can't get life insur.

[justme2001]

What is the name of your state? NY

My husband and I agreed in our seperation agreement that he would get 250,000 in life insurance. He says no one will give it to him. Here is some background:

He has a history of drug abuse - crack cocaine - I believe he is still using
He has been in rehab several times
He was on 2 anti-depressents which he stopped taking 5 months ago
He has high cholesterol
He is missing factor 9 in his blood so if seriously injured he can bleed out.
He smokes

He says he was rejected ONLY becasue he was on 2 anti-depressents and he is no longer on them. I'm sure the drug history played a part.

My questions are:
1) Is it possible for him to get life insurance at all? Now or in the future?
2) Is it true that anti-depressents put someone into a "high risk" catagory if they have stopped taking them?
3) Any suggestions as far as insurance companys to try?
4) Any idea what would be the average cost for someone who just has high cholest. & smokes? Hes 42 and normal weight.

I was thinking that if he can't get the insurance now he could put what an avarage monthly premium would be for someone who just has high cholest. & smokes into a collage savings account for now if he has to wait a few years before he can actually get insurance. It wont help me if he dies but at least there would be something for our 4 year old daughter that will grow a little bit over the years.

Thank you very much for any thoughts or suggestions! I do appreciate it!

 

[cbg]

1.) If he's willing to pay astronomical prices he can probably find someone to insure him if he looks hard and long enough
2.) It can be, yes. But I don't for one minute believe that he was turned down SOLELY because of the anti-depressants. In my experience, which is considerable, of the medical factors you have listed that is the one that would have the LEAST affect.
3.) We don't do referrals here, sorry
4.) Not remotely. For one thing, "normal weight" for someone who is 5'8" would be completely different from someone who is 6'2". For another, every insurance carrier is going to have their own costs. But based on his medical history, the average cost is going to be well above average, if you get me.

 

[justme2001]

Thank you for your reply. It looks like I'm going to have to start calling around to see if there is a chance anyone will cover him. I bet he never even mentioned the drug history or the smoking.

One last question...say ABC Co. rejected him but they said the were going to...I think the phrase it...farm it out to other companies. If these other companies come back with a rate should he go with them? Wouldn't it be better for us to make calls and research on our own. I'm wondering if the premium would be higher becasue ABC Co. found us another company so they should get a cut? ABC isn't farming it out just to be nice - they have to get something right?

Thanks again and have a great day!

 

[cbg]

You can try, but you know what they say about a bird in the hand. It's also possible that his application would be rejected outright without the assistance of the ABC Co.

 

[Betty]

I was a life ins. underwriter & this history is a definite decline or at least very high premium cost. The co. I worked for would decline on the info you posted. However, there might be a co. that will insure him at a very high rate (& that is doubtful on what is posted) If he can find a co. to insure him, it would be a good idea to accept the coverage no matter what the cost. I don't think he is going to get many offers (if any). The co. I worked for on certain cases we rejected/declined - we would send the info out to several other cos. to see if one of them would make an offer. Sometimes they did - sometimes not.