Yes, a person with liver cirrhosis can get burial insurance. However, they will only qualify for a first-day coverage plan. This means that the death benefit will be paid on the day you die. We say this because, for the most part, anyone diagnosed with cirrhosis won't be able to qualify for a traditional life insurance policy or any type of term life insurance policy without a medical exam.
A person with cirrhosis can get life insurance for final expenses. Many companies will set up a waiting period before full coverage begins, but some companies will offer immediate coverage. Older people with cirrhosis will experience a slightly inflated rate due to the nature of this disease. Life insurance policies generally have a two-year period in which the policy is contestable.
This means that if the insured dies within those first two years, the company can challenge the payment. When a death occurs during this period, the company will review all the information in the request, the medical questionnaire and any other documents provided to find a reason to deny the claim. If the insured dies and this has absolutely nothing to do with alcohol, but the company discovers that the insured lied about alcohol consumption in their application, it will use it to try to deny the claim. By submitting your personal information, you are making an inquiry as a consumer about the insurance offered by authorized insurance agents.
Even if your application for life insurance was rejected by an insurer, you can still purchase life insurance through a guaranteed issuance policy. If you are denied coverage, it could take at least two years before you can get life insurance. Life insurance coverage provides a financial safety net and could replace your salary or be used to pay your children's mortgage or college costs. Every time you fill out an application for life insurance, you're likely to be asked questions about your alcohol use, such as how often you drink, how much you drink, and any past or current treatment for alcoholism.
Because the insurer isn't sure how healthy you are, it will charge you more for your life insurance policy than someone who is healthier. Life insurance covers suicide and its beneficiaries will receive the death benefit unless the death occurs during the impeachment period, usually the first two years of the policy, provided that there is no other exclusion in the policy that prohibits it. In most states, life insurance companies can add alcohol-related exclusions to policies. You'll pay more in premiums for less coverage with a lifetime policy, but you'll have the security of knowing that your loved ones will be protected for life.
It seems that there are a couple of different life insurance companies that, at least on “paper”, claim that they will be willing to approve a certain person a low-term life insurance policy, things have become a little more complicated when it comes to helping someone who has been diagnosed. with cirrhosis of the liver. The level is the best type of coverage because it has the lowest cost and offers final expense insurance with no waiting period. On the other hand, whole life insurance pays a death benefit every time you die, regardless of how long you've had the policy or how old you are.
If you die from a heart attack, cancer, infection, kidney failure, stroke, old age, or some other natural cause, your beneficiaries will receive insurance payments. For these reasons, cirrhosis is considered a high-risk condition that is a warning sign for insurance companies of final expenses. .