Life insurance

mruble
mruble Member Posts: 174
in Esophageal Cancer #1
After the recent postings about Social Security Disability, I was thinking about something Chad's oncologist told us when he had a recurrance last Christmas. If you have a terminal illness and are not expected to live over a year, some policies allow you collect your benefit while you're still alive. Chad's doctor offered to sign the paperwork for us, since statistically speaking, Chad shouldn't live a year (but as we know, everyone is a statistic of one). While we declined the offer, it remains in the back of my mind if needed. If you choose not to collect, further premiums can be waived, while keeping the policy in force.

Cancer can be such a financial drain, but your life insurance may be able to provide some relief. Just thought I'd throw it out in case not everyone was aware.

Mary

Comments

  • hopper52
    hopper52 Member Posts: 108
    #2
    Good Point
    I have heard about that. I am retired military. When I retired I converted my Serviceman's Group Life over to Veterans Group Life. If you have a terminal illness they'll let you collect 50% of it once you've been declared terminal. I would imagine it would be helpful to people for planning purposes to know about things like this.

    Michael Daniels T3N0M0
    Brandon, FL
  • json_2011
    json_2011 Member Posts: 100
    #3
    thanks i guess
    Im with you on this one Mary , yes we hate to go through these decisions. With my mother at a early stage iv , will have to ask this somewhere down the line. Thankyou for thinking about this. We will be better prepared on down the line - I think this is what this site is all about. Thankyou.




    Jason

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