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kindaworried
LIF Zygote
Member since 7/07 6 total posts
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Message edited 11/19/2012 9:57:20 PM.
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Posted 7/25/07 2:18 PM  |
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soontobemommy
LIF Adolescent
Member since 1/07 540 total posts
Name:
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Re: Need help re Life insurance & medical issue
If you lie on an application for insurance, you will not be covered if you need the benefits and your non-disclosure is discovered. It is considered misrepresentation and could be viewed as fraud.
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| Posted 7/25/07 2:22 PM |
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kindaworried
LIF Zygote
Member since 7/07 6 total posts
Name:
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Message edited 11/19/2012 9:57:44 PM.
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| Posted 7/25/07 2:36 PM |
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BaroqueMama
Chase is one!
Member since 5/05 27530 total posts
Name:
me
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Re: Need help re Life insurance & medical issue
No advice, but tons of
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| Posted 7/25/07 2:38 PM |
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soontobemommy
LIF Adolescent
Member since 1/07 540 total posts
Name:
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Re: Need help re Life insurance & medical issue
I'm sorry and I hope it turns out to be nothing 
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| Posted 7/25/07 2:46 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Need help re Life insurance & medical issue
Insurance fraud is VERY serious. Be honest. MS shouldn't prevent you from getting life insurance.
One of my best friends was diagnosed with remitting / recurring MS last fall and is doing GREAT.
Good luck to you - I know the doctors, tests, and "what ifs" are scary.
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| Posted 7/25/07 2:46 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Need help re Life insurance & medical issue
It will come up on the MIB. Medical information bureau. Don't lie. Personally, I would wait.
This happened to me..not quite the same story though.
I went to up my life insurance at work past the limits w/o a medical report. So they needed disclosure. I waited until after surgery I had to apply for it. Glad I waited.
eta: good luck with your testing. hang in there.
Message edited 7/25/2007 2:47:32 PM.
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| Posted 7/25/07 2:47 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Need help re Life insurance & medical issue
Posted by kindaworried
Thanks.
That is what I was afraid of. Maybe I should wait on getting the rest of the testing done since I honestly don't really know what it is right now. The Dr said it could be an infection or even Lymes disease.
Eh, well, I'm probably screwed no matter what I do now anyway. 
Take care of yourself first. Answer the questions the insurce co asks you honestly and it'll be fine! Don't worry!
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| Posted 7/25/07 2:47 PM |
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cazhley
I ♥ cheesiness.
Member since 1/07 1429 total posts
Name:
Cassie
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Re: Need help re Life insurance & medical issue
Edited.
Message edited 1/17/2008 5:29:56 PM.
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| Posted 7/25/07 2:56 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14007 total posts
Name:
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Re: Need help re Life insurance & medical issue
Posted by soontobemommy
If you lie on an application for insurance, you will not be covered if you need the benefits and your non-disclosure is discovered. It is considered misrepresentation and could be viewed as fraud.
ITA with the above. It's better to be up front and honest when they do the field interview and underwriting. Ask the agent to speak with an underwriter first to see if you are even insurable before sending up the application. You don't want to have a decline on your records and have this be nothing.
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| Posted 7/25/07 3:03 PM |
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Ladybug63
Ohh... baby
Member since 5/06 2527 total posts
Name:
D
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Re: Need help re Life insurance & medical issue
It may not even be a factor. Since you haven’t been diagnosed w/ anything I think you should be fine. Can you talk to your insurance agent off the record?
Message edited 7/25/2007 3:42:08 PM.
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| Posted 7/25/07 3:40 PM |
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kindaworried
LIF Zygote
Member since 7/07 6 total posts
Name:
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Message edited 11/19/2012 9:58:13 PM.
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| Posted 7/25/07 4:26 PM |
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Smiley
LIF Infant
Member since 6/06 83 total posts
Name:
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Re: Need help re Life insurance & medical issue
Posted by soontobemommy
If you lie on an application for insurance, you will not be covered if you need the benefits and your non-disclosure is discovered. It is considered misrepresentation and could be viewed as fraud.
This is partly true. There is typically a 2 year period that if you pass away, the insurance company can investigate. At that point, if they find something, they can deny payment. Some companies I believe have a 3 year period. Once that period is over, you could have lied about anythng on your application and they still have to pay.
You can usually get insurance with MS, however you will likely have to pay a significant amount more moeny for it that if you didn't have it. Although it's not a terminal condition, insurance companies do look very disfavorbly upon it.
It's you choice, you can lie and hope nothing happens to you in the next 2 or 3 years (and risk them finding out beforehand, athough not likely), or you can tell the truth and risk denial of coverage or high premiums.
Whatever you decide, best of luck to you.
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| Posted 7/25/07 4:30 PM |
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donegal419
St. Gerard, pray for us.
Member since 7/07 7650 total posts
Name:
K
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Re: Need help re Life insurance & medical issue
first of all.... good luck!!!! i hope everything will be just fine for you medically!
in terms of insurance, i would stay away from a term policy if you can... essentially, in a lot of ways, it is like throwing money away. in the probable event you're alive when the policy is up, you've thrown away thousands of dollars. my DH just fininshed a financially planning course with NY Life... they invest part of your money that you give to them for life insurance.. so even if it's term, you do get some of it back as it's been invested. i would see if you could look into other options instead of a point-blank term life insurance that gives you nothing unless you die. hope that makes sense.
GOOD LUCK!
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| Posted 7/25/07 4:36 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14007 total posts
Name:
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Re: Need help re Life insurance & medical issue
An agent shouldn't do it off the record but he can call the undewriters and give them the information to see if you are insurable. If you aren't, then don't submit an application.
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| Posted 7/25/07 4:38 PM |
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Smiley
LIF Infant
Member since 6/06 83 total posts
Name:
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Re: Need help re Life insurance & medical issue
Posted by donegal419
first of all.... good luck!!!! i hope everything will be just fine for you medically!
in terms of insurance, i would stay away from a term policy if you can... essentially, in a lot of ways, it is like throwing money away. in the probable event you're alive when the policy is up, you've thrown away thousands of dollars. my DH just fininshed a financially planning course with NY Life... they invest part of your money that you give to them for life insurance.. so even if it's term, you do get some of it back as it's been invested. i would see if you could look into other options instead of a point-blank term life insurance that gives you nothing unless you die. hope that makes sense.
GOOD LUCK!
My DH used to work for NYL.
Please note, WL insurance does NOT work for everyone. You can ask 1,000 people which type is better and you will get 1,000 different responses. It's best to do your own research.
NYL (and every other insurance company under the sun) also does not give financial planning courses. They give you training on how to sell life insurance and make the most money for yourself and the company. WL policies are SIGNIFICANTLY more expensive. Note: I have both types of policies (all with NYL). My term policy, which is about $1.5M costs me about $60/month. Had I opted to get WL for that amount, it would have cost me over $800/month!! (Insurance agents get about 50% or the first year's annual premium as a commission, i.e. $4,800 commission had I purchased that WL policy. If that's what you need great, but don't just sell me a WL policy becuase you get paid best on it).
Different products work better for different people. Term insurance is designed to cover a temporary need (mortgage, college, etc). WL is more for those who may require some estate plannin down the road. It is under no circumstances retirement planning or an invenstment account. And just for the record, the money in a WL policy is NOT invested. They are earned dividends and they are NOT guaranteed. The best bet is to find yourself an honest insrance agent (yes, there are a few out there) and ask the hard questions and listed for unbiased answers. Don't let any agent tell you that term insurance is a waste of money. Trust me, your family won't think so if you end up using it.
With all due respect, tell your husband to do his best to conduct himself honestly and not to drink too much of the Kool-Aid they serve over there. He will be most successful if he is honest and does the right thing for people. I would also suggest he find outside clients and not just sell all your family and friends, that well dries up very quickly.
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| Posted 7/25/07 4:52 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: Need help re Life insurance & medical issue
I just saw your update post. So what did you say to the ins agent and what did they ask you, want to know from you about your medical history that applied to this recent visit with the neurologist?
I am sorry you are going through this. It is very stressful and scary.
Message edited 6/2/2014 9:47:35 PM.
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| Posted 7/25/07 5:00 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14007 total posts
Name:
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Re: Need help re Life insurance & medical issue
Posted by Smiley
NYL (and every other insurance company under the sun) also does not give financial planning courses. They give you training on how to sell life insurance and make the most money for yourself and the company. WL policies are SIGNIFICANTLY more expensive. Note: I have both types of policies (all with NYL). My term policy, which is about $1.5M costs me about $60/month. Had I opted to get WL for that amount, it would have cost me over $800/month!! (Insurance agents get about 50% or the first year's annual premium as a commission, i.e. $4,800 commission had I purchased that WL policy. If that's what you need great, but don't just sell me a WL policy becuase you get paid best on it).
Thank you. You did a great job of explaining the difference.
I am a Certified Financial Planner and what I have learned took years, experience and a grueling series of tests to be able to say that. What I know can't be learning in a class taught by an insurance company. If you are looking for planning advice, you may want to speak to someone that has earned a certain degree of accomplishment in the industry.
Message edited 7/25/2007 5:08:59 PM.
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| Posted 7/25/07 5:00 PM |
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LittleBlueBug
Happy Mommy
Member since 9/06 4074 total posts
Name:
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Re: Need help re Life insurance & medical issue
Just wanted to add...even if you did not mention it, they get your medical records and will see it anyway. How it will rate you or affect your coverage depends on how strict the company is.
Term is also a great way to make sure you are protected for those of us who can not afford WL. While it may run out before your life is over, you may convert a portion of the term to WL w/ out penalty.
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| Posted 7/25/07 5:06 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: Need help re Life insurance & medical issue
Posted by Smiley
My DH used to work for NYL.
Please note, WL insurance does NOT work for everyone. You can ask 1,000 people which type is better and you will get 1,000 different responses. .
Suzie Orman says NO to WHOLE LIFE...so if you think she knows her stuff, that might be significant to you.
I personally agree, term is better for most situations.
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| Posted 7/25/07 5:07 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14007 total posts
Name:
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Re: Need help re Life insurance & medical issue
Posted by Goobster
Posted by Smiley
My DH used to work for NYL.
Please note, WL insurance does NOT work for everyone. You can ask 1,000 people which type is better and you will get 1,000 different responses. .
Suzie Orman says NO to WHOLE LIFE...so if you think she knows her stuff, that might be significant to you.
I personally agree, term is better for most situations.
A lot of professionals in the industry can't stand her. She sells books now and her objective is selling those books and her lectures but is she was still brokering...her tune would be completely different. I take everything she says with a grain of salt.
Message edited 7/25/2007 5:13:50 PM.
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| Posted 7/25/07 5:10 PM |
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2girlsforme
LIF Adult
Member since 8/06 3071 total posts
Name:
XXXXXXXXX
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Re: Need help re Life insurance & medical issue
Posted by Blu-ize
It will come up on the MIB. Medical information bureau. Don't lie. Personally, I would wait.
This happened to me..not quite the same story though.
I went to up my life insurance at work past the limits w/o a medical report. So they needed disclosure. I waited until after surgery I had to apply for it. Glad I waited.
eta: good luck with your testing. hang in there.
In a prior life, I had an insurance license, though I never sold. This is 100% correct. Don't lie, I too would wait it out.
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| Posted 7/25/07 6:27 PM |
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kindaworried
LIF Zygote
Member since 7/07 6 total posts
Name:
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Message edited 11/19/2012 9:59:13 PM.
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| Posted 7/25/07 7:41 PM |
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Snozberry
I might steal your diamonds
Member since 2/06 4680 total posts
Name:
Melissa
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Re: Need help re Life insurance & medical issue
This is somewhat of a sidebar - how many lesions are there?
Are you going for your MRI in a new facility, so that someone new will be reading the results?
Good luck on your spinal - please be sure to take it easy that day and the next.
Also - make sure that you get tested for Lyme disease. It's also known as the great pretender and can mimic symptoms assosiated with MS.
I wish you all the best.
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| Posted 7/25/07 7:45 PM |
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kindaworried
LIF Zygote
Member since 7/07 6 total posts
Name:
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Message edited 11/19/2012 9:59:43 PM.
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| Posted 7/25/07 7:55 PM |
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