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Yeah, the comment may have been more US-oriented (where I'm living). I do know a couple colleagues who can't get any term life insurance because of some pre-ex
by lowercased 3y ago
Yeah, the comment may have been more US-oriented (where I'm living). I do know a couple colleagues who can't get any term life insurance because of some pre-existing medical conditions. That's not good for them, obviously, but for most others, it makes sense to get something early. Years ago, at 35, I got an $800k 20 year term for about $55/month. Close to 20 years later, we have more savings/wealth, so my family would not be in hardship or having to go begging if I died tomorrow. A 15 year $500k policy now costs me $80/month. I recently got that, but may let it lapse in a few years if we don't need that any more.
FWIW, my policies don't have any specific denials for certain causes of death (particular disease, etc) but I did have to provide medical records (and I'm not in perfect health).
- Spooky23 3y agoOne way around this is group health insurance through employers. Often they allow you to take the policy with you when you leave the employer. The underwriting is done with a group, so the standards are lower and less intrusive.
- Spooky23 3y agos/health/life/
- lowercased 3y agoInteresting. The few times I've seen that, it's typically something like $20k-$50k, which seems more intended to get you through a few months, catch up on bills, etc, but not "family is financially secure for years". Perhaps you can get more via employer-sponsored plans, it just never was presented to me in the few corporate jobs I've had over the years (but boy oh boy did they try to sell cancer insurance!)
- Spooky23 3y agoI guess it depends on the company. Mine offers up to 5x salary.