Aneurysm surgery vs life insurance

[Bigred]

Does anyone else find it interesting that we're all told we have to wait for the magic number of 5.5cm to have surgery for an ascending aneurysm but aren't eligible for life insurance in the meantime?

Actuarial Sciences derive the formulas to determine risk in these instances.With the exception of life insurance policies offered through an employer equal to your pay, which by the way you can generally only get as a new hire, we're ineligible for coverage until after surgery. And even then, we'll have to wait between 5 - 7 yrs after surgery to get coverage.(most companies assess open heart surgery with the same risk as heart attacks).

Yet we have to wait months, years, and even decades for the surgery.

Full disclosure : a bit disgruntled since I looked into increasing life insurance coverage during my open enrollment period at work.

 

[ALLBETTERNOW!]

It's a bad situation I am working on too. Fortunately I have a 500 k policy in place but it's term and the yearly premium can go up to what ever they are charging people for new issues at my age, 50. Luckily my health rating was looked in for his policy when I applied 10 years ago but I am afraid the premium will skyrocket. I am looking into more permanent insurance but no luck so far having has an aneurysm repair and AVR and a stroke the year before. If there is an answer. Please share! I am self employed in the US so large group insurance is not an issue.

 

[dick0236]

It's a bad situation I am working on too. Fortunately I have a 500 k policy in place but it's term.......................If there is an answer.

Your 500K term policy should have a "conversion" feature that will permit you to convert some, or all of the 500K to a permanent form of insurance without qualifying medically. Convert what you can afford and leave the rest as "term insurance". At 50 the cost of a "permanent" policy will be significantly higher than the "term" cost.....but the premium will be locked and will begin to grow a "cash value". I faced this problem and "bit the bullet" in my 50's.......and my policy now has gained enough "cash value" that it is now "paid up" and I no longer have to make a premium payment to keep the policy in force.....which is a plus at age 80.

PS: In todays low interest rate environment the return on a life insurance policy is probably competitive with most fixed income investments. I haven't looked lately, but life insurance used to have a "guaranteed" return of 3-4%.

 

[ALLBETTERNOW!]

Your 500K term policy should have a "conversion" feature that will permit you to convert some, or all of the 500K to a permanent form of insurance without qualifying medically. Convert what you can afford and leave the rest as "term insurance". At 50 the cost of a "permanent" policy will be significantly higher than the "term" cost.....but the premium will be locked and will begin to grow a "cash value". I faced this problem and "bit the bullet" in my 50's.......and my policy now has gained enough "cash value" that it is now "paid up" and I no longer have to make a premium payment to keep the policy in force.....which is a plus at age 80.

PS: In todays low interest rate environment the return on a life insurance policy is probably competitive with most fixed income investments. I haven't looked lately, but life insurance used to have a "guaranteed" return of 3-4%.

thanks, but unfortunately I am outside the conversion period under my policy. I would do it if I could. sadly after I found out that I had the aneurysm and needed AVR one of my happiest days was when I found out the policy was still out there and the premium for this year was "only" around 725. seems I am stuck for now and a their mercy each year to see what the premium is, They can't drop me and are supposed yo charge me only what they charge other in the preferred class which I would no longer qualify for. At some point it will become a very tough call but hopefully my kids will be done with college and my house will be paid off or down. on the bright side my wife works for the govt so she will have a nice pension and my SS survivors benefit if SOC Sec is still around then.

 

[W. Carter]

Wow, I knew that the 5.5 cm measurement that surgeons use as a guideline for surgery. But I had no idea that insurance companies were using it to deny operation benefits. I remember I thought that I would try aetna through a job I had even though I had been using the V.A. for years. I thought that it would be better using private doctors and hospitals. It wasn't, V.A. was just as good and a lot less running around. At the V.A. everything is done in the hospital so you don't have to run here and there to get things done and it is free.

 

[ALLBETTERNOW!]

Wow, I knew that the 5.5 cm measurement that surgeons use as a guideline for surgery. But I had no idea that insurance companies were using it to deny operation benefits. I remember I thought that I would try aetna through a job I had even though I had been using the V.A. for years. I thought that it would be better using private doctors and hospitals. It wasn't, V.A. was just as good and a lot less running around. At the V.A. everything is done in the hospital so you don't have to run here and there to get things done and it is free.

My nsurance covered at 4.9 but I had other things going on like a bad valve and afib too