So on the path to financial responsibility… I live with my father and I am 50. Just signed up for some funeral insurance. No plans to exit soon but need to think I can cover things if dad passes and my siblings are left to deal with me.
I think it’s responsible. It’s like $5 a week and it’ll go a long ways to helping if I pass suddenly etc. So I’ve done it and it just comes out fortnightly by direct deposit…
I plan on living a long time but I think that it’s a good option for now if something comes up. Yes. I could save the money and thus pay for it but just in case I go early then I’m saving some heartache financially! @shutterbug is this your area? I think it’s a good move just in case something happens!
I had no idea there was a funeral insurance. Is that included in life insurance?
Been meaning to look into a life insurance policy. But then idk. I don’t expect anyone to have shoulder an expensive funeral for me. I can see my immediately younger brother being able to afford a simple one. He’s started his career with a healthy financial compensation so I can only see his earning potential rise. I’m sure if it comes to anyone, it’ll be him. And I’m sure he’ll find an affordable way to do it.
I don’t have much experience with this as I’m not licensed for Life/Health/Financial. I’m licensed for General. I have a couple of colleagues who are licesned for the other and I’ll ask one of them today. My grandmother had this and it definitely saved the family some hassle, I can tell you that.
Suicide is generally not covered, period. The medical underwriters would likely consider writing in an exclusion for things specific to schizophrenia and rate higher in other areas. Would be more costly, but not unobtainable.
Not in america. I was disqualified right off the bat because I checked the yes box to “have you taken antipsychotic medication within the last 5 years?”
Your insurance market is regarded as “the wild west” from up north. Here you can get insurance despite medical conditions if you’ve been stable for more than a year.