About 2 months ago I (41M) applied for a 20 year term like policy for $2M. It was through a major insurer you’ve all heard of. No medical exam was required. They ordered my doctor records and after 3 weeks of applying I was approved at $180/month preferred rates. That was the third week of February. I didn’t lie about anything and they definitely did order medical records, I know for sure.

Last week I started feeling very sore in my abdomen, like sharp stabbing pains. I went to the doc and they did an ultrasound. They called me yesterday morning and told me to come to the docs office right away. I knew it was bad.

Pancreatic cancer. Stage 3. Life expectancy with treatment 6 month. I’ll be lucky if I make it that long. Just since last week I’ve gotten sicker and sicker each day. Amazing how fast this came on. I’ve never had any health issues.

I have a wife and young kids. I don’t want to die but the chances are like over 90% I’ll be dead in months so I’m a realist. My main area of concern is my family gets the life insurance benefit.

Is there any chance of the life insurance company not paying since I got sick so soon after I bought the policy? I need to know they’ll be financially taken care of. I make a lot more money than my wife so she will need the financial help.

Any feedback is appreciated.

Folks,

A family friend, who had asked my mother to create a life insurance policy for her, with the policy to be used to defray funeral expenses, has died. My mother passed away many years ago. She changed the beneficiary to me; I've continued making the premium payments.

The family friend was a Mexican citizen, and legally worked in the U.S. for many years. She retired in Mexico, and collected social security thru a U.S. bank and used an ATM card to collect her monies.

She died this past month. Her relatives are of extremely modest means and don't have the resources to obtain a death certificate for me (transportation to government offices, cost to take time off work, etc).

I've asked the insurance company for their process to collect on the policy when obtaining a death certificate is nearly impossible.

Do any of you have advice? I fear the insurance company can use the circumstances to stall, heck, indefinitely

Title pretty much says it all. My wife (35f) had a heart attack about a year and a half ago. All medical tests resulted in no findings, she was cleared for surgery recently, doctors believe it was due to a lingering infection/virus (can't remember the medical term for it).

Prior to this, I kept putting off getting her a small life insurance policy (just enough to cover her remaining student loans, credit cards, etc). I spoke with my Erie Insurance agent last week, and he said she is pretty much un-insurable for the next 10 years. He did say Gerber might have a policy she might qualify for, one where I start paying now but if something happens in the next 2-3 years the policy is cancelled.

I'm wondering if there are other options out there I can look into? Thanks.

Edit: I'm in Pennsylvania.

In 2013, my dad bought me a whole life insurance policy with a death benefit of $250k for $200 a month. I didn't know much about finance at the time, but just trusted my dad so I've continue to pay it for the last 11 years. I've briefly looked at it over the years and didn't give it much thought, but this week I've started looking closely at my finances and I was shocked to see just how awful this policy is.

First of all, I've paid $28k into it over 11 years and the cash value (and cash surrender value) is only $22k. So basically after 11 years my "investment" is down $6k. This is over the same 11 years the market made a great recovery from 2013-2019 and then again after the pandemic.

One of the "perks" of this policy is that you can use it to take loans out for less than the market. I have a car that I'm currently paying off at 7.1% APR. So I checked to see if I could get a loan from my life insurance policy which should have a lower rate, right? NOPE! It's 7.4%!

I'm kicking myself because if I had just bought the S&P for $200 every month for the last 11 years, I'd be up 20k, instead I'm short 6k.

Now I'm trying to figure out what to do. I definitely want out on the policy and I'm going to buy myself a 1-2 million dollar term policy and probably pay less a month, but what do I do about this? Should I cash out? Should I take out my money as a loan and default on the loan? I feel so scammed right now and want to get as much money out as possible before I give any more of my hard earned dollars to this garbage investment.

Hey everyone,

I recently decided to close my art store. I was wondering a few things. The art gallery I had was at a very slow mall and I decided I’d start selling insurance. Possibly getting my license in other states as well. I’m studying now and I’ve taken the exam 7 times in early February and March. Couldn’t pass it. Sucks and it’s embarrassing I was hoping to use it as a secondary income.

I’d prefer to travel and do calls while I’m in the road photographing and when I’m in town Interact I’m planning to get 4 licenses, life, health, auto, home.

I’ve seen the commissions, it’s way better than selling art or martial arts ( I own a school as well ).

In order to make a decent living, what should I expect? My other business art and martial arts mostly do better at night anyways.

1. What are the days like what should u be doing?
   
2. Do the leads from your insurance companies actually convert ?
   
3. From let’s say 9am-4pm what is a typical day and work flow. What should I be doing to max my results in earnings?
   
4. Since I’ll be an independent agent will have time to be on the road and travel ?
   
5. I’ve seen insurance agents that have files on there houses for years. Is there a CRM for this? Or does your agency usually store them.
   
6. I hear the busy season for health is November ? Because everyone is renewing, would the other licenses keep me afloat ?
   
7. Once I get my license what are some common mistakes beginners do so they don’t end up in a bad situation ?

Thanks everyone.

I'd like to consider getting a life insurance policy for my mother. She was born in February 1971. She's an on/off cigarette smoker but reasonably healthy (physically). No serious health issues, not overweight.

She has no assets, job, or bills so I'm not looking to replace her income. I just want to know if it would be financially prudent to get a policy - simply to put my family in a better financial position when she does inevitably pass away. She is the one who put the idea out there so I would absolutely have her participation with a medical screening and things like that.

My life insurance policies are with Hartford (through my job) and State Farm. Not sure if that's relevant though.

I've looked around the internet and I feel like the advice goes in every direction, so I'm hoping someone more educated can tell me which direction I should be looking in.

Ok so I have been reading and learning about term insurance for a while and I came across opinions where people state that maximum age of cover should be 65 to 75 years as by then you'll not have dependants in most cases.

But here's my take.. Say I've taken a plain vanilla term insurance till the age of 85. My premium will be a little more than that of cover till 65 to 75 years of age. But given the current life expectancy I'll most probably not live by then. So it's almost certain that my nominee/ dependant will receive the payout and will give them a good financial cushion over their existing income.

So a little higher premium might lead to almost certain payout for them.

Open to discussion and varying opinions.

had a child recently. and I have a ~500k policy through my employer.

Do I need something additional, if the policy is ”portable”? I believe if I leave the job, im able to keep the policy if I continue paying on it.

Im just curious if that’s enough. my wife works, also has a policy.

I just posted this somewhere else, but I wanted to get opinions from all walks of the insurance realm on reddit, so here's what I wrote:

I just recently had an overview with the financial advisor, and paid for a background check/licensing and all of that stuff.. it was around $124 and I kinda regret the amount I paid, but whatever.. they hired me on for a remote position, and I have a one time in person class to go to at 8:30am tomorrow.

I thought I did enough research on the company but apparently not, as after I already went through with it, I'm now finding out that it might be a pyramid scheme?? Not only that, but it's also rumored to focus less on helping clientele and more on recruiting more and more employees..

I really want to help people, that was my idea when coming into the insurance industry. I just graduated high-school and have 2 years of statistics and data entry via what I studied my last 2 years, and I don't want that to go to waste all because I fell for the kindness and smiles they showed me. Not only that, but I even managed to get employee feedback from people already working in the company (though this leads me to believe they might have lied to me..)

Am I getting screwed? Is there a way for me to climb to the top regardless while keeping my kind heart and pure intentions? The thought of scamming other people for profit makes me feel sick..

I have been completely blind sided after my mother’s recent death.

Her father was a State Farm agent. He took 2 life insurance policies out for her when she was 15 yrs old.

Now, I learn, after 55 yrs of faithful payments, the value is a total of $24,000….just a few thousand more than what was paid in. So they truly leached off of us all this time.

I am both horrified and devastated on top of the recent loss. 🥲

If Khamemei had a typical US life insurance policy and he was killed by enemy action in an undeclared war, whould the policy pay ?

I met with a financial advisor last week and she asked if my wife and I had life insurance and of course I said yes. We have Term to 80. Now at the time I did not understand too much the complexities and differences of whole life v term, and now I am questioning my decision prior.

I am 31 y/o male, actively workout, and the main provider for my family.

We have 1 child and my wife stays home.

My question is, should I switch to whole life? Is term to 80 actually good to stick with, or should I get 20 or 30 y?

Any advice helps!

My husband and I finally sat down last weekend and realized neither of us has real life insurance and that freaked me out a little. We have two kids under 6 and a mortgage, so if anything happened to either of us the other one would be drowning pretty fast trying to cover everything alone. I want something that's not going to cost a fortune every month but actually pays out without a headache for my family when they need it most.

For anyone here have a company they'd actually recommend based on real experience, I want to know whether good or bad.

Crazy to say but I found out last night that I have a life insurance policy that I never signed up for. I was looking through credit card statements on a card I rarely use. It’s defaulted on my Amazon account and I purchase a lot of stuff along with my health insurance. It’s from allstatesolutions who I didn’t know and when I looked it up it said life insurance. When I searched my email I see documents from them and I was able to login to a portal and look at the application. A decent amount of the questions are blank and the beneficiary portion is also blank. It shows my name typed with a date. When I did further investigation it coincides for right when I signed up for private health insurance! Looks like the broker is exactly the same but these are 2 completely separate companies not affiliated with one another. To add more context I’m a travel nurse who’s in a different state for the majority and pretty much all of the year for the past 2 or so years. All my mail goes to my reg address in MS. I’m at a loss for what to do. How would life insurance policy even be approved if I didn’t answer questions about my lifestyle or smoking. Why would I have a life insurance policy with no beneficiaries. In some other paperwork I found it lists “family” as the beneficiary. I signed up for my health insurance 3 years ago and it looks like I’ve been paying the premium, a little under $20 a month for 3 years! What can I do?

UPDATE found out who my grandfather life insurance is under and he made a payment few days before he passed. I’m going to call them and ask if he left me as a beneficiary.

Before my grandfather passed he told me he left a $10,000 life policy for each of his grandchildren. He explained to me that my uncle whom I don’t get along with is his successor.

It’s almost been two months since my grandfather passed so I reached out to my uncle about the policy. He immediately got defensive claiming it’s all his money and never responded to my inquiry.

Any advice on what I should do next ? I have a feeling my uncle cancelled my policy because we do not get along and he was jealous of me and my grandfathers relationship.

I really need help on how to handle this since my uncle is not mature enough to handle this correctly.

My father passed away a little over a month ago. He didn’t have a will so we’ve been dealing with a lot of things we know nothing about.

We have contacted his employer and they gave us life insurance information so we were able to get in contact with the company. They have an option to payout the policy into a secure account with their own partnered bank or something. It seems like it’s basically a savings account that has interest and we’d be given a checkbook where we could withdraw whenever.

The other option is just the whole lump sum in a check that we just cash to our own bank. I’m not sure if there’s a right answer here? I’m not sure if we should just compare interest rates to our bank? Just check if the bank is FDIC insured? From what I can tell life insurance isn’t taxable but the interest on it is?? Is that even true? Are there other aspects to consider?

I have a relative who just got married and he’s trying to find term life insurance and I wanted to try Reddit for help.

He was convicted JUST over ten years ago, it’s the only charge on his record, but it came with a pretty lengthy stint of probation afterwards.

He could be off probation in 2 months or 3 years. He has no other criminal record and no probationary issues. Perfect health for being in his 30’s, married, volunteers at his local church, never been unemployed.

I guess because he’s on probation, he’s being told it’s an absolute no-go.

He has no pre-existing health concerns, never used anything, and takes no medications.

He has while life through work, if that matters!

Edit title: Only one felony…

Any help would be welcome! 🙏👍

Hey guys, my monthly insurance premium is around Rs 1500 and I was wondering if there's any way to get some cashback or rewards on it.

Right now I don't have any proper cashback cards. I only have the

SBI SimplySave card,

a Slice card, and

usual UPI apps.

Is there any trick or specific way I can use my current cards/apps to get some benefit on this?

Also, what are the best options out there in the market right now for insurance payments? I'm open to getting a new card if it makes sense, just want to know what strategies people are using these days.

Background:

• Age: 23
• Salary: ~₹6 LPA
• BMI: 28 (Slightly overweight, so anticipating potential medical checks/loading)
• Dependents: None currently. My father will receive a pension after his retirement, so he will be financially independent.

Current Quotes & Options:

I have checked with Ditto and Policybazaar, and I am also planning to schedule a Beshak consultation. Based on my salary, here is what I am currently looking at:

• HDFC Life (Click 2 Protect Supreme Plus): Max coverage of ₹1.9 Cr.
• Bajaj Allianz (eTouch II): Max coverage of ₹1.3 Cr.
• ICICI Pru (iProtect Smart Plus): Oddly, I am not getting any offers on Policybazaar for my current salary range.
• Tata AIA (Sampoorna Raksha Promise): I've heard good things about their claim settlement and customer service.
• Axis Max Life (Smart Term Plan Plus): Highly rated, but wondering if they are strict on underwriting.

My Dilemmas & Questions:

1. Should I buy now or wait? Since I have no dependents right now, does it make sense to lock in a policy at age 23, or should I wait a few years?
2. Coverage Amount: Should I max out the ₹1.9 Cr cover right now, or should I take a smaller cover and buy a new/additional policy later when my income increases and I actually have dependents?
3. Smooth Underwriting Process: Given my BMI is 28, which insurer has the most hassle-free underwriting process? I want to avoid endless back-and-forth and get a fair assessment without unreasonable premium loading.
4. Policy Tenure: Until what age should I take the cover? Is 60/65 enough, or should it last longer?
5. Riders (WoP & CI): My preference is to get a Waiver of Premium (WoP) and a Critical Illness (CI) rider. Are these actually useful/necessary for a 23-year-old?
6. Which Broker/Platform? Should I go with Ditto, Policybazaar, or Beshak?

Any insights or personal experiences with the underwriting process of these companies would be really helpful. Thanks in advance!

My father died and a subsidiary of Chubb paid out a claim. I am trying to get a simple tax form from them for the payment (IRS Form 712) and it’s a nightmare.

My dad had two other policies with different forms and I got the forms within 48 hours.

With Chubb, I have had to call 3 times over 3 weeks and still nothing. No form. No answer. Just, “we notified someone”

This is a required tax form for any death benefit. It’s like a bank sending out a 1099 for interest in your account.

It’s not that hard, but Chubb is a nightmare.

Anyone else have client service issues with Chubb? And any ideas for solving this? I have already sent an email to customer service and asked for a call with a supervisor.

There have been a lot of commercials from companies offering to buy you life insurance policies.

I'm 68 and have a $250,000 policy.

Can someone explain what this involves and the repurcussions of the offers.

Would I be able to purchase another policy, would I have to continue to pay the policy I sold?

Hi everyone,

I'm 27M, married, non-smoker/non-tobacco user, and currently looking to buy my first term insurance policy.

I'm considering ₹3 Cr life cover till age 65, regular premium payment, annual payment mode, and no paid Return of Premium (ROP) unless there is a worthwhile free/special-exit benefit.

I've shortlisted these 3 plans based on quotes I received:

ICICI Prudential

Plan: iProtect Smart Plus

Cover: ₹3 Cr

Policy Till: 65 years

Annual Premium: ₹26,644

ROP / Exit: Full refund option starts at 65

HDFC Life

Plan: Click 2 Protect Supreme Plus

Cover: ₹3 Cr

Policy Till: 65 years

Annual Premium: ₹31,877

ROP / Exit: Full refund option starts at 60

Axis Max Life

Plan: Smart Term Plan Plus

Cover: ₹3 Cr

Policy Till: 65 years

Annual Premium: ₹25,317

ROP / Exit: Full refund option starts at 67

Benefits shown in my quotes

ICICI Prudential

100% payout on terminal illness

Option to delay premium for up to 12 months

₹3 lakh immediate payout on claim

Free health check-up up to ₹67,100

ROP option

HDFC Life

Early payout on terminal illness

Option to extend policy at maturity

Option to delay premium for 12 months

₹5 lakh immediate payout on claim

Free health check-up up to ₹63,000

ROP option

Axis Max Life

Early payout on terminal illness

Option to delay premium for 12 months

Waiver of premium on terminal illness

₹2 lakh immediate payout on claim

Free health check-up up to ₹50,000

Special/free exit benefit

ROP option is available as a separate variant

My situation

Age: 27

Male

Married

Non-smoker/non-tobacco

No existing term insurance

Annual income: around ₹18 LPA

Planning for a house and children in the future

Looking for pure protection, not investment

Comfortable paying premiums annually

Planning to hold the policy long term

I'm currently leaning towards ICICI and Axis Max Life because of the lower premium, but HDFC also seem strong.

What would you choose among these three?

I'd especially appreciate opinions based on:

Claim settlement experience

Claim amount settlement, not just claim settlement ratio

Customer service

Policy wording/exclusions

Terminal illness benefit

Free/special exit or ROP benefit

Any issues during actual claims

Whether the extra ₹6.5k/year for HDFC over Axis/ICICI is worth paying

Also, should I add any riders, such as waiver of premium, critical illness, disability or accidental death, or keep the term plan completely simple?

I'm planning to purchase the policy shortly, so real experiences from existing policyholders would be very helpful.

Basically the title, I have guaranteed insurability rider that my mom got me when I was a child. Due to a medical condition I can’t get any additional insurance so this rider is very helpful to get increases in insurance. I followed the process but my agent filled it incorrectly and it’s been denied and they won’t budge/ fix on their side.

What are my options? Her suggestion was to go through a regular medical exam but I know it will be declined and the reason we got this option was to avoid that. Should I file a complaint with the company?