Final Expense Insurance Options When You Have COPD Or Emphysema
For context, final expense insurance companies treat COPD, emphysema, and chronic bronchitis equally.
Some final expense policies have health questions, and some do not. There are critical differences between each option that you must understand.
Plans with no health questions are guaranteed acceptance because you cannot be denied due to previous health issues. All guaranteed issue final expense policies have a two-year waiting period. If you die during the waiting period, the insurance company will only refund the premiums paid.
On the other hand, plans with health questions can have immediate coverage (no waiting period). However, getting no-waiting-period burial insurance is something you must qualify for. You must apply with a company that asks health questions (no exam necessary) and subsequently be approved.
Fortunately, many companies will still approve someone for a no-waiting period policy despite having COPD.
Plans with health questions typically have different health ratings that you might qualify for. Below is an outline of the various health ratings offered by companies and what they mean.
- Level/preferred: This plan would be the company’s least expensive option and will have no waiting period. Besides the tobacco question, you must usually be able to say no to all the health questions on an application to qualify for this rate classification. While rare, some providers may approve a COPD applicant for a preferred rating.
- Standard: This plan has no waiting period, but it costs more than a level/preferred plan. A standard rating will only be offered if you have specific health issues mentioned in an application. For people with COPD, a standard rating is common.
- Graded: This plan partially insures you during the first two years. Typically, it would pay 30%-40% of the death benefit during the first 12 months and 50%-70% during months 13-24. In addition to the partial coverage element, the cost will be higher than a level/preferred plan. Some companies will offer a graded program if you have specific health issues (usually chronic conditions) mentioned in an application. Multiple companies will offer a graded plan to individuals with COPD.
- Modified: This will always be a provider’s most expensive option. Typically, a modified whole life plan is only offered when you have very dire health issues. In addition to the higher cost, it will always have a two-year waiting period. If you die during the waiting period, your beneficiaries will only get a refund of your premiums. A modified plan is usually unnecessary for someone with COPD because many providers will offer a preferred or standard rating.
Best COPD Burial Insurance Companies
Below are the best funeral insurance companies that will approve a COPD patient for a policy with no waiting period. Which one is best likely depends on your age and other health issues.
Using this quoting tool, you can compare quotes from each of these companies. However, for an accurate price estimate, it’s best to call us at 1-800-644-2926.
| Insurance Company | Coverage & New Applicant Age Limits | COPD Details |
|---|---|---|
 | Coverage: $2,000-$50,000 Age Range: 40-89 | • No oxygen equipment • Tobacco use is acceptable |
 | Coverage: $5,000-$50,000 Age Range: 45-80 | • No oxygen equipment • Tobacco use is acceptable |
 | Coverage: $2,500-$35,000 Age Range: 0-85 | • No oxygen equipment • Tobacco use is acceptable • No hospitalization within the last 12 months |
 | Coverage: $1,000-$50,000 Age Range: 45-85 | • Oxygen equipment is okay • Tobacco use is acceptable |
 | Coverage: $5,000-$20,000 Age Range: 50-85 | • No oxygen equipment • Tobacco use is acceptable |
 | Coverage: $3,000-$40,000 Age Range: 50-80 | • No oxygen equipment • Tobacco use is not acceptable • No hospitalization within the last 12 months |
 | Coverage: $1,000-$30,000 Age Range: 0-85 | • Oxygen equipment is okay • Tobacco use is acceptable • 2 or more hospitalizations within the last 24 months is a decline |
What If You Have Oxygen Equipment To Assist With Breathing?
If your COPD has progressed to the point where a doctor has given you oxygen equipment (whether you use it or not), it’s very difficult to avoid a waiting period.
There are only two providers in the nation that will potentially offer an immediate coverage plan to someone who has oxygen equipment.
If you have oxygen equipment and want a no waiting period burial policy, call us at 1-800-644-2926. You cannot buy these products online or directly from the insurer. You must buy through an agency like Choice Mutual.
How Does Burial Insurance Work?
Burial insurance is a no-exam required whole life insurance policy meant to cover your end-of-life expenses.
These plans are typically available to seniors aged 50-90 and offer coverage of up to $50,000.
Since these plans are whole life insurance, the rates never increase, the coverage lasts forever, and they accumulate cash value.
When you die, the policy pays out cash directly to your beneficiaries.
There are no restrictions on how they spend the money. That means they can pay for funeral costs, medical bills, debts, or other bills.
Additionally, they retain any remaining funds that they don’t use for your final expenses.
Working With An Agent Is Critically Important
To find the best policy, it’s vital that you consult with an independent agent no matter what health issues you have, especially if you have COPD.
Independent brokers represent multiple life insurance companies, so they can objectively compare all of them to isolate your best option.
When it comes to COPD, all the online options from companies like AARP, Colonial Penn, Globe Life, or TruStage will either deny coverage or offer it at a high price with a two-year waiting period.
The companies that offer immediate coverage at the lowest rates to someone with COPD typically sell their policies only through independent agents.
If you have COPD, Call us at 1-800-644-2926, and we will help you secure the best policy given your health history.
- Nationally licensed life insurance agent with over 15 years of experience
- Personal annual production that puts him in the top .001% out of all life insurance agents in the nation.
Anthony Martin is a nationally licensed insurance expert with over 15 years of experience and has personally served over 10,000 clients with their life insurance needs. He frequently authors entrepreneurial and life insurance content for Forbes, Inc.com, Newsweek, Kiplinger, and Entreprenuer.com. Anthony has been consulted as an expert life insurance source for dozens of high-profile websites such as Forbes, Bankrate, Reuters, Fox Business, CNBC, Investopedia, Insurance.com, Yahoo Finance, and many more.
- Nationally licensed life insurance agent with over 19 years of experience
- Best selling Amazon author.
Jeff Root is a nationally licensed life insurance expert with over 19 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.
- Nationally licensed life insurance agent with over 14 years of experience
- Best selling Amazon author of five insurance sales books.
David Duford is a nationally licensed insurance expert with over 14 years of experience. He has personally helped more than 15,000 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.
- Nationally licensed life insurance agent with over 19 years of experience
- Best selling Amazon author.
Jeff Root is a nationally licensed life insurance expert with over 19 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.
- Nationally licensed life insurance agent with over 14 years of experience
- Best selling Amazon author of five insurance sales books.
David Duford is a nationally licensed insurance expert with over 14 years of experience. He has personally helped more than 15,000 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.
