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Old 04-24-2007, 03:21 PM   #21
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yep. life insurance is a plus....

i have a 300k policy...my parents decided to take the plunge and buy it for me.

i only pay like $200/year for it. guaranteed for 10 year term.
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Old 04-24-2007, 03:24 PM   #22
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Quote:
Originally Posted by Longnguyen
i been looking into life policies also, whats a good premium for 1m-2m coverage?
good luck with that....it's a super to get coverage for that much! (lots of hoops to jump through, and the Ins. company will thoroughly check your out!!!)
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Old 04-24-2007, 03:28 PM   #23
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Quote:
Originally Posted by houseofpain
yep. life insurance is a plus....

i have a 300k policy...my parents decided to take the plunge and buy it for me.

i only pay like $200/year for it. guaranteed for 10 year term.
Get it stretch out to a 20 or 30 yr term, it's better. Every 10 yrs that policy is gonna go up based on your age at that time, with a 20 or 30 yr it stretches that increase farther back!
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Old 04-24-2007, 03:29 PM   #24
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Quote:
Originally Posted by jus10
good luck with that....it's a super to get coverage for that much! (lots of hoops to jump through, and the Ins. company will thoroughly check your out!!!)
It is, u have to prove what they call insurabilty
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Old 04-24-2007, 04:01 PM   #25
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i have 250k for me
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Old 04-24-2007, 04:05 PM   #26
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!!!!! !!!!!!!!!!!! if they gave lower prices for everything based on young looks and not actual birthdates i would get everything really cheap. Yea im relatively young for 1m coverage in mid-late 20's, no known negative med histories. What im pondering is, are there like a cross between annuity and life insurance where you buy life insurance but lets say you live so long that you paid so much would you recoup any of it?
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Old 04-24-2007, 04:10 PM   #27
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dont get it too high. someone in the family might try to take your out
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Old 04-24-2007, 04:12 PM   #28
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Quote:
Originally Posted by Longnguyen
!!!!! !!!!!!!!!!!! if they gave lower prices for everything based on young looks and not actual birthdates i would get everything really cheap. Yea im relatively young for 1m coverage in mid-late 20's, no known negative med histories. What im pondering is, are there like a cross between annuity and life insurance where you buy life insurance but lets say you live so long that you paid so much would you recoup any of it?
It's called Universal Life. You basically are buying insurance and an annuity with that one.
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Old 04-25-2007, 09:09 AM   #29
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word, universal life or 30 year terms are usually best bet.
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Old 04-25-2007, 10:18 AM   #30
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$50,000 for a funeral? ARe you sure on that amount that seems ridiculously high. If I ever buy it, just tie me to my bike and sink me in Lake Travis and give the stupid funeral money to my family.
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Old 04-25-2007, 11:44 AM   #31
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My policy is over 7 figures.

No wonder why my wife doesn't mind me riding a bike. :eh:
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Old 04-25-2007, 11:45 AM   #32
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i just upped mine with another 50k
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Old 04-25-2007, 01:13 PM   #33
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Quote:
Originally Posted by gixxerbill
$50,000 for a funeral? ARe you sure on that amount that seems ridiculously high. If I ever buy it, just tie me to my bike and sink me in Lake Travis and give the stupid funeral money to my family.
$50K is not hard to surmount once u add in price of a plot, a headstone, the funeral program, casket ($5-10K right there).

$100k is really a minimum amount of coverage needed for any one person.
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Old 04-25-2007, 03:22 PM   #34
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"word, universal life or 30 year terms are usually best bet."

Universal life has been proven to be of more value to the company and agent selling it than to the person buying it - too many fees and the "guaranteed return" is just that - a guaranteed LOW return to insure the company makes money in any market situation.

Don't buy life insurance as an "investment" - buy it to cover the unexpected loss of income due to death.

Best (and least expensive) bet for most people to get the most value for their money is a 10-20 year "renewable term life" insurance (not annual renewable as rates can change every year and you might be subject to a physical to renew).

Lots of places sell it and a $250k policy for someone in good health under age 45 is pretty inexpensive.

And yes, I have worked for three insurance companies and been licensed to sell life insurance.
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Old 04-25-2007, 03:46 PM   #35
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Quote:
Originally Posted by FJRmgm
"word, universal life or 30 year terms are usually best bet."

Universal life has been proven to be of more value to the company and agent selling it than to the person buying it - too many fees and the "guaranteed return" is just that - a guaranteed LOW return to insure the company makes money in any market situation.

Don't buy life insurance as an "investment" - buy it to cover the unexpected loss of income due to death.

Best (and least expensive) bet for most people to get the most value for their money is a 10-20 year "renewable term life" insurance (not annual renewable as rates can change every year and you might be subject to a physical to renew).

Lots of places sell it and a $250k policy for someone in good health under age 45 is pretty inexpensive.

And yes, I have worked for three insurance companies and been licensed to sell life insurance.
'

Actually term isn't the "most value" for your money, it is however the least expensive way to insure yourself for a huge amount. Think of term and whole life as renting vs owning a home.

If u can afford it a permanent WHOLE LIFE policy is the "most value for your money" seeming as though the policy builds value or "equity" as it matures. For instance a 15 Pay whole life policy for a new born will accure almost $98,000 between now and their 64th b-day with only having paid $8835 into the policy. That's a huge return on your dollar.

As for term there is rarely any return, the premium fluctutes based on your age at each renewal period, and most policies EXPIRE once you hit 85.

I normally reco for customers to insure large amounts on themselves that they only need for a short term on a term policy but ALWAYS supplement that term with a whole life!!
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Old 04-25-2007, 04:08 PM   #36
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Is there anything available for a military member stationed overseas? I've got life insurance through the Air Force right now, but I'll definately listen to any options that might be available to me.
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Old 04-25-2007, 04:11 PM   #37
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Quote:
Originally Posted by NisAznMonk
Is there anything available for a military member stationed overseas? I've got life insurance through the Air Force right now, but I'll definately listen to any options that might be available to me.
Yep!! I'll shoot u a pm on some of your options.
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Old 04-25-2007, 04:33 PM   #38
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If anything happened to myself or atomicmoondog my kids will be sittin pretty (minus us) but if they spent any money other than 3,000 for cremation I would come back from the grave and kick their . I am dead and gone!!!! Worked hard for everything I have and my kids are going to get it and not some flowers that will die or creepy funeral home. My mom just died last month and we had a awesome funeral for her at the price of 2,000 and it was nothing less but an amazing tribute to her life.
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Old 04-25-2007, 04:35 PM   #39
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Beware of some free advice...always check the source of your information (commission anyone?).
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Old 04-25-2007, 04:38 PM   #40
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Quote:
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Beware of some free advice...always check the source of your information (commission anyone?).
Duly noted!!! But no one is trying to get commission here just making sure we realize we NEED protection is all.
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