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Denied for high life ins because SAHM?

DeltadeeDeltadee
in Austin Babies

Okay, this is part rant and part curiosity if this has happened to anyone else.

DH & I just recently decided to take out a second life ins policy on each of us.  The main reason is because of DD's diagnosis and it's even more important that the funding will be there to take care of her.  The agent came back and said that the amount we requested for me was denied, and they'll approve only half that amount, because I am a sahm and therefore have lower net worth.  I can kind of see that point but what does it matter if you are paying premiums anyway?  I feel so useless and less worthy of people that work because of this...okay, that is an exaggeration but it does make me feel that way slightly.  And it definitely makes me very annoyed! 

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Re: Denied for high life ins because SAHM?

  • NessiaNessia

    I don't get it, what does your net worth have to do with an insurance policy YOU will be paying for. Who cares if you make $1 or $10,000, how does that affect the fact that you are paying them?

    I'm sorry and that sucks. What you are doing for your kids is worth a lot more than can be calculated. 

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  • LonghornNAggieLonghornNAggie
    You should sent them an estimate for hiring a full time, nanny, cook, maid, tutor...etc. : )
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  • Mrs.FroggiannaMrs.Froggianna

    That's nuts.  DH and I decided to get life insurance once Luke came along (and I SAH) and we never had an issue with how much coverage we requested.  Granted, it wasn't a huge sum for me, but my employment status was never an issue.  I'd suggest getting a quote from another co.

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  • ebatebat
    Try another company. They all have different underwriting standards.

    oh and while it's totally understandable thqt you want higher insurance, the algorithm they use doesn't get it. It's set up that way to prevent fraud.

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  • carlinlpcarlinlp member
    That happened to us too before we opened the business.  DH argued with them until he was blue in the face about what it would cost to replace my duties should something happen to me.  We got nowhere and it was really frustrating.


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  • NessiaNessia
    imageMrsRosie:

    imageLonghornNAggie:
    You should sent them an estimate for hiring a full time, nanny, cook, maid, tutor...etc. : )

    https://swz.salary.com/momsalarywizard/layoutscripts/mswl_newsearch.asp

    hot damn, I need a raise!
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  • AbrooksAbrooks
    That's really ridiculous. But I agree - talk to another company.  I mean really.  Do they get how much a SAHM does?  Obviously not.  
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  • DeltadeeDeltadee
    yeah, they aren't budging on the issue and I'm not overly concerned since it's a second policy.  It's the point of it that ticks me off.  That, and as you ladies pointed out, what it would require from DH if something should happen to me.  bastards.
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