Based on what you will see on most websites on life insurance, it is very difficult to get affordable funeral insurance with a defibrillator.
However, it is Merely a Myth.
Yes, it is. It really is a myth. Large premiums do not automatically mean funeral insurance if you have a defibrillator.
You do not automatically have to pay high funeral insurance premiums if you have a defibrillator.
The truth is that you can sign up for a final life insurance plan that will not go beyond your budget. All through the years, we have helped many people with defibrillators do that. Now, we will reveal you how we helped them and also open your eyes to these secrets.
In this article, we will talk about the typical insurance company underwriting process for applicants with defibrillators. Your available option and how to get the best defibrillator funeral insurance.
- Implantable Cardioverter Defibrillator (ICD) and Final Expense Insurance Companies
- Other Good News
- Final Expense Insurance Company Underwriting process for ICD
- Health Questions
- Specific Questions about ICD
- Burial Insurance Companies Offer for ICD
- Your Defibrillator Was Installed Last Year
- The Installation of Your Defibrillator Happened Over Two Years Ago
- Battery Changes
- How You Can Get the Best Burial Insurance if You Are an Applicant with ICD
Implantable Cardioverter Defibrillator (ICD) and Final Expense Insurance Companies
Let’s begin with the bad news
Either you believe it or not, having an ICD insurer is not something many insurance companies see as a problem.
Even though it is true that having a CID is not a problem for funeral insurers, there are certain circumstances that may affect your chances of being offered a basic price for immediate coverage.
In addition to other serious illnesses that insurers may have a problem with, there are often ICD cases that can impact the quality and price of the coverage plans offered.
Many insurers will have a problem with you if you recently installed the ICD or replaced the battery – you will see more on this in the ICD underwriting process.
Other Good News
Many final expense insurers will not ask if you have an Implantable Cardioverter Defibrillator or ICD, or, as people call it, a heart defibrillator implant – they don’t even talk about it in their underwriting questions. This means that they are not looking for it, and it’s perfectly okay with these insurers.
In addition, you do not need to undergo a medical or physical examination to obtain a funeral or final expense insurance.
We have helped many clients get a basic funeral insurance plan with immediate coverage on the first day – insurers often call this plan simplified, preferred, or level.
So, you might be asking, does that automatically mean I am qualified for a simplified or level plan?”
Not yet, in order to get the lowest cost with immediate protection, you must first go through an underwriting process.
Final Expense Insurance Company Underwriting process for ICD
The underwriting process usually occurs when funeral insurance companies or closing costs want to find out if there are other illnesses, health problems, alcohol or tobacco consumption, etc. They will also ask you questions about your lifestyle and analyze the history of medication prescriptions.
Basically, insurers will assess every aspect of your health to classify your risk level and determine what type of insurance coverage you can get.
- How far do life insurers examine medical records?
- During the underwriting process, insurers will question about the following:
- Questions about your current and previous diseases (if any) and your lifestyle.
- Evaluation of the history of prescription drugs.
While asking questions in the underwriting process, all insurers will ask about all types of diseases that typically have a low chance of survival based on statistics. Tobacco use and alcohol consumption are also essential, as they can exacerbate any disease or shorten a person’s life expectancy.
NOTE: the text of the underwriting question varies from one insurer to another.
Answering health questions may be simple, but don’t try to answer them yourself! To answer these questions, consulting an insurance specialist experienced in final costs can make the difference between paying cheaply or highly.
In any case, when you get the best insurance plan for the funeral or closing cost, you need to contact an expert in insurance to guide you specifically from the beginning.
An independent agent who is experienced in the underwriting process with an insurance company will have a good understanding will know immediately which insurance company will best take care of your health.
We will only need a bit of your time to get your details.
Specific Questions about ICD
Now, we definitely realize that you have an implantable cardioverter-defibrillator (ICD). There will be more questions about the ICD.
- When did you have your ICD installation?
- Have you ever replaced your ICD battery? If yes, when?
- Why did you need an ICD?
- What other health condition have you had in the past two years?
- What are the medications you are taking for other diseases?
Your answers to the questions above will determine what type of coverage you will be qualified for.
Burial Insurance Companies Offer for ICD
If you have recently had heart or circulatory surgery, it will affect how much you pay and whether or you are getting a waiting period for your policy or not. Keep in mind that there are dozens and dozens of end-of-life companies that may be less interested in whether or not you have a defibrillator. The only problem you had to worry about is the installation time. Below you will see the impact of your CDI installation date if any.
Your Defibrillator Was Installed Last Year
In this case, your payment for the monthly premium will be higher and have a two-year waiting period for the policy. Sadly, it is impossible to prevent this. Thankfully, you can still obtain a policy, and it won’t cost you beyond the ordinary. Your price will usually be about 15 to 30% higher than the monthly premium of a healthy person.
The Installation of Your Defibrillator Happened Over Two Years Ago
At a point like this, you are at an advantage. You can easily get a simplified death benefit from many funeral insurance companies. Your rates will be the lowest possible and your protection instantly from the first day of the policy because your got ICD installed over two years ago.
Battery replacement involves simple and relatively small outpatient surgery. To be sincere, some insurers will see this procedure as cardiac or circulatory surgery. Along with them, you will have to pay a higher premium and stay in a waiting period if it is recent.
Simultaneously, we certainly have funeral insurance companies that do not consider replacing an ICD battery as qualified for cardiac or circulatory surgery. If you have recently changed your battery, we will send you to one of these companies to get an instant benefit and the affordable price they offer. It’s nice to have options, isn’t it?
How You Can Get the Best Burial Insurance if You Are an Applicant with ICD
When it comes to DCI coverage, you should pay attention to the following qualities:
- The insurer has the most affordable monthly premium.
- An insurer that offers a simplified and looks back as far as 12-month on ICD installation.
- The insurer can provide a simplified plan, regardless of whether you have an ongoing ICD battery change.
- The policy has the greatest benefit rewards with instant coverage.
- The insurer is stable financially and has proven experience.
We can provide you with these coverage qualities for any applicants with ICD. We have helped many people with ICDs – even those who have installed their own for more than 12 months but under 24 months or whose ICD battery has recently been replaced.