Life insurance

[bipbapbop]

Does anyone here have experience with life insurance? I would love to help my loved ones out but am aware that many of them have a CTB clause.

 

[Chronicoverwhelm]

I'm not sure my response will be helpful, but I've been looking into life insurance too and hope to hear from others who know anything.

I've heard that depending on the insurance, sometimes after 2 years, it will still pay out, even if you CTB. If you are like me and want to CTB in the near future, this isn't helpful.

Some other info I read: health issues such as diabetes, kidney failure, etc... can make it difficult to get life insurance. If you have been hospitalized for depression, you can also be denied. Lifestyle, weight, smoking, etc... can affect how much your premiums are. You'll need to have bloodwork done when you apply.

I had life insurance through work, but as soon as I went on medical leave for depression, etc.. they canceled my policy.

 

[Nagito]

It depends on what country you are in. Last time I checked the UK has some life insurances that only have a 1 year suicide clause. In the US there are only insurances with 2 year suicide clauses.

If you do apply, make sure you list everything about your health history. They will check. I had a policy rescinded because I forgot at one point a therapist documented that I was drinking too much and prescribed me medication for it. I didn't want to take the pills so I just stopped drinking on my own.

Completely forgot that was in my health records and they cancelled my policy and refunded all payments I had made. Really be thorough and don't hide anything when applying

 

[bipbapbop]

I'm not sure my response will be helpful, but I've been looking into life insurance too and hope to hear from others who know anything.

I've heard that depending on the insurance, sometimes after 2 years, it will still pay out, even if you CTB. If you are like me and want to CTB in the near future, this isn't helpful.

Some other info I read: health issues such as diabetes, kidney failure, etc... can make it difficult to get life insurance. If you have been hospitalized for depression, you can also be denied. Lifestyle, weight, smoking, etc... can affect how much your premiums are. You'll need to have bloodwork done when you apply.

I had life insurance through work, but as soon as I went on medical leave for depression, etc.. they canceled my policy.

Thanks for the info! It is strange to me that they cancelled it. Will they cancel it if you develop any illness? Whats the point then?

It depends on what country you are in. Last time I checked the UK has some life insurances that only have a 1 year suicide clause. In the US there are only insurances with 2 year suicide clauses.

If you do apply, make sure you list everything about your health history. They will check. I had a policy rescinded because I forgot at one point a therapist documented that I was drinking too much and prescribed me medication for it. I didn't want to take the pills so I just stopped drinking on my own.

Completely forgot that was in my health records and they cancelled my policy and refunded all payments I had made. Really be thorough and don't hide anything when applying

Oh good to know. I didn't realize how extensive the process might be. Ty!

 

[LifeIsCrazyNemb]

If you have a 2 year planning CTB and a family, its definetely woth having it!

 

[Onomatopoeia]

It depends on the state in the U.S., and RACE. In nearly all states, suicide nullifies insurance claims unless it's a military veteran or you can spin it to an accidental death (e.g. accident overdose). Even after the grace periods, insurance companies win a lot of those suicide cases, claiming fraud. Being black also negates life insurance.

I don't know how much more of the insult to injury I can share here before I leave next week to never experience this disgusting world again, hopefully. But we were literally sitting at a traffic stop, and five minutes later, they were shooting my husband. I'll never forget how when I jumped on him, in front of him, one of the other cops who stopped shooting grabbed the other cops' gun so he didn't shoot me.

Two months later, I get a letter saying my husband caused his own death, and life insurance claims were denied. That's how this world works.

 

[Chronicoverwhelm]

Thanks for the info! It is strange to me that they cancelled it. Will they cancel it if you develop any illness? Whats the point then?

I think my insurance was cancelled because my reason for going on disability was for mental health reasons and their reasoning probably had to do with my odds of CTB. This life insurance was through my employer's extended health insurance.

It depends on the state in the U.S., and RACE. In nearly all states, suicide nullifies insurance claims unless it's a military veteran or you can spin it to an accidental death (e.g. accident overdose). Even after the grace periods, insurance companies win a lot of those suicide cases, claiming fraud. Being black also negates life insurance.

I don't know how much more of the insult to injury I can share here before I leave next week to never experience this disgusting world again, hopefully. But we were literally sitting at a traffic stop, and five minutes later, they were shooting my husband. I'll never forget how when I jumped on him, in front of him, one of the other cops who stopped shooting grabbed the other cops' gun so he didn't shoot me.

Two months later, I get a letter saying my husband caused his own death, and life insurance claims were denied. That's how this world works.

Unbelievably brutal and disgusting what you've experienced. I am SO SO sorry. Disgusting world indeed. I have no words. Sending heaps of love & strength to you.

 

[bipbapbop]

It depends on the state in the U.S., and RACE. In nearly all states, suicide nullifies insurance claims unless it's a military veteran or you can spin it to an accidental death (e.g. accident overdose). Even after the grace periods, insurance companies win a lot of those suicide cases, claiming fraud. Being black also negates life insurance.

I don't know how much more of the insult to injury I can share here before I leave next week to never experience this disgusting world again, hopefully. But we were literally sitting at a traffic stop, and five minutes later, they were shooting my husband. I'll never forget how when I jumped on him, in front of him, one of the other cops who stopped shooting grabbed the other cops' gun so he didn't shoot me.

Two months later, I get a letter saying my husband caused his own death, and life insurance claims were denied. That's how this world works.

This is absolutely horrific and I'm so sorry you had to live this. Thank you for sharing such a difficult and vulnerable thing. Sending you so much love.

I think my insurance was cancelled because my reason for going on disability was for mental health reasons and their reasoning probably had to do with my odds of CTB. This life insurance was through my employer's extended health insurance.

This is so unfair though! If I was predisposed to T1 diabetes, would they cancel my insurance if I bought a lot of candy because that raises my odds of DKA? I just hate the way the world is stacked against us.