April 30, 20214 yr Anybody bought a term life policy lately? Curious if there was some kind of Kayak/Hotwire type place out there for this, or if you just called a few companies and picked the best rate?
April 30, 20214 yr https://www.policygenius.com/ They'll at least get you a buncha different quotes. Then, send a couple emails to a couple agents, and see if they'll beat whatever quote you get.
April 30, 20214 yr https://www.ethoslife.com/ This is what you are looking for if I read you right as looking for the Lemonade of Life Insurance.
April 30, 20214 yr From what I hear on the radio if you're on meds, have the diabeetus, are a fat tub of lard, or your future 3rd ex wants you to buy a $1 million policy so she can fuck you to death you should call big Lou. https://www.bigloulife.com/getquotegoogle?gclid=EAIaIQobChMI0N7o3c2m8AIVcgytBh32DQH7EAAYASAAEgK8wfD_BwE Edited April 30, 20214 yr by NeverMarryAStripper
April 30, 20214 yr 20 minutes ago, NeverMarryAStripper said: From what I hear on the radio if you're on meds, have the diabeetus, are a fat tub of lard, or your future 3rd ex wants you to buy a $1 million policy so she can fuck you to death you should call big Lou. https://www.bigloulife.com/getquotegoogle?gclid=EAIaIQobChMI0N7o3c2m8AIVcgytBh32DQH7EAAYASAAEgK8wfD_BwE He's like you, but on wife number 2.
April 30, 20214 yr Author 3 hours ago, DonkeyCigars said: https://www.ethoslife.com/ This is what you are looking for if I read you right as looking for the Lemonade of Life Insurance. Not familiar...what is Lemonade?
April 30, 20214 yr 10 minutes ago, Bill Clay said: Not familiar...what is Lemonade? A digital disruptor to the traditional industry of home/rent insurance: https://boingboing.net/2021/04/30/lemonade-is-a-homeowner-and-rental-insurance-option-for-people-who-hate-insurance-and-its-crazy-easy.html Edited April 30, 20214 yr by DonkeyCigars
May 1, 20214 yr https://www.policygenius.com/ They'll at least get you a buncha different quotes. Then, send a couple emails to a couple agents, and see if they'll beat whatever quote you get.I used them in the past and it was a good experience.
May 1, 20214 yr Author Trying Policygenius which seems good so far, but Quotacy.com is the current leader in the clubhouse. We'll see how it works out.
May 2, 20214 yr On 4/30/2021 at 10:40 AM, DonkeyCigars said: https://www.ethoslife.com/ This is what you are looking for if I read you right as looking for the Lemonade of Life Insurance. Apparently Lemonade is the Lemonade of life insurance. https://www.lemonade.com/life Edited May 2, 20214 yr by Hornlover
May 21, 20214 yr Author Update. Used Quotacy.com and it was a good experience. Policygenius also good but not quite as personal. Quotacy gave me a dedicated rep and Policygenius didn't so I'd recommend them for that reason alone really. Everything else was easy. Ethos had weird carriers with low coverages unsuitable for Surly 1%. Lemonade flat out denied me. Edited May 21, 20214 yr by Bill Clay
May 23, 20214 yr Policygenius seems to be working best for me right now. The best quote came in much lower than what the Knights of Columbus offered me last year, so I'm currently in underwriting with the company Policygenius recommended. (It was also lower than the same company via Quotacy.) Guess I'll see how that goes and if it holds up.
May 23, 20214 yr What is going to be the best TYPE of life insurance for a 76 year old woman with multiple health issues (none cardiac related, but clumsy AF & having upcoming surgeries on spine)? Mom is constantly wanting to buy into a "funeral home / end of life expenses" policy & I keep telling her these are just another insurance program but with crappier rates / lower payouts. What say the Shag brain trust?
May 23, 20214 yr Those things seldom make sense on a purely mathematical basis, but they do give the elderly a peace of mind that does have value beyond the NPV or IRR. If she’s got the disposable income or plenty of cash in savings and it lets her rest easy or tell Marge over bridge that she’s done well by her kids, it’s not the worst thing. If she’s paying for it instead of for food, medicine, or compromising her lifestyle in some other way, then keep her away from them. Personal finance gets messy when you deal with the personal side and aren’t just looking at the finance.
May 23, 20214 yr OK, but what TYPE of life insurance? I am far (far) from knowledgeable about these products. & I'm trying to sway her away from the stuff that is sold / pushed by the funeral industry. because somewhere in the back of my brain I know it's not the right value.
May 24, 20214 yr Get with an agent and see if she can qualify for a small whole life policy- maybe $10-$15k - depending on her health they may underwrite her or may steer her towards a guaranteed issue final expense plan. Could be forced as high as $25-$50k but maybe not. Might also shop the web for limited or no underwriting final expense plans. probably smart to stay away from preplanned funeral home products.
May 24, 20214 yr 2 hours ago, ROFL BOX said: OK, but what TYPE of life insurance? I am far (far) from knowledgeable about these products. & I'm trying to sway her away from the stuff that is sold / pushed by the funeral industry. because somewhere in the back of my brain I know it's not the right value. IMHO, Term life on an elderly person is going to be just too expensive and whole life is a racket, sorry Reagan. Like it was noted earlier, these descisions depend on A LOT of personal inputs. I would tell her just to set some cash aside for her final plans (you can also good Clark Howard and there are co-op groups for end of life planning thst are cheaper) and have her put her wishes down on a will or on paper and to discuss them with you.
May 24, 20214 yr 3 minutes ago, Nonbryan said: IMHO, Term life on an elderly person is going to be just too expensive and whole life is a racket, sorry Reagan. Like it was noted earlier, these descisions depend on A LOT of personal inputs. I would tell her just to set some cash aside for her final plans (you can also good Clark Howard and there are co-op groups for end of life planning that are cheaper) and have her put her wishes down on a will or on paper and to discuss them with you. Well, shit. So much for a $ 250,000.00 payday when Mom kicks the bucket. You're no fun.
May 24, 20214 yr 13 minutes ago, Nonbryan said: IMHO, Term life on an elderly person is going to be just too expensive and whole life is a racket, sorry Reagan. Like it was noted earlier, these descisions depend on A LOT of personal inputs. I would tell her just to set some cash aside for her final plans (you can also good Clark Howard and there are co-op groups for end of life planning thst are cheaper) and have her put her wishes down on a will or on paper and to discuss them with you. Correct- no way to use term insurance. Too expensive and not what the need is. She wants something to be there regardless of when she dies. Term covers a certain period of time - wrong product application. I’ll agree with you that in many, many cases, whole life appears to be a racket- but that’s really an indictment on the sales tactics and justifications- not on the product itself. If there is a need for insurance for an entire life period, regardless of when death occurs, then you need to insure the whole life. IMO- you have to differentiate between between the product being shit and the tactics being used to sell it where it’s not the right tool. whole life is a financial tool- used for the right reason it can be beneficial. Misapplied, I’ll agree it is a racket. It may or may not work for @ROFL BOX but it should be vetted, as term will be a non starter as you pointed out. There may be other options too. Gotta kick some tires and look for the best tool to fix the problem.
May 24, 20214 yr 37 minutes ago, ROFL BOX said: Well, shit. So much for a $ 250,000.00 payday when Mom kicks the bucket. You're no fun. It can be a bit concerning for the insured when you tell them- “yeah I know the annual premium is really high, but don’t worry mom, you won’t be paying premiums but for a month, maybe two max.....I promise.”
May 24, 20214 yr Mom is a different kind of bird - she would want us to have some loot upon her demise.Sent from my SM-G950U1 using Tapatalk
August 19, 20214 yr Anyone with thoughts on how much is enough? Via work and a small policy I have with my home/auto/umbrella I have just about $1mm of term but that isn’t enough from what I deduce. Is there a rule of thumb? 10x income?
August 19, 20214 yr Unique to every family dynamic. Does spouse work outside home? Would that continue? Dependent minors / disabled dependents? College Plans? Additional costs when you're dead (housekeeping, lawn, pool-boy to entertain wife?) Several other things to consider - retirement for spouse, etc. 10x is a quick and dirty catchall but can be too much or not enough. Plenty of calculators on line, or you can work with a fee only planner or agent and have them run the numbers.
August 19, 20214 yr Odds are your wife would be remarried within two years and that money will support your replacement’s hobbies. Keep that in mind.
August 19, 20214 yr The more you have the higher class of guy she'll be able to attract once you're gone.
August 19, 20214 yr if I remember correctly, @C-Man is in the insurance business and can help you out. (not sure if he does life insurance though)
August 20, 20214 yr 9 hours ago, Dutchrudder said: if I remember correctly, @C-Man is in the insurance business and can help you out. (not sure if he does life insurance though) I have my life/health license but that was back in 2008 when I got it. I'm strictly on the P&C side for the last 13 years. My firm does lots and lots of life insurance, though. If you're Surly 1%, I'm happy to make an introduction to a colleague if somebody wants it. Edited August 20, 20214 yr by C-Man
August 20, 20214 yr Odds are your wife would be remarried within two years and that money will support your replacement’s hobbies. Keep that in mind. Is she hot?Is that hotness enough that I would tolerate the usual bullshit?Please keep in mind that I would probably need a buyout clause for the current wife before I am able to move on to this newfound widow, so that should be incorporated into this policy.Sent from my SM-G950U1 using Tapatalk
August 20, 20214 yr 2 hours ago, ROFL BOX said: Is that hotness enough that I would tolerate the usual bullshit? I could tolerate a lot for access to a $1M tax free insurance payout.
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