Finding Affordable Funeral Insurance In A Wheelchair: 101

The truth of the matter is that being in a wheelchair or electric scooter will undoubtedly affect your ability to qualify for coverage.

But to be clear, everything that you have ever been diagnosed with or treated for could affect the coverage you are able to qualify for.

For example, if you are now disabled due to a diabetic amputation this could affect coverage just as much as being the victim of a stroke.

In the United States 2.7 million people use a wheelchair to get around, you are not alone!

In this article we will detail the coverage available to you in this condition.

There are a couple things, however, that you will want to look for when getting coverage: cost & waiting period

Funeral Insurance In A Wheelchair

Although pricing can still be very affordable, if you are permanently confined to a wheelchair or scooter there will be a waiting period before full coverage is available.

If your use of mobility assistance is temporary, you will be able to gain coverage with no waiting period.

Why It Matters

The reason for your immobility is of great importance to the insurance providers.

Because there are so many medical conditions that can cause someone to be wheelchair-bound, having this as criteria for coverage brings in a wide scope of additional diagnoses.

This list could include:

• Spinal Cord Injuries
• Amputations
• Cerebral Palsy
• Multiple Sclerosis (MS)
• Alzheimer’s Disease
• Muscular Dystrophy
• Parkinson’s Disease
• Amyotrophic Lateral Sclerosis (ALS)
• Scoliosis
• Traumatic Brain Injury
• Spina Bifida
• Diabetes
• Arthritis
• Obesity

These are just some of the nearly infinite possible reasons.

The insurance companies, by asking about the state of mobility, is basically eliminating the potential risk that comes along with these conditions listed above. Some companies may ask about these conditions specifically, others may not.

Before we go too much further in coverage qualifications, let’s take a quick look into the basics of this type of policy.

Policy Basics

Funeral Insurance is a type of Simplified Issue Whole Life coverage.

Because it is a Simplified Issue policy you will never be asked to get a medical exam to qualify. The underwriting (we will discuss this next) is very lenient when compared to larger, more traditional, coverage types.

Whole Life coverage means that the policy will last your entire life and come with the following benefits.

• No Expiration
• Coverage Lock
• Price Lock
• Builds Cash Value
• No Medical Exam

By having no expiration, coverage lock, and price lock you will know that your policy will be there for your family when needed, which is exactly why you take a life policy out in the first place, right?

Underwriting

This is the decision making process.

Each company has its own predetermined qualification for each plan offered. In order to qualify for a plan, the proposed insured (you) must answer favorably to a series of “YES” or “NO” health questions.

In regards to mobility, you will likely see questions asked in at least one of the following ways on applications.

1: Are you currently using a wheelchair or electric scooter due to an ongoing diagnosed illness, medical condition, or disease?”

2: Are you currently requiring either of the following (other than for fractures, bone or joint surgery, including replacement) wheelchair or electric scooter?

Sometimes the questions will exclude temporary use, sometimes it will not specify. If the use is expected to be temporary you will want to make sure that you find the right carrier that allows for this exclusion. We will recommend a carrier later in this article!

3: They may not ask at all

This will happen most commonly with Guaranteed Issue policies because they do not ask ANY health questions. There is also another company that does not ask, The Heritage Plan from Guarantee Trust Life, which we will go into detail later.

Top Companies

The recommendations below are specifically for those confined to a wheelchair. Since there are many medical concerns that can lead to immobility, it is very important that you also look into your contributing condition as it also has the ability to affect coverage just as much as being in a wheelchair or electric scooter.

We make recommendations for temporary use and long term use due to illness as both will have different outcomes with eligibility.

Guarantee Trust Life

The Heritage Plan from Guarantee Trust Life (GTL) is a great go-to option.

This plan would be best for someone who is expected to need this assistance long term due to an illness. For those using this as a temporary solution for mobility, there are other options.

The underwriting for this plan is extremely lenient and actually reduces the chance that someone will need a Guaranteed Issue plan.

There are 5 total health questions that you will need to answer “NO” to in order to qualify. None of these questions refer to the use of mobility assistance.

Health Questions:

1. Within the last twenty-four (24) months, have you been receiving kidney dialysis, require 24-hour continuous oxygen use (excluding CPAP), have an implanted defibrillator or received or been advised by a member of the medical profession to get an organ transplant?

2. Within the last twenty-four (24) months have you been diagnosed with or treated by a member of the medical profession for Alzheimer’s, dementia, or memory loss?

3. Currently diagnosed as having, or receiving treatment by a member of the medical profession for invasive cancer (excluding Stage A Prostate Cancer, Carcinoma in Situ, and Squamous Cell/Basal Cell Carcinoma)?

4. Are you currently bedridden, confined to a hospital, nursing home, mental care facility, long term care facility, hospice, or been diagnosed with a terminal illness?

5. Have you been diagnosed by a member of the medical profession as having the Human Immunodeficiency Virus (HIV), ARC, or AIDS?

If you are truthfully able to answer “NO” to each of these questions, you will be able to qualify for this amazing coverage.

This plan comes with a 2-year waiting period before full coverage is available, with partial coverage after just one year.

Waiting period payout details:

• Death in year 1 – return of premiums +5% interest
• Death in year 2 – 50% of total policy amount
• Death in year 3 or later – 100% of policy amount

There are several other policies that also have a 2-year waiting period but the payout structure during said waiting period looks very different.

Typically payout structures for Guaranteed Issue and other plans are a return of premiums +10% interest for year 1 & 2. While this is done as a business decision to make sure they do not lose money as a company, it is in your best interest as the consumer to move forward with this plan from GTL if possible.

While the difference between 5% and 10% might seem big in that first year, it usually comes down to less than $100 difference. The difference in year 2 is DRASTIC if the insured passes.

Hopefully, of course, you will not have to worry too much about this waiting period at all and will make it past this 2-year time frame. But it is our job to steer you in the direction of your best interest which is why we broke down the details.

Quotes:

AIG

If you are unable to qualify for the plan with Guarantee Trust Life due to your health concerns, AIG provides a Guaranteed Issue policy that is the best in the business.

Guaranteed Issue policies ask no medical questions and accept all that apply. These plans come with at least a 2-year waiting period and AIG is no exception.

During this 2-year waiting period with AIG, if the insured passes, the beneficiary will receive the paid premiums plus 10% interest. If the insured lives past the waiting period the beneficiary will receive the full policy amount upon the filing of the claim.

While this is not necessarily an ideal plan, it still beats not taking any action at all. Plus, let’s face it, 10% interest is much better than you would get from any bank these days!

Quotes:

Mutual of Omaha

If you are in a wheelchair due to an accident or recent surgery but are expecting it to be a temporary situation, the Level plan from Mutual of Omaha could be a great option.

If you can answer “NO” to the following health question and are otherwise in good health, you could qualify for this plan.

Health question:

1. Is the proposed insured currently requiring any of the following (other than for fractures, bone, or joint surgery, including replacement): wheelchair, electric scooter, or oxygen equipment to assist breathing (excluding use for sleep apnea)?

You must be in good health and answer favorably to all other health questions asked on the application.

Again, this is only for people who are temporarily in this situation.

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

Quotes:

Captive vs Independent Agencies

A captive agency is contractually obligated to sell plans from one company and one company only.

These are agencies that have a high level of brand awareness and promote the local agent that essentially has a franchise branch of the provider.

Oftentimes coverage is available for multiple lines of business including home, life, and auto.

An independent agency is able to have contracts with several companies allowing them to have an extended portfolio and many options to offer. By having more options this allows for independent agencies to provide a wider range of coverage to its clients.

When it comes to gaining this coverage, as you read above, each carrier is specific in what it will or will not accept with preexisting conditions. Being able to represent a wide variety of options to a client opens the door to more tailored plan options.

Independent agencies can also choose to operate over multiple lines of coverage or can offer extensive coverage in a specific section of the insurance market.

Why Willamette Life

Willamette Life is a specialized independent agency focusing solely on funeral coverage.

By doing this it allows us to represent many providers that have certain niches within this market. There are companies that are best for heart conditions, diabetes, cancer, etc.

Our agents know the intricacies of each provider and get tremendous pride in fitting clients with the best plan to meet their individual wants and needs.

From Illinois to Texas Willamette Life is here for you and your family.

Final Thoughts

a. Finding Funeral Insurance in a wheelchair is possible at an affordable rate. The key is to work with the right company.

b. If you are currently unable to walk and maneuver on your own due to illness the best company to take a policy out with is Guarantee Trust Life. While this plan has a 2-year waiting period it has a very client-friendly payout structure during this time including partial coverage after just 1-year.

c. Working with an independent agent will be invaluable in finding the best policy to meet your unique health history needs and will save you both time and money.

Give Willamette Life a call at 844-576-0019