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| *Loan,banking and credit>>>health insurance |
We have no life insurance and my husband's health is declining. Is it too late to get a good rate? |
He is 55, smokes, has had a heart attack, and has diabetes. Please don't tell me how he needs to quit smoking etc... I KNOW THAT. It's his choice NOT to, and I'm trying to figure out what to do before he dies to protect myself. We have health ins. but not life ins. I fear that if he dies, I will lose our home and be destitute. I have physical limitations myself on what I am able to do and can only work a couple of hours a day, which translate into a very limited earning potential. I know nothing about life insurance. Up until a few months ago, I thought we had it through military retirement. I refuse to lie about his health to get a better rate. Base on your description, it is impossible to get a good rate. Rates that are advertised online or on TV are for people with perfect health. No matter what type of policy you get, cash value or term, it will be very expensive for you and your husband to even get $100,000 coverage (premiums are at least $2000/year). My only advice is to look around for companies and find which one offers the lowest premium. It is better that you find out by calling the insurance company directly instead of filling stuff out online. Source(s): 231 You can get small policies fairly easy and cheap on-line. Most have a 2 year limitation though. Meaning the person has to live at least 2 years to get the full amount of the policy. They will do medical tests for a life rate quote and you can't fake that. With his history it will be expensive if they don't turn you down, which is most likely. It's looks like you need to figure something esle out. No, it's not too late actually. Have you checked out Gerber Life Insurance? They have really good rates for adults, and I don't think his prior health condition is an issue. I really think you should look into it. Unfortunately, I doubt that any company would cover you know with all of his pre-existing conditions. If they do, the rate will be high. You might get better rates through the VA. You might also need to go on permanent Medical Disability. Do you have kids? If so, you might want to think about putting the house in their name. If, god forbid, something happens, they couldn't touch the house. Best of Luck! Check AARP. They have group term life (his health is not an issue) and your husband would qualify. Call 1-800-865-7927. Or you could go to http://www.aarp.org/aarp_benefits/... and check it out. You do have to be a member, but it's very cheap. The coverage they offer is not very high, but, at least it's something. |
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