Life Insurance

Jonathan - 13553
By Jonathan - 13553 Latest Reply 2016-12-14 10:05:31 -0600
Started 2008-03-13 07:20:14 -0500

There is a lot of discussion on many sites about health insurance and the difficulties of dealing with health insurers.
I'm interested in knowing what other PWDs do about life insurance. I get some life insurance through work, but have had great difficulty obtaining additional life insurance, either being told that I am uninsurable or am only insurable at an enormous premium.
Anyone have any similar experiences?

18 replies

azmisty 2008-07-11 20:20:17 -0500 Report

Don't know how valid it is because how much can you trust a TV commercial…but Colonial Penn is always promoting their life insurrance with no physical and it sounds pretty resonably priced.

Hope you have luck in finding something, especially if you have a family to protect.


easytofind 2008-06-27 20:08:07 -0500 Report

This is about affordable life insurance. I have Type II diabetes with arthritis and I was able to pick up $15,000 of whole life. It cost was in the low $60.00's. Just last week I was told I could change to term insurance and get a policy of $115,000, and it would cost me about $74.00 a month. This is through State Farm Insurance Co. I'm still thinking about the change. I can't borrow on term insurance like I can with whole life.

John J - 17628
John J - 17628 2008-06-18 03:55:28 -0500 Report

Amen. I've been a Type 1 diabetic for 16 years now and am finding it impossible to get life insurance coverage. I have the bare minimum coverage thru my employer (which doesn't require an exam), but if I wanted more I'd need full medical exam, which would show some microalbuminuria. Come on! I've been diabetic for 16 years. There's bound to be some effects, right!?! I've already been denied by one company, and the other thru which I've had a universal policy since birth won't allow me to increase my coverage level because of my diabetes.
I'm at a loss and need help. I want to be confident that if something were to happen to me, I don' leave my wife and family in shambles.

Jonathan - 13553
Jonathan - 13553 2008-06-18 05:28:41 -0500 Report

John: Do you have a good insurance agent? I had similar problems getting a life policy, but was referred to a good agent who worked really hard to get me a policy. I will not say that the policy is cheap — annual premium is 1.5% of the coverage — but at least I have it. If you do not have an agent, you may be able to ask your HR department at work for a suggestion.
It is difficult to insure us, but, the truth of the matter is that we are probably healthier than the average skydiving smoker because we take better care of ourselves and are more attuned to our bodies and our health.
Good luck! And, if you can find a policy, let the community know. There are obviously many of us who could use a decent policy.
P.S. One last thing — if you ever leave your current job, look to see whether you can take your policy with you — convert the group policy from work to a personal policy. I've done it twice, and it is a pretty good way to increase insurance and a relatively low cost.

jupton1 2008-06-19 04:54:59 -0500 Report

Im getting life insurance trew my health insurance Humana..It was realy easy,it did cost me a bit more because Im type2..John

Brian9549 2008-06-19 06:53:39 -0500 Report

I have had life insurance for a few years now and the premiums keep going up. I have been diabetic for almost 20 years and never thought about it until lately.

My wife and I got policies at the same time and her coverage is 10Xs mine at 1/10th the price!

Sean Kelley
Sean Kelley 2008-06-09 11:31:07 -0500 Report

Mercifully, I also get some insurance through work. My wife and I think that's enough, even though we have two small children. Along with our retirement funds, if I die, my wife should be okay. She'll have to work, but she won't have a house payment. The kids will have enough (with additional support) to pay for college, and my wife won't have to tap into our retirement funds.

It's never enough, but for us, it's a generous benefit. I haven't been able to get affordable insurance on the open market without jumping through so many hoops as to make it discouraging.

Ginetteb 2008-06-11 06:01:44 -0500 Report

I feel very lucky. I was diagnosed with diabetes a good 10 years before I retired and my life insurance (entirely paid by the company I worked for) is still in effect and the beautiful part is that I have no premium to pay at all. It is entirely provided by the company. If I should die tomorrow, there is not enough to pay the house off, but there's more than enough to bury me (or cremate me) with some left over to help with the mortgage and the usual expenses. Another blessing is that I had always carried a life insurance policy for my husband through my work and when I retired, although my husband did not fit in the "group" anymore, they could not refuse to insure him. I have to pay a small premium ($100 per month) but hey, he's insured. Not for much, but enough to pay for the expenses incurred when you die. I feel lucky in that respect as well because my husband has had 2 cancers, so you know that insuring him is next to impossible.
I also have my health insurance through my employer. The premium is heavier than I would like, but I have insurance.
I wish the US would step up to par with health benefits. I come from a country that has social medicine and it's wonderful. It doesn't matter if you're rich or poor, you get to see a doctor and be hospitalized, without losing your house and all your savings.

kjb08807 2008-06-09 07:56:41 -0500 Report

As "they", the insurance industry, don't want to provide us with their products, I say "up them, and the little dog they rode in on…". Put the money in an account in the names of the beneficiaries, and put in what anyone else would pay for insurance. It's true it wouldn't pay out as well as the shared pool of an insurance scheme (scam), but the money is there, and there is some peace of mind in knowing that you will have something for your family to fall back on. Also, if everryone starts to boycot the insurance industry, they are bound to wake up and take notice. As with all things, your insurance industry is governed by laws, so call your congress-critters and give'em hell.

Anonymous 2008-06-09 07:47:39 -0500 Report

I have had several cancel on me once they found out that I had Diabetes, Asthema, RA, Hypertension, and a slew of other conditions. Of course, once you lose one, all the others play dogpile-on-the-rabbit. I lost health care coverage, when I was unable to keep working my second job. If I pass on, I don't even have a benefit to plant my bones in a hole in the ground. My friends all have been instructed to send me off in a viking style funral pyre, so that's the plan for the time being.

BrookeT 2008-05-04 16:12:50 -0500 Report

My husband and I are both uninsurable and have been refused all life insurance so all we have is thru our work. As a result I got life insurance for our 3 kids within 24 hours of their birth. My oldest is now a diabetic and has life insurance for life, it was one of the best decisions I have ever made.

diabetchik 2008-03-24 14:45:55 -0500 Report

I've been a Type 1 for almost 28 years and my parent's looked into a life insurance policy for me when I was younger… anticipating that it would be difficult for me to get my own policy. They were right! My dad actually had to join the "Knights of Columbus" to get an insurance policy for me before I turned 18!!! He did a lot for me!

I have life insurance still through them and through my work, but other than that, I'd think having supplemental life insurance would be very pricey (not counting in all the money we have to spend for our day to day care, but don't get me started!!!!)

CALpumper 2008-03-13 14:45:54 -0500 Report

Unfortunately any type of insurance related to a chronic illness is very tough to "afford". The term they use is liability. Because we already are a major health concern, we cost them money.
It is sad that our country has come to this point. I am Type 1, have a great job but work only 25 hours a week. I have been denied Medicaid for my needs (insulin to sustain life does not seem to matter). The other options in my state I do not qualify for (make too much money) or are too expensive for me based on my hours or do not have the benefits I need. And trying to get a hold of someone at an insurance company or even an insurance broker to discuss an individual plan has been just as disheartening.

We should never be "labeled" risky or liable. It drives me to anger but at least after all these years I have turned that into a passion for advocating, this being at the top of my list.

NyxWulf 2008-03-13 09:19:35 -0500 Report

I'm really interested to find out about this myself. I have recently been diagnosed with Type II diabetes, and I've been wanting to get some life insurance.

Jonathan - 13553
Jonathan - 13553 2008-03-13 12:24:28 -0500 Report

I had a really great agent who was able to push me through a couple of years ago, but the best he was able to get me was a policy with a premium of 1.5% per year. My spouse, without diabetes, was able to get a policy for a premium less than 0.1% per year. I know we are more risky, but, still, there has to be a way for us to provide for our families.

NyxWulf 2008-03-13 13:46:36 -0500 Report

Yeah that's a little disheartening. I didn't realize it was such a big issue for life insurance.

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