Home

Life insurance with pre existing condition

 
Post new topic   Reply to topic    Forum -> Household Management -> Finances

View latest: 24h 48h 72h


amother




Amber


Post  Wed, Mar 20 2019, 11:13 pm
Please help me figure this out...

DH has a million dollar 20 year life insurance policy which we figured we’d renew when it expires. It expires in a couple of years and he will be in his early forties so we thought it was a reasonable plan.

He was recently diagnosed with something that’s makes the chance of him being able to renew his policy at an affordable plan, slim to none. Hashem runs the world and obviously DH can have a long life but... it’s unlikely and I am absolutely terrified at the thought of him dying in 5-10 years from now, leaving me with a bunch of young kids and no life insurance policy...

I welcome any ideas/advice.

Thanks
Back to top

ROFL




 
 
 


Post  Wed, Mar 20 2019, 11:28 pm
Can you get term insurance without medical checkup ?
Back to top

amother




Rose


Post  Thu, Mar 21 2019, 12:01 am
Many term policies have a conversion clause that allow you to convert the policy to a permanent type of policy without going through underwriting again - you should look into that. Call a reputable insurance broker...
Back to top

ellacoe




 
 
 


Post  Thu, Mar 21 2019, 2:28 am
I have a broker who I refer to who has been very good at getting difficult situations covered. Feel free to PM me for info
Back to top

Squishy




 
 
 


Post  Thu, Mar 21 2019, 7:29 am
He could join a group that offers term insurance for its members. It probably won't be the amount you are hoping for, but the phrasing is guaranteed term - you won't be turned down. I joined such a group to get my health insurance discounted.
Back to top

amother




Burlywood


Post  Thu, Mar 21 2019, 9:37 am
OP - have you looked at the policy documents? Some are renewable without medical.
Back to top

ra_mom




 
 
 


Post  Thu, Mar 21 2019, 12:34 pm
amother wrote:
Many term policies have a conversion clause that allow you to convert the policy to a permanent type of policy without going through underwriting again - you should look into that. Call a reputable insurance broker...

This is the way to go. Speak to your current agent about your policy. You need your current policy renewed, don't try to get a new policy.
Back to top

amother




Amber


Post  Thu, Mar 21 2019, 1:14 pm
ra_mom wrote:
This is the way to go. Speak to your current agent about your policy. You need your current policy renewed, don't try to get a new policy.


Spoke to my agent and he said we can’t renew it. He says our only option would be getting a whole life policy. But the premiums on that is prohibitive 😢
Back to top

ra_mom




 
 
 


Post  Thu, Mar 21 2019, 1:16 pm
amother wrote:
Spoke to my agent and he said we can’t renew it. He says our only option would be getting a whole life policy. But the premiums on that is prohibitive 😢

Hug I'm so sorry Hug
Crying
Back to top

jd1212




 
 
 


Post  Wed, Mar 27 2019, 10:39 am
I'm a life insurance broker and have helped a few imas in the past. I have experience shopping around all the insurance companies to see which would price certain health conditions most favorably and have gotten people some good deals. Feel free to PM me if you want to speak
Back to top
Recent Topics

Page 1 of 1 View latest: 24h 48h 72h


Post new topic   Reply to topic    Forum -> Household Management -> Finances

Related Topics Replies Last Post
Stores that will give me goods if I show my childs condition
by amother
89 Yesterday at 7:59 pm View last post
Pre-Pesach Price Gouging
by amother
3 Wed, Apr 17 2019, 7:42 pm View last post
Please! Where can we get vaccinated? No insurance in Bklyn
by amother
6 Tue, Apr 16 2019, 7:42 pm View last post
Pre pesach daycamp in Lakewood
by amother
1 Wed, Apr 10 2019, 1:39 pm View last post
Travel Insurance and the West Bank!
by amother
22 Mon, Apr 08 2019, 4:58 pm View last post

Jump to: