Life Insurance: Coverage for you and your family

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PostPosted: Tue May 07, 2013 5:43 am   Post subject: Are people still here?  

All of the posts I see are old.



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dallas
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PostPosted: Tue May 07, 2013 5:45 am   Post subject:   

Are people still on this forum?



Thanks!

dallas
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PostPosted: Tue May 07, 2013 4:04 pm   Post subject: Are there any Life agents here?  

If so, please let me know what you think about this opportunity. I have more information about it bit this is an overview.

(Promotional link removed as per TOU)

Thanks!



Dallas

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PostPosted: Thu May 16, 2013 7:11 am   Post subject:   

What opportunity?

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PostPosted: Thu Sep 05, 2013 4:36 am   Post subject:   

Can I get life insurance for my 88 year old Mother


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PostPosted: Thu Sep 05, 2013 6:42 am   Post subject:   

Yeah, you can! But (depending on her health) that would burn your pocket. A better idea is keeping the money in a savings account. It'd help for the medical expenses, any debts, and the last rituals.



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PostPosted: Thu Sep 05, 2013 2:46 pm   Post subject:   

Quote:
(depending on her health) that would burn your pocket.
The part about burning a hole is reasonably accurate. As for the health issue, if you can even find a company willing to write new coverage on a person after age 84, it will be a guaranteed issue product with a limit of no more than $25,000, so health is not an issue.



If the primary (or only) concern is coverage for burial expenses, a local mortuary/funeral home may have other "pre-need" options that are less costly.


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PostPosted: Fri Feb 07, 2014 7:04 am   Post subject: life insurance  

My father had a life insurance policy thru independent forresters which he didn't know about and the executor changed it for her to be sole beneficiary saying I was a witness I know this wasn't done I have original policy what should I do?


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karenj
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PostPosted: Fri Feb 07, 2014 7:23 pm   Post subject:   

Quote:
My father had a life insurance policy thru independent forresters which he didn't know about




First things first: I'm assuming your father is no longer with us?



If not, has Foresters already paid a death claim?



At some point, someone took a life insurance policy out on him without his knowledge?



Quote:
the executor changed it for her to be sole beneficiary




The executor - a female - made changes to the policy? The key word here is Changed . To me, this indicates that at some point, the beneficiary was someone other than the evil executor.



Who named the original beneficiary? It obviously must have been the person who took out the policy without your father's knowledge.



If the policy was a big secret. how did the evil executor know about it - if she wasn't the original beneficiary or policy owner?



Quote:
I know this wasn't done I have original policy




Was it you that took the policy out on your father without his knowledge? Is that how you ended up with the original policy?



What [exactly] did you supposedly witness?


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PostPosted: Fri Feb 07, 2014 8:12 pm   Post subject:   

The real question that needs to be asked is "WHO IS THE POLICYOWNER?" That's the only person who has the right to make changes to the policy, such as naming the beneficiary.



An EXECUTOR only comes into "power" after a person has died, such as the executor of a will. But once a person has died, no changes may be made to a life insurance contract.



There is too much missing information to be able to address this more specifically at this time.



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PostPosted: Fri Feb 07, 2014 9:23 pm   Post subject:   

Max, you are always so abrupt! LMAO

We would have gotten there ...eventually



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PostPosted: Sun Mar 30, 2014 10:06 pm   Post subject: agent  

fails to change beneficiary per insured person request and insured person passes away what could I possible do about I talk to the agent and she doesn't understand why it isn't in system file also spoke with person at insurance company they told me to get agent and have her find the paper work where changes were made


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PostPosted: Tue Apr 01, 2014 4:17 am   Post subject: Mortgage Life Insurance  

If a decreasing term policy cost as much as a level term policy, why would any individual opt for mortgage life insurance?

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PostPosted: Wed Apr 02, 2014 9:10 pm   Post subject:   

5-, 10-, 20-, or even 30-year term policies, are merely the industry's way of avoiding the objection people have to the annual increase in the cost of term insurance.



The insurance company adds up the number of term premiums that will be required on the policy in total, divides by the number of years for which a level premium is guaranteed, discounts for the time value of the money using the interest rates available at the time, and charges the resulting level premiums rather than the actual yearly renewable term rate. in this, you can see the evolution toward level premium life insurance. In effect, the insurance companies charge more in the beginning so that they don't have to charge such a high amount at the end.



Yearly renewable term insurance normally is the most efficient way to provide for life insurance needs. When maximum protection is desired with the minimum current outlay of cash, we can level the cost of term insurance through the use of the mortgage term insurance. With mortgage insurance, coverage is taken away (i.e., the amount of life insurance is reduced) and the same amount is charged each year for the smaller amount of life insurance, as the policy owner gets older. Thus, the cost per $1000 of coverage does increase with age, but the premium stays the same because there is less coverage.



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PostPosted: Thu Apr 10, 2014 3:58 am   Post subject:   

A 30-year decreasing term policy should not cost the same as a 30-year level term policy for the simple reason Mark has stated above, the amount of protection is decreasing each year. If you have been quoted the same price for level and decreasing term from the same company . . . look somewhere else -- FAST!!



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MaxHerr
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