There is a very fearful misconception that finding burial insurance on blood thinners is an impossible task.
We know better.
It is within reach for everyone to find affordable burial insurance on blood thinners. It comes as no surprise there is a “higher risk” stigma attached to taking blood thinners. But, this does not mean you are obstructed from qualifying for affordable coverage.
We can help you find your solution. We know how possible it is to find a quality insurance plan that treats you the same way they’d treat an Olympic athlete.
Take into account there is not a medical exam you will encounter while qualifying for final life insurance. Insurance companies will not need access to doctor’s records or other tests when assessing you for coverage. They will ask you health questions for the best policy fit.
Let’s walk through the necessary steps of qualifying for burial insurance while taking blood thinners.
Underwriting Process
The underwriting process is to see where you are on the risk scale. It’s the process of answering a few medical questions. In most cases, the words “blood thinner” are not even seen on the application. Sounds strange, right? Well, it’s not that strange.
Insurance companies have a medication list. The funeral insurance companies have flagged medications on that list. Those flagged medications so happen to be blood-thinning. See where I’m going with this?
Every insurer then responds in their way. They can categorize those who take certain blood thinners into higher-risk categories or not.
Time is also an influence in the underwriting process. Medication lists will vary depending on how long you’ve been on certain medications. Insurance companies will be able to see this information.
Some final expense policies have a “first fill” protocol.
This means that your policy coverage might change depending on how long it’s been since your first prescription fill. In most cases, if two years have passed since your first fill, most insurance companies will view you as a lower risk.
On the other hand, if you first filled your prescription within the last two years, you might be at higher risk. Every insurance company is different and responds to blood thinners in their own way.
Remember, we have companies we represent who remain neutral about blood thinner medications, even if you’ve been prescribed recently.
Let us help you set your future self up for success. We are here for you, and we don’t want you to face a penalty for taking care of your health.
Below is a list of popular blood thinners that burial insurance companies look out for:
- Apixaban (Eliquis)
- Aspirin
- Clopidogrel (Plavix)
- Dabigatran (Pradaxa)
- Dipyridamole (Persantine)
- Edoxaban (Savaysa)
- Fondaparinux (Arixtra)
- Heparin
- Plavix (Clopidogrel)
- Prasugrel (Effient)
- Rivaroxaban (Xarelto)
- Ticagrelor (Brilinta)
- Ticlid (Ticlopidine)
- Vorapaxar (Zontivity)
- Warfarin (Coumadin)
Here are some common ways insurance companies could respond to blood thinner medication:
- They require a higher monthly payment.
This response is straightforward. You take blood thinners; you receive a higher premium payment. Insurance companies see this as a way to offset the increased risk they view blood thinners as. You are still covered in full starting day one.
- They require a higher premium and impose a waiting period.
With this response, expect to pay 40-60% more than someone who is considered in perfect health. Also, your benefits will not payout during the first two years unless your death is ruled accidental.
- They require a higher premium and limit payout of benefit within the first two years.
With this response, expect to pay around 15-30% more than someone who is considered in perfect health. Death benefits pay out within two years.
This is usually divided into 30% payout the first year and 70% payout the second year. This is a pretty uncommon action among insurance companies.
- There is no policy change because blood thinners are not assessed as high risk.
With this response, expect to pay the same price as someone who is considered in perfect health. These insurance companies treat blood thinners as a trivial matter in the grand scheme of health. You are covered in full starting on day one.
Questions to Expect from Us
We strive to connect you with the best carrier possible. You are our focus; finding the best possible solution is our responsibility.
If you are searching for immediate benefits while looking to avoid long wait times, let us help you. To help you, we must know you. Here are some questions about blood thinners you can expect us to ask:
- What blood thinners do you take presently?
- What date was your prescription first filled for the blood thinner(s)?
- Why are you taking these presently?
- Have you ever not filled your prescription and refilled again within the last two years?
- Have you consistently filled the prescription regularly since you were first prescribed it?
We will also ask about any other underlying health issues and medical information. We analyze your entire health profile and match you with a carrier that will give you the excellent coverage for your health. When we have all the information, we can connect you to carriers with low rates and compassionate coverage.
