For many who have Parkinson’s disease, it can be overwhelming to think about the costs that your loved ones will deal with once you have passed away. Many people with any pre-existing condition may feel that they can’t get affordable funeral insurance. However, this is truly not the case. It just may take a bit more research and an understanding of all the different types of insurance policies out there to find the one that will work or you. Don’t get discouraged, as it is possible to find low-cost burial insurance for Parkinson’s Disease patients.
What Is Burial Insurance?
First of all, let’s cover what burial insurance is. Often referred to as funeral insurance or end of life insurance, these types of policies are just a part of a whole life insurance policy, just for a smaller amount. A whole life insurance policy comes in various forms. Some types require underwriting and a medical exam, but those are often cheaper and can be more difficult for patients with a pre-existing condition, like Parkinson’s Disease, to get.
Another type of end of life insurance is not underwritten and can be of a higher cost. The patient may not have to submit to any health questions or exams, but will most likely pay more money out of pocket for premiums. This type often has a waiting period before payout as well.
What purpose does this insurance serve? Burial insurance is used by the beneficiaries of the policy to cover the costs of all the expenses related to the death of their loved one. People will incur expenses that they do not plan for, but which can be costly. These associated costs include:
- Funeral services – these services aren’t free, and for many, they aren’t cheap either. A funeral will often have the cost to the funeral home, and food or refreshments, multimedia expenses, and more.
- Burials – If you are buried, there will be not only the cost of a casket but also a grave. Both can be quite pricey depending on the type that you get.
- Cremation – While cremation is usually cheaper than a burial, it still comes with some costs. These include the cremation process, an urn or box to hold the ashes in, and more.
All of these costs can be quite a burden on a grieving family, and they can genuinely add up. That is why Low-Cost Burial Insurance for Parkinson’s Disease patients is so critical, especially today, as the cost of everything seems to be rising at a skyrocketing rate.
What Kind of Burial Insurance Can a Parkinson’s Disease Patient Get?
It really depends on the company that you end up selecting and what their policies are as far as Parkinson’s as a pre-existing condition. Some patients will find that various insurance companies will not accept them for underwritten funeral insurance when they have this condition. This type of insurance requires that patients go through a medical exam and medical questionnaire. Many times, patients with Parkinson’s Disease will be denied for this sort of coverage. The reason that it is a desirable type of coverage, and indeed a low-cost burial insurance for Parkinson’s Disease, because the premiums are lower, and the payouts are guaranteed.
If you have been denied for this type of burial insurance because you have Parkinson’s, another option for you would then be to get a not-guaranteed or not underwritten policy. The way these policies work is that there is typically a waiting period after the patient has signed up for the policy that if they should pass away during, they will not get the full payout amount. This means that they are not guaranteed money. However, their family is usually given back what was spent on premiums, so it is not a total loss, and there will be some benefit to this type of funeral insurance.
Another negative factor that comes along with burial insurance that is not guaranteed is that the premiums are often higher with this type of insurance. Patients may even end up paying between 15-50% more monthly than those who do not have Parkinson’s Disease.
How to Find the Best Rates for Burial Insurance
If finding the best low-cost burial insurance for Parkinson’s Disease patients is your goal, you’re going to have to do some research and shopping around. Not all insurance companies are created equal, and not all of their policies are either. If you are looking for affordable funeral insurance, compare various premiums to determine what will work for you. Ask upfront if a disease like Parkinson’s will disqualify you for underwritten insurance. In some cases, it won’t have any bearing on whether you get accepted, and you might find that you can find affordable burial insurance regardless of having Parkinson’s Disease.
However, you may find that some companies will not accept you for underwritten insurance. In these cases, total up how much the cost of the premiums are and how much the payout is for policies that are not guaranteed. Compare and contrast with what you’ve found in other places before you decided which plan is best for you. Make sure you do lots of research and pay close attention to payout amounts and if there are waiting periods involved.
Once you’ve applied for low-cost burial insurance for Parkinson’s Disease patients, you’ll find that you have peace of mind that your family will be covered and have plenty of means to pay for all of your end of life expenses. It’s hard enough to be grieving the loss of a loved one, but having to worry about added costs and how to cover them makes it even worse. Make sure you take the time to find funeral insurance that is affordable and will cover you, regardless of any conditions you may have. Get a Quote for Burial Insurance with Parkinson’s Disease Today!
Gary P. Cubeta
(Serving Americans In All 50 States)