by karenanneschmidt » Wed Dec 31, 2008 07:11 pm
Hi [ I'm looking for information bout life insurance. I'm only 37 (born 9/12/71), but I have health issues. I have Rheumatoid Arthritis, and several other medical problems. Due to medication (Prednisone), I am also overweight and have prednisone-induced diabetes. While I am disabled (my primary income is from Social Security Disability & payments from a private LT disability policy), I'm told it shouldn't really impact my life-expectancy.
I'd like to know if I'm eligible for a policy, and if so - what type of policy woud you recommend and what is the approximate cost. Please let me know if you need more information
Thanks - Karen
I'd like to know if I'm eligible for a policy, and if so - what type of policy woud you recommend and what is the approximate cost. Please let me know if you need more information
Thanks - Karen
Posted: Thu Jan 01, 2009 12:14 am Post Subject: Life Insurance Information
Being on social security disability is an automatic decline with most carriers if not all. You may be able to get a guaranteed issue policy which everyone qualifies for. I'll find out on Monday and post my findings.
Posted: Thu Jan 01, 2009 02:23 pm Post Subject:
I'll find out on Monday and post my findings.
Thank you Victor! Awesome contribution! I'm sure our OP will be very appreciative..Posted: Fri Jan 02, 2009 03:16 am Post Subject: insurance
Ok......if someone is on SSDI, why would they be declined, on something they probably need, probably even more, than someone else?
Posted: Fri Jan 02, 2009 03:32 am Post Subject:
SD,
Why can't we wait until we get sick and then get health insurance. Or wait until we get in a car accident and then take out auto insurance? If inurance companies allowed this do you think they would still be in business today?
Posted: Fri Jan 02, 2009 03:40 am Post Subject: insurance
I guess I haven't looked at it THAT way.............I see your point. If you sick and THEN try to get Health Insurance ( or Life, I'm sure), then it would be more of a High Risk' factor involved. I get your point.
Posted: Fri Jan 02, 2009 05:49 am Post Subject:
That would make sense to me, why not take the insurance out when you are healthy, the insurance company is a business and taking out a policy for someone who is apparently disabled in some way would not be very smart on the financial end of the business, think about the risk of them filing a claim, probably going to happen sooner or later. So as a business it would not be a wise decision.
Posted: Fri Jan 02, 2009 01:49 pm Post Subject:
If inurance companies allowed this do you think they would still be in business today?
They are not here to pay you out of their own pocket!
They would hold placards against you - "No Charity"
Remember, they are paying you out of their accumulated capital. This capital gets accumulated through the premiums that we pay them. Its just that they are playing on our chances associated with meeting unforeseen risks.
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