Whole life ins

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Wed Aug 12, 2009 11:26 pm   Post subject: insurance  

............oh, yea,....I guess I COULD ask someone at 'my' unit. Didn't even think about that. (Guess I'm having a 'Senior' moment today..LOL) Embarassed

sdchargersfan
Senior member
Leave a quick message

sdchargersfan

Joined: 21 Aug 2007
Posts: 2052


5.14 Dollars($)

PostPosted: Thu Aug 13, 2009 12:34 am   Post subject: insurance  

hey, thanks...............I already saved the info on my PC. I appriciate the advice. Where did you hear of them?..I've never heard of them before.

sdchargersfan
Senior member
Leave a quick message

sdchargersfan

Joined: 21 Aug 2007
Posts: 2052


5.14 Dollars($)

PostPosted: Thu Aug 13, 2009 12:52 am   Post subject: insurance  

I sure will pass the word along to friends. Thanks. I'm sure some of my 'Clients' would like this information, as well.

sdchargersfan
Senior member
Leave a quick message

sdchargersfan

Joined: 21 Aug 2007
Posts: 2052


5.14 Dollars($)

PostPosted: Thu Aug 13, 2009 11:15 am   Post subject:   

Quote:
The SGLI coverage 'kicks in' ONLY when something happens to me (God forbid), then it's 'content' is handed to my POA/friend and my son. ...both, of whom are 'Primary' Beneficiaries. The SGLI doesn't hold any kind of 'cash value'. I think I can still hold on to it, even when I leave the Military, but, I would have to pay a MUCH higher price for being a 'Civilian'. I pay $27.00 for $400,000.00 of Life Insurance right now




I'm not trying to pick on you. I just want to make sure that you understand. You need to stop referring to your friend as your POA when it pertains to life insurance. At death, you do not have a POA. POAs are only for living people. If your friend and son are equal beneficiaries, at death, your friend will get $200,000 and your son will get $200,000. This is perfectly acceptable if you want your friend to have $200,000 and you want her to use it to benefit herself and her own family. This is not acceptable if you want that money to somehow benefit your child. It has not do with the law and not trust.
InsuranceExpert
Senior member
Leave a quick message



Joined: 05 Apr 2009
Posts: 662


142.74 Dollars($)

PostPosted: Fri Aug 14, 2009 2:00 am   Post subject: insurance  

MM.....i see what you mean. Actually, the way I changed it is my friend is getting 5% and my son 95%. If my son is still a minor, a 'Trust' is set up until he reaches an 'adult' age. I understand what you mean about the POA/friend 'thing.

sdchargersfan
Senior member
Leave a quick message

sdchargersfan

Joined: 21 Aug 2007
Posts: 2052


5.14 Dollars($)

PostPosted: Sun Aug 30, 2009 9:53 pm   Post subject: 76 yr old woman  

why wold mutual of ohmaha ins sell 2 whole life policys to a 76 yr old woman just 4 mos ago. Doesnt make good sense to me seems like a scam. Thanks for any help Crying or Very sad


_________________
Register Now to have your Insurance queries solved.
want to help
Guest







PostPosted: Sun Aug 30, 2009 10:50 pm   Post subject:   

They would sell it to her because they think that if enough 76 year old females in her health buy insurance, they can be profitable. She will buy it because to her the premium is worth the death benefit.

InsuranceExpert
Senior member
Leave a quick message



Joined: 05 Apr 2009
Posts: 662


142.74 Dollars($)

PostPosted: Tue Sep 01, 2009 11:04 pm   Post subject: insurance  

Well.......(thinking outloud) Was this policy sold to her, for HER benefit or the Insurance Co's benefit? Did she REALLY understand the policy,etc? I have Elderly 'clients' who have signed Insurance policies and really din't understand what they were 'getting into'. They find out later, the Insurance policy wasn't as 'beneficial' as they thought.

sdchargersfan
Senior member
Leave a quick message

sdchargersfan

Joined: 21 Aug 2007
Posts: 2052


5.14 Dollars($)

PostPosted: Wed Sep 02, 2009 11:49 am   Post subject:   

An insurance company will only sell a policy if they think that the insurance company will benefit. A policy owner will only buy a policy if the policy owner feels that they will benefit.



All sales should be done in this manner. Both the seller and the buyer should be happy with the sale/purchase.

InsuranceExpert
Senior member
Leave a quick message



Joined: 05 Apr 2009
Posts: 662


142.74 Dollars($)

PostPosted: Mon Sep 07, 2009 12:25 pm   Post subject:   

You can deal with it as a investment. It is not bad. You give more choose about the life insurance, and you can make the right decision. But i think the whole life insurance is important, if you have more spare money and time you can invest other projects too.

davidnn
New member
Leave a quick message



Joined: 07 Sep 2009
Posts: 17

Location: Chicago
10.43 Dollars($)

PostPosted: Mon Sep 07, 2009 3:16 pm   Post subject:   

Insurance is not an investment.

dgoldenz
Senior member
Leave a quick message



Joined: 10 Jan 2009
Posts: 392

Location: Virginia
5.24 Dollars($)

PostPosted: Tue Sep 15, 2009 6:48 am   Post subject: wholelife  

First of all, if the agent sold you this policy as an investment for "living" benefits, they should'nt have. The definition of insurance is to create an immediate estate.You will never be allowed to make a "profit" until you die. Period. I don't know of any regular whole life policies that ever allow you to have both the death benefit AND the cash value.

agent07
New member
Leave a quick message



Joined: 14 Sep 2009
Posts: 14


3.50 Dollars($)

Quick Reply
Your Name
Subject
Message body
All times are GMT
 Previous  1, 2
Page 2 of 2


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

AmPmInsure on Facebook



Page loaded in 0.218 seconds.