The fourth leading cause of death in the United States is chronic obstructive pulmonary disease (COPD) and most insurers consider it a high risk. Most funeral insurance companies charge higher premiums from time to time and may impose penalties.
Although some companies do not see chronic bronchitis as highly risky, meaning you won’t be charged higher premiums or even make you endure a waiting period.
We have a long history of helping people with chronic bronchitis get the ultimate cost insurance at the lowest cost.
Today, we will provide you with a complete overview of the processes involved in buying burial insurance with chronic bronchitis condition.
This article will show you how insurers respond to people with chronic bronchitis, what options you have, and how you can get the best plan.
- The Best Life Insurance for Older People with COPD
- Can I Get Life Insurance for COPD?
- Bad news
- Good news
- The Underwriting Process for Chronic Bronchitis
- Health Questions about Chronic Bronchitis
- Chronic Bronchitis Treatments
- Important Things to Know
- Can I Still Get Coverage with Oxygen Therapy?
- Burial Insurance Companies and Different Insurance Plans for Chronic Bronchitis
- Lowest Rates with No Waiting Time
- Insurance Plan with a Higher Monthly Premium
- A Policy with 24 months Waiting Period With a 10% Interest
- Graded Plan – Receive a Percentage of Benefits for the First 2 Years
- Combination of Higher Rates and Waiting Times
- Guaranteed Issue (GI) Plan
Because this is a chronic and incurable disease, most companies do not respond well.
However, there are some insurance companies that offer a level of a benefit plan for death despite chronic bronchitis.
Two things are involved here. First of all, your payment will be the same as someone who is in excellent health condition. Secondly, there will be complete coverage to protect you immediately.
Remember, there aren’t many companies that provide this incredible value, so we hope you don’t have other health issues that can prevent you from qualifying.
You will find companies that offer plans that will release some of your benefits in the first two years or none outside of these companies. In addition to the limited benefit or no benefit in the first two years, you will also receive higher premium levels.
The Best Life Insurance for Older People with COPD
There are some prestigious insurers who can offer the best quality funeral or final expense insurance for seniors at the lowest cost. For example, this is commonly referred to as a simplified, preferred, or level plan. However, we will be using simplified.
Simplified insurance has the lowest monthly premiums without a waiting period, which means immediate coverage from the first day, with a complete death benefit.
Therefore, we hope that you will only have chronic bronchitis as a serious medical condition and that you will not have any other illnesses or health problems that would prevent you from obtaining simplified insurance policy from these leading insurers.
Can I Get Life Insurance for COPD?
Similar to all funeral insurers, the insurance company will try to learn all everything about your disease’s history, lifestyles, and living conditions by asking questions about illness and health issues, also your prescription history.
Almost all insurers will ask you a direct question about COPD, or they will usually ask if you have chronic lung disease, and you need to answer it in the affirmative.
Because there is no cure for chronic bronchitis, and it can lead to various types of chronic lung disease, many funeral insurers have strict rules and regulations for assessing applicants with COPD.
From the moment chronic bronchitis is identified, other life insurance carriers will check the frequency and severity of your bronchitis. Depending on the insurance company, there will be various penalties to offset the rate of your risk.
Other insurers might not have an insurance policy to cover the risk of chronic bronchitis; therefore, they simply reject your application. There are many final expense insurers that don’t want to have anything to do about chronic bronchitis or COPD of any kind. And that’s why you need to contact an insurance agent who is very experienced.
As you have already known, chronic bronchitis cannot be cured, but the key to improving the patient’s condition is to prevent their provoking factors.
In these days of medicine and insurance, there are many new and effective ways to prevent or control the symptoms of chronic bronchitis, and the country’s leading insurance companies are aware of this. Even if you have severe chronic bronchitis or other serious medical conditions, we will always get the best and cheapest insurance plan.
These insurance plans will continue to come from the premium insurance companies that are accessible to us. Another good news is that you won’t be needing medical or physical exams for the burial insurance plan.
So how do you get a simplified insurance policy? You will be required to undergo the underwriting process.
The Underwriting Process for Chronic Bronchitis
All funeral insurers will take you through a process before you can be qualified. Mostly, they will ask you many formal health questions. Also, they will assess your prescription history. Both will provide all the data necessary to inform you whether you will be approved or not.
Health Questions about Chronic Bronchitis
Most life insurance companies will ask you if you have chronic bronchitis. Keep in mind that some do not use the word “chronic bronchitis” specifically. They may use phrases such as chronic lung disease.
You will also notice that most funeral insurance companies will ask if you have had this condition at some point in your life. They do this because it is a chronic condition that cannot be cured. However, there are companies that associate a certain period (for example, in the last two years) to questions about chronic bronchitis.
Finally, most companies combine chronic bronchitis, emphysema, and COPD into a question.
Below are some examples of how funeral insurance companies can ask questions about it.
- Have you been or have you ever been treated for chronic bronchitis, emphysema, or COPD?
- In the past 24 months, have you received or been prescribed treatment for emphysema, chronic bronchitis, or COPD?
- Have you ever sought treatment or are currently being treated for COPD, emphysema, or any chronic lung disease other than asthma?
If you have chronic bronchitis, you should answer any of these questions in the affirmative.
Some burial insurance companies will ask you about the stage of COPD you are, and this can have a big impact on the quality of the insurance plans you will get
In addition, some insurers will reject your application if you are in the severe stage of chronic bronchitis, COPD.
There are several funeral insurance companies that do not ask about chronic bronchitis or chronic lung disease. Since they are not asking about it, it means they have no problem with people that has this condition. You will find the best price and coverage for these companies.
Chronic Bronchitis Treatments
Most patients with this condition will receive various bronchodilators or drug prescriptions. There are many different bronchodilators sold, some of which are also used to treat emphysema or COPD.
Some of the drugs are;
- Antiviral Agents
- Inhaled Corticosteroids
- Systemic Corticosteroids
Some of the popular bronchodilators are;
- Albuterol – Short acting bronchodilators
- Arcapta (Indacaterol) Ultra-long-acting-Beta-Adrenoreceptor Agonist
It is a Bronchodilator
- Anoro – It is LABA bronchodilator
- Atrovent:- (ipratropium), a common bronchodilator
- Brovana – It is LABA bronchodilator
- Combivent – Bronchodilator
- Incruse – Bronchodilator
- ProAir – Use as bronchodilator in all ages
- Perforomist- (formoterol), a Bronchodilator cures COPD
- Stiverdi (Olodeterol) , a LONG-ACTING bronchodilator
- Spiriva (Tiotropium) , a common bronchodilator
- Seebri – a common bronchodilator, Used for COPD
- Stiolto – A combination of olodaterol and tiotropium. A common bronchodilator
- Tudorza -(Aclidinium) , a common bronchodilator, Used to cure bronchospasms
- Utibron – It contains (Indacaterol), an Ultra-long-acting-Beta-Adrenoreceptor Agonist
It is a Bronchodilator
- Xopenex – A common bronchodilator
Important Things to Know
We cannot give you a clear formula to follow concerning the prescriptions. In fact, the underwriting process is different for every funeral life insurance company. For example, some companies classify people taking Brovana as a COPD patient.
On the other hand, another company may not consider Brovana’s prescription as a sign that someone has a COPD condition.
After all, you will need a highly qualified agency like ours to go through your medications and see which companies would accept you with your health and medications.
The application process also includes your prescription history. If you are under medication for chronic bronchitis, you cannot hide it. Even if you answered ‘no’ to their health question about chronic bronchitis (although a terrible idea), your drug history would negate your denial.
Can I Still Get Coverage with Oxygen Therapy?
Suppose your doctor has prescribed oxygen therapy for you, especially with a Venturi mask. In that case, it could mean that your chronic bronchitis is becoming severe, that you are prone to hypoxemia or low blood oxygen levels.
In a case like this, the only insurance option you can get is the Guaranteed Issue plan. If you have concluded securing a final expense insurance plan, we recommend that you sign up for that plan immediately.
Most insurers reject applications from COPD patient that are prescribed for oxygen therapy. It simply means that they do not have a guaranteed issue policy for anyone with chronic lung disease
How would you feel after going through the underwriting process, and then you are later rejected? It will be a waste of time for you, thinking about the time you spent applying; it could be more frustrating.
By working with one of our final expense insurance specialists you can make this process painless. What our insurance experts will only need from you is a little bit of your time for your details.
Burial Insurance Companies and Different Insurance Plans for Chronic Bronchitis
After undergoing the underwriting process with health issues and evaluating your medication history, insurers to cover the final funeral costs will get back to you with insurance offers that match your level of risk following their rules and guidelines.
Always remember that each insurer will have its own standards for assessing your general health and will have different qualifications for an insurance policy.
Now, every aspect of your health becomes a vital factor in the types of insurance policies that will be issued to you.
At this stage, when you have honestly answered all the questions about the application, it is very important to check your expectations.
Lowest Rates with No Waiting Time
If you have been following this article from the beginning, you will remember that we mentioned a possibility like this.
This is a simple insurance plan. It will have the lowest rate for the monthly premiums without a waiting period, meaning there will be immediate coverage from day one, with a full death benefit for your beneficiaries.
The description of the simplified coverage is quite simple; however, it is important to understand that their conditions that qualify you for the simplified insurance plan as it is often offered to people that are completely healthy
This is definitely what you need, and our client’s satisfaction and happiness give us pleasure; we will work together with you to get an amazing plan like this for chronic bronchitis.
Only a few highly rated insurance companies can offer a simplified insurance plan for chronic bronchitis COPD. They all have different questions and conditions before you can qualify for their plan.
Therefore, we urge you to call us to ask questions about your eligibility for the simplified plan from these top-level insurers.
All we need is the details of your health and medication so that we can assess which of the few insurers will provide the lowest rate with your health condition.
Insurance Plan with a Higher Monthly Premium
This is also from a top-rated insurer and will be another best option if you do not qualify for the simplified policy option.
This insurance plan is 15 – 40% costlier than the simplified insurance plan. Similar to the simplified insurance plan, there is immediate coverage for this policy, that is, the death benefit will be fully paid to the beneficiary if you pass away beginning from the first day of your plan
Because of the chronic bronchitis COPD nature, this is also an excellent plan; although the rates are slightly higher, the best part is that coverage will be instantaneous from day one.
Again, only a few insurance companies can offer this plan (same as the simplified), and we also represent them
A Policy with 24 months Waiting Period With a 10% Interest
This will be applicable for candidates with high-risk chronic bronchitis, and it will have a waiting period to serve as compensation for the risk. Generally, the waiting period is at least 24 months, however, if pass away at any time during the waiting period, all of your payments will be reimbursed with a 10% interest rate payable to beneficiaries.
The advantage of this option is that your beneficiaries will also receive more money than your payment at the appropriate time.
In addition, another reason you should leverage on this option is that it is better than Certificates of deposit (CD) or Share Certificate in banks. No bank CD or share certificate will return 10% of your interest.
Graded Plan – Receive a Percentage of Benefits for the First 2 Years
This also applies to a high-risk candidate.
If an insurer offers you an option like this, it is best to consult an experienced burial insurance specialist to know if this option is right for you.
If you pass away in the first 12 months, a percentage of your total death benefit will be paid and a higher percentage for 13-24 months.
This is commonly referred to as a Graded plan, and here is the percentage of the payout.
- The first 12 months – 30%
- On the 13 to 24 months – 70%
After completing the 24 months waiting period, your beneficiaries will receive the full amount (100%)
Combination of Higher Rates and Waiting Times
This is offered for applicants with higher-risk
This policy is common for many insurers, for candidates who they consider to have the highest risk. It is quite simple, a monthly premium at a higher cost of 15 to 40% with a waiting period of at least 24 months – and depending on the insurer, there may or may not be a benefit (within the waiting period). Thus, other companies may have a payment plan, like the graded plan (percent per year).
Tip: Sometimes, a guaranteed issue plan from a top-rated insurer is much more profitable or reasonable than the fourth and fifth option to check, do your calculations or consult with us.
In the end, you will be the one to decide; you can enquire one of our burial insurance specialists to know if this is the right option for you.
And always keep it in mind that above all, you come first, even before the insurance companies.
Guaranteed Issue (GI) Plan
As the name implies, you are guaranteed acceptance as long as you are legally competent to enter a contract or have a legal guardian. You will not answer questions as regards your health or have them review the history of your medication.
We can certainly have your GI plan approved in 10 minutes over the phone.
Because of the highest risk that insurers are willing to take, there will be higher monthly premiums, and they will have a strict waiting period of 24 months. In addition, if you pass away at any time during the waiting period, all your payments will be returned to the beneficiaries at a rate of 10%.
This insurance plan is solely for people who are seriously ill and have decided to be prepared when the day comes, to provide their family peace of mind – making sure that this option is always a good decision.