Life insurance
- Thread starter Spence watts
- Start Date
G'day Spence...
There're literally(?) a million life insurance companies
and their policies out there, so it's next to impossible
to recommend one or the other as being better or worse.
It depends nearly entirely on your personal circumstances
and your current age, and of course the country you live in.
At age 78 I don't have any life insurance, as I have no
dependents and am financially comfortable.
I think the main thing is to not to overestimate the dollar
value of the final payout that your family or dependents
would—in actuality—need, and therefore pay higher
premiums than are really necessary now. The other thing
is to read the fine print with a magnifying glass, as all too
often there are so many "ifs", "buts" and "maybes" hidden
in all those pages of terms and conditions, or their Product
Disclosure Statement, as it's often called.
And as a cynic, I understand that insurance companies are,
naturally, in the game in order to make money for their
shareholders—they certainly don't, genuinely, have your
personal interests at heart when they sign you up.
Normally, and assuming you're less than retirement age, you
won't be denied life insurance simply because you have T1
diabetes, although you'll most likely pay a higher premium.
—Hope this is of some help mate.
There're literally(?) a million life insurance companies
and their policies out there, so it's next to impossible
to recommend one or the other as being better or worse.
It depends nearly entirely on your personal circumstances
and your current age, and of course the country you live in.
At age 78 I don't have any life insurance, as I have no
dependents and am financially comfortable.
I think the main thing is to not to overestimate the dollar
value of the final payout that your family or dependents
would—in actuality—need, and therefore pay higher
premiums than are really necessary now. The other thing
is to read the fine print with a magnifying glass, as all too
often there are so many "ifs", "buts" and "maybes" hidden
in all those pages of terms and conditions, or their Product
Disclosure Statement, as it's often called.
And as a cynic, I understand that insurance companies are,
naturally, in the game in order to make money for their
shareholders—they certainly don't, genuinely, have your
personal interests at heart when they sign you up.
Normally, and assuming you're less than retirement age, you
won't be denied life insurance simply because you have T1
diabetes, although you'll most likely pay a higher premium.
—Hope this is of some help mate.
