Final expense insurance is designed to cover the expenses associated with end-of-life arrangements, such as funeral and medical bills. While final expense insurance is typically easier to qualify for than other life insurance policies, some individuals with heart conditions may worry that their condition will prevent them from being approved for coverage. However, this is not always the case. This blog will discuss how you can still qualify for final expense insurance even if you have a heart condition.
What is Final Expense?
First, it’s important to understand what final expense insurance is and how it differs from other types of life insurance. Final expense is permanent life insurance, typically with a lower death benefit than traditional life insurance policies. The premiums for final expense insurance are also usually lower and are paid until death rather than for a set number of years (like term life insurance). Final expense insurance is designed to cover end-of-life expenses, such as funeral costs and medical bills, and can provide peace of mind to individuals and their families.
Applying for Final Expense Insurance
Individuals with heart conditions may worry that their condition will prevent them from qualifying for final expense insurance, but this is not always the case. While certain heart conditions may make it more difficult to obtain coverage, many insurers are willing to provide final expense insurance to individuals with pre-existing conditions, including heart conditions.
When applying for final expense insurance with a heart condition, the insurer will likely require you to provide medical records and complete a medical questionnaire. The insurer will review your medical history and current condition to determine your eligibility for coverage. Fortunately, with final expense insurance, you will never have to undergo a medical exam to qualify. Answering a few questions is the extent of the process.
If you are approved for final expense insurance with a heart condition, you can expect to pay higher premiums than individuals who do not have a pre-existing condition. However, the premiums for final expense insurance are lower than those for traditional life insurance policies, so it may still be an affordable option for many individuals.
Call Us Today to Get Started Finding the Right Final Expense Plan
If you find yourself in a situation where your heart condition prevents you from qualifying for traditional life insurance policies, final expense insurance could be the policy you need. To learn more about your options and why final expense could be right for you, call Senior Life Services today.