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According to most websites about life insurance, securing affordable burial insurance with a defibrillator is really hard…
But isn’t that is just a myth?
Yes it is. It’s absolutely a myth. Having a defibrillator does not automatically mean high burial insurance premiums.
The truth is, you can easily get yourself into a final expense life insurance plan that doesn’t break the bank. Over the years, we have assisted many folks with defibrillators do just that. Today, we are going to show you how we were able to help them, so you learn the secrets for yourself.
In this article, we will reveal how funeral insurance companies underwrite applicants with defibrillators, what options you will have, and how you can find the best burial insurance with a defibrillator.
The Cold Hard Reality Of Burial Insurance With A Defibrillator
Quite frankly, you will find that it’s extremely rare for any burial insurance company to even ask if you have a heart defibrillator implant. With that, it could have an effect on the underwriting process even if an insurer does not specifically ask if you have an ICD.
In most cases, having a defibrillator will have no effect whatsoever on your burial insurance application. There are lots of final expense companies that will not ask if you have one. Since they don’t ask, it means they don’t care.
While it’s true there are some companies that view a person with an ICD as higher risk, they are fortunately few and far between. The only time a defibrillator will present an issue of some kind is if you recently had it installed.
Oh and check this out.
You might be thinking you will have to take a medical exam or have to provide your doctor records. We are happy to report that this will not be necessary. NO final expense life insurance policy will require you to endure a physical. There are only health questions. Sometimes, there are no health questions.
At the end of the day, the vast majority of defibrillator clients we run into qualify for a level death benefit. About the only time they don’t is if they had their ICD installed within the last year.
Once we learn you have a defibrillator, there will be some specific questions we will ask you. Our goal is to gather the information we need, so we can accurately determine what effect, if any, your defibrillator will have. Here are the questions we will have for you:
- When was your defibrillator installed?
- Have you had a battery change? If so, when was the last one?
- What caused you to need a defibrillator?
- What other health conditions do you deal with, if any, and what medications do you take?
With answers to the above questions, we can 100% outline clear expectations for you.
Here’s the bottom line.
In almost every case, the only issue at hand that must be addressed is WHEN was your ICD installed. Every funeral insurance company views a defibrillator being implanted as a heart or circulatory surgery. Furthermore, heart and circulatory surgeries are something EVERY burial insurance company will ask and care about.
You will not find any health questionnaire that does not specifically ask about having a recent heart or circulatory surgery. In almost all cases, every burial insurance application will ask about heart or circulatory surgeries within the last 12 months or the last 24 months. You will rarely ever see them go beyond the 2 year mark.
Here’s what you should expect
If you’ve had a recent heart or circulatory surgery, it will have an impact on what you pay, and whether or not you receive a waiting period on your policy. Remember, there are dozens upon dozens of final expense companies that could care less if you have a defibrillator or not. The only issue you need to be concerned with was when it was installed. Below you will see how the installation date of your ICD has an impact, if any.
1) Your Defibrillator Was Installed Within The Last Year
In this circumstance, you will pay a higher monthly premium and you will have a two year waiting period on your policy. Unfortunately, there is no way to avoid this. Thankfully, you can still get coverage, and it won’t even cost you a ton more. Usually, your price will be about 15-30% higher than what a healthy person would pay.
2) Your Defibrillator Was Installed Over A Year Ago, But Within The Last 2 Years
Thankfully, there are indeed some burial insurance companies that only look back one year on heart and circulatory surgeries. With them, you will qualify for their lowest rates and immediate protection since your ICD was installed over a year ago.
3) Your Defibrillator Was Installed Over 2 Years Ago
At this point, you are in the clear. You will easily obtain a level death benefit from dozens of funeral insurance companies. Your rates will be as low as they can get, and you will be fully protected from day one of your policy.
How About Battery Changes?
A battery change involves a simple outpatient surgery that is relatively minor. The truth is that some insurance carriers will view this procedure as a heart or circulatory surgery. With them, you would have to pay a higher premium and be stuck with a waiting period if it was recent.
At the same time, we absolutely have burial insurance companies that don’t view an ICD battery change as a qualifying heart or circulatory surgery. If you have recently had a battery change, we would put you with one of those companies, so that you get an immediate benefit and the lowest rate they offer. Having choices is great isn’t it?
How To Find The Best Burial Insurance With A Defibrillator
By now you are probably well aware of how your ICD will impact your burial insurance if it does at all. with that, the formula we always recommend to find the best final expense insurance is ultra simple.
To find the best burial insurance with a defibrillator, you must work with a highly experienced independent broker like Choice Mutual. Only an independent broker with access to multiple insurance companies can compare rates from all of them to find you which one offers you the best price.
This may come as no surprise to you, but we highly recommend you allow us to help you with this. however, if you decide to work with another agent or agency, just make sure they have similar qualities. They MUST have lots of insurance companies they can choose from.
In addition, they need to be highly experienced. Only through experience can one become ultra familiar with the underwriting for each of these companies. Knowing which carriers will view your health most favorably is the key to getting you the best deal.
We are speaking from personal experience here. It takes years to learn how each company underwrites. In the end, if you find a company like this, you should be in good hands.
This is all we do. We specialize in final expense life insurance. If you want to give a us a chance to earn your business, please call us at 1-800-644-2926. You can also let us contact you. Just fill out the quote form with your phone number, and we will be in touch shortly.