Burial Insurance After Angioplasty: How To Get Coverage

burial insurance angioplasty
Burial Insurance After Angioplasty: How To Get Coverage

Angioplasty is one of the most common procedures in the United States. That being said, it will likely affect your ability to qualify for life insurance.

Can I Get Burial Insurance After Angioplasty?

Qualifying for burial insurance after angioplasty surgery is possible. The insurance companies are going to look at how long it has been since the procedure was done. If it has been less than 12 months, you will encounter a waiting period before full coverage will begin. If the angioplasty surgery were more than two years ago, there would be no waiting period required.

About Burial & Final Expense Insurance

Burial, final expense, and funeral insurance are all the same type of life insurance intended for seniors to cover their funeral and other final expenses.

Whole life burial insurance never expires or fluctuates in price, making it a reliable option for seniors on a fixed income. Final expense insurance is very affordable because it comes in smaller death benefit amounts than traditional whole life insurance.

  • Affordable
  • No Medical Exam
  • Price Lock
  • Coverage Lock
  • Builds Cash Value
  • No Waiting Period Options
  • Guaranteed Acceptance Options

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Underwriting Funeral Insurance After Angioplasty

Underwriting is the process the insurance provider goes through when deciding if they are going to insure the applicant. This process is closely tied with the applicant’s current and previous health history. Each company sets its underwriting criteria based on its risk tolerance and price structure.

The healthier an applicant, the lower the monthly premiums will be. The more health concerns someone has, the higher the cost is likely to be.

Is Angioplasty a Pre-Existing Condition for Life Insurance?

All applications for immediate life insurance coverage will ask about angioplasty in one way or another. Some companies will specifically list angioplasty in the health questions, while others take a broader approach and ask about heart or circulatory surgeries and procedures. Angioplasty is considered a circulatory procedure; thus, it would fall into this category as a pre-existing condition.

Companies will also ask about when your angioplasty surgery was. They generally ask about the past 12 or 24 months; however, some look further into your medical history.

How Timeline of Angioplasty Procedure Effects Coverage

Under 12 Months: If it has been within a year since your angioplasty, you will encounter a waiting period. This is true with any provider you apply with.

12 – 24 Months: If you fall into this time category, some companies will enforce a waiting period, and others will issue immediate coverage. The key is to find a company with multiple policies that offer no waiting period and have different underwriting requirements. Companies like Foresters Financial, Transamerica, and Aetna/CVS.

Over 24 Months: Most final expense insurance plans look back two years for angioplasty. Therefore, if it has been over two years, you will be treated the same as someone who has never had this heart surgery.

Simplified Issue vs. Guaranteed Issue Life Insurance

Simplified Issue: There are a few sub-categories within simplified issue life insurance. Some policies have a waiting period, and some do not. However, all simplified issue coverage will ask medical questions to qualify.

Guaranteed Issue: This type of policy, also known as guaranteed acceptance, asks no medical questions and accepts everyone. There is no underwriting. However, there is a minimum 2-year waiting period regardless of the provider.

Associated Heart Complications that Effect Funeral Insurance

Often a stent is placed during the angioplasty procedure. This will not make a difference when applying for burial insurance. If you have any of the associated conditions below, these could affect qualifying for life insurance coverage.

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Best Companies For Final Expense Insurance After Angioplasty

There are three main things to consider before applying for life insurance with any particular provider.

Company’s Financial Strength: Life insurance providers get graded based on their financial strength. Only work with providers with a B+ or better rating to ensure they will be around well into the future to payout your policy to your beneficiary.

Coverage Start Date: Whenever possible, get a policy that begins immediately. Since this is not available to everyone who has had an angioplasty within 12 months, never wait more than two years for complete coverage to begin. Some policies make you wait 3 – 4 years, Do not get a policy that makes you wait this long.

Monthly Premiums: Once the above requirements are made, make sure you get the best deal by paying the lowest monthly premiums possible. Funeral insurance policies are very similar; it is underwriting and premiums that make the difference.

When was your angioplasty

Quotes for Life Insurance after Angioplasty

The prices listed before are quotes from real companies. The quotes are grouped by when your angioplasty procedure was. Consider your age at application and the timeline of your surgery to find the price estimate.

Female

$10,000 of Coverage

Age Under 1 Year 1 – 2 Years Over 2 Years
45 $46 $30 $23
50 $39 $37 $24
55 $47 $44 $28
60 $54 $51 $33
65 $66 $62 $41
70 $80 $77 $53
75 $116 $98 $72
80 $190 $140 $98
85 NA $220 $136

Male

$10,000 of Coverage

Age Under 1 Year 1 – 2 Years Over 2 Years
45 $55 $34 $27
50 $56 $41 $31
55 $61 $48 $36
60 $68 $62 $44
65 $91 $79 $56
70 $106 $104 $73
75 $150 $144 $100
80 $206 $203 $140
85 NA $312 $193

How to Buy Final Expense Insurance after Angioplasty

There are two main ways that people purchase life insurance. Through either a captive or independent agent. These agents both hold the same insurance license, but their access to policies is very different.

Captive Agent: Agents that work for captive agencies have access to that specific company’s policies only. Since underwriting and pricing vary significantly from one company to the next, this is not the best option for the consumer.

Independent Agent: Agents at independent agencies have access to a wide selection of insurance providers allowing them to price shop on behalf of the customer.

How Willamette Life Can Help You

Willamette Life is an independent life insurance agency specializing in senior final expense insurance. We have access to the best burial life insurance providers because this is our only focus.

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Final Thoughts On Life Insurance After Angioplasty

a. Getting affordable burial insurance after angioplasty surgery is possible.

b. The main thing that insurance companies will care about is when the procedure was. If it were under 12 months, you would have a waiting period. If it was over 24 months ago, you will have no issues and can qualify for immediate coverage.

c. Working with an agent who represents several insurance providers is the best way to get the best burial insurance options available to you.

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