Life Insurance issues


(kbuckleync) #1

Anyone ever had any luck finding a reasonably priced life insurance policy (outside of the ones offered by your employer)?

I've met with an insurance agent a few times in the past 10+ years and have never found one that would cover me for less than $325+ per month.  Of course that amount is outrageous and totally unaffordable (at least for me), so the only life insurance I have is a policy that one of my credit card companies offered at one point.  I didn't have to submit any health information when I signed up for it.  It's only for $50,000 though and since I have a small child I'd like to have more.  I don't know how my husband would manage if anything ever happened to me.

Has anyone ever had any luck finding decent coverage for an affordable price?  If so, I'd love to have the details.


(meme) #2

Hi,I have watched this question ,wondering what others did about life insurance.If you have children you know it takes money to raise them. Years ago we got life insurance,and as we age it goes up and I do mean up...If you do find something you feel is good ,lock it in for as many years possible.Most people hold on to their policy till the kids are grown ,out of college.I think it is a wise choice to look around for something.Having a small child,you just feel better having a little coverage.


(kbuckleync) #3

I do have one tiny ($1,000) policy that my parents took out on me right when they found out I was diabetic (way back in 1980).  And I've kept it over the years, for fear that I might not be able to find anything else.  It's only about $8/year, so it seemed worth it.  Problem is, by the time I die, this'll probably still be the only policy I have.  Definitely not enough to bury me with, that's for sure.


(jaco1199) #4

Kristen-

Unfortunately like you I've tried to get more coverage and to no avail.  The only thing I have going for me is that when I was younger my parents purchased a whole life policy that automatically offers an increase in coverage every few years (once every five years, I think) and the offer is in different amounts each time but I'm not required to take a physical!!!  It was very forward thinking of my parents and I didn't truly appreciate it until I had my son.  So in return I have taken out a whole life insurance policy for my son (who is 7 years old and healthy at this point in his life).  But his health can change at any given moment (like we've all learned) and I know the difficulties in getting a policy once diagnosed.   

Jane


(orange_mms) #5

I have 1 policy that's $26,000, purchased after I was diagnosed (1983), by my Grandma. A few years ago I had the ownership transfered to me, it costs $13/month.  The company is Colonial Life. I keep thinking I need more coverage also but I know there are many limitations for any type of insurance for diabetics. Hopefully something will come up that could help all of us out !!


(NatalieHelberg) #6

I cannot find a life insurance policy that will cover me either.

I have one through my employer but it wouldn't pay for my young daughter to attend college even.

I tried getting a supplemental increase to the one through my employer and they wanted to charge me several hundred dollars extra a month.

Because of the diabetes no one wants to cover me.

As a matter of fact I had an impossible time getting health coverage before the job I have now. I went to work for a big company it was the only way I could get coverage. I spent about 5 years with no health coverage. Talk about trying to control your diabetes with no insurance.

Anyway, if anyone knows of a good AFFORDABLE life insurance policy I too would be interested.


(kbuckleync) #7

Do you know if Grandma had to provide health info when she purchased the policy?  I'm thinking that $26k is better than nothing at this point.  At least my husband would be able to bury me and pay for daycare for our son with that.  At least for a little while.  Not that I'm planning on dying anytime soon....but ya never know.


(orange_mms) #8

Honestly I can't answer if she needed any particular info., I will try to find out.  I was 5 yrs. old at the time and had an ear disease plus diabetes. 

 


(orange_mms) #9

I just asked my mom if my Gram needed any paperwork to state that I was diabetic and she said she isn't sure. Sorry I couldn't help.