How To Find The Best Burial Insurance With Schizophrenia

Written on December 6, 2016 by Choice Mutual

Burial Insurance With Schizophrenia

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We think you will agree with us when we say that schizophrenia will make it nearly impossible to secure affordable burial insurance… Or wait, is that just a myth?

Yes it is!

If someone told you that your schizophrenia will prevent you from qualifying for burial insurance or that it will force you to pay high prices, they were flat out wrong! The truth is, there are many companies that welcome applicants with this condition with open arms. We can absolutely get you the lowest cost burial insurance that protects you immediately!

We have a long list of extremely satisfied clients afflicted with this disorder. They paid no more money for their insurance than someone without schizophrenia! How we helped them is what we will show you here today.

This article is going to discuss just how final expense insurance companies respond to applicants who have schizophrenia, what your options are, and most importantly how you can find the best burial plan on the market.

 

The REAL Truth About Burial Insurance With Schizophrenia

Believe it or not, final expense companies are very welcoming to this condition. Essentially, some companies ask about it, and some don’t. It would be safe to say that more companies penalize people for it compared to those that do not. Regardless, the key is having choices.

So here is the bottom line.

If you have schizophrenia, we can easily get you approved for a level death benefit. This is a true statement even if your condition is acute. You will pay the lowest rate possible and you will be fully protected from day one. This is true even if you have been hospitalized within the last two years. While some final expense companies decline or rate applicants due to this condition, we are aware of many that do not.

Here is something else you may be surprised by.

With final expense life insurance for seniors, the insurance companies will never require you to take any kind of in person evaluation. The only thing you will ever do is answer some health questions. The insurance company won’t even request copies of your medical records. It just how burial insurance works.Burial Insurance With Schizophrenia

When it’s all said and done, schizophrenia is a condition that can be kept under control when it’s managed well. There are some burial insurance companies out there that realize this, and they are the ones that will view you in the best light. Without question, these are the companies that will offer you the best deal.

 

Schizophrenia Underwriting

You probably want to pay the least and be covered as soon as possible right? Sure you do. Everyone does. To accomplish that, you must apply for a burial insurance plan that has underwriting. The underwriting will merely consist of some health questions and a prescription history check.

With this information, the insurance company can verify if you are worthy of being approved for their lowest rating and immediate protection. With Choice Mutual, most applicants are successfully approved for a level death benefit.

 

The Health Questions

Like we said before, there are some companies that do ask about this condition. The thing is, the questions could appear in many different forms. Bear in mind that every company is different. With that, below are probably all the various ways you might see them ask about schizophrenia:

  • In the last 2 years, have you been diagnosed or been treated for any form of psychosis?
  • In the last 2 years, have you been hospitalized due to anxiety, depression, or any other mental health disorder?
  • In the last 2 years, have you been diagnosed or treated for severe depression or mood disorder?
  • In the last 2 years, have you been diagnosed or treated for schizophrenia?

Please also remember that different companies use different look back times. Two years is definitely the most common. At the same time, some companies might ask about this stuff looking back 3-5 years or your entire life.

 

Medications

The secret to living a balanced healthy life with schizophrenia is to properly follow your doctor’s treatment plan. In most cases, that involves medication. Below are the all the medications that burial insurance companies are on the lookout for. For the companies that penalize applicants for schizophrenia, these prescriptions will definitely indicate to them that you have the condition.

Burial Insurance With Schizophrenia

  • Aripiprazole (Abilify)
  • Asenapine (Saphris)
  • Brexpiprazole (Rexulti)
  • Cariprazine (Vraylar)
  • Chlorpromazine
  • Clozapine (Clozaril)
  • Fluphenazine
  • Haloperidol
  • Iloperidone (Fanapt)
  • Lurasidone (Latuda)
  • Olanzapine (Zyprexa)
  • Paliperidone (Invega)
  • Perphenazine
  • Quetiapine (Seroquel)
  • Risperidone (Risperdal)
  • Ziprasidone (Geodon)

This probably comes as no surprise, but it’s important to put things into context. Every life insurance company has different underwriting criteria, and they all respond in their own ways to various health conditions. Below is an exhaustive list of all the possible responses funeral insurance carriers could take when they encounter an applicant with schizophrenia.

 

1) They Will Impose A Full Two Year Waiting Period And Charge You More Money

First, some companies may charge you an extra 30%, and some may charge you up to 60% more. Every company is different. Either way, if they have a waiting period, it will last 2 years. Basically , this means they will not pay out any benefits on your policy if you pass away during the first two years. If that were to happen, they would refund all your premiums plus interest. Usually, it’s 10% interest with most companies.

 

2) They Will Impose A Partial Waiting Period And Charge You A Little Bit More

In this circumstance, they would charge you about 15-40% more. In addition, they will stipulate that you policy will pay out a certain percentage of the death benefit during the first year, and a higher percent during the second year. Usually, its 30-40% in the first year, and 70-80% during the second year.

 

3) They Will Do Nothing

As mentioned at the beginning of this article, there are absolutely companies that could care less about schizophrenia. For these companies, you are essential equivalent to an applicant that has literally no health issues whatsoever. Thank God for these companies because they allow you to secure instant coverage and low rates.

 

What About Hospitalizations?

Here’s the thing about being hospitalized for schizophrenia. Some companies care and some don’t.

Are you sensing a theme here?

It’s really no different than any other health issues. Some companies welcome certain conditions while some don’t.

You should know that there are some burial insurance applications with some companies that will specifically ask if you have been hospitalized (could be for any reason or because of certain conditions) within the last 12 months. In most cases, any company that asks that kind of question will usually decline you outright.

Here’s the most wonderful news.

Just like there are companies that don’t care about schizophrenia, there are also companies that don’t care if you have been hospitalized for it (or any other condition for that matter). So even if you had a bad episode and had to be hospitalized for a period of time, you can still easily qualify. Moreover, you will still pay the same rate as a person in perfect health.

Crazy right?

This may sound too good to be true. We understand this sentiment, but it’s really the power of choices. Why do you think our name is CHOICE Mutual? It’s because having choices rules. It’s the only way that we can ensure we truly server our customers by helping them find which company looks at their health the best.

 

How To Find The Best Burial Insurance With Schizophrenia

As you can tell by now, we know how companies can respond to this condition. You can clearly see for yourself that you should find one of the companies that does nothing when they encounter an applicant with schizophrenia.

So here’s the key question: How do you find those companies?

Therein lies the problem that you must solve. However, you yourself don’t need to find them. You need to find someone who can find them for you. Here’s the secret recipe that explains what we mean.

To find the best burial insurance with schizophrenia, you absolutely must work with an independent broker that has lots of experience and has access to MANY burial insurance companies. You broker will sort through dozens of insurance companies to pick out each one that is cool with schizophrenia. Then they will pull quotes from all those companies to see which company comes in at the lowest.

And do you want to know the best part?

Burial Insurance With SchizophreniaChoice Mutual is a company just like that (but we have a feeling you knew that already). Yes we have lots of companies, and many of them are totally fine with applicants with schizophrenia.

However, even if you choose not to work with us, you will still do okay provided you work with a company that fits the description we gave.

About ChoiceMutual.com
About ChoiceMutual.com

Choice Mutual works with all the top burial insurance companies throughout the nation to secure you the best price possible.

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