I dropped life insurance many years ago because of the policies expense. I had both whole life and term at various times. Does anyone have success and/or recommendations?
Do you have health insurance? My health insurance company was able to tack on a small life insurance policy for me.
Work policies have been the only resource for me. When I retired the "3X salary" went away and am left with a small policy my dad took out for me when I was 15. In the 1980s, I tried other polices, but the D really ended that--especially when not monetarily solvent.
I decided that life insurance was about protecting my kids and my wife. And I further determined that I was not going to get good rates on the open market. I was just going to considered high risk and life insurance was going to be a poor deal. And I decided it isn't about reaching old age and paying for my casket, it was about protecting the short term risks. So I decided that since I was going to be on the short end of the stick with insurance that I would only depend on my retirement and savings for after the kids left home. I still carry insurance through work, but when I retire, I'll probably skip the whole thing. It just seems better putting my money into savings.
Mixed experiences with this one. Really depends on "control" and A1C's. The better you are the more likely you are to find a policy at a reasonable rate. I was under the mistaken belief that the "D" diagnosis ended any chance of purchasing further insurance but was surprised to learn that is not the case necessarily.
Yes, through my employer but they do not provide that option.
Are you aware of any diabetic-friendly underwriters?