Burial Insurance With Neuropathy Reviewed
Condition Underwriting Highlights
NODLB.COM Difficulty RATING
If you are considering purchasing Burial Life Insurance With Neuropathy, you have landed in a good place. This review will briefly address the policy’s financial ratings and offerings, underwriting niches, pricing, and alternatives.
Sometimes, when you’ve had a blood sugar complication that’s been out of proper control for long periods, you may develop diabetic complications. A very common complication is termed neuropathy. This condition is related to nerve damage. Its common manifestations are pain or tingling in your legs, hands or feet.
Technically, this nerve damage may also extend to various other internal organs including your heart, bladder, bowels, stomach and various other body parts. However, most people only experience pain and numbing in their legs and feet.
People with diabetic neuropathy are bound to face adversities in their search for proper burial insurance. . The fact is that most insurance companies don’t react favorably to a neuropathy diagnosis. A few may even decline you outright.However, some insurance firms will accept your applications with a few strings attached.
Here’s The Deal About Neuropathy
You can qualify for an affordable "day 1" final expenses insurance policy with neuropathy. There is the legitimate possibility that you’ll not have to pay any additional premium for for the policy.
That's right, not only do you have high chances of securing burial policies at low costs, but it is also quite likely that your policy will have immediate coverage without any waiting periods.
Burial policies never need medical or physical exams to be conducted. Always remember that.
Insurer Responses On Being Informed Of Your Neuropathy Diagnosis
Ultimately, there are only a limited number of responses an insurance carrier will provide. the responses are as follows:
1. Outright Rejection of Your Policy
A few insurance carriers have no appetite for neuropathy risks. This is expressed by issuing an outright declination of your application.
2. Your Policy Will Come With Waiting Periods Attached To It
This is the most common response. Waiting periods are specified time periods during which any policy that you obtain won’t be paying out death benefits, should you die due to natural causes. Note that accident victims in this period will receive full death benefits without a hitch.
Most carriers offer policies with waiting periods of 2 years. Neuropathy-affected individuals may find insurance companies to be placing them in a high-risk category, resulting in waiting periods. These policies are also known as Graded or Modified plans.
3. Higher Premiums Will Have To Be Paid For Obtaining Coverage
There is nothing complicated about this potential response. The policy is issued with no waiting period , but has a higher associated premium. This response is common in the term insurance market, but less so in the final expense market.
4. You May Have To Pay Higher Premiums Along With Waiting Periods
This very common response to neuropathy risks combines the added cost with a waiting period for full benefits. Typically cost rise 20-50% and a 2/3 year graded waiting period must pass before the full benefit is available. This option very rarely makes sense.
if faced with a graded policy with an increased price, you are usually better off taking a guaranteed issue policy with AIG or Gerber.
5. They May Have No Problem With It
This is the best option available by far. It may seem unbelievable that some carriers will reject you outright and others won't ding you at all for a neuropathy risk-but it's true.
that's right- no waiting period, no inflated rate and no exam. It is possible. The key is knowing which carriers to send your application to. This requires the help of an independent agent with access to multiple carriers and experience with final expense underwriting guidelines.
The long and the short of it is that different burial carriers have different risk appetites and it pays to know which ones.
Which Medications Are Monitored By Burial Insurance Firms?
In addition to the questions you answer on the application, the carrier will pull up your prescription history. If you take medications for neuropathy but claim not to have it, you will be treated as though you do.
If you are using a drug "off label" meaning that it is treating something else- make sure you tell us that before the application is submitted.
Below are some of the drugs likely to raise red flags:
- Valproic Acid
Your Next Step
Thank you for choosing NODLB.com to research Burial Life Insurance With Neuropathy policies. Should you have any questions, please do not hesitate to call or send over an email.