Life Insurance
 

I am looking to purchase life insurance on myself.....I have PD 8 years.......anyone have any information to share?

Will be tough and expensive
 

Getting any kind of insurance post-dx is tough and very expensive, if you did not already guess that would be the case. I would shop around as aggressively as possible. Sorry I don't have better news, but insurance is essentially a gambling operation and insurance companies rarely lose the bet. They have decades of data and stats to help them assess the risk of having to actually pay a claim and the odds are never in the consumer's favor.

I found it especially ironic being told that PD was not a fatal condition and did NOT shorten one's lifespan by the medical world (at least in the US), only to find the entire insurance industry (or at least everyone we talked to) operated on the opposite premise:(

life insurance
 

Try one of the bigger houses (NY Life, mass mutual, etc., - they usually offer special programs--see if qualify) Get an agent who is on your side. If they will write the policy it'll be "rated" - higher premiums and additional qualifications.You would be amazed at what they will write on.

Guaranteed Issue policy, these are advertised a lot on TV. These are called "sandwich insurance policies". These are for very small amounts ($2K-$10K). Some individuals/businesses will use these policies for other than for their death benefit, but to "window dress" their balance sheets.

These policies are for small amounts,as mentioned. Salient points on these policies: no health questions (thus, "guaranteed issue"), you don't have to deal with any sales person, level premium for life, build cash value. But, if you expire within 2 years from "issue date", no insurance benefits will be paid-- however, generally ALL premiums will be refunded--sometimes with interest.

As an example, to build a $200K insurance base, you "sandwich policies." That is you apply for 20 policies @ $10K, from different companies, wait 2 years and now you have a basis of an estate. (Fully insured for $200,000.)
Generally, you have to be between 45 to 55 ---75 to 85 years of age.

What about premiums. Some folks say that this approach will cost the insuerd 25%or more (could go to 60-80%) than a "20 pay life" or "whole life policy". On the day of the month your pension or investment income a/c is posted to your checking a/c, wait 3 days and have the bank
make a "pre-authorized" disperal to the 20 insurance policies. Don't draft 20 checks yourself. best job1119