Gotta get some…
Talk to me about it.
Paging willybean…
My dad has a policy on me, and has since I was 16. :shrug: I’m interested to see what comes about in this thread.
Never was interested in a product that gives people incentive for me to be dead…
holy shit. since.
fixedB4Threadturnsintospeelingnazidrama
I was never sure that it made since to have life insurance sense I do not want my wife to kill me. That said, my company pays for a policy that pays 2x my salary to my wife, and I carry and additional 250K through the same company. I have not taken anything on her or the baby, but it is an option that I may consider in the future.
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LO FUCKING L Speeling hahahahahaha
this thread has offered no value as yet.
none of you guys have any experience with this?
:tup:
The week before my son was born I started a 750k Term Life 30 year with William Penn. It costs me about 550/year. From what my family’s accountant recommended you should have enough to cover your expected earnings for ten years. I figured that would be enough to cover his college/first house and whatever else comes along. As a father, i feel that it is completely wrong not to have a policy but that is just my opinion.
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Btw, If I was willing to drop it to 20 year I think it was around 3 hundred and change but that was a couple years ago.
^This and BUY NOW, DO NOT WAIT. Old people like me pay much more. $500,000 for 30 years = $1200/year at 40 years old. Still pennies on the dollar but…
Shoot me a pm on specifics…
What are you trying to accomplish? coverage for your family? business succession? estate planning? life insurance as an investment? Inexpensive (term) vs Whole vs universal? I’m not huge on the life side anymore, but I can do my best to make sure you dont get taken advantage of. Would this be a canadian policy?
Feel free to post here if you want info to be public…
PS … thanks for the referral fry and jam and alllllll (I was in Lauderdale from 8 am till about an hour ago writing some new business… sorry for slacking ;))
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I will say that 750k is more than most people have, and is great that you took the first step to protect your family, especially if the mother isnt the “bread winner” but 30 years out… 750k will be worth 200k in 30 years… (assuming just under 4% inflation) My guess is in 30 years, he wouldnt need 200k (todays dollars ) but it’d sure help out. :tup:
^^ The man when it comes to life insurance and stuff like that.
PS: New business :tup:
PPS: We’re trying to come down soon, butt-fucking plane tickets are $500/person round trip. We may drive and bring the doggs. :kisses:
My husband has a great policy through his employer but alo took an additional one out for me. We also have one for my youngest daughter (now 17). We took the policy out on her when she was only 3 to assure her coverage when she got older because they could deny her because of a pre-exisiting medical condition if she were to try and get it on her own. She was diagnosed with a brain tumor at age 1 and another at age 3. Our insurance rep advised us to take this policy out just so she would have insurance when she got older because there was a chance she could be denied because of it.
Thanks bud.
Thats fine… Hope they like the new dog… I’m sure diesel would love to see sunny.
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Probably more important than the life insurance policy would be to establish an SNT (special needs trust) so you dont drop 1 million dollars into an incompetent child/adult’s hands that will stop them from getting on medicaid. (Its more responsible to try to self insure, I understand that, but if you both were to pass away and she was given the money or a guardian was… who’s to say it would go to the child and her welfare.) That being said… make her a beneficiary to an SNT, and that money can go to her when its needed, or pass on to other beneficiaries should the state take over full payment 
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EDIT: this is they type of planning that I do on a regular basis for the over 80 crowd who are trying to protect their childrens inheritance/ their spouses only nest egg…
Quick example…
a spouse at age 75 who’s income drops from 6000 to 1100 a month (because her husband died) who only has 100k of liquid assets, a mortgage on her house, and a car payment… is in a world of hurt that she didnt need to be in, if they would have planned properly before her husband moved into a nursing home and then died 3 years and 180,000 dollars later.
Tough to plan around 100k in assets… now imagine it when she has NO assets and the same problems.
yeah it would be a canadian policy and i already have the provider selected, i just need to know what is best for me and would prefer to get peer advice rather than from the agent.
i like the idea of insurance as an investment vs. term but i dont really know the specific differences between them and why one is better than the other.
I chose to stay away from cash value insurance because from what I understand you can get a much better rate of return by investing that money else where. I am def not an expert on this though. The way I plan it, by the time my 30 year term is up I plan to have a net worth more than the policy if I am still alive so at that point life insurance will not be necessary. I do not like the idea of giving the money away like that but I think that works best for my situation.
Probably more important than the life insurance policy would be to establish an SNT (special needs trust) so you dont drop 1 million dollars into an incompetent child/adult’s hands that will stop them from getting on medicaid. (Its more responsible to try to self insure, I understand that, but if you both were to pass away and she was given the money or a guardian was… who’s to say it would go to the child and her welfare.) That being said… make her a beneficiary to an SNT, and that money can go to her when its needed, or pass on to other beneficiaries should the state take over full payment ;)[COLOR=“Silver”]
Thanks for the input. I will give the info to my husband.
What are you trying to accomplish? … that changes everything? is this for your wife and child?
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The idea behind it as an investment is its A permanent, and B. Larger companies pay dividends that are typically very fair and better than CD rates for certain. Not to mention paid up additions raise the insurance corridor (gap between death benefit and cash value too) so if you die and have cash value… youre death benefit is typically higher than its original DB.
Also… lets say you had a 1 million dollar policy… and you are terminal or very sick… viatical settlements normally offer a lucrative way of selling the policy off for more than the CV as well … viaticals are so morbid to me though, but I’ve seen them do great things in LARGE (10 million plus) estate planning cases.
i just want to have a life insurance policy 
i’d consider getting one for the wife as well i suppose… it would primarily be for the wife and kids as beneficiaries if i die in a horrible awesome socks related stabbing incident.