klmama Posted November 11, 2015 Share Posted November 11, 2015 I know several people with chronic illnesses, including diabetes, lupus, and depression. They have all commented to me at one point or another that they aren't able to get life insurance. That seems odd to me, since they are all doing very well with treatment and have been for many years. I'm wondering if it's that they can't afford life insurance or if it really isn't available to them. Do you know? Quote Link to comment Share on other sites More sharing options...
sbgrace Posted November 11, 2015 Share Posted November 11, 2015 There are actually life insurance agents who specialize in this area. There are companies open to certain dx's, and can pre-approve so a denial isn't on the record if it does happen. At least that was my experience. I can't speak to every diagnosis of course, and you might not get a preferred rate depending on the company and issue. Quote Link to comment Share on other sites More sharing options...
Acorn Posted November 11, 2015 Share Posted November 11, 2015 Some conditions are uninsurable, but for some you just need to find an accepting agent and pay more. Quote Link to comment Share on other sites More sharing options...
itsheresomewhere Posted November 11, 2015 Share Posted November 11, 2015 For DH- there are only a few that will offer him life insurance but the rates are about 3x the normal rate and are way out of most people's reach. Otherwise, most consider him uninsurable. Quote Link to comment Share on other sites More sharing options...
ScoutTN Posted November 11, 2015 Share Posted November 11, 2015 For DH- there are only a few that will offer him life insurance but the rates are about 3x the normal rate and are way out of most people's reach. Otherwise, most consider him uninsurable. This is true for my Dh too. Vascular malformations in his nervous system, brain surgery, on anti seizure meds. No life insurance for him. It is priced at more than 5x mine and completely out of our reach. As I am about to be 50, we actually cut back on mine some to add long term care insurance at a competitive rate. Quote Link to comment Share on other sites More sharing options...
Bootsie Posted November 11, 2015 Share Posted November 11, 2015 Sometimes some life insurance will be available through an employer's plan without any medical information if the insurance is purchased when the worker begins a new job. Some plans will also allow for other family members to be covered. These plans are often limited to several times a year's salary, but they can provide reasonably priced life insurance for those who are otherwise "uninsurable." 4 Quote Link to comment Share on other sites More sharing options...
Ottakee Posted November 11, 2015 Share Posted November 11, 2015 Often life insurance through your employer is the best bet. I barely squeaked through getting life insurance for myself as I had open heart surgery as a 3 year old to repair a hole in my heart. I have no limitations and take medications for anything right now. Still I am considered high risk. 1 Quote Link to comment Share on other sites More sharing options...
JumpyTheFrog Posted November 11, 2015 Share Posted November 11, 2015 I have no comment about people that are already uninsurable. I will say that it seems wise for people in their 20s to go ahead and get 30 year term insurance while rates are cheaper and before they develop anything new that might make them uninsurable. 3 Quote Link to comment Share on other sites More sharing options...
SparklyUnicorn Posted November 11, 2015 Share Posted November 11, 2015 There are policies, usually for smaller amounts, that will insure anyone. Basically the deal is you must live at least 2 years (or whatever the contract states). That is what my mother got. She literally lived to the day. It was enough to pay for burial expenses. 1 Quote Link to comment Share on other sites More sharing options...
Just Kate Posted November 11, 2015 Share Posted November 11, 2015 Often life insurance through your employer is the best bet. I barely squeaked through getting life insurance for myself as I had open heart surgery as a 3 year old to repair a hole in my heart. I have no limitations and take medications for anything right now. Still I am considered high risk. I had open heart surgery at age 4 and had a lot of trouble getting life insurance as well! I happened to work for an insurance company back when I got it and a lot of strings were pulled to make it happen. I have never been medicated nor have I had an issues since my surgery. Yet I am considered "uninsurable". Quote Link to comment Share on other sites More sharing options...
December Posted November 11, 2015 Share Posted November 11, 2015 You can get insurance that only covers accidental death...suppose that would be better than nothing. Quote Link to comment Share on other sites More sharing options...
mom2scouts Posted November 11, 2015 Share Posted November 11, 2015 Yes, I've been denied life insurance for health issues that no longer are a problem. Quote Link to comment Share on other sites More sharing options...
Hypatia. Posted November 11, 2015 Share Posted November 11, 2015 I have no comment about people that are already uninsurable. I will say that it seems wise for people in their 20s to go ahead and get 30 year term insurance while rates are cheaper and before they develop anything new that might make them uninsurable. Oh yes, definitely this! My life insurance rates were 2-3x higher than we initially thought they would be, because of my migraines & neuralgia. After DH was out of the military we went ahead and got me life insurance through our normal insurance company. Then, just over a year later, I had a massive pulmonary embolism. I can't imagine what my life insurance would cost now. Quote Link to comment Share on other sites More sharing options...
kroe1 Posted November 11, 2015 Share Posted November 11, 2015 At some point, when the risk of death becomes so high within a certain time frame, and the premium reflects that risk, life insurance really makes no sense. The person would be better off financially saving the equivalent of premium payments in a trust. 1 Quote Link to comment Share on other sites More sharing options...
QueenCat Posted November 11, 2015 Share Posted November 11, 2015 Often life insurance through your employer is the best bet. I barely squeaked through getting life insurance for myself as I had open heart surgery as a 3 year old to repair a hole in my heart. I have no limitations and take medications for anything right now. Still I am considered high risk. Which is great, unless your career requires you to change employers often. Then you often gaps. Which are scary, at least for me. Quote Link to comment Share on other sites More sharing options...
shawthorne44 Posted November 11, 2015 Share Posted November 11, 2015 The voluntary part of the life insurance can usually be paid directly when you aren't with that employer anymore. Quote Link to comment Share on other sites More sharing options...
BooksandBoys Posted November 11, 2015 Share Posted November 11, 2015 My DH has a genetic form of diabetes that has very minimal effects on long-term health, but because the insurance companies don't have a code for it, they end up calling it Type I or Type II Diabetes and elevate his rate quotes to astronomical degrees. We've never been able to afford life insurance for him other than through his employer due to this. In retrospect, we should have figured something out ten years ago and established a 30 year policy then, even though we didn't have any money. As our income increases (slightly), he gets older and even more expensive to insure, so the premiums continue to be out of reach. We could now afford what we were quoted then, but we can't swing what we're quoted today. It's frustrating, but live and learn. We plan to help our kids buy term insurance when they are young adults because at least two of them have the same diagnosis as DH (if they need help, of course). Quote Link to comment Share on other sites More sharing options...
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