The insurance industry is the most open marketplace in the business world. You’re able to get policies for all kinds of coverage in these are intended to reduce your financial risk. Some consumers want to have specific life insurance but are worried about being denied because they have a medical condition. Never assume that no insurance company will cover your risk. Anyone can get burial insurance for the kidney disease that they have.
Let’s remember that burial insurance is guaranteed life insurance. The policy is intended to cover the funeral expenses of an individual. It is essential because the cost of the burial or cremation is going to be borne by the deceased’s beneficiaries. The final payment can be thousands of dollars, and that eats into a person’s estate. Burial insurance prevents the cost from becoming a loss to those who are counting on the estate’s distribution.
Burial Insurance & Kidney Disease
Insurance companies will consider two types of kidney disease when it comes to a burial insurance policy.
- Acute Kidney Injury
This is an unexpected injury to the kidneys that results in decreased renal function. Although the damage could be corrected, it may progress to chronic kidney disease.
- Chronic Kidney Disease
Chronic Kidney Disease is a slow reduction of kidney function, which lasts over a while, and may lead to permanent kidney failure. End-stage kidney disease is the final point. It means that the kidneys have failed, and you would need either a kidney transplant or kidney dialysis to remain alive.
This all sounds depressing, but don’t despair. You can get burial insurance for any kidney disease. Being on dialysis does not mean that a person is ineligible for an insurance policy. You should understand, though, there will be specific requirements to get the full amount of the policy.
Keep in Mind the Waiting Period
Insurance companies will insist on a waiting period of up to 24 months to receive the full benefit. It means that the patient must be alive and paying a premium during the first 24 months of owning the policy. Should that person die before the 24 months is up, the insurance company will ordinarily refund all the premiums, including interest.
You Are in Control
The premium that you will pay is influenced by the degree of risk you present to the insurance company. The higher the risk, meaning the chances the insurance company will have to pay on the policy in a few months, the higher the premium is going to be. You are in control of that risk, believe it or not.
It is what you do to minimize the risk. If you can demonstrate that you are under doctor’s care and are following the doctor’s advice, the insurance company will consider you a better chance. The medication that you take can also influence your level of risk. Unfortunately, the insurance company will also look at family history to find out if there is a hereditary disposition to kidney disease. However, if there is no history of chronic kidney disease or failure, it means you are less of a risk. A non-smoker is considered a better risk than a smoker.
Some Cautionary Notes
When you look at burial insurance for kidney disease, you want to avoid any policy that has a three-year waiting period. You also should be careful about a policy that terminates after you reach 80 years of age. Guaranteed life insurance policy is a whole life insurance instrument that is intended to last a lifetime. That policy should be in effect even if you should pass away at 86, provided you promptly pay the premiums.
Make sure that you check out the premium schedule for the insurance policy. Some policies have premium increases every few years. You’re looking for a guaranteed issue burial insurance policy that has a fixed premium for the duration of the policy.
Empathy Is Important when Dealing with Anyone Suffering from Kidney Disease
Applying for burial insurance is a recognition of mortality, and many people get nervous about it. We understand and wish to assure you that all the questions you have will be answered patiently and with respect. We insist that anyone seeking a policy with us is well treated. If you aren’t shown the courtesy you expect, contact us immediately!
If you have any questions about the burial insurance policy we offer, please feel free to contact us. We will gladly answer all your questions.
Gary P. Cubeta
(Serving Americans In All 50 States)