For context, final expense insurance companies treat COPD, emphysema, and chronic bronchitis equally.

You can get final expense insurance without a waiting period when you have COPD.

However, a waiting period is inevitable if you have oxygen equipment to assist with breathing.

Learn what you can qualify for, the cost, how to avoid a waiting period, and the best companies.

 

How Does Burial Insurance Work?

Burial insurance is a no-exam required whole life insurance policy meant to cover your end-of-life expenses.

These plans are typically available to seniors 50-85 and up to $50,000 in coverage.

However, some carriers may offer more or less coverage and accept applicants younger than 50 and older than 85.

Tip:
Burial insurance can sometimes be referred to as final expense, end-of-life, or funeral insurance.

Since these plans are whole life insurance, the rates never increase, and the coverage lasts forever.

In addition, cash value will build up over time that you can borrow from.

Ultimately, the policy pays out cash directly to your beneficiaries.

There are no restrictions on how they spend the money. That means they can pay for funeral costs, medical bills, debts, or other bills.

Also, they get to keep any remaining money they don’t use for your final expenses.

 

Final Expense Insurance Options With COPD Or Emphysema

Some final expense policies have health questions, and some do not.

There are critical differences between each option that you must understand.

Plans with no health questions are guaranteed acceptance because you cannot be denied due to previous health issues.

Remember that all guaranteed issue final expense policies have a two-year waiting period.

If you die during the waiting period, the insurance company will refund your money plus interest.

On the flip side, plans with health questions can insure you immediately (no waiting period).

But getting no waiting period burial insurance is something you must qualify for.

You must apply with a company that asks health questions (no exam necessary) and subsequently be approved.

Fortunately, many companies will still approve someone for a no-waiting period policy when they have COPD (if no oxygen use).

Plans with health questions typically have different health ratings that you might qualify for.

Below is an outline of the various health ratings offered by companies and what they mean.

  • Level/preferred: This plan would be the least expensive option the company offers and will have no waiting period. Besides the tobacco question, you must be able to say no to all the health questions on an application to qualify for this rate classification.
  • Standard: This plan would have no waiting period, but it would cost more than a level/preferred plan. A standard rating will only be offered if you have specific health issues mentioned in an application.
  • Graded: This plan partially insures you during the first two years. Typically, it would pay 30%-40% of the death benefit during the first 12 months and 50%-70% during months 13-24. In addition to the partial coverage element, the cost will be higher than a level/preferred plan. Some companies will offer a graded program if you have specific health issues (usually chronic conditions) mentioned in an application.
  • Modified: This will always be the most expensive option that a carrier offers. Typically, a modified whole life plan is only offered when you have very dire health issues. In addition to the higher cost, it will always have a two-year waiting period. If you die during the waiting period, your beneficiaries will only get a refund of your premiums.

Below is a chart that outlines your senior burial insurance options with graves’ disease.

But remember that your precise age and state of residence may alter your options.

AgeLevel/PreferredStandardGradedModified
18-49NoYes
50-85
86-90

 

What If You Have Oxygen Equipment To Assist With Breathing?

If you have oxygen equipment (whether you use it or not), you cannot avoid a waiting period.

That’s true whether you have COPD or not, and it does not matter why the oxygen was prescribed (there are other reasons other than COPD).

With oxygen in your history, here’s what it would require to become eligible for a plan without a waiting period:

  • At least 12 months since you last used oxygen
  • More than 12 months since you had oxygen equipment in your possession

 

COPD Or Emphysema Underwriting For Burial Insurance Products

If you apply for a policy that includes a health questionnaire, COPD will always be mentioned.

Most companies will ask about COPD in the following ways:

  • Have you ever had, been diagnosed, or been treated for COPD, emphysema, or chronic bronchitis? (Most common)
  • Within the last two years, have you had, been diagnosed or treated for COPD, emphysema, or chronic bronchitis?

A yes answer to these questions will trigger one of the following responses (varies by company):

  • No waiting period, but a higher price
  • Full two-year waiting period and a higher price
  • Partial waiting period and a higher price.
  • Decline

In addition to the questions, the insurance company will also review your prescription history.

If a company sees the following medications in your history, they will likely assume you have COPD and thus respond accordingly:

  • Advair
  • Anoro Ellipta
  • Breo Ellipta
  • Combivent Respimat
  • Flovent
  • Incruse Ellipta
  • Spiriva
  • Symbicort

If you’ve been prescribed any of those medications or have asthma or COPD, it’s critically important that you work with an independent agency.

Only an independent agency like Choice Mutual can compare offers from multiple carriers to find which will give you the best deal based on your overall health.

 

Best COPD Burial Insurance Companies

Below are the best funeral insurance companies that will approve a COPD patient for a policy with no waiting period.

Which one is best likely depends on your age and other health issues.

Using this quoting tool, you can compare quotes from each of these companies.

 

Insurance CompanyCoverage & New
Applicant Age Limits
Policy Type, Length
& Product name
Aetna company logoCoverage:
$2,000-$50,000
Age Range:
40-89
Whole Life Insurance
Lasts forever once issued
"Accendo"- Standard
(no waiting period)
Transamerica company logoCoverage:
$1,000-$50,000
Age Range:
45-85
Whole Life Insurance
Lasts forever once issued
"Immediate Solution"- Standard
(no waiting period)
Foresters Financial company logoCoverage:
$5,000-$20,000
Age Range:
50-85
Whole Life Insurance
Lasts forever once issued
"PlanRight"- Standard
(no waiting period)
Liberty Bankers Life company logoCoverage:
$3,000-$40,000
Age Range:
50-80
Whole Life Insurance
Lasts forever once issued
"SIMPL"- Standard
(no waiting period)

 

How Much Does Burial Insurance With Emphysema Cost?

The monthly final expense rates shown below are ones you can qualify for with COPD.

However, remember that your exact age, gender, overall health, tobacco usage, and the coverage you want determine the net price.

 

AGEFemale $10,000
(Non-Tobacco)
Male $10,000
(Non-Tobacco)
Female $20,000
(Non-Tobacco)
Male$20,000
(Non-Tobacco)
45$26.59$32.29$49.57$60.97
50$27.67$34.66$51.74$65.70
55$34.12$42.37$64.64$81.13
60$39.42$51.11$75.23$98.61
65$49.35$66.43$95.08$129.24
70$69.68$101.90$135.74$200.19
75$93.74$135.00$183.87$266.39
80$135.32$190.34$267.03$377.08
85$202.25$280.60$400.88$557.59

 

How Choice Mutual Can Assist You

No matter what your health issues are, Choice Mutual can help you find the best final expense policy.

We are an independent agency that represents nearly 20 different insurance companies.

That’s especially helpful when you have high-risk conditions such as COPD.

Most companies will offer a two-year waiting period because of COPD. But we have many that will provide you with first-day coverage.

Ultimately, we objectively compare each provider to find the best deal for each client.

Working with us costs nothing, and our agents are always respectful.

Call us at 1-800-644-2926.