![Burial Insurance Pro 2024 & Funeral Insurance Plans [No Waiting Periods]](https://burialinsurancepro.org/wp-content/uploads/2017/01/burial-insurance-pro-logo.png){kind=logo}
Menu
How to Find Burial Insurance with Dementia or Alzheimer’s
By Matt Schmidt
By Anthony Goel
People with dementia or Alzheimer’s disease often feel that no insurance company will issue a new burial insurance policy or any type of life insurance to them. However, nothing could be further from the truth. For the uninitiated, dementia denotes a severe medical condition that reduces a person’s life expectancy significantly. For this reason, most insurers treat people with dementia as underwriting risks. Having said that, people afflicted by this condition can still obtain burial insurance and funeral insurance coverage.
Life insurance with Alzherimer’s or Dementia can be challenging. We have helped hundreds of families secure a final expense insurance policy for their loved ones who have Alzheimer’s or Dementia. Call us at 844-334-6143 and let one of our agents assist you and your family today. Many families are unsure how to start the burial insurance application process, so please let our staff guide you through this process.
Many of our clients are children, who need assistance in finding burial insuance for their parents. If this is your situation, please reach out and put our expertise to work.
Dementia refers to the gradual loss of brain function and behavioral abilities of a person. As such, it will significantly impede the person’s ability to perform activities of daily living. Not a part of the natural aging process, dementia can become more common as people age.
Dementia and related disorders can lead to premature death. Thus, it comes as no surprise that many insurers remain wary of insuring people afflicted by these conditions. For this reason, many insurers will not offer the full amount of the death benefit during the first two years of your new burial insurance policy.
Even though the options might seem limited, you will still be able to obtain burial insurance with these disorders. However, your new policy will inevitably feature a waiting period of two years and a significantly higher premium. To our knowledge, no life insurance or burial insurance provider will offer a policy that pays out an immediate death benefit. While this can be frustrating, you simply need to understand the insurance companies view people with dementia or Alzheimers as an extremely high risk.
If a company views you as a higher risk to their balance sheets, they will only offer guaranteed acceptance policies. This means anyone can be approved. But if death occurs in the first two years of the policy, only the premiums paid In plus 10% interest is paid to the beneficiary. After the first two policy years, at any point thereafter at the time of death, the full amount is paid to the beneficiary.
For many seniors in their eighties, a guaranteed issue life insurance policy may be their only option. If a person can qualify for a policy that pays an immediate death benefit, our staff will gladly relay this information to you. 
On the burial insurance application, insurers will usually ask health-related questions about dementia and your prescription history, such as:
Have you ever received a diagnosis, treatment, or advise recommending treatment for dementia or Alzheimer’s disease?
If you answer a ‘Yes’ to this question, many insurers will decline your application for life insurance. Many companies will simply decline seniors with pre-existing conditions. These insurance companies will view you as a high risk. However, some insurers could offer you a guaranteed final expense insurance policy that comes with a two-year waiting period and a relatively higher premium. In case you pass away within the waiting period, the insurers will refund all the premiums paid along with interest.
Burial insurance companies will also want to verify your health status. For this, they will conduct a medication history check by looking out for various dementia-specific medications. If your prescription contains any of the common dementia drugs e.g., Reminyl, Exelon, Cognex, etc., this will confirm that you have dementia. Besides, it will override your answer of ‘No’ to the question mentioned earlier.
Remember, you always want to be 100% honest on the application for burial insurance coverage. If you do not answer the questions about dementia or Alzheimers correctly, the background prescription drug review will show any medications being prescribed.
It can be worth mentioning that no life insurance company will offer immediate coverage for people with dementia. As such, securing a guaranteed issue burial or funeral insurance policy can be the best option for these individuals. People also refer to this as a no-questions-asked or a guarantee acceptance life insurance policy.
The application for this policy will not feature any medical or health questions. Thus, you will receive approval for coverage regardless of your medical condition. For this reason, this policy remains ideal for people with pre-existing high-risk health conditions such as dementia.
To qualify for getting a Guaranteed Issue life insurance policy, you will need to:
In some states, you will qualify for this policy even if you’re 25 years and above. Here at Burial Insurance Pro, we know of some companies that will offer you a policy between the ages of 25 to 85.
The only information you’ll provide on the application is the following:
Once an application is completed, an approval is generally made in 1-2 business days, and then a physical policy is mailed to you in about seven business days. This will be a very quick and easy application process. Generally, an application can be completed online, over the phone, or even using a paper application.
What Details Does a Guaranteed Issue Life Insurance Policy Feature?Guaranteed issue policy providers will not care for the mildness or severity of your cognition loss arising from dementia. They will underwrite your risk with no health-related questions asked. They will also not require your medical records, prescription history, or phone interviews. These insurers will not conduct a medical exam either.
A guaranteed life insurance policy will effectively be a whole life policy. Thus, it will remain graded during the first two years for natural death. Most companies offer these policies with waiting periods ranging from two to three years.
No death benefits will be payable should the insured pass away during the waiting period. As mentioned earlier, if the insured passes away during the waiting period, the beneficiary will receive the sum of all the premiums paid along with interest.
After the waiting period has elapsed, the policy will pay the entire death benefit regardless of the cause of death. These policies also pay 100 percent of the death benefit from day one should the insured die from an accident.
Why Purchasing a Guaranteed Issue Policy for Dementia Can Be Worthwhile
Purchasing a guaranteed issue policy can be beneficial because:
It can be worth highlighting that dementia or Alzheimers will not cause death. But it will significantly increase the chance of premature death. Medication can slow the progression of the disease. However, it won’t be able to provide a complete cure. Hence, people diagnosed with Alzheimer’s will often live for eight to 10 years after the first diagnosis.
We know that nobody want’s to leave behind a ‘bill’ to cover their funeral costs and final expenses. Having a burial insurance policy in place will provide peace of mind to you and your loved ones.
Obtaining life insurance with dementia can be a smart financial move. But you’ll need to secure this coverage as early as possible because of the waiting period the policy prescribes. The sooner you obtain coverage and work through the waiting period, the sooner you will receive comprehensive levels of cover. Moreover, because insurance companies base your monthly premiums on your current age, applying now, as opposed to some months down the line, could help you save money too.
With a guaranteed issue life insurance policy, you can rest assured that in as little as two years, your beneficiary will receive the entire death benefit. Passing away also leaves behind other expenses such as:
A guaranteed issue life policy can help your loved ones meet these expenses. However, it can be worth highlighting that coverage requirements and policy limitations can vary from one insurer to the other. So, you’ll need to understand the terms specified in the policy document thoroughly at the time of purchase.
The Two Things to Consider When Shopping for a New Burial Insurance Policy with DementiaIf you’re looking for a new burial insurance policy, ensure that you focus on two aspects:
Opt for a guaranteed issue burial plan that comes with a two-year waiting period and costs the least. If you find insurers only willing to give you a policy with a three-year waiting period, take it if that’s your only option. Reputed insurers like Gerber Life, Great Western Life Insurance Company, and Mutual of Omaha Life Insurance Company offer guaranteed issue policies with coverage amounts ranging from $2,000 to $25,000 for people between 45 to 85 years of age.
Other companies will offer coverage, but their pricing of this product is simply not competitive. If all things are equal, why would anyone want to pay 25% to 50% more for a guaranteed acceptance policy? Companies that are just not competitive with these policies include Lincoln Heritage, AARP, and Colonial Penn.
It can be worth mentioning that guaranteed issue burial insurance policies can be best for people with dementia or Alzheimer’s. People who do not have dementia can qualify for regular policies that feature the standard health-related questions.
To secure the coverage you need, consider working with a qualified advisor or an experienced independent broker or agency. These professionals will usually represent a number of insurance companies. Consequently, they will be able to give you exactly what you’re looking for. Here at Burial Insurance Pro, we love working with families and helping them with their burial insurance needs.
In order to begin obtaining information, please fill out a quote request from us. Or call us at 844-334-6143 and let a friendly agent assist. Final expense insurance is one of the most important purchases a person can make. Don’t choose the wrong, or more expensive company because they mailed you something in the mail. Actually, disregard any company that mails to seniors. They are simply not going to be the best option for you.