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  • Insurance experience

    Did some Google reading but really have no idea, was pondering about Life/Death Insurance, I thought this was only attainable if you are 50 y/o+ but you can start 1 even for children..
    Any experience/ help here perhaps to 4 individual parameters or other..Such as 35 y/of male w/ C-6 SCI.??
    I am not your rolling wheels
    I am the highway
    I am not your carpet ride
    I am the sky
    I am not your blowing wind
    I am the lightning
    I am not your autumn moon
    I am the night, the night..

  • #2
    Probably your best bet would be to get it through some kind of a group: Work, professional organization, etc, etc.I haven't shopped around but for those of us with SCI problems I imagine it would be a little more expensive. If you have the opportunity to get on a group plan, you get the group rate.

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    • #3
      With SCI it's questionable if they'd even write you a policy, probably not.
      "Life is about how you
      respond to not only the
      challenges you're dealt but
      the challenges you seek...If
      you have no goals, no
      mountains to climb, your
      soul dies".~Liz Fordred

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      • #4
        Probably not possible with your medical history, sorry to say. They dig deep, will know everything, and will probably judge you too high of a risk.
        "I have great faith in fools; self-confidence my friends call it." - Edgar Allen Poe

        "If you only know your side of an issue, you know nothing." -John Stuart Mill, On Liberty

        "Even what those with the greatest reputation for knowing it all claim to understand and defend are but opinions..." -Heraclitus, Fragments

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        • #5
          I agree. You are most likely to be able to get a small life insurance policy through a workplace group plan. Individual policies will require a physical and questionnaire, and I have never seen one that would cover someone with a serious disability like SCI. This is the case for a lot of types of insurance (long term care, disability, etc.).

          Even I had the experience of being turned down for long term care insurance by one company due to having a benign familiar tremor. Fortunately another company was able to see past that with a letter from my physician assuring them there was no association with this and a disability such as Parkinson's.

          (KLD)
          The SCI-Nurses are advanced practice nurses specializing in SCI/D care. They are available to answer questions, provide education, and make suggestions which you should always discuss with your physician/primary health care provider before implementing. Medical diagnosis is not provided, nor do the SCI-Nurses provide nursing or medical care through their responses on the CareCure forums.

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          • #6
            My son got a pretty good life policy thru State Farm. It was about 6 years ago. State Farm did do a lot of digging, but in the end my son got a policy for 250,000. I don't think insurance companies can discriminate against someone with a sci. Maybe if he had cancer or some other life threatening disease State Farm would not have written a policy. All I know is, it was pretty easy to get coverage. Oh, the policy is not a group policy either. Hope this helps!

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            • #7
              When I reached 18 my guardian made sure I got a life insurance policy. That was almost 60 years ago. The cost of a meager $10,000 was cheap. I have over all those years kept that policy current. That policy today has increased in value. About 30 years ago I did borrow some cash from it, and paid that back.

              A good life insurance policy pays better that a savings account today. You can take out a LIFE INSURANCE POLICY, the day a child is born, and if you keep it up, it gains more value than its face value after some number of years and in my case beside that I can collect a some interest each year or put it back into the policy. BUT, you must keep it up to date, and purchase it from an old and reputable Company, it is a no lose situation if you do.

              Extended care/long term care insurance is a much different thing entirely. It is very dependent on "good" health, and I would strongly advise anyone interested in that, should contact a financial and legal insurance expert to advise you, so you will not be abandoned if and when you need to make use of this kind of policy.
              Last edited by Bob Sullivan; 04-13-2016, 08:30 AM.

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              • #8
                Originally posted by Mombo View Post
                My son got a pretty good life policy thru State Farm. It was about 6 years ago. State Farm did do a lot of digging, but in the end my son got a policy for 250,000. I don't think insurance companies can discriminate against someone with a sci. Maybe if he had cancer or some other life threatening disease State Farm would not have written a policy. All I know is, it was pretty easy to get coverage. Oh, the policy is not a group policy either. Hope this helps!
                Federal courts have been split on whether the ADA can be applied to insurance decisions. The ACA settled this for health insurance, but for other types the precedence says, "If the actuarial data supports the insurance company's decision, then it is not discrimination (it is "scientific" fact)."

                The reasoning is along the lines of, since insurance is a business that prices risk for profit, it is unreasonable for the government to force a business to take a loss on a product. This is the same reason why, even though "age" and "sex" discrimination is illegal, automotive insurance is way more expensive (or often unavailable) for newly licensed teenage boys. It's not "discrimination", it's a scientific fact that they cause more expensive damage with cars, and file more claims for that damage.

                State Farm is a somewhat different beast. They'll often cover a LOT more risk than other companies, often for a LOT cheaper, but only for people that "bundle" their products. I'm willing to bet you guys use Start Farm for more than just this one life insurance policy.
                Last edited by Oddity; 04-13-2016, 09:59 AM.
                "I have great faith in fools; self-confidence my friends call it." - Edgar Allen Poe

                "If you only know your side of an issue, you know nothing." -John Stuart Mill, On Liberty

                "Even what those with the greatest reputation for knowing it all claim to understand and defend are but opinions..." -Heraclitus, Fragments

                Comment


                • #9
                  Originally posted by Oddity View Post
                  Federal courts have been split on whether the ADA can be applied to insurance decisions. The ACA settled this for health insurance, but for other types the precedence says, "If the actuarial data supports the insurance company's decision, then it is not discrimination (it is "scientific" fact)."

                  The reasoning is along the lines of, since insurance is a business that prices risk for profit, it is unreasonable for the government to force a business to take a loss on a product. This is the same reason why, even though "age" and "sex" discrimination is illegal, automotive insurance is way more expensive (or often unavailable) for newly licensed teenage boys. It's not "discrimination", it's a scientific fact that they cause more expensive damage with cars, and file more claims for that damage.

                  State Farm is a somewhat different beast. They'll often cover a LOT more risk than other companies, often for a LOT cheaper, but only for people that "bundle" their products. I'm willing to bet you guys use Start Farm for more than just this one life insurance policy.
                  We initially had everything covered with State Farm, but later switched to USAA except for the life policy.

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