What insurance do you wish you had gotten BEFORE your diagnosis?

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JenifferG

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I decided to post this in the “could this be als” area because I have a very dear friend that is facing a possible diagnosis. He has young children and is understandably worried about what this would do to their family financially and who would care for him, as all his remaining family is elderly.

He has a clean MRI and normal bloodwork but an:
abnormal EMG,
fatigue,
weight loss,
loss of strength (could not lift a 5 pound weight out to his side without shaking)
and muscle twitches in his right limbs and abdomen.

His neurologist neurologist didn’t say anything about ALS and wants to see him back in a few months and I think in the meantime he should grab up any life insurance/ long term care insurance he can before he gets a diagnosis of anything. What type of insurance do you wish you had had in place prior to your diagnosis? Is there anything that I should point him towards? What can he do so that he is best prepared financially in case of a diagnosis?

Your advice is greatly appreciated!
 

lgelb

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I am sorry to hear about your friend. If his EMG suggested ALS, I cannot think why he would be put off for a few months or that there wouldn't be a hint. Did he ask straight up? If you could post the full report without a name, we could be more helpful.

As for insurance, there is a "prudent person" standard and the ship has sailed in most cases since he has sought medical advice for these symptoms. He can look for "guaranteed underwriting" (AAA and that kind of thing, likewise trade associations, unions and professional groups) without health questions, but that as you can imagine tends to be pricey. If he can ramp up his policies at work (long-term disability, life) without having to disclose anything, that would be ideal. However, I believe most open enrollment periods are in the fall.

He's lucky to have you as a friend.

Best,
Laurie
 

JenifferG

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Oh gosh, I don’t have access to any of his reports, I’m not even sure he does — the doctor gave him the results over the phone.
 

lgelb

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He has the right to ask for them, and if desired, he can designate you under HIPAA as someone that can receive health records on his behalf. If they are in print, you can snap a photo. Many health centers have an online portal you can view/download from.
 

Vincent

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What he is looking for is Critical Illness Insurance. This type of policy pays out when you are diagnosed with a whole list of life altering conditions. Things like Heart Attack, cancer, stroke, ALS or the like. This is usually a lump sum payment for whatever amount is agreed to. This can be used for everything from US hospital bills, renovations. replace lost income or go on a cruise. Use it as you wish. They may have some sort of rider that says they won't pay on anything you were previously having looked at.
Vincent
 

Bestfriends14

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Best thing is to have him speak to an insurance specialist ASAP and get all his ducks in a row, should he be diagnosed. Depending on his age, how many dependents he has, and if he has long-term disability through his work, will depend on what he needs.

Years before my husband was diagnosed, he signed himself up for life insurance, long term disability insurance, and critical illness insurance. So, because of signing up for these insurance products, his life insurance is two times his salary, he got paid a lump sum of critical illness insurance, and he has his full salary for the rest of his life.

I cannot stress enough that this discussion needs to be had with an insurance specialist. You can get opinions from the forum, but we don't know how many dependents he has, if he has a mortgage, if he has credit card debt, if he has medical insurance, and if his kids want to go to university in the future. He needs to go and fill out a comprehensive financial balance sheet and insurance needs analysis with a professional, and they will assess what type of insurance will suit him and his family best. This needs to be done ASAP
 

JenifferG

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Thank you very much for the info!
 
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