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Cancer, term life, & retirement
Posted on 11/22/15 at 1:34 am
Posted on 11/22/15 at 1:34 am
- 42 yr old male
- recent cancer diagnosis
- current high school coach/teacher
I haven't started doing the research yet, but had a quick question for anyone that might have some knowledge in this area. My fiancee is listed as my beneficiary on both my term life and my state teachers retirement. If this situation ends up taking me out, I'm curious if the designated amounts will be paid to her in full, or will any outstanding personal bills/loans of mine be deducted/seized/garnished first? Thanks.
- recent cancer diagnosis
- current high school coach/teacher
I haven't started doing the research yet, but had a quick question for anyone that might have some knowledge in this area. My fiancee is listed as my beneficiary on both my term life and my state teachers retirement. If this situation ends up taking me out, I'm curious if the designated amounts will be paid to her in full, or will any outstanding personal bills/loans of mine be deducted/seized/garnished first? Thanks.
7
Posted on 11/22/15 at 7:14 am to Coach72
She would get the face value of the life insurance policy as beneficiary because it's not part of your estate. Your retirement may be a different story. Check with the retirement system to get a definitive answer.
Sorry about your cancer. That really sucks at your young age.
Sorry about your cancer. That really sucks at your young age.
Posted on 11/22/15 at 7:39 am to Coach72
They can't touch the items you give here as a beneficiary. Those are non probate assets. Life insurance, retirement benefits, annuities and IRAs will all transfer to her once she provides necessary documentation.
Checking account values and such can be utilized to pay your estate bills.
Now, go get busy kicking cancers arse!! Best of luck to you.
Checking account values and such can be utilized to pay your estate bills.
Now, go get busy kicking cancers arse!! Best of luck to you.
Posted on 11/22/15 at 4:45 pm to Coach72
Walter White...?
Sorry about you diagnosis. Best of luck to you and kick its arse!
Sorry about you diagnosis. Best of luck to you and kick its arse!
Posted on 11/23/15 at 4:30 am to Coach72
may i ask what you have
or what you got it from?
do you smoke or drink
if too personal i understand
hope you beat it
or what you got it from?
do you smoke or drink
if too personal i understand
hope you beat it
Posted on 11/23/15 at 7:05 am to beauchristopher
quote:
may i ask what you have
or what you got it from?
do you smoke or drink
if too personal i understand
hope you beat it
Posted on 11/23/15 at 9:12 am to Coach72
Thanks for the responses.
Yeah, must admit the Walter White thing crossed my mind and made me chuckle, perhaps there's another way to achieve a similar end result - since I have virtually no knowledge in chemistry whatsoever!
Just regular old plain jane melanoma that started with a mole on my thigh.
Yeah, must admit the Walter White thing crossed my mind and made me chuckle, perhaps there's another way to achieve a similar end result - since I have virtually no knowledge in chemistry whatsoever!
Just regular old plain jane melanoma that started with a mole on my thigh.
Posted on 11/23/15 at 9:21 am to beauchristopher
quote:
may i ask what you have
or what you got it from?
do you smoke or drink
if too personal i understand
hope you beat it
Wow--you must be young, if you still perceive cancer as primarily deriving from things you ingest. Live long enough and you'll have the misfortune to know MANY people who eat right, never smoke, don't drink, exercise, and get cancer anyway.
Posted on 11/26/15 at 10:47 pm to Coach72
can a non-spouse get your TRSLA retirement benefits? not sure, but I do think your WIFE will only receive your retirement IF you retire before you pass. if not, I think the spouse would only receive the $ you put into the system, with no $ from the state's contribution. Worth checking into asap
Posted on 11/27/15 at 8:10 am to Coach72
Coach, stay on top of it and beat it. I've had several friends that have beat melanoma. I lost my brother to it 20 years ago. He had a melanoma removed from his face years before and didn't follow up. He had a brain tumor that they traced back to the melanoma. Please follow up with your doctor, he didn't.
Posted on 11/27/15 at 1:46 pm to Coach72
quote:
Just regular old plain jane melanoma that started with a mole on my thigh.
Sorry about your diagnosis, good luck to you. Neighbor across the street got that diagnosis in his mid-50's, stage 3. That was 7 years ago and he is just like before the diagnosis. I had my own bout with the big C 3.5 years ago with a stage 3 tumor (nothing to do with melanoma), you can beat it.
Posted on 11/27/15 at 3:10 pm to Gevans17
I think you're correct, but retirement's still a ways off. No biggie.
Good news this week. PET scan seemed to indicate it hadn't spread beyond the groin lymph node. All appears stable for now. Start Yervoy treatment in a few weeks, and a possible side effect is weight loss - might be a silver lining here!
Appreciate the positivity - thanks.
Between ISIS, the LSU coaching situation, and the upcoming election, I'll have plenty to keep me occupied.
Good news this week. PET scan seemed to indicate it hadn't spread beyond the groin lymph node. All appears stable for now. Start Yervoy treatment in a few weeks, and a possible side effect is weight loss - might be a silver lining here!
Appreciate the positivity - thanks.
Between ISIS, the LSU coaching situation, and the upcoming election, I'll have plenty to keep me occupied.
Posted on 11/28/15 at 6:51 am to Coach72
quote:
Good news this week. PET scan seemed to indicate it hadn't spread beyond the groin lymph node.
That is good news. I have two friends who have beat melanoma. One had it over 30 years ago. I have cancer too. Hang on to your life insurance policies as it will be difficult to buy more. I had a couple of policies with a 20 year term and then the premiums went up. The 20 years was up on one and a year away on the other so I went ahead and extended both with higher premiums. Anyway, be sure to look at your options with any life insurance you have.
Posted on 11/28/15 at 12:14 pm to Coach72
Good luck, brother. Kick its arse
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