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Started By
Message
re: Life Insurance
Posted on 10/30/14 at 2:09 pm to CherryGarciaMan
Posted on 10/30/14 at 2:09 pm to CherryGarciaMan
quote:
Also, student loans and other debt.
only way to default on student loans is to die
0
Posted on 10/30/14 at 2:10 pm to CherryGarciaMan
quote:
To get rated better in order to convert it later.
Why would anyone buy whole life?
quote:
Also, student loans and other debt.
If I am single and have no children why would I be worried about this?
Posted on 10/30/14 at 2:10 pm to yankeeundercover
You laughing at me or my agent? 
Posted on 10/30/14 at 2:10 pm to TechDawg2007
2.5MM
Posted on 10/30/14 at 2:11 pm to pooponsaban
quote:
Why would anyone buy whole life?
I dunno. Ask the multitude of your fellow Americans who do.
Posted on 10/30/14 at 2:12 pm to TechDawg2007
Just upped to 3 mill. Will up to 5 mill when I hit 45.
Posted on 10/30/14 at 2:12 pm to Count Chocula
quote:
Ok then, hows things in Abbeville, Henry, Boston, Bancker, Perry, Prairie Gregg?
Better
YES! lol A-town is gearing up for Omelette Festival. Weather is gorgeous. That's about it. lol Wish I knew who this was.
Posted on 10/30/14 at 2:15 pm to CherryGarciaMan
quote:
Ask the multitude of your fellow Americans who do.
You mean the ones that watch Dancing with the Stars? I was hoping you could enlighten me. Everything I have ever read as a somewhat intelligent person tells me it is a pretty shitty "investment."
Posted on 10/30/14 at 2:15 pm to tiger91
Oh, but you do.....
ETA: Im from all the places I listed. Imagine that.
ETA: Im from all the places I listed. Imagine that.
This post was edited on 10/30/14 at 2:16 pm
Posted on 10/30/14 at 2:16 pm to lsufanintexas
how much are people paying /mo for the million and up policies? i have no clue what life insurance goes for
Posted on 10/30/14 at 2:17 pm to TechDawg2007
29. Single. $600,000. Company gives everyone basic 1X salary for free.
It costs me minimal to take care of my family. Like $15 a month. It's ridiculous not to have the max at such a paltry premium.
It costs me minimal to take care of my family. Like $15 a month. It's ridiculous not to have the max at such a paltry premium.
This post was edited on 10/30/14 at 2:18 pm
Posted on 10/30/14 at 2:18 pm to pooponsaban
quote:Work compensation package...
Why would a single person without kids have life insurance?
Posted on 10/30/14 at 2:19 pm to pooponsaban
Why wouldn't you buy whole life?
Posted on 10/30/14 at 2:21 pm to lsujro
quote:
how much are people paying /mo for the million and up policies? i have no clue what life insurance goes for
Combined my wife and I pay ~$40-45/mo for $1M ($500k each).
Posted on 10/30/14 at 2:21 pm to TechDawg2007
quote:Not enough. $200,000
How much do you have?
quote:Married with no children
And are you single or married?
quote:I'll have atleast $300,000 when I have children
How much should a single person have as compared to married with kids?
ETA: After reading this thread, it appears that I'm underinsured
This post was edited on 10/30/14 at 2:23 pm
Posted on 10/30/14 at 2:21 pm to BoogerOrchard
In addition, I could take care of my nephew, mother/father.
For my $15, if I get hit by a bus tomorrow. They get a ton of money from me for free. How awesome is that? Pretty significant.
For my $15, if I get hit by a bus tomorrow. They get a ton of money from me for free. How awesome is that? Pretty significant.
Posted on 10/30/14 at 2:23 pm to pooponsaban
quote:
pooponsaban
Just wrote a client of mine the other day.
Married, 30, five fricking kids....
He has a 1.5 million term through an association.
Wrote him a $750,000 WL for 15 years (in 15 yrs, it will be paid off).
He's paying $13,500 a year.
For 15 years, he would have paid in $200,000. So, for 200,000 he can have a tax free 750,000 guaranteed death benefit to those offspring. That 750 is the minimum we will pay upon death.
There are illustrations and cash values that go along with it as well, but you get the drift. Maybe not the best investment, but the easiest and least stressful.
Posted on 10/30/14 at 2:24 pm to Chuckd
quote:
Why wouldn't you buy whole life?
My understanding is that it is a terrible investment.
I am asking for clarification.
Do you sell insurance or something?
Posted on 10/30/14 at 2:25 pm to pooponsaban
No, I don't. I'm also asking. I was under the impression that it is the better option between the two, even though it's the more expensive
Posted on 10/30/14 at 2:25 pm to CherryGarciaMan
quote:
For 15 years, he would have paid in $200,000. So, for 200,000 he can have a tax free 750,000 guaranteed death benefit to those offspring. That 750 is the minimum we will pay upon death.
And if he doesn't die he is out $200,000? Or is some portion of that vested at 15 years?
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