- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Everybody wants to sell me insurance...
Posted on 2/4/14 at 3:46 pm
Posted on 2/4/14 at 3:46 pm
...which ones do I need?
TIA
TIA
7
Posted on 2/4/14 at 3:52 pm to white perch
I just got a pitch for Whole Life and Disability through Northwestern Mutual during my lunch break today.
I just turned 27 and a completely healthy non-tobacco user. Maybe the MT can sell it to me better than they did?
I just turned 27 and a completely healthy non-tobacco user. Maybe the MT can sell it to me better than they did?
This post was edited on 2/4/14 at 3:52 pm
Posted on 2/4/14 at 3:52 pm to white perch
Insurance is needed for life changing events:
1. Life insurance: if you die you want your family to have their financial needs met. The amount depends on lifestyle and personal chioce
2. Disability insurance: if you cannot work, you need income.
3. Auto insurance: it's the law and accidents can be very expensive
4. homeowner's/renter's insurance: if you have a mortgage it is required. If you rent a place, you need it to cover your poseessions in the event of fire or other disasters
5. health insurance: if you get real sick, you need it.
These are the big ones. In general, I don't insure small stuff like vacations, appliances, TVs, etc, but everybody gets to choose.
1. Life insurance: if you die you want your family to have their financial needs met. The amount depends on lifestyle and personal chioce
2. Disability insurance: if you cannot work, you need income.
3. Auto insurance: it's the law and accidents can be very expensive
4. homeowner's/renter's insurance: if you have a mortgage it is required. If you rent a place, you need it to cover your poseessions in the event of fire or other disasters
5. health insurance: if you get real sick, you need it.
These are the big ones. In general, I don't insure small stuff like vacations, appliances, TVs, etc, but everybody gets to choose.
Posted on 2/4/14 at 3:53 pm to ell_13
I have always had term insurance.
Posted on 2/4/14 at 3:57 pm to ell_13
quote:
I just got a pitch for Whole Life
This will open a can of worms here. Lots of threads about this, so I'll avoid it for now.
quote:
Disability
no brainer.
quote:
just turned 27 and a completely healthy non-tobacco user.
perfect time to go through underwriting.
Posted on 2/4/14 at 3:59 pm to GoCrazyAuburn
I have term through work. For myself and supplemental for my wife.
I'm seriously considering WL through an external company though. Can you link me to those threads? Or should I start a new one with my questions?
I'm seriously considering WL through an external company though. Can you link me to those threads? Or should I start a new one with my questions?
This post was edited on 2/4/14 at 4:00 pm
Posted on 2/4/14 at 4:03 pm to makersmark1
I currently have:
1. Term life (if I die, my family's set)
2. Disability (both through NW mutual)
3. Auto
4. Home owners (both through State Farm)
5. Health (blue cross)
1. Term life (if I die, my family's set)
2. Disability (both through NW mutual)
3. Auto
4. Home owners (both through State Farm)
5. Health (blue cross)
Posted on 2/4/14 at 4:08 pm to ell_13
quote:
I have term through work. For myself and supplemental for my wife.
1. Do you or the company pay for it? I ask because if the company pays for it and deducts those payments, the benefit would be taxable. just an fyi.
2. Does your company offer group disability? If so, participate. I would look at getting a personal policy first, as its benefit is tax free. Then get the group policy once you max out your personal protection. Disability really is a no brainer. For someone your age and healthy, it would generally cost you 1-2% of income to protect 60-70% of your income. Doesn't make much sense to risk that imo.
quote:
I'm seriously considering WL through an external company though. Can you link me to those threads? Or should I start a new one with my questions?
Feel free to ask the questions here, and I can get to them when I get home. I just didn't want to start a long discussion about it when I don't have a lot of time.
This post was edited on 2/4/14 at 4:09 pm
Posted on 2/4/14 at 4:12 pm to white perch
I just switched my homeowners from State Farm to progressive...State Farm was going to charge me $118 per month INCLUDING discounts for having our car insurance there. Progressive is giving us even better coverage (smaller deductible) for $90 per month including discounts. Why did I wait so long? 
Posted on 2/4/14 at 4:16 pm to white perch
sure you dont want to buy? I know a guy.
Posted on 2/4/14 at 4:32 pm to ell_13
quote:
I have term through work.
How much though? Enough to support your wife and kids if you die tonight?
Posted on 2/4/14 at 4:37 pm to Chaplain
quote:
..State Farm was going to charge me $118 per month INCLUDING discounts for having our car insurance there.
Where do you live? I'm guessing not south Louisiana
Posted on 2/4/14 at 4:45 pm to yellowfin
quote:6x salary. It's plenty. I also got supplemental for her if something happens. That's only 40k though and I would use for burial and daycare for our 3-month-old.
How much though? Enough to support your wife and kids if you die tonight?
ETA: Company pays for 2x salary for Basic life and AD&D. The rest I pay for, but it's very cheap.
This post was edited on 2/4/14 at 4:49 pm
Posted on 2/4/14 at 4:49 pm to ell_13
quote:
That's only 40k though and I would use for burial and daycare for our 3-month-old.
that won't last long!
Posted on 2/4/14 at 4:53 pm to wasteland
It's not meant to. She doesn't work.
Posted on 2/4/14 at 4:56 pm to ell_13
My wife is insured more than I am. 
Posted on 2/4/14 at 4:57 pm to Golfer
jkThis post was edited on 2/4/14 at 4:58 pm
Posted on 2/4/14 at 4:59 pm to ell_13
quote:
6x salary. It's plenty.
you need more than that if you have a 3 month old
ETA: and now I see a wife that doesn't work, you definitely need more
This post was edited on 2/4/14 at 5:00 pm
Posted on 2/4/14 at 5:06 pm to yellowfin
She only quit for the newborn. She's going back next January. Our only debt is the house and a car. That's $1400/m between the two. How is half a mill not enough?
Posted on 2/4/14 at 5:25 pm to white perch
Add a million dollar umbrella policy. Super cheap for a lot of peace of mind.
Page 1 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News