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In This Article, I Will Explain Your Options For Final Expense Insurance Coverage With A History Of Asthma
Asthma is a multifaceted condition that can have different effects on your ability to qualify for final expense insurance coverage.
In this article, we’ll spend time defining what asthma is, including its levels of severity. Afterwards, based on severity, I will describe your options for final expense insurance coverage.
Here’s An Overview Of Today’s Topics:
- What Is Asthma?
- Asthma and Final Expense Insurance Options
- Related Health Issues That Cause Rate Ups With Asthma Applicants For Final Expense Insurance
- Burial Insurance Rates, Age 40 to 90*
- Get Coverage Today
What Is Asthma?
The Mayo Clinic defines asthma as condition in which your airways narrow, swell, and cause mucus excretion.
The symptoms include difficulty breathing, shortness of breath, and chronic coughing. Additionally, obesity, air pollutants, cold air, physical activity, and airborne substances like dust can stimulate your asthma to act up.
Asthma and Final Expense Insurance Options
Luckily, in most circumstances, asthma does not play a factor in qualifying for standard or preferred pricing on final expense insurance.
However, this is not always the case. Let’s make mention of specific occurrences where more severe cases of asthma will experience more difficulty in qualification.
Strong Doses Of Inhalers
When meeting clients face-to-face, my experience with asthma sufferers is that most only take albuterol sulfate, a generic inhaler designed to open the restricted lung airways.
However, there are times when I see other (or additional) inhaler prescriptions used to treat more severe cases of asthma.
For example, many asthma patients will take ventolin, Proair, Dulera, and Spiriva. With the exception of Spiriva, all alternative inhaler medications are typically easy to acquire preferred pricing on final expense insurance coverage.
However, Spiriva treats chronic obstructive pulmonary disease (COPD), not asthma. So, if you are prescribed Spiriva, it is likely your doctor is treating you for COPD, emphysema, or chronic bronchitis.
Nevertheless, the good news is that you may still qualify for final expense insurance coverage, even if your doctor prescribed Spiriva for the treatment of your asthma. The premiums are slightly higher, but in most cases, still provide first-day full coverage.
Asthma And Supplemental Oxygen
There are occurrences where patients have asthma so terribly that their physician prescribes supplemental oxygen to more easily absorb the air to reduce the symptoms of asthma.
Truth be told, you will experience more difficulty qualifying for preferred pricing for final expense insurance with supplemental oxygen usage. Regardless, you can still qualify for a guaranteed acceptance life insurance plan.
This is the common route I take with my clients who take oxygen for any reason. Final expense carriers are hardline on most oxygen use cases. And the only option is to apply for coverage with a guaranteed acceptance burial insurance plan that does not ask any health questions.
Exception: If you use a CPAP machine using only forced air, you may qualify for preferred rates for final expense insurance.
Case Study Examples
A client got in touch recently looking to get enough life insurance to cover her cremation. Based on local expenses and local averages it looked like the average cremation would run no more than $3,000-$5,000 depending on what kind of urn and service was provided.
This client shared with us that she was concerned about finding coverage that would fall within her budget, as she was on a fixed income and could only spend so much each month of life insurance.
The good news is we were able to find this woman quality coverage at a rate she could afford. She was very pleased with the option and decided to take us up on the offer.
While we can’t promise the same outcome for every individual, we do our best to shop a number of carriers to find our client’s final expense coverage they can afford.
Asthma and Cancer History
My client contacted me because she was worried about the ever-increasing cost of funerals and burials in her area. For people who had been around longer than 20 or 30 years, this increase could be as much as $2,000.
The same goes for cremation. What used to be inexpensive has now escalated by several thousand dollars, making it a costly expense.
This client had asthma and also had a history of cancer. She was concerned that both of these health conditions would have an effect on her application and that she might be denied.
Thankfully we have access to a number of providers that give us the opportunity to shop for the best price and coverage. We were able to find quality coverage for this client and get her coverage from day one.
Though we can’t promise the same outcome for every client, we do our best to find coverage that meets our client’s needs and budget.
Related Health Issues That Cause Rate Ups With Asthma Applicants For Final Expense Insurance
On its own, asthma without serious treatment is usually easy to qualify for preferred final expense insurance rates.
However, circumstances exist where asthma is not only exacerbated, but can have an effect on your ability to qualify for final expense insurance. Let’s cover these points now so you’re aware.
Commonly, overweightness or obesity exacerbates asthmatic symptoms.
Additionally, your height to weight ratio typically has a consideration in the final pricing of your final expense insurance application.
Luckily, most final expense carriers I deal with are flexible with height-weight considerations, even with a severe history of asthma. Call me at 888-626-0439 for more information.
Stories from the Field
Early on in my career I worked with two ladies who were sisters and shared their home with their older uncle. The uncle was not in the best of health a home , I happened across a small, rural area in Tennessee where I met a couple of ladies who were sisters who were housing an older gentleman who was their uncle. Both had life insurance and were quite happy with what they had, but they wanted to get some kind of life insurance coverage on the uncle. He had suffered from some health ailments, but nothing too serious and they felt it was important because they were financially obligated to take care of this individual. They didn’t want to end up going into the hole financially for a large $10,000 to $15,000 funeral and it was customary in the family to be buried, so cremation was not an option. Because they didn’t have much money on hand they knew a life insurance policy would be the perfect route to go.
I was able to qualify this gentleman for first day full coverage despite some of his health challenges. I got a note about 2 years later that he had passed away from natural causes. I was proud to say that because of the company I worked with at the time we were able to get half of the death benefit to the family within 24 hours to help pay for the funeral. They received the rest of the money over the next few weeks.
This is the kind of thing that helps life insurance agents really understand the power of coverage being in force when they have a valued client die and can watch the policy come to life and take care of understandable financial stresses and concerns in a way that no other kind of plan can do.
Smoking Or Second-Hand Smoke
If you smoke cigarettes, cigars, or a pipe, chances are using these nicotine-based products will further agitate your asthmatic issues.
In my experience, most final expense insurance carriers will not decline coverage based on nicotine or smoking, even with a history of asthma. Instead, as most do, the final expense carrier will rate you at a smoker rate to reflect the higher risk of insuring a smoker.
Burial Insurance Rates, Age 40 to 90*
Rates For $5,000 In Burial Insurance
Rates For $10,000 In Burial Insurance
Rates For $15,000 In Burial Insurance
Rates For $20,000 In Burial Insurance
Rates For $25,000 In Burial Insurance
*Burial insurance premiums are subject to underwriting, based on rates as of 8/20/2018, from state-regulated life insurance companies offering final expense burial whole life insurance protection. Understand that in order to potentially qualify, you must submit an application to see if you’re eligible. Rates are subject to change. Give Buy Life Insurance For Burial a call at 888-626-0439 now to see what program you may qualify for.
Get Coverage Today
If you or a loved one has asthma and wants quality final expense insurance protection, call me at 888-626-0439 today for a free, no obligation final expense burial insurance quote. Five minutes is all it takes to see what you qualify for.
Alternatively, you can send me a confidential message below or to the left, or use the chat feature you see at the bottom of the page to talk with me directly about your options.