Shopping Term-stroke Issue

[Sailor367]

Hi, figured a forum was out there for insurance, looks like a great site.

Shopped a bit and appear to be getting hit for an old stroke more than I expected.
It was 12 years ago fully recovered.

Great heath since no other issues at all.

I thought if more than 10 years passed would count that much I was told the rate is 2X because of it. What is the look back?

Called select quote they found trans America 100K for 10 year at $245. age 64, I wanted 15 year said can't be had. My wife no issues was $45.

Aarp sent me a quote for 50K only looking back 3 years for about $100.

I accidentally was seeking just 50K select quote said can't write (don't want write <100K)

Your input would be appreciated.

thanks

 

[JRoot]

You can qualify for Standard life insurance rates if there's no residual effects or symptoms...you just have to use the right company. Check out this article I wrote for more information:
Obtaining Life Insurance After Having a Stroke | Online Life Insurance Quotes | Individual Life Insurance

 

[NinjaNic]

There are plenty of 15 year terms available for $100k of coverage. Not knowing much else about you, I would say you are probably a standard rate now. You need to find an agent to shop you and sent you a questionnaire. I ran a preliminary $100k/15 and see Transamerica at $115/m (again, just a guess without knowing much about you).

Check out www.rootfin.com or www.insuranceblogbychris.com as they focus on imparied risk underwriting.

 

[Sailor367]

tks for the link I'll read it in minute.

PICnic
As far as TA, will they write 50K?

Also in NY now but moving to FL end of the year, any issue with a company if moving?

 

[NinjaNic]

tks for the link I'll read it in minute.

PICnic
As far as TA, will they write 50K?

Also in NY now but moving to FL end of the year, any issue with a company if moving?

Yessir. No problem with the move. If you are replacing another policy, be prepared for a lengthy process--and thank your Congressman!

 

[Sailor367]

Not replacing, both of us would be first time policy holders.

I spoke to 2 agents locally and felt like I was talking to a car salesmen pushing whole life, I just want a reasonable cost policy for both of us.

Which is why I'm researching further, are there more than one type of term policy's of are there any types worth considering.

 

[BNTRS]

Which is why I'm researching further, are there more than one type of term policy's of are there any types worth considering.

This depends a lot on what you're trying to do. If it's simply a desire to have coverage for the next 10-15 years because something is going to happen that will make the death benefit un-needed, there is nothing wrong with term insurance.

Being in NY takes a few low price term companies off the table. I don't see a huge reason for you to wait until you're a FL resident to open up those other companies, but you could put that on the table. Or if you already have a place in FL, those other companies could be in play (if you're going to be in FL sometime soon).

Permanent insurance is going to require a bunch more money and really has a different focus. I'm well known for my love of permanent insurance, but will admit there's nothing wrong with buying term insurance.

There's also guaranteed UL, which is sort of like term to age you choose. More expensive of course, but can be made to last as long as you pay the premium.

As for your question concerning under $100k term policies. Genworth and Transamerica should both be able to accommodate this. If it were my money, I'd be more comfortable with Trans (better ratings).

Standard should be doable.

Also, because you asked, no problem when you move. It'll always be a NY contract, which is actually somewhat beneficial. NY has the "best" guaranty corp in the country, though at $50k, you're not really maxing that benefit.

Oh and if you want a handy tool to compare term quotes, you can go here (not my site by a useful resource), and then go here (my site) to contact me

...I had to make one plug

 

[WinoBlues]

This depends a lot on what you're trying to do. If it's simply a desire to have coverage for the next 10-15 years because something is going to happen that will make the death benefit un-needed, there is nothing wrong with term insurance.

Being in NY takes a few low price term companies off the table. I don't see a huge reason for you to wait until you're a FL resident to open up those other companies, but you could put that on the table. Or if you already have a place in FL, those other companies could be in play (if you're going to be in FL sometime soon).

Permanent insurance is going to require a bunch more money and really has a different focus. I'm well known for my love of permanent insurance, but will admit there's nothing wrong with buying term insurance.

There's also guaranteed UL, which is sort of like term to age you choose. More expensive of course, but can be made to last as long as you pay the premium.

As for your question concerning under $100k term policies. Genworth and Transamerica should both be able to accommodate this. If it were my money, I'd be more comfortable with Trans (better ratings).

Standard should be doable.

Also, because you asked, no problem when you move. It'll always be a NY contract, which is actually somewhat beneficial. NY has the "best" guaranty corp in the country, though at $50k, you're not really maxing that benefit.

Oh and if you want a handy tool to compare term quotes, you can go here (not my site by a useful resource), and then go here (my site) to contact me

...I had to make one plug

one slight correction. Genworth no longer has a 15 year term.

 

[Sailor367]

If I waited until I moved to FL I'll also be 65 at that time so I assume the rate can go up a bit 64 v 65.

Not sure what kind of rate difference there would be from a FL company.

I think we would like a 15 year term

How does TransTerm workout price or other benefits

 

[WinoBlues]

If I waited until I moved to FL I'll also be 65 at that time so I assume the rate can go up a bit 64 v 65.

Not sure what kind of rate difference there would be from a FL company.

I think we would like a 15 year term

Many agents would caution you going with out coverage. Many of us have stories of people waiting just a bit to long. contact a couple of the guys here and ask them to quote you both ways. The companies are going to be similar. Pick the agent that you feel the most comfortable. Someone that will be there for the long haul.

Just my 2 cents.