Can you get life insurance if you have Alzheimer’s?

Can you get life insurance if you have Alzheimer’s?

It is getting to be a common issue that seniors face. Can you get life insurance if you have Alzheimer’s? As baby boomers leave the workforce and term life insurance products expire, seniors are faced with some limiting choices as they select a new life insurance plan. Finding decent life insurance quotes following an Alzheimer’s or dementia diagnosis is a challenge but it is not the impossible dream. Just the fears of dementia and Alzheimer’s may be a significant driving force to start planning for funeral insurance.

Receive an instant funeral insurance quote by completing the final expense form on this page. You will get multiple prices from companies in your state.

Can you get life insurance if you have Alzheimer's? It's possible.
Can You Get Life Insurance If You Have Alzheimer’s?

The First Step In The Process

So, what is the best life insurance product for Alzheimers’ and dementia patients? To determine the life insurance product that is available to you, almost all life insurance applications will include a question like this one:

Has the proposed insured ever been diagnosed with, treated for or advised by a physician or health care provider to receive treatment for Alzheimer’s Disease

United of Omaha Application for Individual Life Insurance

If you answer yes, then the insurance company will deny coverage.

That’s it. If you answer yes to the Alzheimer’s or dementia question, then the life insurance company will deny you access to day one life insurance coverage.

Day One Life Insurance Coverage

Day one life insurance coverage is a policy that offers full protection from the first day the policy is in effect. Paying the policy premium on the day of the application is the best way to get day one coverage. But can you get day one life insurance coverage if you have Alzheimer’s or dementia?

Buying life insurance without a waiting period is possible for seniors that do not have serious health conditions and are willing to answer questions or take a medical exam.

Can You Get Day One Coverage If You Have Alzheimer’s?

No. There is no company that will issue day one life insurance coverage to an Alzheimers or dementia patient.

Your life agent at Choice Senior Life will ask you a series of short health questions to determine if, in fact, you are eligible for day one life insurance protection. But if you confirm that you have a case of diagnosed Alzheimer’s then we will definitely look at guaranteed acceptance policies.

Guaranteed Life insurance if you have Alzheimer's
Guaranteed Life Insurance If You Have Alzheimer’s

Guaranteed Acceptance Policy

The option is going to be a guaranteed issue policy, where the Alzheimer’s question isn’t even asked. It’s kind of a catch 22. Choice Senior Life is going to ask you a few health questions up front to determine how we can be of best service to you.

Of course, you can call us and just tell us point blank. “I want a guaranteed issue policy. No questions asked. Thanks very much”.

It’s not entirely true that there are no questions asked. We still need to know some basic information to help process the application for guaranteed acceptance insurance.

  • Birthdate of the applicant
  • Gender of the applicant
  • Banking Information
  • Beneficiary Information
  • Name and Address
  • Social Security Information of the applicant

Best Life Insurance for Seniors

So what is the best life insurance for seniors? The one that you’re comfortable with! It’s so important to have a life insurance policy that makes sense to you. It does absolutely no good to have a policy that you can not afford or don’t want.

Seniors Living With Alzheimer’s Disease

Seniors living with Alzheimer’s are deciding in advance that they do not want to leave a large funeral bill behind for their children to bear. The peace of mind that comes with a policy that provides for the funeral costs is priceless to some.

In some cases, seniors are intent on leaving money behind to their grandchildren as a legacy reminder. Whatever your reason, we commend you on your decision to take responsibility for your own future.

Seniors with Alzheimer’s disease end up choosing a guaranteed issue final expense insurance policy.

3 Reasons Why Seniors with Alzheimer’s Choose Final Expense Insurance

3 reasons why seniors with Alzheimer's buy final expense insurance.
3 Reasons Why Seniors with Alzheimer’s Buy Final Expense Insurance

 1. Because they do not have a dedicated amount of money set aside for their final expenses and they are concerned about leaving a big funeral bill behind. Funeral and burial costs can average well over $10,000. Many seniors and parents feel that their children should not have to pay the funeral and burial bills.

2. They are checking the pricing on what they currently have in place.  They want to see if they can find more value for their spending or more benefits than what they currently haveSometimes it just makes sense to add on to what they currently have. Many seniors have been left in the position of no life insurance or little life insurance. Sometimes just adding $5,000 or $10,000 to their existing policy will help make all the difference in the world to the family.

Example: Janet called today to ask us to help increase her life insurance coverage. She had taken a policy 2 years ago with $7,000 of protection. Realizing that amount is not going to be enough money for her burial arrangements, she reached out to us to find out what it would take to add another $5,000 policy. We were able to find and secure for her an extra $5,000 in protection for under $30 a month.

3. Because they want to leave behind a legacy.  Income for a surviving spouse, money for the grandkids, or to charity. It’s actually quite common for a Grandparent to have a policy set up with the money equally benefiting the grandkids.

About Choice Senior Life

We’re a free, full service, state-appointed Life Insurance Agency that specializes in affordable Final Expense Coverage. We have access to a huge database of the top final expense insurance companies. Trusted ones you know like AIG, Royal Neighbors, and Mutual of Omaha. All of our companies have the most competitive prices, so you can rest easy knowing you’ll be getting the right funeral insurance policy at the lowest price.

final expense life insurance companies

We want to make sure you get the coverage that best suits your needs, not ours. Come start a conversation with us here and find out how we can help you keep your family protected. We would be glad to help you discover the best life insurance for seniors.

Receive an instant funeral insurance quote by completing the final expense form on this page. You will get multiple prices from companies in your state.

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