I did something today that goes against my personal financial policy: I accepted an offer over the phone.
My husband has kidney disease. We discovered it years ago when we were applying for life insurance. The insurance company required a urine test, and all tests kept coming back funny on him. A regular doctor, a nephrologist, and a kidney biopsy later, we learned he has IgA Nephropathy, which is a form of kidney disease.
Suddenly, our plans for getting him any life insurance evaporated at the moment of diagnosis. Kidney disease is the big black mark in the insurance industry. No one would cover him. I even went so far as to call the National Kidney Foundation to ask if they knew of any companies that cover kidney patients. They had no answers for me. In fact, they said no one had ever called to ask that question before!
Steven is not completely without insurance, as he does have a policy through his work, which covers one year's salary. It's adequate, but hardly enough, considering I no longer work out of the home. (However, I do keep my teaching credentials updated, just in case.)
So what was today's phone offer? Our mortgate company called to offer accidental life insurance. It's free for the first 30 days while we look over the policy, and after that, there's a small monthly fee tacked onto the bill for our mortgage. (No, this is not merely mortgage insurance meant to pay off the house in case of death, if anyone is wondering; this is a form of life insurance. Period.)
Ordinarily, I would never accept something over the phone that involves money, but I decided to take a chance on this. Steven's health is generally fine right now. I don't fear his dying from kidney failure or anything, but I do worry as he commutes daily to and from Dallas. Car accidents happen, and one day, it could be him. It just makes sense to get the extra coverage, especially as accidental life insurance is the only kind we can get on him.
Why am I sharing this with you? Well, in case anyone else needs to know options. I can't begin to tell you how frustrated I've been reading the blogs of other SAHWs who matter-of-factly state that they'll be A-OK if their husbands die (in spite of no job skills or degrees in many cases--don't get me started on the naivete of that!) because they have large life insurance policies. The implication is always that everyone should do that if the wife is at home. I agree; but reality has played out very differently for us due to kidney disease. It's always good to have contingency plans, and those plans are going to look different for every family due to various circumstances. If you can't get regular life insurance, look for it in other forms.