Diabetic coma is a life-threatening condition that affects those with type I and type II diabetes. It is caused by severely high blood sugar (hyperglycemia) or severely low blood sugar (hypoglycemia).
Those with type I diabetes are at the highest risk of this complication, though it is a serious complication for all. You can do many things to prevent this from happening to you if you have diabetes.
The truth is, looking for funeral insurance after a diabetic coma will affect the coverage options available. Though there are top funeral insurance companies that will provide coverage.
Can You Be Denied Funeral Insurance With Diabetic Coma?
Some funeral insurance companies will deny coverage to people who have experienced a diabetic coma. However, several providers will accept this condition. The amount of time that has passed since the diabetic coma will play a role in policy acceptance.
Features of a Burial Policy
Funeral insurance is a type of whole life insurance which means that it never expires. These plans were designed specifically with seniors in mind to provide an affordable option to plan for their funeral costs. These funds are flexible and can be used for any necessary expenses.
Life insurance companies also refer to these plans as final expense coverage or burial insurance.
A few main advantages make funeral insurance the ideal coverage for millions of seniors.
Affordable: Burial insurance death benefits range from $1,000 – $40,000 making them cost less than traditional whole life policies. Traditional whole life insurance ranges from $50,000 into the millions.
No Medical Exam: These plans will never require a medical exam because they fall under simplified issue coverage. This allows for protection to be taken out completely over the phone without leaving the comfort of home. The application will ask a few yes/no health questions, but that is it.
No Denial: Every company sets its own qualifying standards, but some companies offer guaranteed acceptance. Even if you cannot get coverage from one company, plenty of others will still accept you.
Whole Life Insurance Highlights
There are four basic benefits that whole life plans offer.
No Expiration: Whole life coverage is permanent and lasts for the entire life of the insured.
Coverage Lock: The coverage amount will never change. This gives you and your beneficiary peace of mind knowing that the death benefit will be there when it’s needed.
Price Lock: The monthly cost will never fluctuate. The price you pay for your first premium will remain the same through your last, regardless of how long you live.
Builds Cash Value: A cash value builds over time, allowing the policy owner to borrow from it if they wish. This account grows by a small portion of each premium payment getting allocated into this account.
Underwriting: How Will My Diabetic Coma Affect Burial Insurance?
How you live your life matters to carriers. The main thing companies are going to look at when issuing funeral insurance for diabetics is that it is under control. If you have recently been in a diabetic coma, this is a sign of not effectively managing it.
The fact is, diabetic coma is life-threatening. You need to show the provider that you can take the necessary precautions.
Three Ways Insurance Companies Ask About Diabetic Coma
There are 3 ways that these companies will ask about health issues on the application for coverage. You will see 1 of the 3 listed below on nearly every application.
“Have you ever been diagnosed or treated for diabetic coma?”
This could either disqualify you or place you in a more restrictive plan. By asking if you have ever had this diagnosis, the carrier is not interested in the timeline.
“Within the last 2 years, have you been diagnosed or treated for diabetic coma?”
If it has been over 2 years, you will have more options. Usually, it is between 2 – 4 years that the carrier will inquire about. Your agent will ask you the timeframe of diagnosis and treatment during the application process.
They won’t ask about it at all.
This is uncommon and will usually come with a waiting period. The usual “look back” period for insurance companies is if your diabetic coma was in the last 2 years.
Four Ways the Insurance Providers React to Diabetic Coma
Immediate Coverage & Low Prices: Some companies will award coverage with no waiting period. These plans often offer the lowest-priced. This is what your goal should be when looking for coverage with most pre-existing conditions. If your diabetic coma was over 2 years ago, this is a realistic option.
Immediate Coverage & Higher Prices: Out of the carriers that will accept you with no waiting period after experiencing diabetic coma, they may charge you more for coverage. This is because of how they react to the questions on the application, only qualifying you for a more expensive plan.
Waiting Period & Higher Prices: The same reasoning as above, the provider’s application questions may be constructed to where you qualify for coverage but only for a plan that has a waiting period and is more expensive. This would be a common reaction if your diabetic coma happened within the last 2 years.
No Coverage: Several carriers will not accept your application if you have ever had a diabetic coma. Fortunately, there are several that will accept you.
Other Pre-Existing Conditions that Affect Getting a Burial Policy
Final expense life insurance companies will not ask about diabetic ketoacidosis or anything related to your blood sugar levels. However, they will ask about other common complications for people with diabetes. Most insurance companies will ask about the following pre-existing conditions.
It is still completely possible to get coverage with these conditions, but your eligibility could change depending on the company.
How To Find The Best Final Expense Insurance For Diabetic Coma
When looking into the best final expense insurance companies, it is important to understand that each provider sets its own underwriting requirements.
It is vital to recognize that the best company for you might be different from your friend, neighbor, or even spouse. Since you have been diagnosed with diabetic coma, this is drastically going to affect your coverage options. However, companies that are favorable towards diabetic coma are Foresters Financial, Guarantee Trust Life, and United Home Life.
If you have another health condition that could throw up a potential red flag for a provider, this needs to be considered.
You should speak to an insurance professional specializing in final expense insurance coverage, especially if you have any sort of health complication that could affect coverage.
3 Main Considerations for Burial Insurance Policies
It may seem like there are many things to look for when getting this financial protection for your loved ones. However, there are truly only three things to pay attention to.
Company: An insurance provider that has a strong financial foundation is a top priority. Working with a company that has a high financial rating will bring peace of mind knowing that your claim will be paid once filed.
Cost: Getting a policy that you can afford is essential. While the cost of the policy will not change, your income might so make sure it is affordable for the foreseeable future.
Coverage: Always try to qualify for protection that begins immediately. This is not always possible depending on when your diabetic coma was and other pre-existing health concerns, but attempting this is important.
Can You Get Life Insurance for Someone in a Coma?
The person that the life insurance is intended to cover cannot be taken out without their consent or knowledge. If someone is currently in a coma, you cannot take out a life insurance policy on them. Once they are conscience, getting life insurance coverage is possible.
Captive vs. Independent Agencies
There are two main options that seniors have when looking for final expense insurance. Both captive and independent agents are legitimate ways to purchase coverage but how the brokers go about the process is vastly different.
Captive: This type of agency can only sell products from one specific company. Brokers that work for these agencies do not have access to other policies. They may not be aware of products on the market that could be better for seniors with diabetic coma. Additionally, those with diabetes may be denied by captive agencies due to their underwriting standards.
Independent: An independent agency offers a variety of plans from several different companies. Having greater access allows independent agencies to shop around on your behalf to find a product that meets your specific needs. Brokers from independent agencies will save you time and money.
How Willamette Life Can Help
Willamette Life is dedicated to helping those who want and need coverage for their final expenses. This is an inevitable cost that someone is going to incur whether they are prepared or not.
The goal of Willamette Life is to place you with the best carrier that fits your specific needs at the lowest cost.
Call us at 844-576-0019
a. Funeral insurance with diabetic coma is available from select carriers. Acceptance may depend on when you experienced this condition.
b. Every insurance company sets its own qualifying guidelines. When it comes to burial insurance with diabetic coma, some carriers are more lenient than others.
c. Working with an independent agency like Willamette Life will provide you with the best opportunity to find coverage with no waiting period.
Stacie manages the content for Willamette Life by keeping it up to date and accurate. By taking the questions frequently asked by clients she has been able to assist in developing a series of blogs that will hopefully be able to help more people than just those we are able to speak with.
We would be happy to answer your specific questions if there is anything we haven’t covered yet.