Can Get Final Expense Insurance With Dementia Or Alzheimer’s?

Yes, you can get final expense insurance with dementia or Alzheimer’s. However, you will have to endure a two-year waiting period.

Learn what options you have with this disease, the best companies, and how much it will cost.

How Does Final Expense Insurance Work?

Final expense insurance is a form of permanent life insurance (whole life, to be more precise) typically meant to cover your end-of-life expenses.

The coverage options are smaller than traditional life insurance plans and never require a medical exam.

Final expense life insurance is also commonly known as funeral insurance or burial insurance.

50-85 is the most common age for these plans, and most providers offer $50,000 or less in coverage.

Because final expense coverage for seniors is a form of life insurance (read: burial vs. life insurance), the result will be a cash payout to your beneficiaries.

Your loved ones can use the money for anything, including funeral costs, medical bills, or credit card debts.

And they are entitled to keep any money that’s left over.

Burial Insurance Options With Alzheimer’s

A guaranteed issue life insurance policy is the only way you can get a new policy issued if you have dementia or Alzheimer’s.

Since acceptance is guaranteed, there will be a two-year waiting period.

If you die during the first 24 months, the insurance company will refund your premiums plus interest.

They will not pay out a death benefit.

It’s helpful to remember that burial insurance plans come in two forms. One type has health questions, and one does not (guaranteed acceptance).

Your health will determine if you’re eligible for a plan with health questions. Those can have partial or immediate coverage (no waiting period).

However, therein lies the problem. Plans that ask about health conditions will always ask about dementia or Alzheimer’s.

A yes answer to dementia or Alzheimer’s questions will always cause a decline.

Memory Medications

A guaranteed acceptance policy with a two-year waiting period is inevitable if you have ever been prescribed medications to help with memory issues.

That’s true even if you have not been formally diagnosed with dementia or Alzheimer’s.

Plans with no waiting period have health questions that you must answer.

In addition to the questions, final expense insurance companies will electronically analyze your prior prescriptions.

If companies see any of the following medications (or any other memory drugs not listed) in your history, they will decline you for their immediate coverage options.

• Aducanumab
• Donepezil (Aricept)
• Galantamine (Reminyl)
• Memantine (Namenda)
• Namzeric
• Rivastigmine (Exelon)

To be clear, you will never qualify for no waiting period life insurance if you have ever been prescribed those medications, even if you never actually took them.

With Power Of Attorney, Can You Buy Burial Insurance For Someone With Dementia?

If you have power of attorney, you cannot buy burial insurance for someone else without their involvement.

The insurance companies that offer guaranteed acceptance coverage still require the insured to consent to the policy.

Your power of attorney does not waive that requirement. You alone cannot do this for them.

It’s just like buying life insurance for a parent.

If the person with dementia can no longer answer questions or legally sign their name, there is no way they can buy any form of life insurance.

In that circumstance, you should consider a pre-paid burial plan with a funeral home.

Best Final Expense Insurance For People With Dementia

Below are the top funeral insurance companies for people with dementia or Alzheimer’s.

All of these plans are guaranteed acceptance with a two-year waiting period.

Company	Coverage & New Applicant Age Limits	Payout During Waiting Period & Duration	Cost
	• $2,000-$25,000 • 45-85	• 110% Of Premiums • 24 Months	See Quotes
	• $5,000-$25,000 • 45-85	• 130% Of Premiums • 24 Months	See Quotes
	• $5,000-$25,000 • 50-80	• 110% Of Premiums • 24 Months	See Quotes
	• $5,000-$25,000 • 50-80	• 110% Of Premiums • 24 Months	See Quotes
	• $5,000-$25,000 • 50-80	• 110% Of Premiums • 24 Months	See Quotes
	• $1000-$25,000 • 40-80	• 110% Of Premiums • 24 Months	See Quotes
	• $3,000-$20,000 • 45-85	• 110% Of Premiums • 24 Months	See Quotes
	• $2,000-$20,000 • 45-80	• 110% Of Premiums • 24 Months	See Quotes

How Much Does Burial Insurance Cost With Alzheimer’s?

In the table below, you can see some sample burial insurance quotes for someone with dementia.

All these prices are for guaranteed acceptance coverage.