totally accepting just your diabetes, but they might not accept other conditions you deal with. These companies have entire departments dedicated to finding health/life expectancy statistics for everyone out there. For example, diabetes with additional health problem “A” might be okay but diabetes with additional health problem “B” might be a major red flag. At the end of the day, we would assess your entire health profile to find you the best option that meets your goals and is within budget.
It’s important for us to readdress the fact that you will be getting charged a higher payment by whichever insurance carrier offers you coverage. This is the case for all people with a diabetic amputation in their past. No matter how we slice it, the fact is that your health is not as ideal as others and the insurance company is going to price that in accordingly. BUT… we have companies that will accept everyone regardless of health problems, so we will be able to find a company that is willing to work with you!
How To Find The Best Burial Insurance After Amputation From Diabetes
Finding an insurance policy after amputation from diabetes is not going to be easy if you’re trying to do it on you own. That’s where Simplegacy can help tremendously. The best way to find a burial policy that fits your goal is to work with an independent agency that specializes in whole life/final expense insurance. Because this is all we do, we know the questions to ask and have spent years discovering which companies are going to be the most likely to work with a client that has serious health problems.
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.