Many people are under the impression that finding burial insurance on blood thinners just can’t be done. Thankfully, nothing could be further from the truth. It is possible to find affordable burial insurance even when you are on blood thinners like Coumadin. Getting affordable funeral insurance with heart conditions can be challenging only if you work with the wrong company. Fortunately, you found us, so now you are in good hands.
But wait, the good news doesn’t stop there…
It is very possible that you could qualify for a final expense life insurance plan that treats you exactly like they would treat a marathon runner even though you are taking blood thinners!
We know that sounds crazy, but this is a reality that many of our clients have realized.
Today, we are going to talk about finding, qualifying for, and securing affordable final expense insurance when you take medications to thin your blood. You will learn how insurance companies underwrite a blood thinner prescription, what options you have, and most importantly how YOU can find the absolute best and lowest cost policy on the market.
What To Expect When Shopping For Burial Insurance On Blood Thinners
It probably comes as no surprise that most (not all) insurance companies will view you as a higher risk because you are on blood thinners. While that may be the case, it does not mean you will be locked out of qualifying for some affordable coverage.
Here’s the bottom line when it comes to blood thinners…
We have many companies that will not hold a blood thinner prescription against you. It’s absolutely possible for you to secure an immediate benefit that has no waiting period whatsoever. Furthermore, you can get a payment that is equal to what a person in perfect health would pay. If this news comes as a shock to you, it’s only because you have yet to deal with a professional final expense agency like Choice Mutual.
Want to know some other really awesome news?
With final expense life insurance, you never have to endure a medical exam as part of the application. Moreover, you won’t need to obtain copies of your doctors records, EKG’s, or stress tests. There are only health questions.
Blood thinner underwriting
In most cases, the health questions on a burial insurance application will not contain the words “blood thinner”. In fact, there often times are no questions that directly relate to the usage of blood thinners.
You might be thinking, “this sounds really odd”
We get that, so allow us to explain.
Every final expense life insurance company will have a medication list. On this list are various medications. There are always flagged medications on these lists that result in different actions. With a lot of funeral insurance companies, blood thinners are flagged.
Remember, every insurance carrier will respond in their own way to blood thinners. For those that respond negatively, their medication list will show that blood thinners result in the applicant being placed in a higher risk category if they were taken for certain conditions (Like a stroke for example).
Time is also another huge factor in the underwriting of blood thinners. With most companies, their medication lists will often show different results depending on how long you have been on them. Lots of final expense carriers have what’s called a “first fill” protocol. Basically, this is where the insurer makes their decision about your blood thinner usage based upon how long it’s been since your very first prescription fill.
In most cases, insurers will not care about your blood thinner usage if it has been 2 years or more since your first fill. On the flip side, if you have first filled your prescription within the last 2 years, lots of insurance companies will consequently place you in a higher risk category that will trigger higher prices and/or waiting periods.
Just remember, we have companies that could care less about a blood thinner prescription even if you were first prescribed them recently.
Common Blood thinner medications they look for
Blood thinners can be prescribed for a variety of reasons. Regardless of the reason, there are different kinds of blood thinners that burial insurance companies will be on the lookout for. Below are the most common ones.
- Warfarin (Coumadin)
- Apixaban (Eliquis)
- Edoxaban (Savaysa)
- Dabigatra (Pradaxa)
- Rivaroxaban (Xarelto)
- Plavix (Clopidogrel)
- Ticlid (Ticlopidine)
If you have filled a prescription for any of these drugs it will trigger whatever response the insurance company may have in regards to blood thinners. Every insurance company is different, and all of them will respond in their own way. However, as we said from the beginning, we have access to companies that are very accepting of these medications. To be clear, when we say they are very accepting, it means they will not penalize you for them.
The various ways burial insurance companies respond to blood thinners
As is the case with virtually all health conditions, these companies will all react to blood thinners in their own way. With that, there aren’t too many different ways they will respond. Below you see every possible action these final expense life insurance companies might take due to your blood thinner prescription.
1) They will require you pay more money per month
This is fairly straightforward. They merely require you pay a higher premium to offset the increased risk of being on medications that thin the blood. You are still covered in full from day one.
2) They impose a waiting period and charge you a higher monthly premium
Insurance companies that take this response are usually not fond of applicants on blood thinners. That part is obvious. Basically, you pay about 40-60% more compared to someone who is perfectly healthy. In addition, your benefits will not pay out during the first 2 years (unless the death is accidental). This is quite common for a lot of insurance companies when you are on plavix, coumadin, etc.
3) They require you to pay a bit more money and they limit the payout of your death benefit during the first 2 years
With this option, you are only paying a little more (15-30% usually). In addition, they will pay some of your death benefit if you die within the first two years. Usually, the insurer will pay out 30% if you die within the first year, and 70% during the second year. All in all, this action is quite uncommon among most insurers. There are only a few out there that do this.
4) They do nothing because they don’t care about your blood thinner usage
This is exactly what it says. These insurance companies treat blood thinners like they treat trivial stuff such as hypertension or cholesterol medications. With these companies, you literally pay the same price as a person who is in pristine health. Not to mention, you are covered in full from day one.
Questions we would have for you
Upon finding out that you are taking a blood thinner, we have some specific questions we will ask you. Our goal is to gather the information needed, so that we can properly recommend the best carrier for you. In the end, we want to find which company will respond most favorably because that will lead to the lowest price. Oh and don’t forget, this is key to getting you an immediate benefit and avoiding a waiting period if at all possible (usually is).
- What blood thinners are you on now?
- When did you first fill a prescription for the blood thinner(s)?
- What was the reason why they prescribed it in the first place?
- Have you ever stopped filling your prescription and started it back up again within the last 2 years? (Basically, have you consistently filled the prescription on a regular basis since you were first prescribed it?)
In addition to these questions, we would definitely inquire about any other health issues you deal with, and any other medications you are taking. When it’s all said and done, we would analyze your entire health profile to match you with the best company that will give you the best deal.
As we said, we absolutely have companies that will gladly accept you in light of your blood thinner prescriptions. However, there is no telling if you have other health issues they will not accept. This is why it’s so key that we speak with you. We need the whole picture, so we can properly do a risk analysis for you.
How To Find The Best Burial Insurance On Blood Thinners
No matter how long you have been on your blood thinners, you, like everyone, want to know how you find the best deal possible. Well, it’s actually quite simple. Just to make sure we are super clear on this, lets first define what constitutes the “best burial insurance policy”.
The best final expense policy is merely the one that costs less than the others, and has no waiting period if at all possible (which is usually obtainable).
Here’s the truth.
A $10,000 burial insurance policy is the same with company A as it is with company B. The only difference is the price. Do you want to pay more for no reason? Our customers rigorously say no. Everyone, wants to pay the least, and we think that makes perfect sense.
Now that we are clear on that, let’s talk about how you find the best burial insurance on blood thinners. This is the really easy part, and not just because you already found us. This formula will work for you even if you decide to not work with us.
To get the best burial insurance on blood thinners, you must at all costs consult with a highly experienced independent final expense agency that represents lots of different carriers.
Pretty sweet how simple that is huh?
The cold hard truth is that you need to lean on an experienced professional agency to help you with this. There are tons of insurance companies out there that are not welcoming of blood thinner usage. If you call a company that only has a few carriers to choose from, and they all don’t like blood thinner usage, who gets the shaft?
That’s why it’s so critical you work with an agency like Choice Mutual that represents dozens of different carriers. In the end, a company like us can identify all the carriers that welcome blood thinner usage with open arms. Then, it’s just a matter of sorting them by price to see which one is the cheapest.
Here’s the bottom line
We have literally helped hundreds upon hundreds of applicants successfully secure affordable burial insurance in spite of their blood thinner medications. If you want expert professional help that will save you time and money call us at 1-800-644-2926. You can also let us call you by filling out the quote form with your phone number.