5 replies to this topic

[kdenon01]

Hi!

I was wondering if any of you have gotten life insurance AFTER your injuries?

I didn't think it would be a big deal, but we had an appt. to meet with an insurance guy, and he called this morning to cancel and told us that they will not insure my husband due to his injury.

I figured they would just make us pay more...?

Any advice?

[Hapahowlee]

That's a little odd. Mr. Hapa gets approached all the time whenever we talk to insurance brokers regarding our personal property insurance or while making investments. They all know he's bound to a wheelchair. We don't feel the need for life insurance so we always decline.

Did your broker just tell you sorry we can't and that's it as if there were no other options such as waiting a few years? Maybe it's too soon into your husband's injury for the insurance companies to make a lucid decision on insuring him. Did they even ask for medical records? My husband has been in a wheelchair for 23 years and I think insurance companies are pretty confident he will live a long life. So all I can think of right now is that it may be too soon. I know I'd need a better explanation from the insurance company as to why they declined in order to decide on whether or not to approach others. Good luck.

[Quad65]

I could see where a company might not want to sell you health insurance. Life insurance, I would think would not be a problem. I was fortunate to be able to take all health and life insurance coverage with me when I retired. I can do this forever.

You should be able to get a good term-life coverage. As a rule-of-thumb, stay away from whole life insurance; it's not worth the cost.

[AdiTrax]

It may be different from here in the UK, but i got life insurance to cover our new mortgage just over a year ago, no problem. Just make sure you tell them everything or you are wasting your money!

[KarenFerguson]

Hubby & I just got life insurance ($750,000 for me and $500,000 for hubby). Mine, was the typical rate (around 70 bucks a month), but hubby's was quite high (almost $300 bucks a month). They still would insure him, but because of the medications he takes (terrazosin and baclofen) the rate was really high. I was surprised that his sci really didn't have much to do with the rate increase - because mine sure didn't. We also deal with State Farm if that makes a difference.

[kdenon01]

Good to know! Thanks guys. I am going to try State Farm and see what they say!