Life Insurance

[Irish86]

Went for Life Insurance and was told with Crohn's if control $170 a month if not a lot more than that. Up to $5000 a year. Any advice or help with this. Need it for family

 

[DJW]

Is that term or whole life (not sure if those are the correct terms).

 

[Ihurt]

Usually term insurance plans can be cheaper, but they are term which is they usually only last 20 to 30 years. They are good because it is more affordable, but they are bad because after the term is up, well, you are without life insurance again and it will be even harder for you to get it at a good price at that point.

I got a life insurance plan about 5 years back and I had already lots of health issues. Nothing that was considered deadly. After speaking to the agent who was helping me, she got me a whole life plan. Mind you, I was only able to get a 25,000 plan, as that is all we could afford and it was not cheap. She said they labeled me a 13. I asked what that meant, and she said it means you are at the highest risk. My husband said what do they know about my health that we don't know??Lol!!!

Anyone who is dealing with a chronic illness is going to have a hard time getting very affordable life insurance unfortunately. It is not fair at all. But you know how the insurance companies are, they don't want any liabilities as horrible as that sounds.

 

[Irish86]

Usually term insurance plans can be cheaper, but they are term which is they usually only last 20 to 30 years. They are good because it is more affordable, but they are bad because after the term is up, well, you are without life insurance again and it will be even harder for you to get it at a good price at that point.

I got a life insurance plan about 5 years back and I had already lots of health issues. Nothing that was considered deadly. After speaking to the agent who was helping me, she got me a whole life plan. Mind you, I was only able to get a 25,000 plan, as that is all we could afford and it was not cheap. She said they labeled me a 13. I asked what that meant, and she said it means you are at the highest risk. My husband said what do they know about my health that we don't know??Lol!!!

Anyone who is dealing with a chronic illness is going to have a hard time getting very affordable life insurance unfortunately. It is not fair at all. But you know how the insurance companies are, they don't want any liabilities as horrible as that sounds.

there saying anywhere from $1500 to 5000 a year iic have will go to something just pays funerals bills

 

[Ihurt]

Well if it is $1500 a year that would be about $125 per month. Now $5000 a year would be just insane to pay for a life insurance plan. I guess maybe keep searching insurance companies and see if you can get a lower rate somewhere else. It sucks being sick!

there saying anywhere from $1500 to 5000 a year iic have will go to something just pays funerals bills

 

[shamrock15]

You are lucky - up here I was told that I was un-insurable and this is even with my crohn's in remission.
If the payout is only for funeral bills, don't do it. Save your own money and earn at least a little interest from it.

 

[Lisa]

Look at what the premiums would be for the coverage you are looking at for the life or term of the policy- it may make more sense to take that premium and put it away each month in a savings or other plan and like shamrock said earn some interest on it.

 

[alex_chris]

As a Crohn's patient in Germany, even though I have been in remission for years, I am uninsurable for any private healthcare companies, for any life insurance, for any private accident insurance etc.

The only thing I could get (after jumping through a few loops) was public health insurance.

 

[idlebrain]

@Irish86:
What is the term and what is the coverage for ~$170 a month?
It can be a little tough getting affordable life insurance with Crohns. I was able to get one from Prudential for about ~$100 a month (20 year and $500k). My wife was able to get something similar for ~$50 a month. Unfortunately, the insurance companies have min. awareness about Crohns. They seem to go by a standard template.

I suggest looking up online for a reputed live agent and talking to him/her in person. The way they write an application makes a difference as well. Hope this helps.

 

[lenny]

We had term life on me when the kids were small because even though I didn't earn an income, had I died, a nanny would have been needed and it was dirt cheap because I was so young. It ran out a few years ago, when our youngest was about 14. Because I smoke Marijuana, they now consider me a tobacco user and were going to charge $125 a month instead of $25 to renew, so we didn't renew. As husband has gotten closer to retirement, we've cut his coverage way back because it's so much cheaper and we have savings, now.
So we're becoming more self-insured, basically.

Life insurance is for those you leave behind, so you only need it if/while people are dependent on you. Suze Ormon recommends term life, I believe.

 

[AJC - Australia]

i wonder…in australia, if you have super annuation - maybe that company that does the super would do life insurance? I looked into it recently for myself, as i was worried i was going to cark it, but no one would insure me and i dont have super.

good luck…and another battle for the crohnies.

 

[afidz]

Shop around too, every life insurance company is different. I was going to get a 60k policy for something like $23 a month. (MassMutual, if you are interested in checking them out) I was denied the policy, but not because of Crohn's. But 170 seems like a lot!

 

[stella_luna]

Look into AAA . . . I have a $300K policy that only costs me $250/year. And I have Crohn's (two surgeries so far) and hypertension.