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Question:

From Illinois:

I am trying to get life insurance for my 16-year-old daughter. The insurance company, with whom I have life insurance, will not cover her because she is diabetic. I was hoping any parent who has a child with diabetes might know what company offers this.

Answer:

I assume you have been attempting to obtain a whole life policy. No insurer will issue that type of policy to someone with a chronic disease. People with diabetes should attempt to obtain insurance that does not require proof of medical status or insurability. These are more likely to be found in term life insurance policies in moderate amounts. In the case of your daughter, her best bet is to wait until she begins working. At that point, she can purchase a term life policy in a moderate amount through her employer's benefit program. Over time, she can purchase several term life policies in moderate amounts until her financial security needs are met. The policies should always be in amounts below the threshold in which underwriting or evidence of insurability is required. In some states, low cost term life insurance is available through savings banks and credit unions.

DSH

DTQ-20040210080441
Original posting 1 Mar 2004
Posted to Insurance/Costs

  
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Last Updated: Tuesday April 06, 2010 15:09:56
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