i need life insurance
11-28-2007, 07:35 AM
#11
No funeral...too morbid! A simple cremation is less than 2K. We'll have a party in your memory after you're gone, and invite your family. We'll call out for pizza. Becky will bring baked goods.
When you find out the cost of a policy for 300K, you'll likely re-think this, and BTW,you have to pee in a cup or give a blood sample to prove you don't smoke.
And for God's sake, have a will made. It's cheap money to have one done.
When you find out the cost of a policy for 300K, you'll likely re-think this, and BTW,you have to pee in a cup or give a blood sample to prove you don't smoke.
And for God's sake, have a will made. It's cheap money to have one done.
11-28-2007, 07:36 AM
#12
and as for funerals. go out back and get the pine shipping box that that nice casket came in and shove me in there.
there's an idea!!
11-28-2007, 08:41 AM
#14
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Whats the difference from Whole Life Insurance or Term life? I have 2x salary life insurance at work. That would cover funeral and mortgage on the house but not much more after that. I was thinking of upping it during open enrollment but just didnt have the time.
Btw, whats title 5?
Btw, whats title 5?
11-28-2007, 08:44 AM
#15
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I have this at work "Basic Life Insurance with AD&D" that covers 2x Benefit Compensation / 2x Benefit Compensation
I also have access to these. Not sure what the hell they are as well.
Supplemental Life Insurance with AD&D
Dependent Life Insurance with AD&D
I also have access to these. Not sure what the hell they are as well.
Supplemental Life Insurance with AD&D
Dependent Life Insurance with AD&D
11-28-2007, 08:49 AM
#16
[QUOTE=paivag,Nov 28 2007, 12:44 PM]I have this at work "Basic Life Insurance with AD&D" that covers 2x Benefit Compensation / 2x Benefit Compensation
I also have access to these.
I also have access to these.
11-28-2007, 09:05 AM
#17
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I'm with the guys asking why you need that much insurance. A long time ago, I didn't sell insurance (very well, anyway) for John Hancock. I did learn a bit about the business.
Unless you have a family dependent on your income, you don't need much insurance.
Term sounds more like what you want, possibly even decreasing term, where your benefit decreases through time. This is useful to cover your mortgage.
Whole life is the most expensive since you build equity in the policy and can basically sell if back for a predetermined cash value. At some point, you stop paying on the policy, IIRC, since the company has taken enough of your money and made enough to cache your death benefit.
Regular term is between these. You're covered for a specified amount of money for a specific amount of time. At the end of the term, you both walk away, kind of like leasing a car. You can then buy another policy at a higher rate, since you'll be older and actuarilly, more likely to die before the policy ends.
AD&D is betting against yourself that you won't die of disease or other natural causes.
Unless you have a family dependent on your income, you don't need much insurance.
Term sounds more like what you want, possibly even decreasing term, where your benefit decreases through time. This is useful to cover your mortgage.
Whole life is the most expensive since you build equity in the policy and can basically sell if back for a predetermined cash value. At some point, you stop paying on the policy, IIRC, since the company has taken enough of your money and made enough to cache your death benefit.
Regular term is between these. You're covered for a specified amount of money for a specific amount of time. At the end of the term, you both walk away, kind of like leasing a car. You can then buy another policy at a higher rate, since you'll be older and actuarilly, more likely to die before the policy ends.
AD&D is betting against yourself that you won't die of disease or other natural causes.
11-28-2007, 09:20 AM
#19
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So with "Basic Life Insurance with AD&D" my family only benefits if I don't die from disease or other natural causes? SO if i get terminal cancer or something my family gets screwed?
11-28-2007, 09:43 AM
#20
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[QUOTE=paivag,Nov 28 2007, 02:20 PM] So with "Basic Life Insurance with AD&D" my family only benefits if I don't die from disease or other natural causes?