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Life insurance - are we insurable??

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#1 Happycat


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Posted 15 November 2011 - 08:11 PM

Need some help from some life insurance experts out there, figure this group is big enough to have a few. 

I just did my open enrollment at work.  I have 3X my salary in supplemental life insurance through work, which used to be cheap, but now that I've hit the magic age of 45, the cost has doubled to $72 per month.

I also have a term life policy through SBLI that we got back in 2001 or so.  Cost for me right now is $85/mo.

Total that up, and I'm shelling out $150+/mo for life insurance.  I really just want term insurance for the kiddos, at least until they are age 22-25, to get them through college.

If I asked SBLI to quote me a new rate to roll the 3X salary into my term life so I can drop the supplemental life at work, will they let me?  Or am I uninsurable now?  (Untouchable??)  If they would insure me, would it be astronomically expensive?  If I even raise these questions with SBLI, would they be able to drop my term life or raise my rate if they find out I have leukemia? 

I don't know if the insurance industry recognizes the vastly improved lifespan for the average CMLer.  Nor do I know if they recognize a difference between different types of leukemia.

Would appreciate if anyone with knowledge/experience could respond. 



#2 Trey


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Posted 15 November 2011 - 09:40 PM

Generally, insurance companies do not like the terms "leukemia" or "cancer".  And they do not understand 3 log reductions or PCRU.  But, your current quotes are very high, and you may be able to shop for better coverage at the same high rate, even with CML. 

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