Guest guest Posted November 6, 2007 Report Share Posted November 6, 2007 I'm sure this has been asked here before...but can people with PSC get a new term life insurance policy? Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 6, 2007 Report Share Posted November 6, 2007 Hi Jed, My husband tried and tried. He could not even qualify for his company's supplemental life insurance. The only life insurance he could get was insanely expensive. I mean like 1K per month expensive! We decided to skip it. -Dawn > > I'm sure this has been asked here before...but can people with PSC get > a new term life insurance policy? > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 6, 2007 Report Share Posted November 6, 2007 My wife Tina has tried so many times we just gave up. The only insurance we could get would exclude PSC as a death payout. We talked to our financial planner and he said it might be best to invest the money it would cost for life insurance each month into some sort of investment that would give you a return on our money. I guess this might be the only choice for us. Jeff.Jed wrote: I'm sure this has been asked here before...but can people with PSC get a new term life insurance policy? __________________________________________________ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 6, 2007 Report Share Posted November 6, 2007 My husband is in the insurance buisness, and new life insurance that requires a medical backgroung check or physical is not possible to get. Although some life insurance like thru AARP that does not require a physical is possible. PSC and life insurance I'm sure this has been asked here before...but can people with PSC get a new term life insurance policy?__________________________________________________ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 6, 2007 Report Share Posted November 6, 2007 I’ve never been able to get life insurance, so we put a similar amount into a superannuation policy, that has a death benefit. This works in a similar way…payout when I die. Doesn’t matter what it’s called, and the end result is the same. Penny T Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 7, 2007 Report Share Posted November 7, 2007 Thanks for the info everybody. I assumed that was the answer, but wanted to make sure. It appears it may be wise to invest the money in something else and let it grow that way. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 8, 2007 Report Share Posted November 8, 2007 Okay, I'm a bit embarrassed to bring this up because I normally think of myself as being extremely ethical and honest. But I just had an idea, that seems like in reality it's legal but that morally it might be considered a scam. I was just thinking about the injustice of my son never even having a chance at a real life insurance policy because he was diagnosed when he entered 1st grade. Would it be crazy to take out a big honking life insurance policy on an elderly family member who is (for the most part) sure to die before my son, and have my son be the beneficiary of that policy? _ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 I don't think there's anything unethical about it, but you might be astounded how much the premiums are. And, they may not be insurable at that age either. Insurance companies are in it for the money (it IS a business), and it's all about the odds. See http://www.actuary.com/actuarial-science/actuarial-tables-actuary.htm, for instance. Arne ________________________________ From: [mailto: ] On Behalf Of Gaiatrek Okay, I'm a bit embarrassed to bring this up because I normally think of myself as being extremely ethical and honest. But I just had an idea, that seems like in reality it's legal but that morally it might be considered a scam. I was just thinking about the injustice of my son never even having a chance at a real life insurance policy because he was diagnosed when he entered 1st grade. Would it be crazy to take out a big honking life insurance policy on an elderly family member who is (for the most part) sure to die before my son, and have my son be the beneficiary of that policy? Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 -----Original Message----- I was just thinking about the injustice of my son never even having a chance at a real life insurance policy What many people forget is life insurance is for the living. Young fathers & mothers buy life insurance so that if they were to pass, their family would have enough money to bury them and some money left over to go on living the life style they were accustom to – until - they are able to fend for themselves. Most adults can save enough money for a proper burial. Most spouses already work (or can get a job) and can care for themselves. Children and young adults have no need to leave behind a large sum of money as no one depends on them for survival. That leaves only a very few young couples with young children who might actually need (until the spouse can get back up on their feet) the extra money a life insurance policy can give them. While it might sound great that X & O would get a huge windfall if O & X’s loved one died, it’s totally unnecessary. My husband & I had insurance when our kids were little (young enough that I stayed home with them.) But once they were old enough we stopped our insurance. Ken has no life insurance, we can afford to bury him (when he is 110 years old – not one minute before!!) So don’t worry about it, besides getting insurance for someone who is old would cost you two arms and two legs. If you want to care for your son in his later years – save the money and pass it on to him. Insurance is for the living, who can normally care for themselves, while dead people may vote, they can’t spend it. With sincere apologies to all insurance salespeople in our group. Barb in Texas - Together in the Fight, Whatever it Takes! Son Ken (33) UC 91 - PSC 99 - Tx 6/21 & 6/30/07 @ Baylor in Dallas Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 While I agree with Barb for the most part, I would like to point out that it may be possible for people with PSC to get life insurance. I had life insurance through my workplace before my transplant, and I actually still have life insurance under my wife's policy. The amount is limited to 1/2 what my wife has, but still it's not too bad. I think that in cases like PSC there is a greater need for life insurance... not only is there a greater risk of death, it's also significantly harder to save the money needed to provide for your raising and educating your kids. So I can certainly understand the frustration of those who haven't been able to get insurance. It's similar to how the medical system works... the poorest people can't afford insurance, yet they're charged most for medical care. athan Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 My husband was able to pick up a small policy very recently that our agent found for us. It is a Term Policy that required no physical and the 5 questions "asked" did not refer to Liver Disease in any matter. He researched it and now has a small policy. was recently diagnosed and is asymptomatic for the "most" part. My father recently passed away from Cholangiocarcinoma. No PSC, No Crohn's, No UC - just one of those rare individuals to get this. He was diagnosed in June of this year and passed away October 23rd. He was 70 years old and me being the baby, the youngest of his children is 33yrs old. I could not even imagine my dad not having life insurance coverage. He didn't have huge policies but he had enough to take care of the funeral arrangements so my dear mom did not have to worry. The expenses are outrageous and any little bit helped. I know I struggle and worry about the "future". I don't sit and dwell on it but we do have 3 young kids and very little insurance on my husband. While I pray everyday we grow old together, I do still worry about what "will" happen if anything changes. - Crohn's; '88 & PSC 6/05 Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 -----Original Message----- it's also significantly harder to save the money needed to provide for your raising and educating your kids. I agree athan, that’s what I said, people with young kids need life insurance. (My husband & I had insurance when our kids were little…..But once they were old enough we stopped our insurance.) Barb in Texas - Together in the Fight, Whatever it Takes! Son Ken (33) UC 91 - PSC 99 - Tx 6/21 & 6/30/07 @ Baylor in Dallas Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 My wife has a life insurance policy that was begun many years ago before she was diagnosed with anything. When we were first married, I said we should cancel it since it was unnecessary given our situation at the time. She pointed out that she was diagnosed with UC after the policy was initiated and it would be unlikely that she could obtain inexpensive coverage in the future. I also have a smaller policy on her, through my employer. Both will be adequate for funeral expenses some day, with something left over. Naperville, IL Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 Well, I guess that's why I think should have life insurance. He'd love to marry and have a family of his own, and having some backing while his kids are young makes sense to me. -----Original Message----- it's also significantly harder to save the money needed to provide for your raising and educating your kids. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 In my case I was refused life insurance for an outside policy. But had life insurance from my employer and my husbands. I have recently been declared disabled and my employers long term disability provider is automatically giving me life insurance at no cost until I am 70. I encourage anyone who is still working to check into their company's disability before just giving up their job. I have found that UNUM our long term disability provider very helpful.athan wrote: While I agree with Barb for the most part, I would like to point out that it may be possible for people with PSC to get life insurance. I had life insurance through my workplace before my transplant, and I actually still have life insurance under my wife's policy. The amount is limited to 1/2 what my wife has, but still it's not too bad.I think that in cases like PSC there is a greater need for life insurance... not only is there a greater risk of death, it's also significantly harder to save the money needed to provide for your raising and educating your kids. So I can certainly understand the frustration of those who haven't been able to get insurance. It's similar to how the medical system works... the poorest people can't afford insurance, yet they're charged most for medical care.athan __________________________________________________ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 How many people can afford for their spouse to stop having a paycheck tomorrow? Enough life insurance to invest the benefit and have the income generated to cover the lost wages goes a long long way. Or to pay off leftover medical bills, pay for a childs college education, or the spouses education to help get a better job to replace the lost income. Or with some companies if the person has less than 2 years to live a percentage of the policy will be paid out before death, to help easy the money pressures, and the rest paid out at the time of death.. RE: PSC and life insurance -----Original Message-----I was just thinking about the injustice of my son never even having a chance at a real life insurance policy What many people forget is life insurance is for the living. Young fathers & mothers buy life insurance so that if they were to pass, their family would have enough money to bury them and some money left over to go on living the life style they were accustom to – until - they are able to fend for themselves. Most adults can save enough money for a proper burial. Most spouses already work (or can get a job) and can care for themselves. Children and young adults have no need to leave behind a large sum of money as no one depends on them for survival. That leaves only a very few young couples with young children who might actually need (until the spouse can get back up on their feet) the extra money a life insurance policy can give them. While it might sound great that X & O would get a huge windfall if O & X’s loved one died, it’s totally unnecessary. My husband & I had insurance when our kids were little (young enough that I stayed home with them.) But once they were old enough we stopped our insurance. Ken has no life insurance, we can afford to bury him (when he is 110 years old – not one minute before!!) So don’t worry about it, besides getting insurance for someone who is old would cost you two arms and two legs. If you want to care for your son in his later years – save the money and pass it on to him. Insurance is for the living, who can normally care for themselves, while dead people may vote, they can’t spend it. With sincere apologies to all insurance salespeople in our group. Barb in Texas - Together in the Fight, Whatever it Takes! Son Ken (33) UC 91 - PSC 99 - Tx 6/21 & 6/30/07 @ Baylor in Dallas __________________________________________________ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 , If your son is under 18 the money would have to go into some trust until he is 18. I have a friend who has a mentally handicapped brother, her family agreed to take out a policy on an elder aunt. the benefit was left to someone who is trusted to see that money goes for the child, he will be able to have excellent living condtions and medical care for his entire life!! Private care sure beats goverment care. Re: PSC and life insurance Okay, I'm a bit embarrassed to bring this up because I normally think of myself as being extremely ethical and honest. But I just had an idea, that seems like in reality it's legal but that morally it might be considered a scam. I was just thinking about the injustice of my son never even having a chance at a real life insurance policy because he was diagnosed when he entered 1st grade. Would it be crazy to take out a big honking life insurance policy on an elderly family member who is (for the most part) sure to die before my son, and have my son be the beneficiary of that policy? _ __________________________________________________ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 --- In ,e > > Okay, I'm a bit embarrassed to bring this up because I normally think of myself as being extremely ethical and honest. Good on you . I can't see that you are being dishonest or unethical just 'thinking outside the square' Best wishes Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 , You are honest and ethical. There is no stippulations (sp) on what life insurance proceeds can be used for. Now if you would use the money for something illegal than that would be another story. Re: PSC and life insurance --- In @ yahoogroups. com,e> > Okay, I'm a bit embarrassed to bring this up because I normally think of myself as being extremely ethical and honest. Good on you .I can't see that you are being dishonest or unethical just 'thinking outside the square'Best wishes __________________________________________________ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 Agree with you, don't waste time on thing that cannot be changed, but a policy on a child that matures as the child ages and is diagnosed with any uninsurable conditions may not be a bad idea. RE: PSC and life insurance I¢m sure what everyone is saying about life insurance is correct. But for those that can get it or can¢t afford it, it isn¢t the end of the world. All I¢m trying to say is, don¢t stress over things you can¢t control. __________________________________________________ Quote Link to comment Share on other sites More sharing options...
Guest guest Posted November 9, 2007 Report Share Posted November 9, 2007 I can understand that. I spoke with a life insurance salesperson about why I'd want to insure my kids because it made no sense to me. Then she brought up the possibility of them being diagnosed with a disease that will prevent them getting insurance as an adult. If you purchase life insurance on kids, they will have the option of continuing it without the premiums increasing or a physical exam. Given that Crohns and PSC might be genetically linked, I think I might look into insuring my kids, just so that they will have the ability to have insurance when they become adults. Who knows if I've passed on my genes to them... > > Well, I guess that's why I think should have life insurance. He'd > love to marry and have a family of his own, and having some backing > while his kids are young makes sense to me. > > > > > > -----Original Message----- > > it's also significantly harder to save the money needed to provide for > > your raising and educating your kids. > > > > > > > Quote Link to comment Share on other sites More sharing options...
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