For those with health issues and other pre-existing conditions that will make It unaffordable to pay the premiums, there are some options. I have pretty severe Crohn’s disease and Gastroparesis, along with several other related issues and 20 plus surgeries, which I thought made the thought of life insurance, nearly impossible on their own, and a joke together. I am so blessed to just be here and be a father, but when the Crohn’s hit and changed my life and career aspirations, I seriously thought any life insurance chances were gone. There were some predatory or very expensive policies, but most were nearly impossible to ever get a pay out and not with the high premiums. It was better to invest it in my own investments, CD, ect.
Fortunately, my wife decided to go back for a 2nd college degree, and became a RN. This decision was great for her and for us, as she found her calling, and also because her company allows her to purchase life insurance for both of us, without a health exam. Many companies have this option, and it should be taken advantage of, when offered. Every year that she is with the company, her policies further vest, and we increase the policy by about $50,000-$100,000, for just a a couple $$ more, per paycheck.It is nice knowing that we can purchase around $1 million for her, and about $350,000 for me, for less than $20 a month, even with my health problems. I wish I could give her more in my death, but that will go a long ways. We can also purchase policies through our credit unions, loan and mortgage insurance on our home and vehicles, accidental/disability through her work, and still invest on our own. When, after a 13 year infertility battle, we were blessed with 2 children through IVF, those life and other insurance becomes more and more valuable, especially after seeing her 45 year old brother pass, 2 month ago.