The Top 4 Companies for Final Expense Insurance with Asthma

final expense insurance with asthma
The Top 4 Companies for Final Expense Insurance with Asthma

If you have been newly diagnosed with asthma or have been living with it for some time now it can affect the activities that you do on a daily basis.

Whether your condition is mild, moderate, or severe, something that you will eventually have to take into consideration is if and how it will affect your ability to qualify for coverage.

This is probably what brought you to this page!

The average cost of a basic service, no matter how you choose to be celebrated and mourned, is between $8,000 – $12,000. For those you love, this can bring unexpected financial hardship in a time of grief.

Final Expense Insurance with Asthma

Is Final Expense Insurance with Asthma possible to get?

YES! There are several top final expense life insurance companies that will provide immediate coverage at low rates to those with this condition.

asthma airway animation normal versus attack

Why It Matters

Your overall health status is of great importance to the companies providing this coverage as they will have an interest in your wellbeing upon acceptance.

While asthma is relatively common and can be easy to control (compared to other diagnoses) it still raises the risk of additional concerns.

Complications can include:

  • Increased ER visits
  • Lingering cough
  • Depression
  • Missing work
  • Lack of physical activity
  • Diabetes
  • High blood pressure
  • Weight gain

While these are not guaranteed to happen they are of interest to the companies that are insuring many people with this condition.

We have good news though!

There are plenty of companies that will accept people with this diagnosis without question. This means that you will be getting the same coverage as someone who doesn’t have this diagnosis.

elderly man in park having asthma attack

Underwriting

Underwriting is the decision-making process an application goes through to determine whether a person will be accepted.

The guidelines for acceptance are predetermined by each carrier so they are essentially just seeing if you meet the criteria.

It is important to understand that since each company sets its own guidelines, there will be certain health conditions that one company will accept that another will not. This is as true with asthma as it is for COPD.

On the application for coverage, you will be asked a series of “YES” or “NO” health questions.

By answering “NO” to all the questions you will be eligible for the best coverage available from the company.

So, the goal is to find a company that does not specifically ask about this condition so you are able to qualify for a top-tier plan with the lowest cost.

Fortunately for you, we have compiled a list of these companies starting with the least expensive.

Top Companies

The companies listed below are recommendations for people with asthma only. If you have an additional health concern please mention this to your agent as each health concern will bring on its own eligibility concerns and potential restrictions.

Foresters FinancialForesters Financial Logo black and white

This company offers the lowest rates and does not ask about this diagnosis on the application.

This means that they will accept asthmatics with no waiting period and at their lowest rates.

There are 3 plans offered by Foresters Financial.

Preferred (level) – No waiting period & lowest prices

Standard (level) – No waiting period & slightly higher prices

Basic (modified) – 2-year waiting period & high prices

During this 2-year waiting period if the insured passes away the beneficiary will get the paid premiums plus 10%.

With this condition, you will be able to receive the Preferred plan.

Below in bold is the premium you will be able to receive.

To learn more about what health concerns are accepted by Foresters Financial read our full review in the “blog” section under the main menu.

Quotes:

Male

$10,000 of Coverage

Non-Tobacco Monthly Premiums

Age Preferred Standard Basic
45 NA NA NA
50 $32 $45 $47
55 $37 $59 $60
60 $45 $74 $74
65 $56 $93 $95
70 $73 $112 $118
75 $103 $161 $171
80 $147 $216 $259
85 $201 $308 NA
Female

$10,000 of Coverage

Non-Tobacco Monthly Premiums

Age Preferred Standard Basic
45 NA NA NA
50 $26 $37 $37
55 $31 $43 $44
60 $34 $50 $52
65 $43 $65 $66
70 $53 $83 $86
75 $75 $120 $132
80 $111 $167 $192
85 $166 $253 NA

Royal Neighbors of AmericaRoyal Neighbors Logo black and white

This is another fabulous company that will accept asthmatics with immediate coverage.

The health restrictions with Royal Neighbors is more lenient than with the other companies listed here. So, if you have received an additional diagnosis this plan could be perfect for you while still getting a great low price.

There are 2 plans offered by Royal Neighbors of America.

Level – No waiting period & lowest prices

Graded – 2-year waiting period & slighting higher prices

During this waiting period if the insured passes away the beneficiary will receive the following payout structure.

  • Death in year 1 – 30% of policy amount
  • Death in year 2 – 70% of policy amount
  • Death in year 3 or later – 100% of policy amount

With this health concern, you do not need to worry about this payout structure because you will be accepted to get Level coverage.

To see the full list of qualifying health questions you can read our review found on the “blog” page under the main menu.

Quotes:

Male

$10,000 of Coverage

Non-Tobacco Monthly Premiums

Age Level Graded
45 NA NA
50 $40 $58
55 $46 $65
60 $50 $69
65 $59 $86
70 $75 $117
75 $110 $169
80 NA NA
85 NA NA
Female

$10,000 of Coverage

Non-Tobacco Monthly Premiums

Age Level Graded
45 NA NA
50 $34 $46
55 $38 $51
60 $38 $52
65 $45 $63
70 $56 $84
75 $80 $123
80 NA NA
85 NA NA

TransamericaTransamerica black and white logo

Transamerica is a well-respected company in this industry. People with this chronic condition are eligible for the Standard plan with Transamerica.

There are 3 plans offered by this company.

Preferred (level) – No waiting period & lowest prices

Standard (level) – No waiting period & slightly higher prices

Easy Solution (modified)- 2-year waiting period & high prices

During this 2-year waiting period if the insured passes away the beneficiary will get the paid premiums plus 10%.

Chronic asthma is defined by Transamerica as “using inhalers year round on a daily or weekly basis, or filling inhalers 6 or more times in any 12 month period”

If you do not fit this description you could be eligible for Preferred coverage rather than Standard.

Either way you will be able to obtain immediate coverage with this company the only difference really is the monthly cost.

To learn more about this company a full review is available in the “blog” section under the main menu.

Quotes:

Male

$10,000 of Coverage

Non-Tobacco Monthly Premiums

Age Preferred Standard Easy Solution
45 $29 $33 $96
50 $32 $38 $83
55 $36 $48 $117
60 $44 $60 $136
65 $57 $80 $174
70 $75 $106 $213
75 $101 $140 $274
80 $142 $198 $376
85 $223 $299 NA
Female

$10,000 of Coverage

Non-Tobacco Monthly Premiums

Age Preferred Standard Easy Solution
45 $24 $28 $72
50 $26 $31 $80
55 $30 $38 $92
60 $34 $44 $106
65 $42 $55 $130
70 $55 $72 $160
75 $74 $97 $199
80 $105 $141 $266
85 $165 $211 NA

AetnaAetna Logo black and white

Aetna is a part of the CVS family of companies. The Standard plan is available to those who have ever been diagnosed or treated for a chronic respiratory condition.

There are 3 plans offered by Aetna.

Preferred (level) – No waiting period & lowest prices

Standard (level) – No waiting period & slightly higher prices

Modified – 2-year waiting period & high prices

During this 2-year waiting period if the insured passes away the beneficiary will get the paid premiums plus 10%.

This plan provides rates that are competitive with Transamerica’s Standard plan. The lowest price is dependent upon the age at application.

We have placed these policy quotes side-by-side below for you to see where you fall. However, if this is your only health concern, Foresters Financial will provide the lowest rates no matter what your age. As you can see, the premium in bold is the lower rate.

To read more about Aetna visit the “blog” section of out website, found under the main menu.

Quotes:

Male

$10,000 of Coverage

Non-Tobacco Monthly Premiums

Age Transamerica Standard Aetna Standard
45 $33 $34
50 $38 $41
55 $48 $48
60 $60 $62
65 $80 $79
70 $106 $104
75 $140 $144
80 $198 $203
85 $299 $312
Female

$10,000 of Coverage

Non-Tobacco Monthly Premiums

Age Transamerica Standard Aetna Standard
45 $28 $30
50 $31 $37
55 $38 $44
60 $44 $51
65 $55 $62
70 $72 $77
75 $97 $98
80 $141 $140
85 $211 $220

senior man sitting on couch using inhaler

Policy Basics

This coverage was created to provide a low-cost option for seniors who do not want to leave a financial burden behind for their loved ones.

By getting a policy with a low affordable monthly payment you will also receive peace of mind knowing that everything will be taken care of once you are gone.

These plans are Simplified Issue Whole Life coverage.

Simplified Issue means that you will never be asked to get a medical exam. The underwriting process can be done completely over the phone.

Whole Life means that the coverage will never terminate by lasting for the entire life of the insured. Which is exactly the time in which you are seeking this coverage for.

Other standards of a Whole Life policy are:

  • No Expiration
  • Coverage Lock
  • Price Lock
  • Builds Cash Value
  • No Medical Exam
  • No Waiting Period Options

You must medically qualify for a plan that has no waiting period by answering favorably to the “YES” or “NO” health questions.

Again, for those with this condition, it is not an issue.

There are 4 types of policies within this niche of coverage.

Level – No waiting period (Preferred & Standard fall into this category)

Graded – 2-year waiting period

Modified – 2-year waiting period

Guaranteed Issue – 2-year waiting period

Listed above with the company recommendations we detailed the payout structure during the waiting period for Graded and Modified. The structures listed for the plans above are very standard industry-wide.

details of plan types chart

Guaranteed Issue

Guaranteed Issue was not discussed above, because it is not necessary for asthmatics.

The only reason this type of coverage is necessary is if you are in very compromised health with a severe diagnosis.

This plan type accepts 100% of applicants. No medical questions are asked and you just have to sign your name on the dotted line to get coverage. More often than not people are able to qualify for a more favorable plan option.

We bring up a Guaranteed Issue so you are aware of this coverage and that there are much better options available to you.

Companies heavily market their guaranteed acceptance policies through direct mail, television commercials, and online ads. They may present this plan type as the only option but we want you to know that it is NOT.

YOU HAVE BETTER OPTIONS.

Even if your health requires a policy with acceptance guaranteed, there are less expensive options available other than the ones you may know of through TV.

Give Willamette Life a call to speak with an agent and see what policies you are able to get. 833-518-0080

Captive Agencies vs Independent Agencies

A captive agency is able to represent and sell coverage from one company only. Usually, these are the companies that promote bundle discounts as they offer several lines of coverage including home, life, and auto.

An independent agency is able to provide coverage from a wide range of companies. This allows them to offer more plans that appeal to a wide range of consumer needs.

Independent agencies have the freedom to choose whether they specialize in a niche field or offer many lines of coverage like the majority of captive agencies do.

By working with an independent agency you will be able to have more options that provide tailored coverage. Essentially an independent agent will do the shopping for you through the eyes of an expert, rather than you calling around trying to get quotes from several captive agencies. We’ve all done it, but there is a better way.

Why Willamette Life

Willamette Life is an independent agency that specializes in Final Expense Insurance.

We pride ourselves in finding coverage for people that some carriers consider to be “high-risk”.

From Arizona to New Jersey, Willamette Life is here to assist you and your loved ones.

Final Thoughts

a. Several companies offer affordable Final Expense Insurance with asthma.

b. The best company is Foresters Financial because they will accept people for immediate coverage with their top-tier plan, Preferred. There are, however, other great options available.

c. The key takeaway is that working with an independent agent, no matter what the state of your current health, is the best way to get coverage while saving time and money.

Call Willamette Life at 844-576-0019

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