ALS and Money

tkenny · 07-06-2007, 01:30 PM

I hope this question isn't getting to personal but I really don't know of a different way to get this information.

I am currently undiagnosed but it's really looking more and more like ALS (not like I'm a dr. but it's a gut feeling).

I'd like to ask the PALS a few question about money. Were you well off when you were diagnosed? What did you do for work and money after the diagnosis? How long are you able to work for? I know every case is different but...

I make fantastic money right now (100k +) but I"m afraid that very soon I won't be able to work anymore if this is indeed ALS. I'm only 35 so we havn't accumulated a large enough nest egg to sustain us so I'm at a loss as to what to do. If my wife is supposed to take care of me full time and she can't work what are we to do after that? There must be government (canada) based subsidies for people with conditions such as this right?

Any tips or help would be greatly appreciated and if it's too personal, please don't answer.

Jamiet · 07-06-2007, 02:48 PM

tkenny,

before you do anything else, get you some life insurance and disability insurance. You will likely still qualify.

quadbliss · 07-06-2007, 03:52 PM

Where do you live?

Mike

tkenny · 07-06-2007, 04:05 PM

I already have adequate life insurance. 1 mil + our union plan. She will be well looked after after I'm gone.

The long term disablility portion of our plan at work leaves much to be desired. I believe it's only 2000 / month.

It's the portion of time between work and the inevitable which is worrying me also.

I'm from Alberta Canada quadbliss.

quadbliss · 07-06-2007, 04:17 PM

I am not familiar with how things work in Canada, but in the US you can usually get almost 50 percent of your life insurance benefit paid out in advance if you have a terminal illness. This feature is not something they advertise. You have to ask about it.

Mike

CindyM · 07-07-2007, 03:43 PM

Excellent information, Mike. I am increasing my life insurance first thing Monday morning! Cindy

Frizzel · 07-07-2007, 11:54 PM

We did not get our disability or long term life insurance before the diagnosis and now there is NO way I can get any.

The insurance representative came out and told us if you even have a three pronged cane in sight you will disqualify. So get every help aide out of the house temperarily. He even said they'll ask to go to the rest room while in your home to see if you have aides in your home.

My husband got his now and increased his life insurance so our kids won't be burdened down if something happens to him. We almost have everything in order. Living Trust. disability insurance, 5 Wishes for the end of life, (You can look it up on the net) and long term care. Whew! Who would have thought...

Now we are getting on with life. I feel better knowing everything is ready to go EXCEPT for me of course. ha!

Frizzel

Al · 07-08-2007, 03:33 PM

Hi tkenny. There is Canada Disability Insurance. It's in the $800 to $900 range. Not a lot but it halps if you have other pension income. I retired and was diagnosed 5 months later. An ALS diagnosis gets you the pension pretty quick. If you google Can. Disability it should get you to the gov't site.
AL.

Wes_E · 07-08-2007, 04:53 PM

Quote:

Originally Posted by quadbliss

I am not familiar with how things work in Canada, but in the US you can usually get almost 50 percent of your life insurance benefit paid out in advance if you have a terminal illness. This feature is not something they advertise. You have to ask about it.

Mike

Mike,

Are you positive about getting up to 50% of your life insurance policy? I am about to be "retired" and have a meeting with the HR people before going out on sick leave and then long term disability.

Thanks
Wes

Jamiet · 07-08-2007, 06:22 PM

Wes,

most policies have that clause. Also, when you are forced to disability, your life insurance should automatically convert to you personally, wiht no premium due. In my policy, it's a terminal disease or 6 mos.

rgds,

jamie

Peg B · 07-08-2007, 08:14 PM

Hi,

I know you are asking about disability, but my first thought was you or your wife might want to keep working for as long as you can. There are many ways to do this with assistive technology, some of which has been talked about on this forum. If that is an issue for you and depending on how you are impacted there are a number of tools and adaptations available for little or nothing. If that is also part of your question please let me know. Assistive technology was a big part of my work before I went on LTD and retirement. Best Wishes, Peg

beaner1 · 07-09-2007, 05:03 PM

Hi tkenny,
I'm from Alberta too, and my husband was diagnosed 1 1/2 yrs. ago at 45 yrs. His disability isn't great either, so I know what you mean! You should also qualify for CPP - my husband receives a combination of both - still not much, and thank goodness I still have my job, or I don't know what we'd have done. As far as your wife working - I have to. It's a tough row to hoe - I'm fortunate that my kids (19 & 22 yrs.) are still at home (still going to school), and they help out lots with caring for my husband. There are resources out there for help in the home - each health region in Alberta has funding for home care, and if you have private insurance through work, you should receive some dollars there too. Talk to the ALS society - they can help with resources too - not sure whereabouts in AB you are - hopefully close to Calgary or Edmonton - not too much available from the society in smaller centres.

I hope you don't have ALS, but if you do, and you'd like to talk you can pm anytime. It's very overwhelming - what one goes through. Try to stay strong.
Beaner