This is a collaborative post.
I have spent years putting off getting life insurance but it is something I need to consider. While weight and health, of course, affect your policy it is still important. If you spend years putting it off then those are years that if something was to happen you would not be covered.
Bad health shouldn’t put you off
For a long time, I have put off getting life insurance as I know that my health conditions such as my asthma will increase my insurance cost. The reality hit me though last December/January when I was hospitalised with my asthma and really unwell.
It made me realise instead of using it as a reason to avoid life insurance I should use it as a motivator to get it. After all what if they hadn’t been able to increase my oxygen levels and I had got worse or even died. Would there have been anything for Ben then?
Everyone has a past
Another thing which has in the past put me off life insurance is that I have had to declare suicide attempts on my quotation questionnaire. These things are in my past though and everyone has a bit of a past whether that be mental health difficulties, illnesses or accidents. It doesn’t mean you shouldn’t protect against something in the future.
The right time may never come
Two years ago I had an operation to remove a huge growth from my thyroid. Luckily it was found to be non-cancerous and I was fine and recovered well. Recently I have found another lump in my neck in a similar area. Of course, the concerns are that it could be cancer, I know the chances are slim but that doesn’t stop me worrying. As I am “undergoing investigations” even if it was something sinister I would not be covered if I got life insurance now!
Why didn’t I do it a year ago? The reason was they ask if you have had an operation in the last 2 years or the last 5 years, or had a lump removed etc. All these things made me think I should just wait until time had passed! Then of course as I explained above was my asthma issues last year!
I will never be the perfect weight
I know my life insurance will be higher as I am currently overweight. I could lie and put my weight on from a few years ago but I know that is wrong and could invalidate it. The alternative is to wait until I have lost weight, but when will that be? Again, is waiting sensible? We never know what is around the corner!
I don’t want to leave Ben without a mum and with no money
Worrying about leaving Ben without a mum is always a concern I have. His disabilities mean he will always need more support in life than an average teen would. Whilst at 15 his peers would be ready to move out in a few years or go to university etc, this is unlikely to be Ben. He will be more reliant on me for a long time either financially or psychologically.
Whilst I can not control when I die and leave him I can control what he has to spend on care and support when I do die. This is something I need to remember when the above reasons make me think I don’t need to worry about it yet! So after Christmas, I will be sorting out 250k life insurance and the cost will not be important as this is something I need to prioritise!
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