If you are just looking for some quick final expense quotes, use the quote form on this page. With that, if you currently on dialysis, please call us, for your options are very limited.
It probably comes as no surprise that being on dialysis means getting life insurance is pretty much out of the question.
But wait, check this out
While it’s true that dialysis treatment will preclude you from qualifying for traditional life insurance policies. That is not the case with burial insurance. Yes you can get yourself a new final expense life insurance policy even when you have kidney failure requiring dialysis.
At Choice Mutual, we have ample experience helping folks with end stage renal disease who are undergoing dialysis. We were able to help them, and today we will show you exactly how you can qualify for the most affordable funeral insurance policy possible.
In this article, you will learn how burial insurance companies react to dialysis applicants, what realistic choices you will have, and how you can find the absolute best funeral policy.
Here’s The Unadulterated Truth About Burial Insurance On Dialysis
Please be careful about what you read online about this subject. We know that most users will research multiple sites before the settle on a consensus.
We are here to bring you the brutal truth because we don’t want to mislead you. Make no mistake, a lot of what you will read online about final expense life insurance on dialysis is flat wrong.
First of all, you can get a policy even when you are currently receiving dialysis. However, the thing you must know and accept is that there is no life insurance company on the planet that will offer you coverage that protects you at all during the first 24 months. Being on dialysis means you will have to wait this two years before the insurer will pay out a death benefit. If you were to pass during the first 24 months, the insurer would refund all the premiums you have ever paid plus interest.
Please don’t click away just yet
We know and understand that it’s disappointing to learn that it’s impossible to get coverage the protects you in any form during the first two years. We employ you to not think we are making this up. Like we mentioned, our goal is to bring you the truth.
You can leave our site now with the idea that you just need to keep looking for a company that will protect you immediately, but you will wander forever trying to accomplish that. It simply does not exist.
Why Dialysis Patients Have To Wait
The brutal truth about this situation is that people on dialysis have a significantly lower life expectancy compared to the average person. This is why no company will issue you coverage without a waiting period of at least 24 months.
Fortunately, following your doctor’s orders, and faithfully receiving your dialysis treatments can prolong you life for a many years. More than likely, you are on a transplant list, so we hope and pray that a donor one day comes through for you. With that, burial insurance is still very accessible to you. It’s just going to have the aforementioned waiting period.
How Final Expense Companies Underwrite Dialysis
Most people are familiar with the term underwriting. Underwriting is merely the process by which an insurance company assesses your risk level to determine eligibility.
Burial insurance companies will ask you health questions, and they will analyze your prescription history to underwrite your application.
Regardless of how they find out, final expense life insurance companies have 2 responses to applicants who are on dialysis.
- They deny you coverage altogether
- They offer you a plan that has a minimum of a two year waiting period along with a much higher monthly premium
Dialysis in their health questions
Most insurers will ask about dialysis in the following way, or something very similar to this:
Have you ever received or been advised to receive kidney dialysis?
Some companies might tie a specific period of time to their question like this:
Within the last 12 months, have you ever received or been advised to receive kidney dialysis?
No matter how they ask about it, you won’t be able to escape the fact that dialysis pretty much bottlenecks you into one option (detailed below).
Here’s How You Get Burial Insurance On Dialysis
When you are undergoing current dialysis treatment, your only option to secure a new burial policy is to take out what’s called a guaranteed issue life insurance policy. These policies have no health questions. In addition, they do not check your medical history in any way.
But here’s the kicker with these
No matter what insurance company issues a guaranteed acceptance life policy, there are some universal truths you need to know about them.
- There will be at minimum a 24 month waiting period. There are a few life insurance companies that require 3 years, but they are few and far between.
- The monthly premium will be higher compared to a burial insurance plan where you say no to all its health questions.
Best Option for acute kidney failure patients
Acute kidney failure is much more uncommon than kidney failure due to stage 5 chronic kidney disease. The main difference with acute kidney failure is that the dialysis treatment is temporary. Once you kidneys recover, you will no longer need dialysis.
This whole scenario is night and day different than someone with end stage renal failure requiring dialysis. If you are in this circumstance, here’s what you do:
Step 1) Immediately take out a guaranteed issue policy
Step 2) Once you have 12 months under your belt since you last dialysis treatment, apply for a burial insurance plan with a company where they only ask about dialysis within the last 12 months. Since it’s been over a year, you could say no. You would qualify for a policy that protects you immediately, and it will cost a lot less.
The Best No Health Question Policy
At this point, you know which kind of policy is your only option. The only lingering question is- which company offers the best deal on a guaranteed issue policy? Before we jump into that, we need to make something crystal clear.
This is important
The best guaranteed acceptance life insurance policy is merely the one that costs the least, and it only has a 2 year waiting period (3 years is a no go).
Using that formula as a baseline, there are only two life insurance companies that meet those requirements. Make no mistake, there dozens of companies on the market today that offer these plans.
The two we show you here today are by far the absolute cheapest companies out of them all. These two companies are almost identical in price. The usually differ by less than a dollar.
Gerber Life Guaranteed Acceptance Burial Insurance
- Age Limits: 50-80
- Face Amount Limits: $5,000-$25,000
- State Availability: All states except MT
Gerber Life is an excellent company, and we do represent them. If you would like to get a policy with them, give us a call at 1-800-644-2926.
Gerber Life Female Rates
Gerber Life Male Rates
Mutual of Omaha Guaranteed Acceptance Burial Insurance
- Age Limits: 45-85
- Face Amount Limits: $2,000-$25,000
- State Availability: All states except CT, MT, & NY
Mutual of Omaha has a stellar track record in the insurance industry. They are a company that we do represent. However, this guaranteed issue plan by them is not sold through agencies or agents.
They only sell it direct to the consumer. If you want to buy it, you need to call them directly to do so.
The golden rule regarding guaranteed issue life insurance
Obviously, we have made it painfully clear that people with kidney failure requiring dialysis can only get a guaranteed issue plan. However, if that is NOT your situation, then you should not take out a guaranteed issue policy until you thoroughly explore other options.
Here’s the bottom line
Here’s a simple rule to follow regarding no health question policies:
You should only take out a no health question policy once you know for certain that you cannot qualify for a plan where you would be saying no to all the heath questions (or most of them). Then and only then should you resort to a guaranteed issue policy.
The vast majority of people we speak with can and do qualify for a plan that has health questions. In fact, we are able to find policy for 90% of our clients where their coverage protects them in full immediately.
The moral of the story
If you aren’t on dialysis, call us first to find out what your best options are. We will give it to you straight. It’s very likely that a guaranteed issue plan will NOT be your best and cheapest choice on the market.
How To Find The Best Burial Insurance On Dialysis
If you have end stage renal failure, go with Gerber Life or Mutual of Omaha. That’s pretty clear at this point. However, if you are shopping for burial insurance for someone else who is not on dialysis, there is a simple formula you can follow to ensure you find the best plan.
To find the best burial insurance you must consult with a seasoned independent burial insurance agency that represents lots of insurance companies. Only an independent agency (like Choice Mutual) can pull quotes from multiple insurance companies to see which ones would offer you the best price on your burial plan.
Clearly, we sincerely hope you give us the opportunity to earn you business. However, we realize that will not be the case for everyone. If you choose to go elsewhere, just make sure they have lots of carriers they work with. Not to mention, they need to be well versed in how final expense companies respond to health conditions.
As long as you use that as a requirement, you should be in relatively good hands.
If you would like us to give you some no pressure help with this, call us at 1-800-644-2926. You can also fill out the quote form with your phone number, and we will call you.