You can qualify for an affordable final expense life insurance plan with cystic fibrosis.
There are multiple companies that will approve a new policy for you.
In this article, we’ll show you all your options and how to find the best plan.
Article Quick Guide
- The Truth About Final Expense With Cystic Fibrosis
- Policy With Options With CP
- Finding The Best Burial Policy
There are many ways this situation can play out depending on the severity of your case.
Ultimately, most folks with cystic fibrosis can absolutely qualify for senior funeral insurance coverage that covers them in full immediately. In addition, their insurance will cost no more than what anyone else would pay. At the same time, there are certain situations where you might have to pay more and/or endure a waiting period, but it’s rare.
Here’s something awesome
When you submit an application, there will only be health questions. You will never have to take a physical or medical exam. No strangers will ever need to enter your home to complete the application.
Life with cystic fibrosis is challenging. The constant mucus removal and breathing issues sure can be draining. We are happy to report that your condition very likely won’t have any impact on your monthly premiums or coverage.
Underwriting is the process of risk evaluation. Every burial insurance company will employ two procedures to qualify you for their insurance.
- They ask health questions
- They check your prescription history
Both of these combined give the insurer the information they need to determine whether or not you are eligible.
In all honestly, it’s extremely rare that you will find a final expense life insurance company ask specifically about cystic fibrosis.
If you do encounter a company that does ask about CP, it will look something like this.
Have you ever been diagnosed with or been treated for cystic fibrosis?
Watch for questions like these too:
Have you ever had or been treated for any chronic lung conditions?
Here’s the bottom line with these health questions
If you say yes to ANY health question, it will mean one of two things.
- You will pay more money, and still receive a full immediate death benefit.
- You pay more, but your death benefit is reduced during the first two years
Thankfully, there aren’t very many burial insurance companies that ask about cystic fibrosis.
There aren’t very many drugs that are used specifically to treat cystic fibrosis. According to Mayo Clinic, most CP patients take:
- Antibiotics for lung infection treatment and prevention
- Anti-inflammatory medications to reduce airway swelling
- Oral pancreatic enzymes to help you absorb nutrients in the digestive system
- Mucus thinning drugs to help you cough up the mucus
All of these treatments are a complete nonissue except for possibly of bronchodilators. Certain final expense companies will interpret certain bronchodilators as a diagnosis for other diseases that could become an issue.
There are some bronchodilators that could potentially cause you to fall into a higher risk category even though the insurance company doesn’t necessarily take issue with the cystic fibrosis itself.
Basically, certain bronchodilators used to treat COPD and emphysema will cause some burial insurance companies to view you as a person with COPD or emphysema. While we do have carriers that are accepting of these conditions, there aren’t many of them.
In the end, disclosing all of your information to your agent will give them the data they need to fully explore all your options. They will be able to quickly diagnose whether or not your bronchodilator prescriptions will become an issue or not.
Cystic Fibrosis Specific Medications
Below are some of the few medications that are used specifically for CP. If you have filled a prescription for any of these drugs, the insurance company will view you as a CP patient even if you tell them you are not.
- Ivacaftor (Kalydeco)
- Dornase Alfa (Pulmozyme)
If your doctor has ever advised that you need a lung transplant due to your CP, you are totally ineligible for coverage with every company for a plan that has underwriting.
You can still get coverage, but it will come with certain provisions. The only way to get coverage in this situation is to take out what’s called guaranteed issue life insurance.
These policies have no health questions, and they don’t check your medical history in any way.
It’s important to remember that the price of final expense insurance with no health questions is higher compared to plans with health questions (where you answer no to all the questions).
In addition, there is always a two-year waiting period. The insurance company will simply refund all your premiums plus interest during this time rather than pay out the death benefit.
For folks who, for any reason, have ever had or been advised to have an organ or tissue transplant, guaranteed acceptance funeral insurance is the only way to secure new coverage.
There are many insurance companies that offer these no health question policies. The only difference is the monthly price. Presently, the 3 cheapest companies are Mutual of Omaha, Gerber Life, and AIG.
If you have had a lung transplant, we can help you secure a guaranteed issue policy with Gerber Life or AIG. We do represent Mutual of Omaha, but they only allow their guaranteed issue policy to be purchased from them directly.
If you are currently using oxygen equipment for any reason, your only option would be to take out a guaranteed issue burial policy. This situation is identical to that of having or been advised to have a transplant. You cannot qualify for a policy that has health questions.
Every single final expense life insurance company will ask about oxygen use. If you say yes, they will flat out decline you. That’s why your only option is a no health question policy.
- Airway Clearance Techniques: There are a variety of methods used to clear the airways. These procedures won’t impact your eligibility.
- Feeding Tube: It may become necessary to need a feeding tube while you sleep to deliver needed nutrients to your body.
- Bowel Surgery: It’s possible to need bowel surgery to remove a blockage.
- Endoscopy And Lavage: Mucus getting suctioned from obstructed airways via an endoscope.
- Nasal Polyp Removal: This may become necessary if these obstruct breathing.
Here’s the bottom line with these treatments
They won’t’ become a problem in the underwriting process.
Like we said from the beginning, most folks can get a really good burial policy with health issues. The majority of final expense companies are very accepting of this condition, and won’t impose a penalty of some kind.
However, there are dozens and dozens of burial insurance companies, and they all have unique underwriting. With that, you will find a variety of options when you have CP.
Below are all the possible ways a funeral insurance company could respond to an applicant who has cystic fibrosis.
1) They Offer You Their Best Plan
This is in fact the most popular result with most burial insurance companies. When you read over the health questions from various companies, you will notice that the majority of them don’t ask about cystic fibrosis.
In effect, you will qualify for a burial policy that covers you in full immediately. In addition, you will qualify for the lowest price offered by the insurer. Your monthly rate will actually mirror that of what a non CP person would pay.
There are many companies that do this. Foresters Financial is just one example. If you run quotes by filling out the quick quote tool on this page, most of the companies you see will fall in this category.
2) They Charge You A Higher Monthly Premium
In this circumstance, you pay a little more, and your benefit is still 100% from day one.
3) They Charge You A Higher Premium And Reduce Your Death Benefit During The First 2-3 Years
These companies charge you more and stipulate that your policy will only pay out 30-40% of your death benefit if you die within the first year. If you die within the second year of the policy, they would pay out 70-80%.
4) They Charge You A Higher Premium And Impose A Full Waiting Period
In this scenario, the insurance company puts you into their highest risk category possible. Not only will you pay a lot more per month, but your coverage will have a full two year waiting period.
During the waiting period, they will refund all your premiums plus interest (usually 10%) if you die during this time.
It actually does not matter what health issues you have. The formula to finding the best final expense policy is the same.
The best burial insurance plan has the following three characteristics.
- The insurance company has a financially stable track record and a strong balance sheet
- The policy protects you as much as possible as soon as possible
- It has the lowest, or darn near close to it, monthly premium.
How To Find It
Your job is to find a qualified agent or agency that is properly equipped to help you find your burial policy.
That’s especially true if you need burial insurance over 80.
The lowest cost final expense policies are only sold through agents and agencies. They are not sold directly by the insurance company.
Here’s what you look for:
The agency must be independent. This means they can represent as many insurance companies as they want.
- They must represent at least 10 different burial insurance companies.
- They must specialize in final expense life insurance.
- They must have at least a year of experience in this market.
When you combine all of that together here’s what you get:
You get a company that can shop the market for you, and they will have the knowledge necessary to know which companies will accept you.
Oh and Choice Mutual is such an agency that can absolutely help you find the best final expense policy with cystic fibrosis 😎.
You have lots of options in regards to who you buy your policy from. If you choose to work with another organization other than Choice Mutual, please just make sure they are an independent agency with lots of insurance companies to choose from.
Whether you want life insurance for a minor or an adult, working with an agency will yield the best result.
Never buy a policy through the mail, and avoid any company that can only offer you just one insurance company. It’s impossible for any single life insurance company to be the best fit for everyone. That’s why it’s so critically important you work with an agency that has lots of choices.