Have you ever called an insurance company and asked to get burial insurance, and they’ve literally said “NO” and hung up? For a large portion of the population who already have a medical condition, this actually has happened. In this article, we will discuss the relationship between getting Burial Insurance for those you are on Home Health Care.
Insurance companies often have red flags set on certain conditions or life circumstances, and if you have them, you are pretty much out of luck. For many who are currently using home health care, this is the case. But, it doesn’t have to be! You just have to do your research to find an insurance company that offers final expense insurance for home health care patients. It can take a little more legwork and a little more finessing than for someone who has no preexisting conditions, but it can be done. First off, you need to arm yourself with the knowledge necessary to get the more affordable end of life insurance possible when you are on home health care.
What is Burial Insurance?
Before we run down the details of getting this type of insurance, let’s first look at what it is exactly. Often called burial insurance or end of life insurance, final expense insurance is simply a type of whole life insurance that is used for expenses for a person’s funeral and burial or cremation. Beneficiaries are to use the money to cover the cost of these end of life needs.
Is it Necessary to Have Final Expense insurance?
It really just depends. Sometimes, people will designate that their beneficiaries use their standard life insurance for this type of expense. But some people really want their loved ones to be able to get the whole amount of their regular life insurance, so they will purchase a smaller type of whole life insurance to serve as their burial or end of life insurance. Then, loved ones can use that policy to cover such expenses as:
- Memorial services, complete with refreshments and a venue to hold the service
- Funeral services, complete with car services to a burial site
- Coffins and burial fees, to cover the cost of labor to dig the plot and maintenance, as well as the actual plot of land
- Cremations, to cover the cost of cremation and any urn or box to hold the ashes in
So, for many, final expense insurance is an absolute necessity. Leaving their loved ones to cover the costs of their burial and other expenses is just not an option, and they want to ensure there is plenty of money set aside to cover these necessities.
How Can I get Affordable Burial Insurance When I’m on Home Health Care?
Now that we’ve covered what burial insurance is, it’s time to look at how you can get it affordably, if you can get it at all. As we mentioned at the beginning of this article, there are instances where insurance companies might flag your application because you are on home health care. Obviously, those aren’t the companies for you. But how can you get this necessary insurance?
Guaranteed Life Insurance
In most cases, the type of life insurance for burial expenses that requires no waiting period is often ruled out for patients who are on home health care. Many companies shy away from accepting patients who are using home health care for their day to day well-being, because they are a much higher risk than other patients. The chances of one of these patients passing away soon are much higher than someone who has no other health conditions. Therefore, many patients will not be approved for final expense insurance with no waiting period.
If you are not approved for this type of burial insurance, don’t worry. There is still guaranteed life insurance available from reputable companies in the industry. These companies offer guaranteed life insurance with a waiting period. Typically, the period of time that one must wait is around 24 months. After the time period is up, then the patient will be approved for the final expense insurance that they have applied for.
Depending on the life insurance company you have applied with, premiums can vary widely from person to person, especially for those on home health care. Make sure that you are doing your research, and contacting reputable insurance companies to find the best rate to meet your needs. It can be time consuming, but is well worth it if you need final expense health insurance on home health care.
Burial Insurance Premiums for Those in Home Health Care May be Higher
If you are on home health care and are shopping around for burial insurance, it is important to remember that you may have to pay higher premiums for your insurance than others who do not have any conditions will pay. This ensures that you can lock in the amount of burial insurance that your loved ones will need to honor your end of life needs, as well as possibly have some left over so that they can have some peace of mind as they grieve.
It is important to remember that while there may be more hoops with final expense insurance when you are on home health care, it is well worth the cost in order to keep your loved ones from paying massive amounts of money out of pocket for your funeral and burial expenses.
If you need final expense insurance, start now by researching the top companies available for your needs. Know that you may end up paying higher premiums, and be aware that there may be up to a 24-month waiting period in order to get guaranteed life insurance for final expenses on home health care. Home health care does not have to be a deterrent for the insurance that you need. Simply find a respected company who will work with you, and look at you as more than just a patient, but as a real person with the need to protect their loved ones after they have passed away. Get the protection you need at the most affordable rates possible online today.
Gary P. Cubeta
(Serving Americans In All 50 States)