Does anyone know the reputation of ING life insurance? Are t
by Guest » Tue Sep 15, 2009 11:08 pm
please help.
Total Comments: 12
Posted: Tue Feb 09, 2010 07:23 pm Post Subject: How does final expense insurance work?
My Mother wasn't able to afford her universal life policy, with ING, after her premiums increased. We were wondering if there is anything that would at least help with the expense of a funeral? She is 86 years old.
My Mother is the type who keeps every receipt she gets. I asked her if she had any statements that ING might have sent her. I was extremely interested in viewing any information they may have sent. She told me no. They had never sent any monthly statements because her premium was taken directly out of her checking account. If they had sent her annual statements, she obviously didn't remember. I wish I lived closer so I was able to go through her paperwork.
I have 1 more question. I have Multiple Sclerosis and I need to find some life insurance before my next birthday, which is March 3, 2010. I think the only policy I would qualify for are the ones that don't pay within the first 2 years. Would you please be able to give me any information on this? Also which companies you think would be the best. Thank you very much for your time!! I more than greatly appreciate it!!!! Thanks again, Kathy
Posted: Tue Feb 09, 2010 07:32 pm Post Subject:
Kathy,
ING should have sent your mother an annual statement showing how long the policy was both guaranteed and projected to stay in force based on current payments. At her age, it would be very difficult to find anything for less than the $150/month that ING is telling you must be paid to keep the policy going. Even if she could qualify for a standard rate (which is difficult at age 86), the premiums for even $25,000 of coverage would be around $230 per month.
As far getting coverage for yourself, you can still get fully underwritten coverage with benefits guaranteed from day one, and depending on other factors and the severity of the disease, even a standard rate (i.e. normal life expectancy). We just finished a case for a 62 year old woman with MS that received a Table 2 rate (standard rate + 50%), which would have been a standard, but she could not afford the expensive medications and stopped taking them against medical advice. Every company has different underwriting guidelines, so without knowing the whole story and actually shopping the case to underwriters for different companies, it would be difficult to say which company works best. If you want some help, you can visit our website (www.terminsurancebrokers.com) and send an e-mail or call. I would post my e-mail address here but I seem to be getting a lot of spam when I've done that in the past. What state are you in?
Posted: Tue Feb 09, 2010 07:23 pm Post Subject: How does final expense insurance work?
My Mother wasn't able to afford her universal life policy, with ING, after her premiums increased. We were wondering if there is anything that would at least help with the expense of a funeral? She is 86 years old.
My Mother is the type who keeps every receipt she gets. I asked her if she had any statements that ING might have sent her. I was extremely interested in viewing any information they may have sent. She told me no. They had never sent any monthly statements because her premium was taken directly out of her checking account. If they had sent her annual statements, she obviously didn't remember. I wish I lived closer so I was able to go through her paperwork.
I have 1 more question. I have Multiple Sclerosis and I need to find some life insurance before my next birthday, which is March 3, 2010. I think the only policy I would qualify for are the ones that don't pay within the first 2 years. Would you please be able to give me any information on this? Also which companies you think would be the best. Thank you very much for your time!! I more than greatly appreciate it!!!! Thanks again, Kathy
Posted: Tue Feb 09, 2010 07:32 pm Post Subject:
Kathy,
ING should have sent your mother an annual statement showing how long the policy was both guaranteed and projected to stay in force based on current payments. At her age, it would be very difficult to find anything for less than the $150/month that ING is telling you must be paid to keep the policy going. Even if she could qualify for a standard rate (which is difficult at age 86), the premiums for even $25,000 of coverage would be around $230 per month.
As far getting coverage for yourself, you can still get fully underwritten coverage with benefits guaranteed from day one, and depending on other factors and the severity of the disease, even a standard rate (i.e. normal life expectancy). We just finished a case for a 62 year old woman with MS that received a Table 2 rate (standard rate + 50%), which would have been a standard, but she could not afford the expensive medications and stopped taking them against medical advice. Every company has different underwriting guidelines, so without knowing the whole story and actually shopping the case to underwriters for different companies, it would be difficult to say which company works best. If you want some help, you can visit our website (www.terminsurancebrokers.com) and send an e-mail or call. I would post my e-mail address here but I seem to be getting a lot of spam when I've done that in the past. What state are you in?
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