30 Jun Best Life Insurance for People on Oxygen
There are life insurance options available for those people on oxygen (diagnosed with COPD).
People on Oxygen seeking to obtain the correct type of life insurance policy should be aware that the he more you know about your diagnose, what stage of COPD you are in, what and how much oxygen you are prescribed will be very useful when applying for life insurance.
Life insurance and oxygen therapy is equally important to insurance carriers, as they seek to minimize their risks while offering viable solutions to consumers.
Severe COPD is when you have less than 50% lung capacity. You may be on oxygen. There is no cure for COPD and it is one of the leading causes of death.
Guaranteed Issue Life Insurance for People on Oxygen
An alternative to traditional life insurance, should your health preclude you from qualifying is to consider applying with a carrier that offers guaranteed issue life insurance. This is the type of policy that asks no health questions with no exam being required.
Most coverage, if you are on oxygen, will be a two-year waiting period product, meaning you have to wait two years fully before you can be covered for natural death.
Why is COPD Life Insurance Important?
Funeral and burial costs can exceed $25,000, and that doesn’t include the medical bills or other expenses you could leave behind when you pass away. You don’t want to put that kind of financial stress on your family when they will already have to deal with their emotional stress.
Where to get Life Insurance for People on Oxygen?
If you’ve ever been turned down for life insurance because of your health, don’t think that you can’t get affordable coverage. There are plenty of options for life insurance for people with COPD. One of the worst financial mistakes you can make for you and your loved ones is to not buy life insurance. Every year there are countless stories about families that lost a loved one unexpectedly. All of a sudden their lives were turned upside down and then the bills started coming in.
The good news is that life insurance with COPD is insurable. Before you consider buying life insurance, talk to an independent agent who can learn the specifics of your case and shop it around to get you the best offer.