by sbedford on Sat Nov 28 2009
After having a long careful debate with myself I dropped the LU Family Survivor health insurance.
It was a frightening decision to make but, between the job coverage (health, prescription, dental, vision) of which I pay 5300, the LTC insurance 5208, and LU crappy traditional indemnity policy with its high deductibles, high prescription with nothing else 8460, as a self supporting widow with no minor children, I was paying 18,968 per annum. If the LU coverage was equal to my company's, even if it cost more, I would have kept the LU because I know it will be there at least until I am 65.
Of course I am terrified of losing my job (59 1/2), but I flat out could not cover my monthly bills anymore because of the LU policy. It became a burden. FYI, during the 3 years I had it, they paid out a little over 500. What a rip-off.