How to apply for life insurance for a Parent with Alzheimer’s

How to apply for life insurance for a Parent with Alzheimer’s

When you are applying for life insurance for a parent with Alzheimer’s knowing just what to expect can help make the process simple and easy. In just a few moments, we can help you better understand the process and what you’ll need to provide to complete the application process.

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.

Application Process: How to apply for life insurance for a parent with Alzheimer’s

5 easy steps to apply for  life insurance for seniors with alzheimer's
How To Apply For Life Insurance For Seniors With Alzheimer’s

Get a quote

The first thing to do is to complete the quote form on the Choice Senior Life web page. You will get an instant quote and the process is absolutely free. That process is the fastest and easiest way to see quotes for the funeral insurance product in your state. So if you are curious as to how to apply for life insurance for seniors with dementia, then that is the first step.

When completing the quote request, because Alzheimer’s is the diagnosis, make sure to click “Guaranteed Issue”

Speak with an agent

You will get the best possible coverage at the lowest price if you speak with our agent from Choice Senior Life. We will contact you after you have completed the quote form. The agent will ask you some basic questions about your situation.

You can also ask questions and make sure you completely understand what you are purchasing. You can request a quote online or call us on the phone and tell us a little bit about your situation. A parent with Alzheimer’s is a situation that we understand.

An independent agent can compare all the ins and outs of life insurance policies available through various companies. They can search through all the carriers and find the most affordable plan.

Complete the application

The application process is very simple and can be completed in under 15 minutes.

We always recommended that the insured and owner be the same person when initially setting up the policy. This helps facilitate the process and ensure that the policy is issued in the most efficient way possible. It is easy to make changes once the policy is issued.

A policy number is issued immediately!

Once completed, the company will email you the application for your signature and authorization. This can be signed from your computer or mobile phone or pad. The application once signed, is reviewed by the company.

Make a payment

No contract is complete without consideration. Your payment of the premium is the consideration. As soon as the payment is processed then your policy will be in force.

Choice Senior Life will offer you the ability to make payments automatically on a day and date that you choose. For example, if you want the payment to be set up to be deducted on the 15th of each month. Then so be it. If you prefer 1st or 3rd. Then that is also acceptable. It’s your choice.

Example: Our client received her disability check on the first of every month. She decided that it would be in her best interest to have the monthly payment deducted on the 3rd day of each month. She just felt more comfortable in this arrangement. We agreed that the piece of mind was far more valuable in this situation.

We recommend that the monthly payment be set to coincide with the Social Security payment date. The first, second, third or fourth Wednesday of each month.

How much coverage do you need for a parent with Alzheimer’s

Determine how much life insurance coverage is needed. For the most part, people choose the amount of coverage that will pay the final expenses of the deceased. Funeral and burial costs are the primary concern.

It probably goes without saying but the more coverage you choose, the higher the premium payment will be. You can see an instant chart of premiums here.

Funeral costs can and do vary from State to State and region to region.

The high cost of funerals in America
The High Cost of Dying In America

Choice Senior Life has researched funeral costs and prices.

The average funeral cost in the United States is $10,000. Cremations and services $5,000.

Some of our clients want to leave a little something extra behind as a legacy reminder for their grandkids and children. Others want the bare minimum protection. Whatever you decide and whatever level of coverage that you feel is appropriate is the most important thing.

The conclusion: Funerals are expensive and the costs keep going up.

  • The cost of cremation with a traditional funeral service averages $10,000-$12,000.
  • The average cost of cremation with a memorial service is $8,000-$10,000.
  • The average cost of cremation with no funeral or memorial service is a minimum of $3,000.
  • The average cost of a burial with a traditional funeral service is $15,000.
  • The average cost of a burial with a memorial service is $10,000.
Apply for Life Insurance

Guaranteed Issue for Alzheimer’s

Most people easily understand the need for final expense protection for their families. The families left behind can not afford to take the financial hit a funeral and burial would bring.

The number one reason seniors get a guaranteed issue policy is that there are no health or medical questions asked of the applicant. There are no tests to take.

There are also many advantages to living benefits provisions. Acceptance is guaranteed. The provisions of a guaranteed issue policy vary slightly from company to company. However, the 2-year waiting period for Alzheimer’s patients is a common standard in the industry.

  • Year 1-2. 110% of premiums paid
  • Years 3 + Full Face Amount
  • Accidental Death: Full face Amount
  • In the event of a suicide: Premiums refunded
  • Must be a US Citizen
  • Must be able to comprehend the application and sign the application

Innovative Accelerated Death Benefits Included

GIWL Guaranteed Issue Whole Life insurance includes innovative features that allow the insured to accelerate their death benefits if they suffer from a qualifying illness. The Accelerated Death Benefits provision is life insurance they can use while still living!

Chronic Illness

Accelerated Death Benefit pays a one-time lump sum payment of up to 25 % of the policies face value with no waiting period.

Terminal Illness

Accelerated Death Benefit pays 50% of the death benefit in the year accelerated.

In both cases, the accelerated benefit can be used to help pay for medical bills, or for any other purpose. The remaining balance of the benefit is paid to the beneficiaries in their time of need.

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 carriers have competitive pricing, so you can rest easy knowing you’ll be getting the right policy at the lowest price.

Trusted Funeral 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 keep your family protected. If you need more information about how to apply for life insurance for a senior parent with dementia or Alzheimer’s, Choice Senior Life can help.

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.