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Re: [IPp] Question regarding diabetics being "insurable"



As a general rule Type 1 diabetics can secure "term life" insurance, 
however, it is considered a non standard policy and will therefore come with 
a premium attached to it.  There are policies that can be purchased at birth 
or thereabouts with guaranteed issue amounts when they turn 21, however they 
are smaller amounts and are intended to help with funeral expenses more so 
then to "provide for your families' future in the event of your untimely 
death".  As for group insurance, Type 1 diabetics can be eligible for life 
insurance under a group employers plan (depending on the legislation at that 
time as some small companies do not provide any life insurance - the same 
can hold true for medical insurance for a specified period of time).  This 
will generally be a "guaranteed issue" amount so something small ($10,000 to 
$50,000) but the premium will be very reasonable and will cease if he/she 
terminates employment.  My husband and daughter are both Type 1, my husband 
was diagnosed at age 13 and has been largerly uninsurable for medical and 
life unless through a group insurance plan and then only at a reasonable 
premium if it was a larger company (50+ lives).  However, I was able to 
purchase riders on my variable life policy for my husband and daughter  - 
both term policies at a very reasonable premium and for a fairly sizeable 
amount.  However, term policies expire at a certain time and at that point 
it would be difficult to secure additional life insurance for my husband. 
Megan does have a child policy from before she was diagnosed and as long as 
the premium is paid it will not be cancelled and upon attainment of age 18 
or 21 she can increase the amount up to $25,000.  Not a big policy but at 
least something that could compliment anything she is able to secure through 
her career.  I hope this helps.  Suzanne

----- Original Message ----- 
From: "Debbie Crawford" <email @ redacted>
To: <email @ redacted>
Sent: Tuesday, May 27, 2008 1:00 PM
Subject: [IPp] Question regarding diabetics being "insurable"


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>
> Hello to all,
>
> I was having a discussion with my husband the other day regarding 
> insurance.
> We have two older non-d daughters and he was talking about getting them 
> some
> life insurance.  We then were talking about our 15 yr. old diabetic son
> getting insurance.  My husband says he doesn't think Kendall can ever be
> insured because of the fact that he is type 1.  I am not so sure.  I was
> wondering if I could get some input from you all on this.  My husband is 
> an
> investment broker and knows a lot regarding laws, etc... He also sells 
> some
> life insurance and really thinks type 1 diabetes prohibits our kids from
> being insured.  Does this mean that our kids can never get life insurance?
> How about when they enter into occupations of their own, even if they're
> employed by a major company?  I would appreciate any comments and 
> insights.
>
> Debbie Crawford
> Hull, GA
> Mom to Kendall, age 15, pumping since 10 w/ Cozmo and dx'd 11/99
> .
.
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