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My husband is 59 a diabetic and has PTSD. He uses the VA which is a blessing. Our problem is, he cannot get life insurance. Is there any company out there that will insure him? I know we should have had insurance before all these problems but because of his medical problems we could barely afford a roof over our head. Or is there something we could invest around $100 a month in to take the place of ins.? Any help will be appreciated as we don't have much knowledge when it comes to investments.
what about USAA insurance? I was under the impression that they cover everything, but it's only available to active or retired service? They crush everyone for premiums, and I would hope they'd allow a life insurance policy for a veteran.
what about USAA insurance? I was under the impression that they cover everything, but it's only available to active or retired service? They crush everyone for premiums, and I would hope they'd allow a life insurance policy for a veteran.
Your right it's only available to active or recently retired. My husband did two tours in the Vietnam era.
So being that you said "recently" retired... it means they don't give it to veterans who served? Only those currently serving, or those who just served? I sincerely hope that's not the case... Anyone who steps up for their country should be treated well... but before I open up a HUGE can of worms I should Shhh... (I've seen threads veer so far off the original post it's crazy)
So being that you said "recently" retired... it means they don't give it to veterans who served? Only those currently serving, or those who just served? I sincerely hope that's not the case... Anyone who steps up for their country should be treated well... but before I open up a HUGE can of worms I should Shhh... (I've seen threads veer so far off the original post it's crazy)
USAA is not the government, nor really any sort of public service. It is an insurance (and now a WHOLE lot more) company. Their niche market is the military, but they are not part of the military. Used to only be available to officers, but more recently enlisted, as well. I used to have USAA, and got po-ed and we parted ways, but are really just a business.
Vietnam era was over 30 years ago. Issues related are a Veterans' issues which are handled by the VA -- which in this case the OP says is doing a good job. That is a good thing when it happens.
But back towards the OP . . . what do you need the insurance for in what amounts? Do you have young children? Do you need this to cover business liabilities? Different companies have different features that make them desirable for different applications.
USAA is not the government, nor really any sort of public service. It is an insurance (and now a WHOLE lot more) company. Their niche market is the military, but they are not part of the military. Used to only be available to officers, but more recently enlisted, as well. I used to have USAA, and got po-ed and we parted ways, but are really just a business.
Vietnam era was over 30 years ago. Issues related are a Veterans' issues which are handled by the VA -- which in this case the OP says is doing a good job. That is a good thing when it happens.
But back towards the OP . . . what do you need the insurance for in what amounts? Do you have young children? Do you need this to cover business liabilities? Different companies have different features that make them desirable for different applications.
---No young children. We just bought a home & new car. It just scares me that if my husband were to pass....I'd be left oweing all this & couldn't make the payments. Presently, I don't work, my husband does much better when I'm here.
---No young children. We just bought a home & new car. It just scares me that if my husband were to pass....I'd be left oweing all this & couldn't make the payments. Presently, I don't work, my husband does much better when I'm here.
Ok, that makes sense. So really all you NEED to insure against is potential loss on the sale of your house and car? Is that correct? I am not saying you that you might not like to insure for more -- even as much as the remaining loan values of the house, the car, and other life expenses -- but the risk you are trying to offset with the insurance is the assumption that you could not continue payments and would sell them, and would need to cover any "upside down" portion (where the loan is higher than the sale price)
I guess I am assuming that in his absence you would work and could afford your own way, independent of the payments on the house and car? Are those all correct assumptions?
Can you figure out what that dollar amount is? Once you figure out the "need" level, then the next step is the "want" level.
btw -- A caution as an aside that I can see -- you may have a greater need for long-term disability insurance for him more so than life insurance. That covers the scenario where he became unable to work, you were his caretaker, and you had to cover the costs of living for both of you until (or even after) Social Security kicks in.
Ok, that makes sense. So really all you NEED to insure against is potential loss on the sale of your house and car? Is that correct? I am not saying you that you might not like to insure for more -- even as much as the remaining loan values of the house, the car, and other life expenses -- but the risk you are trying to offset with the insurance is the assumption that you could not continue payments and would sell them, and would need to cover any "upside down" portion (where the loan is higher than the sale price)
I guess I am assuming that in his absence you would work and could afford your own way, independent of the payments on the house and car? Are those all correct assumptions?
Can you figure out what that dollar amount is? Once you figure out the "need" level, then the next step is the "want" level.
btw -- A caution as an aside that I can see -- you may have a greater need for long-term disability insurance for him more so than life insurance. That covers the scenario where he became unable to work, you were his caretaker, and you had to cover the costs of living for both of you until (or even after) Social Security kicks in.
Correct....correct....correct
I could probably take care of myself by going back to work. I've thought about working from home part-time to get 'things' paid off sooner. We owe around $100,000 for everything......house, car, cc's, school loan. I don't understand the long-term disability ins, I'm 99% sure we can't get life ins, and I'm not that knowledgable on investments so I thought I might try to pay off everything using the principles of money management program. Don't know the correct name for it but when one debt is paid.....use that paym't amt for the next debt....and so on...and so on....
unless anyone out there has a better idea.
If an insurance company would accept the risk the premiums would be high, your best bet would be try renewable term life for a period of say 15 years or so, other options are disability wavers on the outstanding loans that is if he is still working, in the event of disability if that occurs the disability wavers take over the outstanding debts that were covered, long term disability would work good but he may already have that with the employer which you need to check out also as with all this it is based on his now working not on disability yet, as far as burial (not that we have him already dead ) the va would have that covered in the va cemetery less funeral expenses, what I would do is sit down and talk to a financial planner, not a stock broker, not those rip off credit counselors either, then he will look at the entire picture and come up with a good game plan for you, a good financial planner is worth there weight in gold.
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(I've seen threads veer so far off the original post it's crazy)
) the va would have that covered in the va cemetery less funeral expenses, what I would do is sit down and talk to a financial planner, not a stock broker, not those rip off credit counselors either, then he will look at the entire picture and come up with a good game plan for you, a good financial planner is worth there weight in gold.
