Life Insurance

[juxtapoze]

I'm trying to find the right life insurance for myself and am looking for a site that offers free insurance quotes- maybe something like a life insurance directory. Someone referred me to weremember.com but i wanted to know of other sites too?

 

[brooksea]

If you have or are in the process of being diagnosed with ALS, you will not be able to get life insurance the "honest" way. If you do get a policy and you die they could trace back your medical records for diagnosed information and deny the claim.

Someone correct me if I'm wrong.

 

[Zaphoon]

If you are still able to work, a some group policies don't ask medical questions but only offer a small amount of coverage (up to $100,000.00) usually. Its not much but better than nothing. I see you already have a diagnosed date. Coverage is probably going to be hard to come by or very expensive for a small amount.

Life insurance companies have access to the main medical data base that hospitals, doctors and clinics report to. You can't (and I wouldn't advise) hide any of your documented, medical history from life insurance companies. If they find errors on the application (nice way of putting something other than the truth), they can and will deny any future claims in a heart beat.

Zaphoon
(former term insurance agent)

 

[GlenBrittle]

Unfortunately , if you are working and have life insurance at work (mine is double my salary to a maximum level) , that is the only good life insurance you will get.

Yes , there are lots of companies willing to take your money now , and wait to say "Sorry , you had pre-existing sickness before the policy - DENIED" to the beneficiary.

Unless you can find a policy , that in writing , does not worry about this , keep your money.

Yep , I only have what I have got at work.

Glen

 

[Moonmark]

Hello,

this life insurance topic is of interest to me and I wonder what you all think. Those who read my previous posts might remember (or not!) that I underwent tests for progressive muscle weakness, twitching, pain, and mild atrophy of the hands, wrists, and forearms. I still do not know what is wrong with me, but had a clean EMG in June on both legs and one arm and was told at that time by a neurologist specializing in neuromuscular disease that he does not believe I have ALS at this time. He said he could not completely rule out a neuro disorder of some kind (did not speculate what it might be), however, and will follow up with me if symptoms significantly worsen or in six months time from my last visit. I think I should probably get a second opinion, but I want a little more time to pass to see if the picture becomes clearer. I am also not sure where I should go for second opinion. I was seen at a teaching hospital for Tufts University in Springfield, Mass. it is certified by the MDA/ALS division. Boston, Mass, is the nearest big city to me.

My symptoms continue: the twitching is mostly happening around my mouth now (was localized to one side, but now has spread to the other side) and I have had some worsening of weakness/stiffness in my hips and right shoulder. My left hand also is starting to look slightly misshapen, I think from the atrophy, but I am able to use it fine, although I have weakness in certain motions of the fingers, hands, and arms (lifting, opening candy bar wrappers, stuff like that) and pulling. It has remained at about the same level over the past couple months. I also seem to be slightly "injuring" myself more easily: I was using a nutcracker to break a lobster claw the other day and for two days afterwards, two of my fingers were in a lot of pain and were hard to bend. then I went for a bike ride and had a lot of pain in my ankle and foot the next day. stuff like that.

anyway, do you think I could still get life insurance? I have a 2 and a half year old daughter and I work for myself from home. I do not have any kind of diagnosis and the neuro (at a university hospital) stated he did not think I have ALS. part of me still fears that I may end up with this or another similar diagnosis because of my symptoms and the time it can take to pinpoint the cause. I guess that's another post. but what I would really like to know is if you think I could still get life insurance. I would not be hiding anything, as I was not told I have any kind of disease. just looking for input.

thanks---

Sandra

 

[GlenBrittle]

Sandra,

You have an interesting case. I would actually ask a lawyer that question and for advice.

Glen

 

[BarryG]

Sandra, if you can afford the premiums you should have insurance. While it is true that they may refuse to pay the claim based on an existing condition, they may not. Read the application form very carefully and take note of what preexisting conditions that they list. And my insurance agent told me that even if they do refuse to pay they will usually refund the premiums paid (may or may not be the case where you are or with all insurance companies).

Life insurance is ALWAYS a good idea when you have children because even if ALS doesn't get you there a lots of other things that can.

Like Glen said, you should ask a lawyer about it though.

 

[BethU]

Are there any groups you can join related to your businss that offer it? I know artists in California were trying to join together to get group rates on health insurance.

If you want to compare a lot of different policies, call a general insurance agency that carries a variety of companies and plans and ask for a consultation and some free quotes. They will level with you about your chances of getting insured, and will work to "sell" you as an insured to one of their representative companies. They might be able to bundle your policies ... home, car, etc ... and get something going. If you own your home, you might be able to get a pay-off-the-mortgage policy at least.

The important thing is to level with them. Don't overdramatize it, but do report that you are being tested right now.

Good luck!

 

[Zaphoon]

When you go to fill out the application for life insurance, there are medical questions that must be ansered. Here are some samples:

- In the past 10 years has any person named in this application:

a. had a stroke, diabetes, high blood pressure, cancer, tunor, paralysis, multiple sclerosis, lupus, scleroderma, rheumatoid arthritis, muscular distrophy, leukemia, Hodgkin's Disease, seizure; or mental or nervous disorder?

b. Been treated for or advised by a member of the medical profession of any disease or disorder of the heart, liver, pancreas, blood, brain, kidneys; or circulatory, respiratory, gastrointestinal, neurological or nervous system?

c. Been positively diagnosed or treated by a member of the medical profession for Acquired Immune Deficiency Syndrome (AIDS) or immune deficiency related disorders or tested positive for Human Immumodeficiency Virus?"

There are a few more questions about alchohol related citations, history of tobacco use, hospital stays, etc. but this pretty well covered our area with the questions in the quotes above. These questions were taken from an actual life insurance app.

A smoker will pay dearly for his/her habit in premiums so you can imagine the difficulty a person with ALS would have. However, the agent is not the underwriter and must forward all applications to his home office. Also, lets say for instance you answered "No" to tobacco use but while filling out the app, the agent notices a pack of smokes on the table, a lighter in your pocket and smoke on your breath. He is free to and encouraged to note this on the application. (These notes are added after he leaves your company, of course.)

As I've stated before, I was formerly licensed to sell all sorts of life policies but only sold term.

Hope this helps!

Zaphoon

 

[hopingforcure]

Kim,
what if you do not have a diagnosed. I thought I had something else, esophageal spams, when I got my insurance, gave me the reason to get term, well low and behold that was the least of my problems. Got the insurance, and I also thought after a cetain amont of time it was incontestable.. Help...

 

[Zaphoon]

You are not responsible for differences in outcome. Let's say you go in because you suspect one thing but the doctors prove another. In the interim, you apply for life insurance with no way of knowing you will be diagnosed with something other than what you had suspected. Not your fault you were wrong in your assumption.

As far as the statute of limitations, the only answer I can give is that if no fraud is proven on the application, its a moot point.

I wouldn't worry in your case. You had no way of knowing you were going to wind up with your current diagnosis. Your visit with the doctor would probably be noted something like this in your records:

"Patient is a 53yo (my age) male complaining of esophogeal spasms. We will run a battery of tests to determine cause and treat as necessary."

No mention of ALS for this visit. I hope this helps.

Kim

 

[joelc]

I agree with Zaph. I also sold life insurance for awhile. The way it works in Canada is that if they find out you suspected something and were seeing a doctor in hopes of finding out what was wrong with you, they will not pay the policy. Most companies also have a 1 year disclaimer, meaning if something happened and you sought a medical opinion within 1 year of activating a policy they would not pay.Please be careful. It could result in a lot of heart ache.

 

[hopingforcure]

Yep you guys are correct. Boy was I wrong when I thought my gall bladder being removed for these spasms was a big deal. I agree I did not even know that my symptoms woul ever even turn neurological. The good news for me is it made me finally think about life insurance. I gladly disclosed everything I new. I guess sometimes you get blessings in that you think are problems. I intend to outlive my policy anyway. Thanks for the advice guys. LIke you guys said just be honest and you never know.

 

[Moonmark]

Hi, thanks for the great advice, all. I think I will seek out the counsel of a lawyer before signing anything. I would hate to put money into life insurance, only to find out that my beneficiaries will not get anything. I do have a small policy that I converted from group to whole when I left my previous employer after the birth of my daughter. but it would not be enough to see her through her life, that's for sure.

anyway, hoping I won't be diagnosed with anything fatal, but it sure seems like something is seriously wrong and not going away.


thanks--

Sandra