Rogina B
01-14-2013, 10:09 PM
I know at least one of the members here works in the insurance industry and another is an attorney as both have mentioned it in other posts. I got another[additional]term life insurance policy the other day from one of the common companies.I read through the policy for [caveats?]..exclusions and issues that would let them go free from paying out. I even spoke to a person at the company as there were a few things that I wanted to be sure of that needed explaining. Anyway,it seems that there are a few real trip ups for those that transition later in life with a policy of any kind in force..If you misrepresent you age or gender they get to "adjust" your policy.If you misrepresent your health,same thing.If you misrepresent your medical history or prescribed treatments or medications,they get to go into "default mode" and the death benefit is only what you paid in premiums in total. Anyway,it seems like a difficult mess to get through if transitioning. Changing a gender marker on a DL is one thing,changing your birth gender is another..[new calculations for the actuaries? and underwriters. However,because of HRT,you now are on prescription meds,so that gets thrown into the mix! Yet,possibly for years,as a "male" you faithfully paid your premiums[term,whole life,health,disability,etc as probably the exclusions are all pretty common] THINKING your beneficiaries would get something from it. So,how have some forum members handled all of this? I am curious as others here are like myself in that they want what they have been paying for.:straightface: