by Journey » Mon May 19, 2008 08:51 am
I was wondering if anyone could tell me what type of life-insurance I should be looking at. I am a 28-year-old female, non-smoking, but do have 3 chronic illnesses. I have a well-documented health history, which up until recently was very good so it could have helped me, but recently I have been hospitalized quite a bit and have had a lot of problems so I'm not sure it would be a good thing anymore to try to prove I'm "healthy." Is it even possible for someone like me to get insurance at a reasonable rate? Or is it just not worth it?
Posted: Tue Jun 17, 2008 03:37 pm Post Subject:
Interesting advise The Broker Dealer,
YOu dont want return of Premium or any of the fancy bells and whistles... Just straight term with an A+ rated company....
Other people may prefer return of premiums, dividends, and cash values. But you are not interested on these ones? You only want a term policy?
Many people will disagree with me on this fact, and I can elaborate if need be, but dont be taken
I think I may agree with you, but I want to know your reason why. Can you tell us?
Posted: Thu Jun 19, 2008 11:15 am Post Subject: insurance
I would want something that builds cash value...ya know? We never know what can happen in the future. However....are Life Insurance policies, that build cash value, MORE expensive than ones that don't?
Posted: Mon Aug 04, 2008 05:13 am Post Subject:
Hi Journey,
No matter what insurance you are going to get, it is important for you to have insurance protection. With your conditions, you need insurance more than anyone else does.
Even if the insurance company quotes you a seemingly higher rate, you may like to seriously consider their willingness to accept your application.
Life insurance is a one-way street. Once we are insured, the insurance company will never increase our premium rates if our health conditions deteriorate in later years.
However if at the time of application, we are at substandard risks, we can always appeal to have the insurance company review the premium rates if we show substantial improvement in our health conditions.
Posted: Mon Aug 04, 2008 04:21 pm Post Subject:
The Broker Dealer actually had great advice. And as long as you make sure you die within the next 30 years (provided you qualify for a 30 year plan) someone will benefit from all your hard-earned premium payments.
If you dare to remain alive any more than the 30-year term, it's doubtful that you'll be able to afford or qualify for new coverage and the whole ordeal will have been one big waste of money.
Oh, your agent will have been paid well though.
Always remember that only around 2% of all term plans are ever paid off in a claim.
Posted: Mon Aug 04, 2008 04:44 pm Post Subject:
are Life Insurance policies, that build cash value, MORE expensive than ones that don't?
As I know it, life insurance policies that have cash values is more expensive that those that don't have cash values, such as term insurance. But this is also one good type of insurance to consider. Even though the premium is much higher, it can also give you additional funds in the future. You may surrender it and get the cash value of your policy.
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