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Often times, cystic fibrosis can make it hard to breath but what it won’t make difficult is, finding affordable burial insurance.
We have been able to help countless individuals that deal with cystic fibrosis secure a burial policy at a competitive price. In this article, we will provide a complete breakdown of cystic fibrosis, how the burial insurance company will underwrite it, the options you’ll have, and how to find the best plan.
The Reality About Burial Insurance With Cystic Fibrosis
Although sever cases may create some extra hurdles, most folks with cystic fibrosis can absolutely qualify for coverage that covers them in full immediately. In addition, their insurance will cost no more than what a “perfectly healthy” individual would pay. That said, there are a couple situations where you might have to pay more and/or endure a waiting period, but it’s rare.
Life with cystic fibrosis is challenging. The constant mucus removal and breathing issues sure can be draining. We are happy to report that your condition very likely won’t have any impact on your monthly premiums or coverage.
Underwriting Cystic Fibrosis
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. We’ll go through the different components so you know how to each one will apply to your given your Fibrosis.
All companies will have a health questionnaire that you fill out. Thankfully, you’ll never have to ender a physical exam, blood tests, etc. When it comes to the list of questions you’ll be asked, it’s extremely rare that you will find a final expense life insurance company ask specifically about cystic fibrosis.
If a company is going to ask about, there’s a couple ways it might be phrased:
Have you ever been diagnosed with or been treated for cystic fibrosis?
Have you ever had or been treated for any chronic lung conditions?
Each insurance company is different and there are some that consider cystic fibrosis as a chronic lung condition.
Here’s the bottom line with these health questions
If you apply and it just so happens the insurance company asks these questions, you would been to answer YES if you have cystic fibrosis. This would ultimately mean that you would pay a higher monthly premium and or have some kind of waiting period before the full death benefit would pay out.
Thankfully, there aren’t very many burial insurance companies they ask about cystic fibrosis. We also know which companies don’t care about cystic fibrosis so we can still work with you to find a policy for an extremely competitive price.
There aren’t very many drugs that are used specifically to treat cystic fibrosis. According to Mayo Clinic, most CP patients take:
• Antibiotics for lung infection treatment and prevention
• Ant-inflammatory medications to reduce airway swelling
• Oral pancreatic enzymes to help you absorb nutrients in the digestive system
• Mucus thinning drugs to help you cough up the mucus
Below are some of the few medications that are commonly used for CP treatment. If you have filled a prescription for any of these drugs, the insurance company will automatically assume you have cystic fibrosis. This is also because these are drugs that are exclusively used for cystic fibrosis
• Ivacaftor (Kalydeco)
• Dornase Alfa (Pulmozyme)
If you are currently using oxygen equipment for any reason, this would be a major red flag for the insurance company. Your only option at that point would be to take out a guaranteed issue burial policy. This is a policy where they assume your health is very poor and are going to price your coverage on a worst-case scenario basis. You cannot qualify for a policy that has health questions if you’re on oxygen or have been advised to have a transplant.
Every single final expense life insurance company will ask about oxygen use. If you say yes, they will flat out decline you. That’s why if you say yes, your best and really only option is a policy that doesn’t ask questions and just give a flat rate.
Burial Insurance Options With Cystic Fibrosis
As we’ve already mentioned, most folks can get a really good burial policy with cystic fibrosis. Most insurance companies wont even ask about it because they don’t see it as a high-risk health issue.
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 cystic fibrosis, 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 priced as if you had zero health issues.
2. They offer you full coverage from day one, but they charge you a higher monthly price because they see a slightly higher risk.
3. 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
4. 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.
How To Find The Best Burial Insurance With Cystic Fibrosis
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.