Have you or a loved one had an organ transplant? If so, you may be wondering what options there are for life insurance coverage for yourself or your parents.
If so, you‘ve found the right article!
The Complete Guide To Getting Life Insurance For Organ Transplants Patients
This article is an educational guide to help you better understand what it takes to qualify for life insurance if you or a loved one has had an organ transplant.
Let’s get started!
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YES, YOU CAN! But due to your unique situation, it’s not as straightforward as some may think.
Let’s face it. You’ve had an organ transplant. That’s a pretty serious operation, requiring you take medication for the rest of your life.
You should expect some resistance when qualifying for life insurance or burial insurance coverage. In short, it’s tougher to secure coverage due to the severity of what you’ve experienced.
Why It’s Important To Get Life Insurance After an Organ Transplant
Look. Whether you’ve had an organ transplant or not, life insurance is essential. Knowing the potential risks associated with surgery of any kind should be reason enough to have quality coverage in place.
But, when it comes down to it, life insurance concerns are a permanent issue regardless of your situation.
What Do I Mean by “Life Insurance Concerns?”
I’m referring to large financial obligations such as your mortgage, credit card bills, and final expenses. You see, life insurance does a good job of taking care of major financial requirements.
And odds are you’ve got a six-figure plus mortgage, which if you die before paying off, will become your kids or spouse’s responsibility.
Do you owe money on loans or credit cards? What about funding your kids’ college expenses? Or your funeral expenses?
Answer these questions, and you’ll know deep down why life insurance is important.
Everyone has to face these challenging questions at some point. Regardless of your financial situation, I’m confident there is some kind of financial obligation that you care about sorting.
Most of us don’t have enough money saved up to cover these debts. And even if you did, why would you want to blow your savings all in one go?
In exchange for a low monthly premium, life insurance does a fantastic job covering daunting and expensive obligations.
Remember, when you leave, your life insurance policy gets to work. It ensures your family is financially stable at such an emotional time.
This next bit is a touchy subject, but you deserve to hear the truth.
On average, having an organ transplant limits your lifespan. I know it’s hard to hear, but we have to face the facts.
Why? Because there is no more time left to procrastinate. And this is true for EVERYONE! Sometimes we all need to remind ourselves that we will all die at some point. We just don’t know when.
Once you understand that you NEED life insurance, the next step is to figure out what kind of policy will suit you best.
What Kind of Insurance Transplant Recipients Can Qualify For?
These days doctors can perform liver, lung, kidney, pancreas, intestine, and even heart transplants. Impressive, right? But who can qualify for life insurance?
The quick answer? EVERYONE! As long as the applicant:
- Meets the medical requirements, and,
- Fits the age range for the life insurance product, they can qualify.
Plus, insurance companies are now more flexible than ever regarding transplant situations.
It actually comes down to whether we have a product available at your age level. But, more often than not, we do.
To tackle this section, I’d like to demonstrate how I determine the “best” life insurance company for my clients. First, the best life insurance company for organ transplant patients should consist of the following:
1. Will the policy cover you?
The best company is one that will cover you, REGARDLESS of your health history. Finding a policy to cover you is the most challenging aspect to accomplish beyond the age issue.
2. Is the policy affordable?
Many organ transplant patients are temporarily (even permanently) disabled and on a fixed income. If you don’t have significant savings, affordability is a HUGE concern.
3. Does your policy meet your life insurance goals?
Be absolutely SURE that your policy accomplishes your goals. If it doesn’t, then you could face huge problems later in life with your policy.
4. Is the insurance company reputable?
Most life insurance companies are reputable, have existed for decades, even centuries, and can be trusted. I say this because the life insurance policies for a transplant patient are all identical.
That’s why at Buy Life Insurance For Burial, we think your focus should be more about who will approve you at a good price.
Insurance Carriers That Cover Organ Transplant Patients
Do you ever get junk mail? If you’re over 50, chances are you’re getting junk mail weekly from a whole host of different life insurance companies. One you’ll see almost daily on TV is Colonial Penn.
Colonial Penn was founded in 1968 and is headquartered in Philadelphia, Pennsylvania. Most people know them by Alex Trebek from Jeopardy, who was the official endorser.
But the question is, how good is their life insurance coverage for transplant patients?
At Colonial Penn, the rates are much higher than what you can get through an independent agent like Buy Life Insurance For Burial.
Why is that? It’s because Colonial Penn doesn’t spend money on field agents. Instead, they invest millions every year on TV and mail advertisements and pay hefty fees to professional endorsers to extol the virtues of the product.
As you can guess, that costs a LOT of money. And the company recoups that investment through higher premiums than most competitors.
That’s why I usually DON’T recommend Colonial Penn. But, if you want to check out their rates for yourself, go to ColonialPenn.com.
MetLife Guaranteed Acceptance Life Insurance
Next on the list, we have MetLife Guaranteed Acceptance Life Insurance. They were founded in 1868 and are based out of New York City.
MetLife offers annuities, life insurance, long-term care insurance, indemnity products, and more. In my opinion, they’re a really good company.
However, the policy that organ transplant recipients can qualify for is very similar to Colonial Penn. It’s advertised on TV and via junk mail, which means it tends to skew higher premiums than other products.
Physicians Mutual Life Insurance
Physicians Mutual, founded in 1902, is headquartered out of Omaha, Nebraska. Just like MetLife, they offer a variety of products.
However, these guys are slightly more competitive on pricing for transplant patients. You can check quotes here at Physicians Mutual.
AIG Life Insurance Company
AIG used to be known as American General Life Insurance; they’re another reputable company with a successful history of helping everyday people secure life insurance. They were founded in 1919 and are also headquartered in New York City.
AIG is the carrier I look to for transplant patients looking for quality, affordable life insurance coverage. They offer brokers some of the best rates available on the market!
Just in case you didn’t know, a broker is an insurance agent representing multiple life insurance carriers.
I’m a broker, which means I can choose the company that will offer you the best deal in terms of quality, coverage, and value for money.
Generally speaking, AIG offers the most competitively priced rates for transplant patients (age being the only defining factor).
How Does Life Insurance for Organ Transplants Work?
You may be thinking, “How do these plans work?” Maybe you’ve called up a few insurance companies and been told, “There’s no way you’ll be approved!”
Here’s the catch. Due to the severe nature of an organ transplant, there’s only one option for life insurance coverage, and that is Guaranteed Acceptance Life Insurance.
Let me describe what that means.
Guaranteed acceptance life insurance are no-questions-asked insurance policies![/caption]
Pro #1 – No Questions About Your Health History
All you do is sign your name, and you’re approved! Guaranteed acceptance is SUPER important for transplant patients. Why? Because transplant patients are denied insurance by all companies that ask health questions.
At some point during the application, there will be a question like this:
“Have you ever had any kind of organ transplant?”
Of course, you would have to answer yes, which ends up declining you from coverage. But since guaranteed acceptance life insurance products don’t ask a single health question, you’ll qualify for coverage regardless. Nice!
Pro #2 – No Medical Exam
Simply sign off on an application over the phone or on the computer, and in a couple of days, it’s approved.
Pro #3 – Premiums Never Increase
Whole life insurance for organ transplants can NEVER cancel due to age or health!Plus, the premium is locked in place for the remainder of your life (as long as you keep up with the payments).
Why is this beneficial? Let’s say you have a kidney transplant. Shortly after, you take out a guaranteed life insurance plan with me.
Then a year later, you have a stroke. Does this change ANYTHING with your life insurance policy?
ABSOLUTELY NOT! Since you took this plan out before you had a stroke, nothing changes whatsoever.
Pro #4 – Quick Approval
You don’t have to wait weeks on end before receiving approval.
For instance, I helped an 84-year-old lady in Florida secure life insurance. She received her policy within one week of applying even though the life insurance company had to pull her medical records, including her prescription history. That’s fast!
Con #1 – No First-day Full Natural Death Coverage
At best, an organ transplant patient will not qualify for first-day full natural death coverage.
What does that mean? Well, the good news is that for accidental deaths, your policy will cover you fully from day one.
The bad news, however, is that death from natural causes is not fully covered for the first two years. If you die within this time frame, your beneficiary will only receive the premiums you paid plus any interest.
Now you might be thinking, “Two years, that’s a long time…”
Well, I’m not done yet! MANY guaranteed acceptance life insurance plans force a 3, sometimes even a 4-year waiting period before they cover natural death! That’s INSANE!
That’s why I work with carriers like AIG, where your coverage is guaranteed to come into effect after two years.
“This policy isn’t exactly what I was expecting. Shouldn’t I be covered immediately?”
I hear this a lot from folks with organ transplant history. And I totally understand where you’re coming from.
So let’s talk about why buying a guaranteed acceptance whole life policy make sense.
I only recommend no-questions-asked life insurance with a two-year wait when the client CANNOT qualify for anything else.
When we’ve exhausted every single possible option and know without a doubt that no other policy will accept you, then I advise my clients to take out a guaranteed acceptance life insurance policy.
And this is where the truth is hard to swallow – transplant patients will NEVER qualify for anything else…
Every first-day full coverage life insurance company I have ever worked with knocks out transplant recepients immediately (even if it’s been years since the surgery).
“Why should I bother then if I can’t qualify for first-day full cover?”
Please don’t ignore life insurance for this reason. Two years is not that long. Plus, you’re covered for accidental death from day one, which is honestly great.
Many transplant patients live long and healthy lives. Harvard Medical School says the average kidney from a live donor lasts 12 to 20 years. But that doesn’t stop a car accident or incident at work from messing everything up.
That’s why I think guaranteed issue life insurance (even with a two-year wait) is a worthwhile consideration. Try to see the bigger picture; debt, mortgage payments, final expenses – costs such as these don’t go away.
But with the right life insurance plan, in two years, you’ll have full coverage and never have to worry about your family’s finances when you pass.
What About Term Insurance?
People tend to think that whole life insurance is probably expensive. So, what about term insurance? Can you get term without any questions asked?”
Some organ transplant patients believe that term insurance is a better deal. This is DEFINITELY not the case, especially if you’re a transplant patient.
Life insurance is not JUST about price. It’s also about whether you can receive approval!
With term life insurance, the underwriting is even more rigorous than other life insurance plans. Plus, term insurance companies historically do not accept applicants with an organ transplant history.
Truly, the only option is a no-questions-asked whole life insurance plan.
Guaranteed Acceptance Life Insurance For Organ Transplants Quotes
Since AIG is my preferred life insurance company, let’s look at their rates for individuals between the ages of 50 and 85 (we’ll look at younger ages later).
First, whether you smoke or not doesn’t matter – the price below is good for smokers and non-smokers alike.
$5000 AIG Monthly Rate Chart
$10000 AIG Monthly Rate Chart
$15000 AIG Monthly Rate Chart
$20000 AIG Monthly Rate Chart
$25000 AIG Monthly Rate Chart
Not too shabby on the prices, huh? I’ve seen insurance carriers charging DOUBLE this for the SAME amount of coverage. That’s crazy!
How Much Life Insurance For Organ Transplants Can I Purchase?
If you want a small life insurance plan to cover a direct cremation for $1000 to $2000, we can do it. Alternatively, if you have a larger obligation to cover, you can get $100,000 in coverage or more.
“But I thought the limit for coverage was $25,000?”
Well, it is, but there’s a way you can get more!
The secret is to take out multiple guaranteed issue life insurance policies with another company such as gerber Life or Great Western..
Don’t worry. There’s no law saying you can’t take out more than one life insurance policy. I’ve done it several times for my clients.
How Old Must Organ Transplant Recipients Be To Qualify?
Good question. Age does need to be considered when qualifying for guaranteed acceptance life insurance for organ transplants.
Let’s have a look at the different age groups!
Ages 20 to 30 Years Old
Between the ages of 20 to 30 is the toughest range to qualify for. There are only a few companies that will write an organ transplant recipient.
And because this option is limited to certain states, you’ll have to speak with me to see what you may qualify for.
The best way to get in touch is to send a message or give me a call at 888-626-0439.
Ages 30 to 39 Years Old
Coverage at this age range is still TOUGH, but a little easier. A few carriers will offer a 2 or 3-year waiting period plan on a no-questions-asked basis.
Again, please give me a call to figure out what your options are.
Ages 40 to 49 Years Old
At age 40, you can breathe a sigh of relief! You now have access to affordable guaranteed acceptance life insurance policies in most states.
I work with one in particular out of Salt Lake City, Utah. They offer guaranteed acceptance life insurance if you’re at least 40 years old and offer up to $40,000 in coverage. Another carrier I also have access to *in certain cases* will cover up to $25,000.
Again, call 888-626-0439 for more details.
Ages 50 to 80 Years Old
Good news, there are numerous guaranteed life insurance coverage options available for organ transplant patients if you’re aged 50 to 80 years old!
My first choice is AIG. Premiums never go up. Coverage never cancels due to age or health. And you’re covered for accidental death from day one.
Ages 81 to 85 Years Old
Even at this age, you can qualify for guaranteed issue life insurance coverage.
The benefits of the plans are identical to what I’ve described above: rates never go up, coverage never cancels, and once you’re past the two years, natural death is in full effect.
Top 5 Reasons To Work With a Broker
1. Clients want better rates
Brokers, like our team at Buy Life Insurance for Burial, work with many life insurance companies, and we shop around to find the best policy for you. Often, this means that you secure better rates on policies because you choose from the best.
2. Clients want to be served
Having access to multiple carriers means that we don’t have the interest of one particular company in mind. Instead, we care more about our client’s needs and what’s best for them.
This just isn’t the case with agents that represent one life insurance company – captive agents. For them, their company comes first, not the client.
3. Clients want more coverage
Because we have access to so many different companies, it often means that we can get you the best-value coverage for your budget. Plus, working with Buy Life Insurance for Burial allows you more underwriting accessibility.
And, as we just mentioned, we shop around to see which company offers the best policy for you, maximizing your overall coverage.
4. Clients are tired of the bias
Bias will be present in any situation. But by working with a broker instead of a captive agent, you can significantly reduce the amount of “favoritism” you have to deal with.
A captive agent will push you in one direction just to make a sale. But at Buy Life Insurance For Burial, we take our time, look through all your options, and offer you the best deal to suit your needs.
5. Clients love having options
People love having a choice in their day-to-day lives, and they should have as much say in their life insurance coverage, too.
Working with a broker like us makes this possible.
The application process is incredibly simple. There are no examinations, no medicals, and no prodding, poking, or any of that stuff.
The first thing you need to do is pick an agent you’d like to work with, somebody you trust, somebody you like! With that said, I’d like to nominate myself 🙂
First, myself or a member of my team will help you figure out your goals and budget. Second, you’ll receive an electronic application via email. Once your application is processed, you’ll be approved for coverage within a day or two. Easy, right?
If you’re ready to discover your options for life or burial insurance, call me at 888-626-0439 now for your free life insurance quote!
Or click here to request a free quote. We will get back to you within the next 24 business hours!
My twin girls Emily and Eva, thank you for reading! And we genuinely hope you’ve gained valuable information on your search for life or burial insurance.