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Old 02-19-2020, 10:27 PM
kimjongfun kimjongfun is offline
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Default I have a chronic illness that makes life insurance stupidly expensive and hard to get

Like the title says life insurance is very expensive for me, to the point it seems like a ripoff given how healthy I actually am (I fully expect to have near normal life expectancy as most manage this condition far worse than I do).

Does this mean I could get some kind of deferred life annuity for super cheap if life companies are so sure that I'm going to die?
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Old 02-19-2020, 10:49 PM
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What % of standard mortality are you? Are you only looking at the places where the premium is less than the price of a cup of coffee every day???
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Old 02-19-2020, 11:02 PM
kimjongfun kimjongfun is offline
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What % of standard mortality are you? Are you only looking at the places where the premium is less than the price of a cup of coffee every day???
Got a quote from NW mutual
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Old 02-19-2020, 11:20 PM
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You could try getting an APS to confirm that you are actively managing your illness. You could also go for cheaper term vs. permanent. Do you smoke? Family history of illness?
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Last edited by Breadmaker; 02-19-2020 at 11:22 PM.. Reason: Playing underwriter!!!
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Old 02-20-2020, 12:02 AM
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Quote:
Originally Posted by kimjongfun View Post
Like the title says life insurance is very expensive for me, to the point it seems like a ripoff given how healthy I actually am (I fully expect to have near normal life expectancy as most manage this condition far worse than I do).

Does this mean I could get some kind of deferred life annuity for super cheap if life companies are so sure that I'm going to die?
Probably not. Some illnesses will have high life insurance ratings and standard annuity ratings because of uncertainty. Although you might be able to make an arrangement buying both.
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Last edited by ElDucky; 02-20-2020 at 11:28 AM.. Reason: autocorrect
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Old 02-20-2020, 08:03 AM
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I would look into specialized carriers. For example, some carriers specialize in life insurance for diabetics. There are likely specialized carriers for other conditions as well.

You may also want to look into HealthIQ. See some interesting info here: https://www.healthiq.com/life-insurance/diabetic They also offer discounts for runners, yoga practitioners, vegetarians, etc.

Good luck!
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Old 02-20-2020, 08:22 AM
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You might also be able to get a deferred benefit policy, which could make sense if you are generally healthy. (Reduced payout if you pass away within x years, usually 2, I think, full benefits thereafter.)


Employer group life may be your best bet.
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Old 02-20-2020, 08:55 AM
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So . . . why do you want life insurance in the first place?
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Old 02-20-2020, 01:36 PM
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Quote:
Originally Posted by Stephen Camilli View Post
I would look into specialized carriers. For example, some carriers specialize in life insurance for diabetics. There are likely specialized carriers for other conditions as well.

You may also want to look into HealthIQ. See some interesting info here: https://www.healthiq.com/life-insurance/diabetic They also offer discounts for runners, yoga practitioners, vegetarians, etc.

Good luck!
Back in the day there used to be a book entitled (I Believe) Who Writes What - that would list carriers who handled hard to insure conditions.

You could look into whether there is a current electronic version
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Old 02-20-2020, 02:10 PM
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Quote:
Originally Posted by Vorian Atreides View Post
So . . . why do you want life insurance in the first place?
Because he has a chronic illness that might kill him
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