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Shopping for burial insurance while being on oxygen can be a very frustrating endeavor, but only if you talk to the wrong company. When it comes to oxygen, it’s very straightforward.
Here’s the bottom line when it comes to oxygen
First and foremost, yes you can absolutely get a policy. There is no scenario where we can’t get you a new burial policy in spite of your oxygen use. With that, the details regarding what you will pay, and when your coverage is effective will depend on the exact nature of your individual situation.
More times than we can count, we have assisted folks on oxygen get the lowest cost funeral insurance possible. There was never one time where we had to turn someone away. Today, we will pull back the shades on this issue. By the end, you will know exactly what to expect.
This article will show you very clearly how burial life insurance companies react to oxygen users, what your choices will be, and how you can find the best and cheapest burial policy.
The Cold Hard Truth About Burial Insurance On Oxygen
This may come as no surprise to you, but EVERY single life insurance company will unequivocally inquire about oxygen use. You will not find a single carrier that does not ask about it.
The truth is there is only one possible scenario where you can secure a level death benefit while using oxygen. That one exception is sleep apnea. If you use oxygen, at any point for any reason other than for sleep apnea, you cannot and will not qualify for coverage that protects you during the first two years. If anyone is telling you otherwise, they are lying to you. Oxygen use (other than for sleep apnea) is considered an uninsurable condition. Please remember, we can still get you a policy, but it won’t pay out a death benefit if you pass away during the first two years. Instead, the insurance carrier will simply refund all your premiums plus interest.
We believe in being direct, and delivering the truth. While we understand that you want to be protected from day one, you must accept that it’s simply not possible due to the oxygen use.
We hope and pray you don’t exit this page thinking to yourself- “I’ll keep looking around. There’s a policy out there that will cover me right away”
Don’t fall into that trap!
What would we gain by misleading you?
The answer is nothing. If there was an insurance company that offered an immediate benefit to oxygen users, why wouldn’t we offer it? The truth is, we absolutely would because we would be drowning in new clients. We would be able to offer a product that nobody has ever seen, and the demand would be insane.
Final Expense Oxygen Underwriting
Every burial insurance application that has underwriting will have health questions and a prescription history check. This is the information the insurer will use to determine you eligibility.
Every health questionnaire with every carrier will have different sections for various health conditions. Usually, the first set of health questions on an application are the knockout questions. If you answer yes to any of these knockout questions, you are totally ineligible for coverage what that carrier.
One of these two questions will appear in the knockout section for every funeral insurance company.
- Are you currently using oxygen equipment to assist with breathing?
- Within the last 12 months, have you used or been advised to use oxygen to assist with breathing?
There are no exceptions to this. They all do it.
Sorry but oxygen use means you cannot get coverage that is effective during the first two years.
Sleep Apnea Is The Only Situation Where Oxygen Use Is Accepted
Most insurance companies will have their oxygen question read as follows:
“In the last 12 months, have you used, or been advised to use, oxygen equipment to assist with breathing excluding use for sleep apnea?
Some carriers may not specifically mention sleep apnea as an exception within the health question itself. With them, their underwriting guide specifically states that they allow sleep apnea as an exception even though this exception is not overtly mentioned in the health questionnaire.
Oh and don’t forget
There are some carriers that do not allow for sleep apnea as an exception, but most do.
This is key
If you are using oxygen for sleep apnea and you use it for another condition (like COPD for example), that won’t be accepted by the insurance companies. The oxygen use can ONLY be for sleep apnea. Any other reason is a flat decline.
Your Only Option For Non Sleep Apnea Oxygen Use
Ok so by now it’s painfully clear that being on oxygen for anything other than sleep apnea means you can’t qualify for a plan that has underwriting.
So here’s the only way you can secure a new policy
You have to take out a guaranteed issue life insurance policy. These have no health questions of any kind, and they do not assess your health in any capacity. They only have age and mental capacity (you must be in a state of mind where you can legally enter into a contract) requirements.
These kinds of plans do cost more compared to a plan that has health questions. The insurance companies that issue these plans are taking on a considerable amount of risk relative to burial insurance plans that have underwriting. That is why the prices are 15-50% higher on guaranteed issue plans.
In addition to a higher monthly premium, your policy will not pay out a death benefit if you pass during the first two years. If you do pass away during the first 24 months, they will give you back every dollar you ever gave them plus interest. With most insurance companies, the interest is 10%.
Don’t make this mistake please
We hear it all the time. Folks will say- “I’m not going to fool with it since I’m not covered during the first 2 years”
First of all, we fully understand and empathize with the fact that you want immediate coverage. As we have thoroughly discussed, this just isn’t possible.
Consider These Facts About Guaranteed Acceptance Plans
- You can’t lose money because they will give you back all your money.
- No bank will ever give you anything remotely close to 10% interest on your money. 10% interest is money you would not earn when you save on your own.
- After the 2 years is up, you are fully protected for your full death benefit, and for life!
As you can see, you literally have nothing to lose, and everything to gain.
For your family’s sake, we urge you to get it in place as soon as possible. We don’t even care if you don’t go through us. Just do it with someone, and do it right away.
Best guaranteed issue insurance company
There are dozens of life insurance companies out there that offer these no health question policies. Here are just some to name a few:
- Mass mutual
- Vantis Life
- Gerber Life
- Mutual of Omaha
- United Home Life
- Colonial Penn
- New York Life
Most all of these carriers have the standard 2 year waiting period. There are a couple that have 3 year waiting periods. Other than the waiting period being 2 or 3 years, the only other difference among all them is what they charge for the insurance.
So which one is the best and cheapest?
We absolutely recommend Gerber Life because they are lowest cost carrier where you can still have an agent. Mutual of Omaha is cheaper for certain ages, but they only sell it direct to consumer.
That means you have no agent who can help you in the future. If you don’t care about having an expert burial insurance agent to work with throughout your life when you have further insurance needs, then call Mutual of Omaha.
However, if you understand and appreciate being served by true professionals who are always looking out for your best interests, get a Gerber Life plan through us. If you are like most of our clients, you will likely have a final expense insurance need in the future. It could be for you, a family member, or a friend. Wouldn’t it be nice to have an impartial funeral insurance advocate at that time instead of having to go search for one? Below you can see some sample rates from Gerber Life.
Gerber Life Guaranteed Acceptance Burial Insurance- Female
Gerber Life Guaranteed Acceptance Burial Insurance- Male
In addition to these sample rates, feel free to use the quote tool on this page. A list of companies with quotes will pop up. Just make sure you look for Gerber Life, so you can exactly what it will cost you at your precise age.
How To Find The Best Burial Insurance On Oxygen
There really isn’t much to figure out at this point because you know what we know. If you use oxygen for sleep apnea, you have tons of level death benefit options. If you are on oxygen for any reason, you should get a policy with Gerber Life or Mutual of Omaha.
No matter what, to find the best burial insurance on oxygen, you have to work with an independent brokerage that represents lots of different insurance companies. An independent agency like this will shop the market for you to see which carrier is going to give you the best price.
Where do you find an independent agency you can trust?
This is easy. You already found us! Choice Mutual is an independent final expense brokerage. This is all we do, and we work with lots of companies. We have the experience and tools necessary to help you find the best burial plan now and in the future.