Financial Planning

Life Insurance

Many people include life insurance in their financial planning. Life insurance is a type of insurance policy that pays out a sum of money upon the death of the insured person. Some people with bleeding disorders have trouble finding life insurance. Companies are reluctant to insure someone with a chronic health problem. However, it is possible for most people with VWD or a platelet disorder to find life insurance.

Here are some guidelines for seeking coverage:

• You should buy life insurance as soon as you can afford it. The younger you are when you buy it, the less it will cost.
• You should think about buying the most insurance you can afford.
•  Your spouse's employer may offer options to purchase life insurance. Parents may be able to get life insurance for a child through their employers.
• Some national services and professional organizations offer life insurance to their members. The dues to join are often worth the benefit of getting the coverage.
• Local and state school systems may offer life insurance programs to students.
• Other people with bleeding disorders or long-term health problems may be good sources of information. Friends and relatives are often willing to share names of their companies.
• The local hemophilia organization or HTC may have up-to-date information on insurance matters.
• Insurance agents, often those who work with large companies, can help explain insurance options. The best agent is one who shows a commitment to helping their client find coverage at a fair price. The agent should explain the different types of life insurance, such as whole life or term.