Darn Insurance, and Darn CDA.....

Injecto · #1 (**permalink**) 03-07-2007, 06:46 AM

Man am I ticked....

That Canadian Diabetes Association (who basically do nothing for diabetics) brags how they got "Ingle Insurance" on their side to help diabetics get life insurance. Well, I thought "great", I'll apply and make sure my family is taken care of when the inevitable happens. Well hot ****, just got back the assessment and they want me to pay $432/month....YES. that' s per month. That's over $5,000 per year.
I know the are gouging me because my premiums for life insurance pre-diabetes is WAY less than that, but of course I didn't have enough before I was diagnosed. So, once my ticket is up my family is up a certain creek. The CDA has basically done nothing better for diabetics in this regard. Heck, most diabetics are trying to just survive by paying for supplies needed today to live there's no way this gives them a break, so again, no life insurance either.

Really, there is just NO break with this disease. Again perhaps it's just because I'm still new and only 5 months into it, but ****, it seems like evertime I get a bit more comfortable/accepting of this stupid disease something else wrong about it comes up, re-inforcing that life is NOT ever going to be normal as it is with 90% of the rest of the population.

Yes Yes, I'm done my rant now (aren't we allowed 1/month?

). Thanks to those that listen.
Sorry, I'm just one p*ssed muther today......

soso · #2 (**permalink**) 03-07-2007, 06:59 AM

Hi I
I agree the CDA sucks..and def. so do insurance companies....
But I noticed a theme that I picked up on in your other thread about what you are worth...
"when the inevitable happens"

yes, we will all topple off the roost one day..and yes, your A1c at diagnosis would make the likelihood of that being premature...but Injecto!! your A1c is 6.1 now! and you are so new to D...you will pick up many more tricks to managing your bg in the coming years...
NO reason for you to feel fatalistic my friend.. there is a thought that gettig Diabetes makes us healthier, as we KNOW we have to work at good health..
Granted we will prolly be impoverished by this bloody disease, but doubt we will have an early death from it..
Chin up...
ss

princesslinda · #3 (**permalink**) 03-07-2007, 07:00 AM

Gosh Injecto, I know what you mean about life insurance for diabetics...impossible. What we've done is this: I have 2 x my annual salary at work (for as long as i'm working, otherwise, $0).

When I was diagnosed, we started putting "X" into a mutual fund each month, just as if we were making an life ins. policy payment. Hopefully, by the time I "kick-off," there will be a significant amount there for hubby. We've got a good 20 year level term ins. policy on him, as he's healthy right now (we did this AFTER my diagnosis,as it was a wakeup call).

Also, when we bought our house, we paid extra to get life ins. on it...where if one of us dies, the house is paid for.

You're young, if you start putting even 1/2 or 1/3 of the amount the policy would cost you in a mutual fund or good interest account, you'll have it and you won't have to die before you or your spouse/children, whomever, can benefit from it in the future.

JediSkipdogg · #4 (**permalink**) 03-07-2007, 07:03 AM

I think I'd pass on that and do a private investment. Heck, 20 years of that (and remember, premiums do go up) is $100,000. That's way more than most really ever need in life insurance. Especially if your partner works and you have some savings account already.

Injecto · #5 (**permalink**) 03-07-2007, 09:51 AM

Quote:

Originally Posted by JediSkipdogg

I think I'd pass on that and do a private investment. Heck, 20 years of that (and remember, premiums do go up) is $100,000. That's way more than most really ever need in life insurance. Especially if your partner works and you have some savings account already.

You know what? That is a great idea to look into. I would have never thought about it from that perspective (to not go with insurance but investments). Thanks for the idea, and that way I don't have to worry about any of those depersonallizing health questionairs/checkups etc....

Thanks Jedi.

JediSkipdogg · #6 (**permalink**) 03-07-2007, 10:10 AM

Quote:

Originally Posted by Injecto

You know what? That is a great idea to look into. I would have never thought about it from that perspective (to not go with insurance but investments). Thanks for the idea, and that way I don't have to worry about any of those depersonallizing health questionairs/checkups etc....

Thanks Jedi.

I don't know how old you are but if you start at only $200 per month now and every year increase it by $10 per month....then in 30 years you have $124,000 without interest. Add some interest to that, and you have a very hefty amount.

I understand the purpose of life insurance, but personally, it's all a waste and it just leaves a headache of paperwork for your partner to fill out. Not to mention, depending on why you die is if it will or will not cover you. My grandfather had 5 life insurance policies (we have no idea why) and only 2 paid out on his death from a heart attack. The rest were wasted money.

cheryl · #7 (**permalink**) 03-07-2007, 10:14 AM

I also want to chime in savings plans, and 401k's stock options, I know health insurance is quick if something happens in months, but saving money will help too....

Don't worry, this really isn't a death sentence, honestly far from it, I never thought my life was being cut short by it, I refuse to and I won't but yet again I was 12 and this became my way of life and you were obviously established in your adult life to get this smacked in your face, I can completely understand, There is this guy on another forum who is 61 yrs old with only mild case of neurothopy, and he has had the D since he was a child, so look at that, and he had it back in the days where, it was nearly imposible to keep good control......

I just hope you are doing ok, I know all the blows that come from this, but think you catch an illness, then you are forced to look at how you eat and change things around, isn't that better then going down a road of not paying attention and dying of a massive heartattack when you are 50, instead with eating habits such like a diabetics, we tend to cut our risks quite well, with just our knowledge in itself. I don't know if you believe in god, but I think God knows how much you deep down cherish your life, with your family, maybe the change in your life in some way has changed what your future would of been.....

Take care and it is always good to rant and get it off your chest.

Cheryl

LancetChick · #8 (**permalink**) 03-07-2007, 10:41 AM

I would also suggest that you make sure you understand the tax laws before you put money into an investment that will, upon your demise, enrich the government if it is declared an inheritance (it would in the US, anyway). A financial planner could help you minimize the eventual tax blow. It's all very complicated, and I just grin and bear the pain of paying professionals to do my homework when it comes to taxes.

JediSkipdogg · #9 (**permalink**) 03-07-2007, 10:54 AM

Quote:

Originally Posted by LancetChick

I would also suggest that you make sure you understand the tax laws before you put money into an investment that will, upon your demise, enrich the government if it is declared an inheritance (it would in the US, anyway). A financial planner could help you minimize the eventual tax blow. It's all very complicated, and I just grin and bear the pain of paying professionals to do my homework when it comes to taxes.

If you do it in say a joint account with both names and one takes it out before it's noticed, then you can avoid that tax fee.

andypoo · #10 (**permalink**) 03-07-2007, 11:36 AM

Injecto, If you don't mind my asking,do you not have insurance through your work? Over here in U.S.A. At Chrysler,my husband is now retired but they still have a life insurance that if something happens to him,our house would've been paid for and some chump change for me and the kids. Thank God nothing happened and eventually we paid off the house the truck and car,etc.Now we pay a small premium for life insurance it's taken out of retirement check. But of course my husband didn;t have diabetes,but there's lots of guys at Chrysler and many other factories that have diabetes,heart disease,lots of other things that have the same coverage.Most non-union work places have a 401k plan,or other retirement plans,the employees can join. Gosh,over here people complain about insurances,and they always say "I'm moving to Canada",they have good insurance over there,is this not true?

Injecto · #11 (**permalink**) 03-07-2007, 11:59 AM

As wonderful as Canada is, trust me, it's all business when it comes to insurance (and many other things). Even health care is starting it's move more towards private health because those with $$$ have learned that they can get what they want faster and better if they can afford it, which widens the gap between the rich and poor with health and poor health.

Here in the GTA, there is no benefit on the insurance front than in any other place, as evidenced by my recent insurance issues.