Mental Disability Insurance

I need to get life insurance for my husband (42 years old. Old) who has a mental disability called Paranoid Schizophrania. We had life insurance for him before, but when he fell ill and had to quit her job, we had hard times. I was the only source of income at the time, and it was just enough for basic needs in life. I could not keep the payments on their insurance. We waited months to hear something from Social Security disability, and this time I had lost his insurance.
When we started getting a little more income from his disability, and applied to different insurance companies for insurance for him, they refuse. They saw people with intellectual disabilities at risk. Insurance companies do not say this for so many words, but when you answer their health questions in truth, and refuse. It is not difficult to understand. We ended up getting the death insurance, but we both took the trouble he can not leave a lot to me and our daughter. I have a policy.

According to the story where he could receive an offer of several companies. The SSI as indicated, it is very difficult, because it indicates a bad business history. I suppose you are looking in the security business problem that gives limited coverage for the first 2-3 years and full coverage after that, but you pay a high premium. However, where alternatives are lacking, they can be valuable. I would say that Prudential can wear it as a carrier standard and home-life or United GTL as a carrier issue guaranteed.

Many states have programs that make insurance available to persons with mental or physical. Check with the local mental health services to see if they know of any in your state.

It may be possible to obtain, but it will be expensive. If the unemployed and on disability, the best scenario would start around 2 times the standard rate that you see.

If the impact of suicidal ideation, frequent hospitalizations, past attempts, mutilation, etc.. It would be a step back and hte only type of coverage available would be guaranteed coverage issue.

The purpose of life insurance is to protect the dependents of the insured by the replacement of income, he / she has been the production or human services has been the scene. This is why insurance is limited by the benefit of the individual or the economic value of the individual to his office.

Sure, you can get policies that have other benefits, such as whole life, and you can get policies for people with no minimum income. However, your specific illness husband did most at risk, and a shorter life statistically. And you and your daughter are not financially dependent. These two factors are involved in the denial that you received. Life insurance is not supposed to be a bargain when the insured dies, it is designed to leave them whole, no better off than him alive. Insurance companies will never willfully make a financially attractive to individual death his heirs.

There are political weakness of the dollar available to everyone to ensure that the death of an individual does not destroy his heirs financially, and the previous answer suggests a way to find them.

Depending on the level of disease control, I could see the offers from the standard rate (with the right company). The problem is not his illness, the ISS. If it takes money from SSI, it is an automatic decline with all companies I can think of. The reason is that if it is bad enough to get SSI, it was not strong enough to control a favorable offer. Working with a financial planner to make sure you are saving enough.