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Life Insurance

colleen40
colleen40 Member Posts: 6
5 Care Reactions First Comment
Member
in Caring For a Spouse or Partner
Unfortunately I had to cancel an expense policy when my husband lost his job. At that time I didn't know he would be diagnosed with ALZ. Now I'm having trouble just getting a basic policy for him. Can anyone offer some help? He's 65. Thanks, CM

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  • SDianeL
    SDianeL Member Posts: 3,237
    1,500 Likes 1,000 Insightfuls Reactions 2500 Comments 1,000 Care Reactions
    Member

    So sorry. Here’s what I found

    Getting life insurance after a dementia diagnosis is possible, but options are typically limited to 

    Guaranteed Issue Life Insurance

    These policies do not require medical exams or health questions, making them ideal for pre-existing conditions, though they have higher premiums, lower coverage amounts (usually up to $30000–$50000), and a 2–3 year waiting period before full benefits are paid. 

  • colleen40
    colleen40 Member Posts: 6
    5 Care Reactions First Comment
    Member

    Thank you…I will look into this. Something is better than nothing. Staying strong, Colleen

  • Michele P
    Michele P Member Posts: 380
    250 Insightfuls Reactions 100 Likes 100 Comments 25 Care Reactions
    Member

    Term Life is less expensive than a whole life policy. The amount of coverage will be the same with a lower premium.

Commonly Used Abbreviations


DH = Dear Husband
DW= Dear Wife, Darling Wife
LO = Loved One
ES = Early Stage
EO = Early Onset
FTD = Frontotemporal Dementia
VD = Vascular Dementia
MC = Memory Care
AL = Assisted Living
POA = Power of Attorney
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