The Best Final Expense Insurance with Chronic Bronchitis

final expense insurance with chronic bronchitis
The Best Final Expense Insurance with Chronic Bronchitis

With more than 3 million new cases per year in the United States, this condition mostly affects people who are over the age of 40.

Both chronic bronchitis and emphysema fall under the umbrella of Chronic Obstructive Pulmonary Disease (COPD). However, according to the American Lung Association, some doctors think that chronic bronchitis may be present even though a person does not have the airway obstruction characteristic of COPD.

This gets a little tricky when finding the right life insurance coverage for your end-of-life expenses.

Can I Get Final Expense Insurance With Chronic Bronchitis?

It is possible for seniors to get affordable coverage with no waiting period. The easiest way to find low-cost Final Expense Insurance with chronic bronchitis is by working with an independent agency that specializes in this type of protection.

The best companies that accept this condition are outlined in this article along with other useful information when it comes to finding a policy on a budget.

Why Does Chronic Bronchitis Affect Coverage?

If not treated in a timely manner this condition is known to cause severe damage to the lungs that can lead to additional respiratory organ problems, heart failure, and an increased risk of lung cancer.

Associated Complications:

  • Dyspnea: shortness of breath
  • Pneumonia: an inflammatory condition of the lungs
  • Respiratory failure: the inadequate intake of oxygen and exhalation of carbon dioxide in the respiratory system
  • Cor pulmonale: failure of the right side of the heart
  • Pneumothorax: collapsed lungs
  • Polycythemia: increased levels of red blood cells
  • Emphysema: a long-term, chronic condition affecting the function of the air sacs in the lungs

For these reasons, it is something that the majority of insurance providers will ask about when determining coverage eligibility.

Can You Get Life Insurance with COPD?

It is possible to get life insurance with COPD. However, it is imperative that you work with the appropriate life insurance company because not all carriers will accept applicants with this condition. Final expense is an affordable option that allows for immediate coverage from specific companies. 

This link will show you the best burial insurance companies for COPD patients.

senior woman sitting on couch holding chest

What Type of Insurance is Final Expense?

Final Expense coverage is Simplified Issue Whole Life Insurance. It was designed to provide seniors an affordable way to cover the inevitable end-of-life expenses. By taking out a policy you will be making small monthly payments in which the coverage remains the same and the monthly cost never changes.

Simplified Issue refers to the fact that you will never be asked to get a medical exam.

Whole Life means that the coverage lasts for your entire life and never expires.

The Basics of Final Expense:

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

To get immediate coverage with no waiting period you must qualify based on your medical history.

There is no exam but you will be asked a series of “YES” or “NO” health questions. This process, known as underwriting, takes about 20 minutes and can be done completely over the phone.

Does Final Expense Insurance Make Sense?

Final expense coverage makes sense if you do not want to burden your family with end-of-life expenses and you do not have the savings to cover these costs. It could also be a good option if you do not currently have insurance or if you wish to keep an existing policy’s funds separate from your final expense fund.

How Does Underwriting Work?

Underwriting is essentially the decision making process. Each insurance company sets its own guidelines based upon its risk tolerance for which health conditions it will or will not accept.

Most companies offer two to three plan types. Through the underwriting process the company will determine which plan, if any, an individual will qualify for.

There are 4 Basic Types of Plans

Each of the plans below has different qualification standards and payout structures during the waiting period. Ask your agent for more information.

details of plan types chart

Tobacco use also plays a role.

If you have used tobacco within the last 12-24 months, this will increase the cost with most providers.

Make sure to adjust the options on the instant quote calculator if you are a tobacco user. This is not something you want to mislead an insurance company about. This is because they have the ability to contest claims when the time comes to payout your beneficiary.

What is the Best Final Expense Insurance Company?

There are several outstanding final expense life insurance companies. The determining factor of what makes the “best” is different from person to person as each company sets its own qualifying standards. Depending on the pre-existing conditions someone has will define which company is best for them.

What to Look for in a Company

  • Low-Cost
  • Immediate Coverage (if possible)
  • Good Financial Rating

The companies listed below are recommendations for those with chronic bronchitis only.

If you use oxygen to assist with breathing you will be disqualified for coverage with the three companies listed below.

If you have other pre-existing health concerns it is just as important to do your research on that condition, or you can work with an agent that is well versed in this area.

By utilizing the knowledge of an experienced and specialized agent you will be able to save time and money.

Aetna (CVS)

Aetna Logo black and white

Aetna is a part of the CVS family of companies which has a stellar reputation.

With Aetna, people with chronic bronchitis are eligible for coverage with no waiting period from the Standard plan.

Plan Types:

There are three plans offered by Aetna.

  • Preferred (Level) – No waiting period & low premiums
  • Standard (Level) – No waiting period & slightly higher premiums
  • Modified – 2-year waiting period & high premiums

Depending on the age, gender, and tobacco use of the proposed insured, Aetna could provide lower monthly premiums than the other companies.

To learn more about how to qualify for the Standard plan, read our full Aetna review or get a premium estimate by filling in the information needed on the instant quote tool.

TransamericaTransamerica black and white logo

This company has been around since 1928 and has established massive brand awareness during this time.

With a chronic bronchitis diagnosis, you are eligible for the Standard (Level) plan from Transamerica.

Plan Types:

There are 3 plans available from Transamerica.

  • Preferred (Level) – No waiting period & low premiums
  • Standard (Level) – No waiting period & slightly higher premiums
  • Easy Solution (Modified) – 2-year waiting period & high premiums

Non-smokers can get low rates, while those that use tobacco will find lower prices with other companies.

Foresters FinancialForesters Financial Logo black and white

This company has a great reputation as a Fraternal Benefits Organization while providing additional saving programs to its policy holding members.

The Standard plan from Foresters Financial will provide great coverage for seniors with this chronic lung disease.

Plan Types:

There are three plans offered by Foresters Financial.

  • Preferred (Level) – No waiting period & low premiums
  • Standard (Level) – No waiting period & slightly higher premiums
  • Basic (Modified) – 2-year waiting period & high premiums

While this company’s prices are slightly higher than others for non-smokers, Foresters Financial could be the right option for you.

For those that have other diagnoses such as bipolar depression or schizophrenia, this could be your best option as Transamerica and Aetna are not as lenient when it comes to mental health concerns.

Likewise, for people that are tobacco users, the Standard plan offers low rates dependent upon age at application.

Guaranteed Issue

This type of policy accepts 100% of people no matter what the state of their health is. However, if you only have chronic bronchitis there is no need for you to get this type of policy.

If you have additional medical concerns, this may be a viable option, depending on what the conditions are.

This is one of the only options for a person using oxygen.

If you must get guaranteed acceptance we recommend AIG as they have some of the lowest rates and living benefits.

Captive vs Independent Agencies

Captive agencies are ones that sell products from only one company. These companies are usually the ones that advertise a lot and are household names.

Independent agencies are able to represent many insurance companies with various products. This equates to a larger portfolio of offerings.

By having a wide variety of policies to offer, independent agents are better able to search out the coverage that is best for their client’s needs.

Typically captive agencies represent across multiple lines of business such as home, life, and auto coverage. While independent agents have the ability to choose what they represent and can either have a wide variety of offerings or specialize in one specific type of coverage.

Why Willamette Life

Willamette Life specializes in the Final Expense market of Life Insurance.

By having such a unique and specialized focus, the agents at Willamette Life are able to understand which plan is best for the applicant,

As illustrated above there are specific companies that work best for people with chronic bronchitis. This is also true of each and every health condition so it is imperative that you work with an agency that knows the intricacies of each provider.

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Final Thoughts

a. It is possible to get affordable Final Expense Insurance with chronic bronchitis. The key is to know which companies will accept those who have this condition with no waiting period.

b. Depending on other pre-existing conditions, the best companies for those with chronic bronchitis are Aetna, Transamerica, and Foresters Financial.

c. By working with a specialized independent agency you will save time and money while gaining peace of mind.

Give Willamette Life a call at 844-576-0019

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