Need info on life insurance for people w/stage 4 cancer

NBee

My old life insurance company I used to have (Texas Life) for me and my husband, through my old job, dropped me last year shortly after I let them know what was going on with me medically. See, I was apparently behind on two payments, which was strange because payments had always automatically been deducted from my payroll through the school system I worked for. Well, for a couple of months, for some reason that I don't understand and that's not my fault, my life insurance payments weren't taken out. And nobody with payroll or H.R. notified me. I didn't know until I received a letter from Texas Life stating that I was behind in the payments. At the time that I received that letter, I had just recently been told that my cancer had come back and was stage 4 now, and I had had to start weekly chemotherapy, which is rough for me. I contacted the insurance company and told them that I had no idea why the payments hadn't been taken out and I mailed them checks to pay the amount that I owed. Texas Life then mailed me a letter stating that I needed to fill out a form stating my current health/medical report....right after the cancer came back and I'd been diagnosed with stage 4. I filled out the paperwork, turned it in, and they dropped me. Now I'm going to have to try to find life insurance through another company, I guess, but who is going to accept me with my medical diagnosis? It's so frustrating.

So, I was wondering, does anyone know of any life insurance companies that would accept people like me, a person with stage 4 inflammatory breast cancer (a rare and aggressive form of breast cancer, unfortunately)?

Lauriesh

the only kind is the “ no medical questions asked" policies which have pretty high premiums for not much coverage.

DivineMrsM

NBee, sorry about the situation you are in. Many of us find ourselves wondering about life insurance after mbc, so,there has been discussion on it. I am pasting a reply I gave to someone from a thread two years ago. Even tho it was back then I think the information is still valid and if the links to websites don't work, you can google the company info. About your life insurance you had thru employer, sounds suspicious and wonder if you could consult a lawyer to see if you can contest the matter

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There are several companies that offer whole life policies. I was dx with stage iv from the start, amd got two policies, I think it was in 2013. One was with Gerber life for 15,000 for a 44 dollar a month premium. Another was Mutual of Omaha for 25,000 for about 76 dollars a month.

Here is a list of places you can check out, copied and pasted from another thread (and written by another member).The list is a few years old, but I am sure most of these are still active insurance companies where you can get coverage.

All of these listed below require NO MEDICAL QUESTIONS, NO MEDICAL EXAM, NO TURN DOWN, PREMIUMS WILL NEVER INCREASE. Pay 100% for accidental death. No pay-out for suicide. If die within first 2years from date issued, full refund of all premiums plus interest is made to the beneficiary on policy. They can all be applied for online and set up payment directly from your checking account. RATES are based on state you live in and age at which you take out the policy. Some of these are my quotes being in Arizona age 49 turning 50 next month. The reason why they can offer you a plan with guaranteed benefits is because there is limited pay out if you die within 2 years of taking out the policy. However, reputable life insurance policies will pay full after 2 years and won't decrease with age or illness. In order to protect yourself you should always ready your policies carefully and have a financial attorney or someone that is proficient in life insurance policies look it over before you sign it and start sending in your premiums.

Some of these do not ask for any address or phone number for the beneficiary, so I asked how the insurance would find the beneficiary without this information, or how could I provide it to the insurance company since there was no place for it on the forms/policy, and was told that the beneficiary is suppose to contact them when die...I wanted to make it a surprise to a some beneficiaries, so decided to keep copies of the policies in my When I Die Binder (discussed on previous pages of this thread) along with an additional copy inside envelope addressed to beneficiary with a note from me and these envelopes will ONLY be mailed out when I die by my husband, they are already sealed and have a forever stamp on them. ~Bonnie

AAA (Triple A) Guaranteed Issue Whole Life Insurance Policy for Ages 45-85 - Death Benefits $5k-$20k, Premiums for $20k age 45-49=$51.79 age 50-54= $59.79; and age 55-99=$69.99 and AAA membership required (memberships in AZ start at $55/year). To get this quote had to send in my name and birthdate and then a rep emailed me the quote and said if interested reply and he'd email the application - guaranteed approval no medical question. www.aaalife.com/our-products/l...

AARP Guaranteed Acceptance Life Insurance for Ages 50-80 (or as spouse 45-80) - Death Benefits $2.5k-$15k, Premiums $10.05-$55.30 per month. www.nylaarp.com/Life-Insurance....

Colonial Penn Guaranteed Acceptance Life Insurance Policy for Ages 50-85 - Death Benefits $2k-$16.7k, Premiums $9.95-$79.60 per month. www.colonialpenn.com/Guarantee...

Gerber Life Guaranteed Acceptance Life Insurance for Ages 50-80 (or as spouse 45-80) - Death Benefits $3k-$15k,Premiums $8.95-$40.75 per month.www.gerberlife.com/gl/view/gui...

Mutual of Omaha Guaranteed Term Life Insurance for Ages 45-85 - Death Benefits$3k-$25k, Premiums $8.80-$66 per month. www.mutualofomaha.com/life-ins...

Physicians Mutual Modified Whole Life Insurance for Ages 45-80 - Death Benefits$3K-$10K, Premiums $9.70-$30 per month. www.physiciansmutual.com/promo...

Vantis Life Guaranteed Golden Insurance for Ages 50-80 - Death Benefits $5k-$20k, Premiums $19-$70 per month. www.vantislife.com/Decide/Life...

SusanR

NBee, I have the Mutual of Omaha policy that is mentioned above.  No questions asked when I took it out about 7 years ago at the age of 55.  It's $30/month for each $10,000 policy. (I have 2 so $60/month).  I do remember reading that if I didn't live 2 years after taking out the policies, they would repay my beneficiary the amount that had been paid in.  My husband is specifically listed as beneficiary.  I know it's not a large amount but on top of other policies I already had, it helps.  

I agree that your insurance situation sounds suspicious!

SusanR

NBee

DivineMrsM and SusanR, thank you so much for this information! I've got so much stuff I need to look into and paperwork to do, while not feeling well, I can't even imagine trying to find and consult with a lawyer over my old insurance policy too. I wonder if they were counting on that? Oh well. I think I will just try to get coverage through these companies you guys have suggested. It sounds like a better deal than no life insurance at all. Thanks again for your help!