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Can someone in poor health and has medical coverage qualify for life insurance to cover funeral expenses?
Wiki User
∙ 13y ago
Life insurance AND life insurance to cover funeral expenses are 2 different entities. A person can be insured and the Survivor can spend the money in any way he or she desires. IT HAS BEEN DONE before, leaving payments on all responsibilities to the family. When you say LIFE INSURANCE TO COVER FUNERAL EXPENSES, you are unknowingly referring to a burial insurance policy. It is not life insurance; it is a (let me be pointed here; no dog and pony show, I'm not an agent) purchase of a burial plot and the residuals involved. My friend told me (he sells this product) that he advises his client to call or visit the local funeral home and select a program. When that is known, payments are made into that purchase. Upon death, everything is provided.
Keep proof of payment. I like credit unions because within 5 minutes I can find out who acknowledged the money order, what date, and what time. Thank you Tiffi, in Texas.
Short answer - visit your local funeral home for more information. And write your state insurance commissioner for more information.
While the below answer is correct in that most companies will not offer coverage, it is incorrect in that they do not try and find a way not to pay claims. There are companies that will issue policies even to those that are terminal. Obviously the cost will reflect this but sometimes the benefit far outweighs the cost. If they issue a policy they will pay a claim especially if it was a risk policy to begin with. As mentioned below, it may be a graded benefit or a 2-3 year period before the benefit would be paid. In any event, if the insured were to die before that period, the premiums are returned with interest of usually 5-6%
AnswerMost life insurance companies won't cover you if you have a serious illness, and if they do, they'll often find a way out of paying you when they show you the fine print. Buying life insurance at this point is probably a waste of money.If you just want enough to cover a funeral, you might be able to get a little from Social Security. Check with them.
You should be able to get some life insurance, but given your husband's health, the cost is going to be exorbitant, and probably cost as much as the benefit. SSA pays a $220 death benefit, not enough for a funeral.
Answer"Poor Health" is a relative term. There certainly are some low dollar benefit plans that will cover almost anybody with a policy up to $50,000 benefit amount. The catch is that they do not pay benefits for the first 2 years. Consequently if he is in poor health but not terminal, this could be an option.I was able to get such a policy for a person with AIDS. His prognosis was he might live another 10 years. In the event he does die within the first 24 months the benefit will be limited to the premiums paid plus a nominal interest rate.
ANSWER
Some funeral expense insurance policies may provide limited benefits for the first 1-2 years. If you do apply for your husband, make sure to answer all questions truthfully, as their is usually a two year contest ability period from the time you buy the policy in which the insurance company may void coverage is there have been any misrepresentations on the application.
Make sure to choose a reputable company that has been around for awhile, you can trust. Also, make sure you can afford the premiums and ask about anything you don;t understand regarding the policy.
I hope that helps. Although it may be difficult to find affordable coverage, it may prove well worth your time. I wish your husband the best.
Wiki User
∙ 13y ago
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What is PIP in insurance?
In insurance, PIP is an acronym for Personal Injury Protection. In some states, PIP provides coverage for an insured person for certain "reasonable and necessary" expenses. The types of expenses that qualify for PIP coverage vary from state to state, but some examples of expenses may include: loss of services, income continuation, medical and hospital expenses, funeral expenses, and child care expenses for bodily injury caused by a covered accident (regardless of who was at fault).
Why would it be a good idea to have medical payments insurance on your auto insurance?
Medical payments coverage generally pays a portion of medical expenses incurred as a result of a collision and resulting injuries. Similar to Personal Injury Protection coverage, it pays expenses without regard to fault for the collision. It can fill in some of the gaps of coverage that may occur in Personal Injury Protection coverage, such as a high deductible. It may also be triggered when all of the benefits of Personal Injury Protection coverage are used, and pay additional medical expenses incurred. This coverage has nothing to do with physical damage to the vehicle. It pays benefits only for medical expenses incurred from the collision.
What kind of insurance is CAA travel insurance?
CAA travel insurance is coverage for unexpected expenses incurred while one is traveling. Expenses such as medical, accident, baggage and rental car costs can be included.
What is first dollar medical coverage?
First dollar coverage in health insurance means that your insurance covers health care expenses without copayments or deductibles having to be paid first.
What is Basic first party benefit coverage?
Basic First Party benefits are for Auto Insurance. They cover major medical, incidental loss, Funeral Expence and accidental death. You can get auto insurance with just liability only, but you would then have no coverage for any major medical bills that could arise out of an accident or any funeral expenses and such. I hope this has helped somewhat. If you have any other questions regarding any kind of propery and casualty insurance (such as Homeowners insurance, Auto, General liabilty etc.) let me know. Jessenia JCalle46@gmail.com
How much does Medical charge for basic hospital expense insurance coverage?
expenses of plans provided by employers as a starting point. ... Affordable Health Care Insurance Policy - Basic Guidelines You Need to Know ... Easy Methods to Get the Ideal Medical Insurance Coverage at a Minimum Cost
Does medical expenses cover funeral expenses if a relative is killed on your property?
Funeral expenses are NOT deductible on an individual taxpayers income tax return.
Type of insurance is the same as medical coverage?
In auto insurance, personal injury protection coverage is the same as medical coverage.
Does insurance cover the car or the driver?
Both. It covers the medical expenses of the passengers and the cost of repair to the cars. That is assuming you have full coverage.
What happens if medical expenses exceed auto insurance coverage after an auto accident?
1. Most states have a requirement that a registrant of an auto maintain "personal injury protection" (PIP) coverage (altho the name may be different). This is the essence of so-called no-fault auto insurance. Essentially, it pays a percentage of the insured's own medical bills and lost wages, up to a maximum amount, arising from an auto collision. It pays those expenses irrespective of fault for the collision. 2. Most insurers also offer a Medical Payments coverage. This is often an optional coverage. It pays an additional amount toward medical expenses , and often coordinates with the PIP coverage. Therefore, if the PIP coverage pays 80% of the medical bills, up to the policy limits, the medical payments coverage will pay the remaining 20% up to its policy limits. 3. If medical expenses exceed #1 and #2, one's major medical insurance is triggered. The auto insurance is "primary" in the sense that its benefits have to be exhausted before major medical insurance is called upon to pay. This is because auto insurance is required by state "financial responsibility laws" and for the further reason that it and the major medical insurance contain "coordination of benefits" provisions making the auto insurance primary. 4. If medical expenses still exceed the total available auto insurance and major medical insurance (including, if there is no major medical insurance), the injured party/insured is personally responsible for unpaid amounts. In this situation, the health care provider frequently is willing to work out payment arrangements. Alternatively, the unpaid amounts may be discharged in bankruptcy, but this is a very drastic step and should be avoided if at all possible.
What are three reasons a claim can be returned by insurance companies?
Medical expenses were incurred before insurance coverage, noncovered service deemed not a medical necessity, provider's address, PIN, or group number is missing.
You broke your ankle walking down your neighbors stairs. What does their homeowners insurance cover?
They would pay up to the limit of the Medical Expeses coverage for medical bills only. This coverage reimburses you for expenses that your personal healh insurance does not cover, i.e, deductible, co-pays.
