This is one of the Insurance programs I got last week. Guaranteed Acceptance, No Medical Exam....You cannot be cancelled even if your health changes....Fixed Premiums for the rest of your life.....you can apply for this coverae up to age 75 and it builds cash value, and at the age of 100, they will pay you a cash benefit equal to the face value of the policy.... 100% of face value starting day 1 if you get accidently killed and if you die of natural causes the 1st year, it will pay 125% of premiums paid and if you die during 2nd year it pays 250%. After the 2 years. it pays face value of the policy....Current or past healh history doesn't matter. This is from Assurity Life Ins. Co. Here is the toll free number.. 800-889-6002.. extension 24... If you need it check them out.. If Barb ws still here with me, I would get his one and she would also have my policy from the Steel Mill I worked at. Too bad I can't get my policy from Modern Woodman. That one I would cash in..Man I am proud LOL I don't see any typos.
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What they don't tell you with thee kinds of policies is the total amount of insurance that you can buy is really low, like the amount it might take to plant you in the ground - around 15k.
Jim,
That mean you could get a cash out in just 2 years!!!
THe Max is $10,000. Why would you cash it out after 2 yrs. That would defeat the purpose of buying it. I would buy some of this if I had a reason.
Gotta keep in mind that insurance isn't a Lotto, where you are trying for a big win, but it's a hedge against something you can't replace without making major lifestyle changes.
For example, one insures a home or even a new car, but one doesn't insure tables or chairs (unless one is a sucker for warranty insurance!). One insures a wage earner, or a Mom, but not the kids. When one retires, the insurance can drop to the retirement income. When I was retired and we divorced, we cashed in all the policies as there was no point.
Jim,
I was trying to make a funny meaning that you would be 100 in 2 years. My bad
My whole point was to use insurance as a net for my family. I thought if I could not get life insurance, then maybe I could help get the mortgage atleast paid with mortgage insurance. Maybe I still can. After all, we have had a home for quite a long time now
Scarry times though for the mortgage market.
See-what? I just mention mortgage and the fed government has to buy our everybody!!! Too eerie. I throw up my hands.
Christine, you are our only hope!
Debbie
Yikes!!!!!
Im buckling under the pressure.
Next week I have several hours between appointments on Tuesday so I will try to schedule something. I really hate messing with insurance. Its tricky to understand and I always seem to get more than I need.
Hey!
Didn't mean to put too much pressure on, just a
little. I don't think you can have too much.
Good luck
Debbie
Finally the insurance guy coming out tomorrow evening.
Well I usually don't read this section of the forum cause there is no insurance company that will take on me and/or my husband. As soon as they heard Diabeties well book closed...you can immagine what they would say to the added Oral Cancer issue even though it is clear now...I don't think they would even open the door just keep it shut..
Ok I now have some insurance info. Its good news for some, not so great for me.
I deal with Allstate and the agent advised me that most people w/ cancer are still able to get life insurance or mortgage life insurance when they are about 5 years out. Of course the rates will be higher. At 10 years out, its very easy to get. He told me this would be basically the same no matter what state you are in. He said he just wrote a policy for a woman who is a breast cancer survivor of 9 years. He said anybody who is only a few years in the clear would have a very difficult time getting any policy written.
For me, unfortunately my mortgage life insurance was on my old house which was alot cheaper than my new one. When I bought this house 2 1/2 yrs ago, I thought the insurance carried over, which it did not. I have the option of converting it to life insurance with a monthly increase of $60 per month. The insurance is only for $54,000. If I let it go, then it will gradually decrease like it had before but the price stays at $23 a month. My thinking is to let it go for about 5 years, then try to convert it again. The value would only drop by about $6000. Any insurance experts out there that could tell me if its worth it. I told them to let it go how it is since I have $250,000 life insuance thru work which would cover everything necessary anyway.
Hope I was able to give some helpful info.
Keep in mind that mortgage insurance declines in value to you as you pay down the mortgage. My ex-wife was very impressed when a co-worker of hers had mortgage paid off when husband died until I explained that if he had had life insurance instead, she would have the choice of paying of the mortgage (which might have been at a favorable rate) or using the money for something else (like investments).
Of course the tuff point for us is when getting the mortgage requires us to get the insurance (which is really protecting the lender, isn't it?).
Pete:
It sure is tough to get insurance. I understand how my mortgage life insurance will decline. Im figuring at my age (46) that hopefully I will have at least another 5 years left. At that point the mortgage life insurance shouldnt have decreased by that much to make it worth the extra cost. So in 5 years, I would be able to convert it to real insurance at a more favorable rate and amount.
All I can say is that I am so glad that I picked up a bunch of insurance when I started my current job. If I wanted to change that now I would be put thru a million medical questions and probably be turned down.
Christine,
You did good. I knew I could not get life insurance now, but
I am like you and have it at work also. My feeling was, that if something happened to me, I would probably have to quit work or go
on disability or something and lose all of that. OF course, that is the worst that could happen, but you know how we must think after going through this!!
I felt like if I could get mortgage insurance, it would at least
help my husband a little.
We just all need to live longer-that's all there is to it!!
LOL!!!
Debbie
One of my great grandmothers lived to 96 and the other to 108.. I'm going to set a new record for longevity for this family.. LOL {^^}
Jim,
I thought you were already that old. LOL
Well-just got in the mail and thing from credit card co. telling
me I could sign up for disability insurance in case something happend to me. So, I called them and explained that I had been ill in the past, but considered myself cancer free now. How would they
feel about me signing up? They said of course I could sign up.
So I asked them that what about in 10 years, I got cancer somewhere
else, would they consider that pre-existing.
They, of course, said it would depend on the examiner at the time.
(Sounds like I was a corpse or something!)
So I said I would just waste all that money? He answered that he quessed I would!!
So, I quess we should just pay ourselves in a little account with whatever little amount we can scrounge up!!
Makes me wonder-is "Old Age" pre-existing??
Debbie
Debbie,
No, old age isn't pre-existing, but life is - and life is terminal. Insurance guys are pretty good at twisting things to their side of almost any issue.
Lani
Debbie
I think you are onto something. Since the insurance industry has pretty much written us cancer people off for at least 5 years, we need to get creative.
If we were able to invest the money we spent on insurance premiums. Which would be at top rate since as cancer patients we are now very high risk. Then is done wisely we could build our own little nest eggs.
Guess thats one for David. Creative financing to build a nice sum.
My husband went without health insurance for two years until he could get on Social Security and Medicare at 62. We owned our own business and only the two of us were on the policy. The premuims were hitting $1200 a month and he could not get another insurance because he is diabetic. We figured that if he got sick we would just work out a payment plan with the doctors and hospital. I was able to get Blue Cross because I was healthy.
Here is a webiste that will compare insurance companies.
www.efinancial.comMaybe there is some hope that we could buy insurance.
I am so freaking out about insurance now. I am 36 and I never realized until this happened to us how important insurance is. My partner is also a veteran but I can't get any benefits from that if she dies because we aren't recognized. I am the beneficiary of her life insurance policy that she has through work.
The problem is, she's going to have to go out on disability. We are lucky because she has short and long term disability through her job. What I am terrified of is that she will lose her health insurance and life insurance when she goes out on disability. Health insurance I know we can pick up through COBRA but if/when she passes away if we lose the life insurance I have no idea what I will do. My income can cover the basics but with nothing left over to buy food, gas, etc. My plan was to use the life insurance to suppliment until I can figure out what to do.
Her boss is supposed to be checking into it...but in the meantime it scares me. Now I am looking into my own benefits. Looks like I need to get insurance before I get sick myself with something or another. Diabetes runs in my family...so...time to get cracking. How horrible that we have to look at ourselves or life as a potential illness. Of course there is always that bad driver on the highway too....
LOL
This may help, I was on short term disablity and did not lose my employer paid insurance benefits. I would think that my life insurance would have also stayed the same. At least Im really hoping it would still be the same, I did check it when I returned to work and it was the same.
It really is scary to think about getting life insurance at such a young age. This gas taught me not to delay on these important things.
Ahh...good old life insurance. That's what I do and it is madness sometimes!!! Feel free to ask me any questions. I'm happy to help and explain if I can!!
My question is...How can anyone get married during Tax Season?
People can and do because we have people like you who look after the "numbers" for us!! lol