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Started By
Message
re: Who do you have Life Insurance with?
Posted on 4/27/26 at 10:27 am to La Place Mike
Posted on 4/27/26 at 10:27 am to La Place Mike
quote:
Not necessarily. It can only be converted to a Whole Life policy if there is a Conversion Option included with the policy
Well yea, did you not read the preceding sentence to the one you bolded? It specifically laid that out
. Put them both together and you get this: quote:
make sure to get whatever their version of a disability conversion and premium waiver rider on it. If you become disabled, your term policy will get converted to a whole life policy and premiums covered.
This post was edited on 4/27/26 at 10:28 am
1
Posted on 4/27/26 at 10:35 am to GoCrazyAuburn
Not all term plans have the Conversion option. I wanted to make sure that was evident. What you posted was vague and could have mislead someone into thinking all they need was the waiver if premium rider. My post was a personal sight towards you.
Posted on 4/27/26 at 10:41 am to La Place Mike
I think saying make sure to get X, it does Y isn't that vague, but if it helps add clarity for you, go for it
Posted on 4/27/26 at 11:27 am to GoCrazyAuburn
quote:It is because in this case X is 2 different things. It's the Waiver of Premium rider on a policy that includes the Conversion Option. Not all policies have the conversion option and the conversion option is not automatically activated when the waiver of premium rider is triggered. Some people might believe that if they have the waiver of premium rider and because they are disabled for more than 90 days, the conversion option is included if the rider is triggered. The coversion option may not have been included with the term policy they bought becuase they didn't know to ask. So it should be if you get X and the policy includes Y you could get Z.
I think saying make sure to get X, it does Y isn't that vague
I just want to make sure people reading this thread understand that.
You gave great advice that is often over looked.
Posted on 4/27/26 at 9:22 pm to Popths
Self “insurance” is not real. You can’t self insure. You can self pay which is fine if that works best for you. However, self insuring can’t happen. You don’t get the leverage that happens with insurance.
Posted on 4/27/26 at 9:24 pm to tke_swamprat
Horrible answer
Posted on 4/27/26 at 9:25 pm to LemmyLives
“Trip on their junk” just like Northwestern Mutual.
Posted on 4/27/26 at 9:27 pm to AllbyMyRelf
And your “CFP” was appointed with Prudential already so he showed you them. Did you ask him for comparable quotes from others?
Posted on 4/27/26 at 9:29 pm to lsucoonass
Because his “advisor” sells him insurance.
Posted on 4/27/26 at 10:48 pm to TX_Tiger23
lol he was actually Northwestern Mutual. Yes, got multiple quotes.
This post was edited on 4/27/26 at 10:49 pm
Posted on 4/28/26 at 7:58 am to TX_Tiger23
When you are debt free and in financial good standing, life insurance is not needed. Hence self insured.
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