Getting in shape saves $
I had a term life policy for $107 a month that was going to go up to $140 a month for the next five year band and then rise again every five years.
I shopped around after losing some weight and getting all my health numbers in line.
Now at 60 I get 100K twenty year term for 55 a month permanent rate with no five year band increases!
I should use the savings to buy another gun!
LOL
I shopped around after losing some weight and getting all my health numbers in line.
Now at 60 I get 100K twenty year term for 55 a month permanent rate with no five year band increases!
I should use the savings to buy another gun!
LOL
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Had to renew my term policy following the 4th of my surgeries.
$ 1,600.00 per month for a $ 1 Million policy.
Apparently the insurance company figures that there is just under a 20% chance that I wouldn't see the 10 year mark.
Tried to convince the beneficiary that the near $ 20,000 per year would be better put into a growth and equity fund, but apparently this beneficiary thinks that ten years may not be in the cards either.[:I]0 -
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I wonder how much weight I lost since I went nutzo and agreed to purchase something way out of my budget then went on a budget. I could've been eating lobsters instead of shrimp Top Ramen [:D]. I stated out at 255 before this adventure. I'll weigh myself at work. 0 -
My dad wanted me to take out as much life insurance as I could afford on him when he was 60. At the time I told him I thought it was more of it, but he said he's going to die when he dies whether I do or not. so I might as well make some money on it. Of course he had a life insurance policy for Mom, but he figured I may as well capitalized on his death, as he put it. I never did becausee like I say I thought it was morbid. He only lived nine more years, I could have made millions and I done like he suggested. But at the time like I said I thought it was morebid, and even when he passed away I don't think I would have felt right taking the money.
Now I'm trying to convince my kids to take out a life insurance policy on me for the same reasons... Funny how your thought processes change as you age.0 -
quote:Originally posted by remingtonoaks
My dad wanted me to take out as much life insurance as I could afford on him when he was 60. At the time I told him I thought it was more of it, but he said he's going to die when he dies whether I do or not. so I might as well make some money on it. Of course he had a life insurance policy for Mom, but he figured I may as well capitalized on his death, as he put it. I never did becausee like I say I thought it was morbid. He only lived nine more years, I could have made millions and I done like he suggested. But at the time like I said I thought it was morebid, and even when he passed away I don't think I would have felt right taking the money.
Now I'm trying to convince my kids to take out a life insurance policy on me for the same reasons... Funny how your thought processes change as you age.
My Friends Father was a retired fairly wealthy attorney. When he was 65, he told his 3 boys start paying the premium on his seven figure Life Policy and they could split half the policy amongst themselves and get the better part of the second half when their Mother passed.[B)]
They thought it wasn't fair and the Old Man let his policy lapse and only the Insurance Co. made money.[V][V]0 -
quote:Originally posted by gearheaddad
quote:Originally posted by remingtonoaks
My dad wanted me to take out as much life insurance as I could afford on him when he was 60. At the time I told him I thought it was more of it, but he said he's going to die when he dies whether I do or not. so I might as well make some money on it. Of course he had a life insurance policy for Mom, but he figured I may as well capitalized on his death, as he put it. I never did becausee like I say I thought it was morbid. He only lived nine more years, I could have made millions and I done like he suggested. But at the time like I said I thought it was morebid, and even when he passed away I don't think I would have felt right taking the money.
Now I'm trying to convince my kids to take out a life insurance policy on me for the same reasons... Funny how your thought processes change as you age.
My Friends Father was a retired fairly wealthy attorney. When he was 65, he told his 3 boys start paying the premium on his seven figure Life Policy and they could split half the policy amongst themselves and get the better part of the second half when their Mother passed.[B)]
They thought it wasn't fair and the Old Man let his policy lapse and only the Insurance Co. made money.[V][V]
You can't blame the father, why should he pay for a big windfall for his kids, if his kids can afford to pay for it themselves0 -
I said the same thing! I told my wife why in the HELL am I paying for a policy that will only benefit her!
I don't carry much, we have some assets and my only concern is if I predecease her early she might need a little extra.
Don your million is ten times my policy so your premium would probably be 160 a month for 100K.
Depending on your age that ain't too bad I guess.0 -
Based on Don's numbers beneficiary can get 1 million with a measley 20K a year investment. 384K in twenty years.
Heck even 30 years would only cost 600K to insure if level premium with a million back to ya!
Plus remember with level payments inflation makes your premium "cheaper" over the years
quote:Originally posted by remingtonoaks
My dad wanted me to take out as much life insurance as I could afford on him when he was 60. At the time I told him I thought it was more of it, but he said he's going to die when he dies whether I do or not. so I might as well make some money on it. Of course he had a life insurance policy for Mom, but he figured I may as well capitalized on his death, as he put it. I never did becausee like I say I thought it was morbid. He only lived nine more years, I could have made millions and I done like he suggested. But at the time like I said I thought it was morebid, and even when he passed away I don't think I would have felt right taking the money.
Now I'm trying to convince my kids to take out a life insurance policy on me for the same reasons... Funny how your thought processes change as you age.0 -
quote:Originally posted by mogley98
I said the same thing! I told my wife why in the HELL am I paying for a policy that will only benefit her!
I don't carry much, we have some assets and my only concern is if I predecease her early she might need a little extra.
Don your million is ten times my policy so your premium would probably be 160 a month for 100K.
Depending on your age that ain't too bad I guess.
When my wife was alive I told her the only reason why I carry an insurance policy is because if I preceded her in death, I didn't want to see her have to become a prostitute to make a living. I also told her that if she had to depend on her looks to make a living, she would starve to death...[:0][:0][:0]
I slept on the couch for a long time...[B)][B)][B)]
[:o)][:o)][:o)]0 -
[:0][:0][:D][:D][:D]quote:Originally posted by remingtonoaks
quote:Originally posted by mogley98
I said the same thing! I told my wife why in the HELL am I paying for a policy that will only benefit her!
I don't carry much, we have some assets and my only concern is if I predecease her early she might need a little extra.
Don your million is ten times my policy so your premium would probably be 160 a month for 100K.
Depending on your age that ain't too bad I guess.
When my wife was alive I told her the only reason why I carry an insurance policy is because if I preceded her in death, I didn't want to see her have to become a prostitute to live. and I told her that if she had to depend on her looks to make a living, she would starve to death...[:0][:0][:0]
I slept on the couch for a long time...[B)][B)][B)]
[:o)][:o)][:o)]0 -
quote:Originally posted by remingtonoaks
When my wife was alive I told her the only reason why I carry an insurance policy is because if I preceded her in death, I didn't want to see her have to become a prostitute to make a living. I also told her that if she had to depend on her looks to make a living, she would starve to death...[:0][:0][:0]
I slept on the couch for a long time...[B)][B)][B)]
[:o)][:o)][:o)]
When I took out my policy, the wife asked if we should take one out on her.
I just asked her 'Why?'
She fairly quickly understood.[:I]0 -
quote:Originally posted by remingtonoaks
quote:Originally posted by gearheaddad
quote:Originally posted by remingtonoaks
My dad wanted me to take out as much life insurance as I could afford on him when he was 60. At the time I told him I thought it was more of it, but he said he's going to die when he dies whether I do or not. so I might as well make some money on it. Of course he had a life insurance policy for Mom, but he figured I may as well capitalized on his death, as he put it. I never did becausee like I say I thought it was morbid. He only lived nine more years, I could have made millions and I done like he suggested. But at the time like I said I thought it was morebid, and even when he passed away I don't think I would have felt right taking the money.
Now I'm trying to convince my kids to take out a life insurance policy on me for the same reasons... Funny how your thought processes change as you age.
My Friends Father was a retired fairly wealthy attorney. When he was 65, he told his 3 boys start paying the premium on his seven figure Life Policy and they could split half the policy amongst themselves and get the better part of the second half when their Mother passed.[B)]
They thought it wasn't fair and the Old Man let his policy lapse and only the Insurance Co. made money.[V][V]
You can't blame the father, why should he pay for a big windfall for his kids, if his kids can afford to pay for it themselves
I can't blame the Father at all. The Boys/young adults were just young and stupid.0
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