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Medical Forum / Diseases and Disorders / Diabetes / August 2007Medical Underwriting question
I was diagnosed as type 2 in June 2007. As part of my retirement, I'm considering the purchase of an annuity. I might be able to receive larger payments if diabetes qualifies for "medical underwriting". The question is - does it generally qualify? Here is the company's definition of medical underwriting: 'Clients with medical conditions that may reduce their life expectancy may qualify for a "rated age". A rated age is older than your actual age and based on your personal life expectancy as determined by a medical underwriter. A rated age applicant can either increase their income payments or reduce the premium amount needed to generate specific payment amounts.' >I was diagnosed as type 2 in June 2007. As part of my retirement, I'm > considering the purchase of an annuity. I might be able to receive [quoted text clipped - 8 lines] > income payments or reduce the premium amount needed to generate > specific payment amounts.' No answers, just questions -- Have you asked the annuity company about his? Are you considering only one company? Are you working on this solo or through some financial advisor, agent, or HR department? And by the way, are you also considering or do you already have long term care insurance? bj >I was diagnosed as type 2 in June 2007. As part of my retirement, I'm >considering the purchase of an annuity. I might be able to receive >larger payments if diabetes qualifies for "medical underwriting". The >question is - does it generally qualify? Often does over here. I'm planning on using it, if they manage to keep the rules the same for the next 14 years... Nicky. T2 dx 05/04 + underactive thyroid D&E, 100ug thyroxine Last A1c 5.6% BMI 25 > I was diagnosed as type 2 in June 2007. As part of my retirement, I'm > considering the purchase of an annuity. I might be able to receive [quoted text clipped - 10 lines] > > I don't know of any companies who apply that on Annuities, EXCEPT a few who handle people with advanced cancer or AIDS. Obviously the company you are talking to does. , The only way to find out what they will offer, is APPLY. Most states have a rule giving you 10-15 deays to cancel your policy without penalty after it is issued. |
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