Life ins. policy...critical illness rider

[martd]

Just a heads up in case you weren't aware. After being diagnosed I called my insurance agent to check on my life insurance policy. He informed me that I had a terminal illness rider where I could pull out $100,000. He called me back later that day and informed me I also had a critical illness rider, that enabled me to pull out $25,000. It was a quick and easy process. I had a check in two weeks.

[benben]

Just a heads up in case you weren't aware. After being diagnosed I called my insurance agent to check on my life insurance policy. He informed me that I had a terminal illness rider where I could pull out $100,000. He called me back later that day and informed me I also had a critical illness rider, that enabled me to pull out $25,000. It was a quick and easy process. I had a check in two weeks.

Hey That's good to know.

Any chance on getting a life insurance policy post diagnosis? HAHA!
To think, just a year before my diagnosis my insurance agent was pushing me into getting a life insurance policy - but I declined as I always seemed to out yield those growth percentages.

[wandalein]

That is great news. I work in the industry in Canada. When we were a young couple and my husband opened his business we purchased personal disability insurance and of course life insurance, unfortunately I didn't think that we could afford the personal critical illness insurance. However I have seen the critical illness insurance payout often in my role. A great product. As for the personal disability coverage I don't believe that we could have kept our home without it over the past 6 years since my husband was diagnoised.

[martd]

I didn't even realize the riders were in the policy, I've had it for over ten years and didn't remember the details. I'm glad I called my agent. I was actually apprehensive of calling him, thinking with my condition I shouldn't be letting them know.

Dan

[AppleTree]

Most banks in the USA require some sort of insurance policy when you buy a house. I think it is there to mostly protect the bank, but that is another place for people to get out the papers and read it over, or ask the bank if you still have a mortgage

[DBF]

Good for you for finding out!

I bought a big term policy in my early 30s back when I was a single mom with my eldest son. Then, I was diagnosed with stage 10 years later. I put the policy up for sale as a viatical sale through a broker, and some hedge funds bid on it. I sold it for 65% of face value. The buyer becomes the beneficiary. Then, I didn’t die, which is obviously bad for them. They call every six months or so to check on my “status.” The term expires in five years, when I’m 52.