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You may think it’s impossible to secure a new burial life insurance policy after you have been diagnosed with dementia or Alzheimer’s.
You would be wrong
You can still qualify for an affordable final expense life insurance plan even after having been formally diagnosed with either of these conditions.
Over the years, we have successfully assisted many clients with dementia qualify for a burial insurance plan that doesn’t break the bank. Today we are going to show you very clearly how you can secure affordable coverage after a dementia or Alzheimer’s diagnosis.
This article will show you how insurance companies respond to someone with these afflictions, what your options are, and how to find the best burial policy.
The Undisputed Reality About Burial Insurance With Dementia or Alzheimer’s
Take caution if you go searching online about how seniors with dementia or Alzheimer’s can qualify for final expense life insurance. Sadly, you will find a lot of misinformation. Fortunately, you found us, and we will give it to you straight. We’ve dealt with pretty much every health issue imaginable.
First and foremost, you can get a policy. However, you should know that anyone with dementia cannot qualify for a funeral insurance plan with any company that pays benefits during the first 24 months. You can get a policy, but you will have to wait two years before it will pay out a death benefit. If you were to pass during the waiting period, the insurance company would refund all your premium plus interest.
Here’s the deal
Alzheimer’s and dementia are very serious conditions that greatly reduce life expectancy. That is why no life insurance company will offer you coverage that protects you during the first two years.
Fortunately, dementia and Alzheimer’s treatments have progressed quite a bit over the years. With the right treatments, you can live many years, and enjoy a high quality of life. When it comes to burial insurance, you can still get a new policy, but it will have the waiting period we mentioned.
How Final Expense Companies Underwrite Dementia & Alzheimer’s
Every burial insurance plan that has underwriting will have a series of health questions. In addition, they will check your medication history as a way of verifying your health.
When it comes to Alzheimer’s or dementia, funeral life insurance companies view both of them equally. Having dementia is the same as having Alzheimer’s, and vice versa.
Life insurers will react in one of two way once they learn you have dementia or Alzheimer’s
- They flat out decline you (by far the most popular response)
- They offer you a plan that has a two year waiting period along with a significantly higher premium
Please don’t forget this
We don’t mean to beat a dead horse, but this is something people seem to be in disbelief about.
There is no life insurance company that will offer coverage that protects you during the first 24 months. Please don't think we are putting you on about this. It's the truth for all insurers.
The Health Questions
You will pretty much always find burial insurance companies ask about these conditions in the following way (or something very close to this):
Have you ever been diagnosed with, been treated for, or been advised to receive treatment for dementia or Alzheimer’s disease?
Again, a yes answer to that question, with any company, will result in a flat decline or a modified plan that has a waiting period and a higher premium.
Medications
Let’s say you said “No” to the dementia health question on the application. Some people think doing so is a sneaky way to get past the insurance company (very bad idea by the way).
This is important
All final expense life insurance companies will run a prescription history check. Their goal is to validate your health status so to speak. When it comes to dementia or Alzheimer’s, there are certain drugs they know to look out for.
Below is a list of all the common Alzheimer’s & dementia drugs they have flagged. If you have ever filled a prescription for any of these pills (even if you never took them), you will always be viewed as a dementia patient. 
Once any of these are in your prescription history, there is no going back. You will forever, by every insurer, be viewed as person that has Alzheimer’s or dementia.
- Acetyl L-Carnitine
- Aricept
- Cognex
- Donepezil
- Ergoloid Mesylates
- Exelon
- Galantamine
- Hydergine
- Namenda
- Razadyne
- Reminyl
- Rivastigmine Tartrate
How To Get Coverage When You Have Alzheimer’s Disease Or Dementia
To secure a new policy with Alzheimer’s disease or dementia, you have only one option. You can only buy a guaranteed issue life insurance policy.
A guaranteed acceptance policy has no health questions, or medical history assessments of any kind. The insurance company will literally issue the policy to anyone.
The only requirement is that the insured is of mental capacity to legally enter into a contract. As long as the insured can do that, they qualify.
There are two key elements to these policies you should know up front.
- Every company that sells these no health question policies will impose, at minimum, a two year waiting period. Most insurers will impose a 2 year waiting period, but there are few that have a 3 year waiting period. There is no company on the planet that offers a guaranteed issue policy that pays out any death benefits during the first 24 months.
- These policies do have a higher monthly premium compared to burial plans where an applicant responds “No” to all the health questions.
The Best Guaranteed Issue Life Insurance Companies
First and foremost, you should look for a guaranteed issue burial plan that has a two year waiting period. Only take a 3 year wait if it’s your only option (unbelievably rare). With that, here is the formula to determine which company offers the best no health question policy.
The best guaranteed issue plan is the one that costs the least and only has a two year waiting period.
These are two companies that fulfill those requirements.
- Gerber Life
- Mutual of Omaha
The price with each of them is extremely close. Honestly, they are typically within cents of one another. There are some age brackets where Mutual of Omaha is cheaper, and there are some ages where Gerber is cheaper.
Gerber Life Guaranteed Issue Overview
- Face Amount Limits: $5,000-$25,000
- Age Limits: 50-80
- State Availability: All states except MT
We represent Gerber Life, and can absolutely help you get a policy with them. Below you can see a full list of their premiums. The rates are the same for tobacco and non tobacco users. Call us at 1-800-644-2926 and we will get it done for you very quickly.
Gerber Life Female Rates
| AGE | $5,000 | $10,000 | $15,000 | $20,000 |
|---|---|---|---|---|
| 50 | $14.53 | $28.14 | $41.75 | $55.37 |
| 51 | $15.17 | $29.43 | $43.68 | $57.93 |
| 52 | $15.86 | $30.80 | $45.74 | $60.68 |
| 53 | $16.59 | $32.27 | $47.94 | $63.62 |
| 54 | $17.42 | $33.92 | $50.42 | $66.92 |
| 55 | $18.38 | $35.84 | $53.30 | $70.77 |
| 56 | $19.30 | $37.68 | $56.05 | $74.43 |
| 57 | $20.30 | $39.69 | $59.08 | $78.47 |
| 58 | $21.36 | $41.80 | $62.24 | $82.68 |
| 59 | $22.50 | $44.09 | $65.68 | $87.27 |
| 60 | $23.70 | $46.48 | $69.25 | $92.03 |
| 61 | $24.57 | $48.22 | $71.87 | $95.52 |
| 62 | $25.48 | $50.05 | $74.62 | $99.18 |
| 63 | $26.35 | $51.79 | $77.23 | $102.67 |
| 64 | $27.27 | $53.63 | $79.98 | $106.33 |
| 65 | $28.19 | $55.46 | $82.73 | $110.00 |
| 66 | $29.24 | $57.57 | $85.89 | $114.22 |
| 67 | $30.48 | $60.04 | $89.60 | $119.17 |
| 68 | $31.81 | $62.70 | $93.59 | $124.48 |
| 69 | $33.28 | $65.63 | $97.99 | $130.35 |
| 70 | $34.83 | $68.75 | $102.67 | $136.58 |
| 71 | $36.67 | $72.42 | $108.17 | $143.92 |
| 72 | $38.59 | $76.27 | $113.94 | $151.62 |
| 73 | $40.65 | $80.39 | $120.13 | $159.87 |
| 74 | $42.99 | $85.07 | $127.14 | $169.22 |
| 75 | $45.60 | $90.29 | $134.98 | $179.67 |
| 76 | $50.78 | $100.65 | $150.52 | $200.38 |
| 77 | $56.65 | $112.38 | $168.12 | $223.85 |
| 78 | $62.98 | $125.03 | $187.09 | $249.15 |
| 79 | $69.58 | $138.23 | $206.89 | $275.55 |
| 80 | $76.54 | $152.17 | $227.79 | $303.42 |
Gerber Life Male Rates
| AGE | $5,000 | $10,000 | $15,000 | $20,000 |
|---|---|---|---|---|
| 50 | $19.66 | $38.41 | $57.15 | $75.90 |
| 51 | $20.21 | $39.51 | $58.80 | $78.10 |
| 52 | $20.90 | $40.88 | $60.87 | $80.85 |
| 53 | $21.77 | $42.63 | $63.48 | $84.33 |
| 54 | $22.64 | $44.37 | $66.09 | $87.82 |
| 55 | $23.51 | $46.11 | $68.70 | $91.30 |
| 56 | $24.34 | $47.76 | $71.18 | $94.60 |
| 57 | $25.25 | $49.59 | $73.93 | $98.27 |
| 58 | $26.40 | $51.88 | $77.37 | $102.85 |
| 59 | $27.59 | $54.27 | $80.94 | $107.62 |
| 60 | $28.78 | $56.65 | $84.52 | $112.38 |
| 61 | $29.79 | $58.67 | $87.54 | $116.42 |
| 62 | $30.85 | $60.78 | $90.70 | $120.63 |
| 63 | $31.95 | $62.98 | $94.00 | $125.03 |
| 64 | $33.23 | $65.54 | $97.85 | $130.17 |
| 65 | $34.60 | $68.29 | $101.98 | $135.67 |
| 66 | $35.84 | $70.77 | $105.69 | $140.62 |
| 67 | $37.58 | $74.25 | $110.92 | $147.58 |
| 68 | $39.78 | $78.65 | $117.52 | $156.38 |
| 69 | $42.17 | $83.42 | $124.67 | $165.92 |
| 70 | $44.41 | $87.91 | $131.41 | $174.90 |
| 71 | $47.21 | $93.50 | $139.79 | $186.08 |
| 72 | $50.42 | $99.92 | $149.42 | $198.92 |
| 73 | $54.08 | $107.25 | $160.42 | $213.59 |
| 74 | $58.21 | $115.50 | $172.79 | $230.09 |
| 75 | $62.79 | $124.67 | $186.54 | $248.42 |
| 76 | $69.67 | $138.42 | $207.17 | $275.92 |
| 77 | $77.92 | $154.92 | $231.92 | $308.92 |
| 78 | $88.00 | $175.08 | $262.17 | $349.25 |
| 79 | $99.00 | $197.08 | $295.17 | $393.25 |
| 80 | $110.92 | $220.92 | $330.92 | $440.92 |
Mutual of Omaha Guaranteed Issue Overview
- Face Amount Limits: $2,000-$25,000
- Age Limits: 45-85
- State Availability: All states except CT, MT, & NY
We cannot help you get a guaranteed issue policy with Mutual of Omaha because they only sell it direct to consumer. That means you have to call them directly to buy it.
How To Find The Best Burial Insurance With Dementia Or Alzheimer’s
At this point you already know that your only option is a guaranteed issue plan with either Gerber Life or Mutual of Omaha. Beyond that, if you need burial insurance for someone else that does not have Dementia or Alzheimer’s, do not default to a guaranteed issue plan.
The vast majority of people out there looking for burial insurance can and do qualify for a plan that has health questions. Guaranteed issue is not the best choice for most folks. What you need to do is work with a qualified advisor that can advise you about what your best option truly is.
To find the best burial insurance with Dementia or Alzheimer’s, or any health scenario for that matter, you need to work with an experienced independent broker that represents lots of insurance companies. Independent agencies like Choice Mutual have the freedom to run quotes from multiple providers in your state to see which one will give you the best deal.
Even if you choose not to work with us, just make sure you work with an independent agency that has lots of companies to choose from. If you do, you stand a very good chance of getting a good deal.
If you would like us to help you with your burial insurance needs, call us at 1-800-644-2926. We offer expert assistance with a hassle free no pressure process. If you would like us to call you, just fill out the quote form with your phone number, and we will be in touch shortly.