Looking at protecting your family from burial expenses but struggling to find the right policy? Final expense insurance with COPD and immediate, full coverage can be a bit harder to find. We have all the answers here. Everyday we receive phone calls from someone with this respiratory disease or another looking for final expense life insurance.
Now with that said, we are going to be exclusively talking about whole life insurance. We do not recommend any other type of policy for final expense insurance when diagnosed with Chronic Obstructive Pulmonary Disease and planning for end of life expenses. Further, whole life is just easier to qualify for, period.
No Exam Whole Life Insurance With COPD
COPD, being a permanent medical conditions will hamper you from obtaining a no waiting period policy from the greater majority life insurance carriers. The good news is, working with the right broker and advisor, you can still obtain a very reasonable rate on a premium whole life insurance policy. With whole life insurance, your premium never goes up and the benefits never go down either. This is very important as you age knowing the guarantee your loved ones are protected by.
The key to whole life insurance is… locking down your rate (premium cost). This is going to be very important especially for someone on a fixed income. The younger you are at application, the lower your cost. This is true even with a COPD diagnosis.
Would you like the option to obtain a final expense insurance policy and have no doctors, needles or nurses involved?
No exam whole life insurance is going to allow you to avoid all that. Now, that does not mean there are no health questions persae but it does mean that it is much easier to get an instant decision on whether a particular insurance company will offer you a desirable policy or not and what you will be paying at the same time.
With said, some applications for COPD final expense life insurance have no health questions. These are called Guaranteed Issue or Guaranteed Acceptance whole life insurance policies. They are issued by companies like Colonial Penn and AARP New York Life and not very competitive compared to the competition offering the same thing.
Are these best for someone who has a respiratory disease?
No.
This sub type of final expense insurance with COPD should be your last resort. While there is a time and place for this type of whole life insurance we do not advise it as there are usually better alternatives and most often, a lower cost. Guaranteed acceptance whole life policies do not offer full, 1st day protection for your family and are more expensive than policies with health history questions. Keep in mind, you should have a very experienced independent broker/agent assess this with you. Don’t prejudge yourself. Having COPD does not preclude someone from getting a competitively priced policy with immediate full coverage.
Why is this?
Insurance companies are all different in how they evaluate consumers. Many insurance companies offer what we call a “niche.” This just means they have more relaxed rules for certain medical conditions than others. We can help you clarify what is best for you and your family.
Top Life Insurance Companies for COPD
The following companies, in alphabetic order are a typically the recommended carriers for people with COPD, depending mainly upon treatment, age and any other health conditions.
One of the oldest insurers we work with, Royal Neighbors of America, is a fraternal benefit society. First day, full lifetime coverage is very possible with COPD provided your not using oxygen. RNA Offers some additional things not found with other insurance carriers. If approved you would have a member “certificate.” Members gain some additional benefits. A legal department that helps prepare Wills or discounts on shopping at over 4000 different retailers. Members also get discounts on dental, vision, hearing aids and the like. Combine these bonus features with good customer service and great rates for someone looking for COPD life insurance…this makes RNA a good choice.
Relatively unknown, SBLI has been providing life insurance since 1907. An insurance company with an excellent financial rating, Savings Bank Life Insurance of MA has been offering no nonsense life insurance products thru its controlled network of independent agents. In recent years, they also entered the final expense market. SBLI has approved many people for their final expense whole life insurance even having COPD. Also included with the coverage, Sequoia Funeral Concierge who will assist your beneficiary and negotiate on behalf on the family with the funeral home. SBLI has been providing arguably one of the best values in terms of price, benefits and customer service available for end of life planning.
One of the largest and best known of these 3 carriers, Transamerica often offers more affordable rates to someone with COPD than other insurance companies. This individual applicant would probably not have any other serious conditions or recent hospitalizations. We’ve had may clients even offered the preferred rates with COPD which no other insurer will do with such a diagnosis. Transamerica can be quite forgiving of prescription medications. Many other competing life insurers will not accept numerous prescription meds for the lung disease. Transamerica also offers Everest Funeral Concierge, a great addition to their “Express Solutions” whole life policies.
We are going to keep one of our other key carriers close to the belt. They do offer a great final expense insurance policy with COPD. Unfortunately, they are not available in several states across the country. This carrier is not listed in the instant quoting system we use to provide you the instant quotes on this page. You may give us a call to discuss this company to see if it is the best option for you.
Final Expense Insurance Quotation for Someone With COPD
The companies listed in the COPD instant quoting tool on this page do offer immediate full coverage for people diagnosed with the disease. Other companies not listed do not publish their rates for their own business reasons. Again, you should be speaking to an experienced advisor before buying any life insurance especially with a complicated health history. Getting a good final expense insurance quote while having COPD is going to come down to the independent agent/advisor you are working with know their “stuff.” Give us a call, we will work with you to see which company is going to offer you the best policy for your money. Application is simple and fast. It doesn’t cost you a penny more to have help getting the best your money will buy.
COPD Life Insurance With No Exam Wrap Up
No one likes to think about life insurance let alone buy it. If it is any consolation as you read this, I can say that whole life insurance will pay your family when your day comes, provided you do your part upfront. Your rates never go up and benefits never go down.
When you have a medical condition like COPD, it is considerably harder to find a good policy to protect or leave something behind for your loved ones. A legacy so to speak. This is why you want to make sure you are working with a seasoned life insurance professional who has access to the top carriers. Trying to push COPD thru Mutual of Omaha would not get you a very good offer though, they are an excellent final expense insurance company. Obtaining 1st day full coverage final expense life insurance with COPD does not require an exam but their will be some health history questions.
Are their a lot of life insurance companies that will cover my condition day in full from day 1?
No,
Chronic Obstructive Pulmonary Disease is permanent and does raise the risk to any insurer. Finding the best life insurance with a pre-existing medical condition do affect your rates. Their is no way around this. You’re best bet will have medical questions as part of the application process. This will be something you ideally want. No health question insurance does not offer full coverage the first 2 years and can be significantly more expensive, No health questions is pure high risk life insurance. The 3 insurance companies mentioned above will make an instant decision based on your application and electronic records so you don’t have to wait 6 weeks to get an answer. Coverage can start right away so you know your loved ones are well taken care of.
So, if you’re serious about taking care of those you care about and need life insurance, there is never a better time to see what you might qualify for and how affordable coverage may be for you.
Hope this article has helped you make a good decision for yourself and your family. Let us know how we can help you further with final expense life insurance with COPD. Phone 269-230-3464
Special Risk Life is a veteran independent life insurance agency that specializes in guiding people with even the toughest health conditions thru the life insurance process. We are very passionate about helping people get the financial protection they want while delivering affordable coverage people can absolutely count on.
