InsInvestigator, you forgot a Dave Ramsey tattoo on the rear end.

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PostPosted: Mon Feb 11, 2008 6:50 pm   Post subject:   

OK ,But if a person takes a term policy because they cannot afford the permanent insurance there will be no difference to invest. What it sounds like to me is a gamble do I want to spend _amount of money for a term policy that will pay off if I die withion that term OR if I don't at the end of that term I may or may be able to change it to permanent or I may have just lost all those premiums. Am I understanding that correctly. Either you gain or the insurance company gains. BUT, if well over 90% of term policies are ever paid then the insurance compainies are making the most.

What smiles?

hummingbird
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PostPosted: Mon Feb 11, 2008 9:46 pm   Post subject:   

What a great conversation you guys have going on here.

Maze, I believe you have done a wonderful job thus far. I'm afraid, however, you will always run into resistance from those who have Suze Orman's picture taped to their refrigerator door.

Someone in their mid-50s are very rarely candidates for term insurance and even Suze knows that. Because she wants someone to have the money to settle her estate when she passes on, she owns a huge Variable Whole Life policy through Mass Mutual.

I do not think 30-year term policies with Return of Premium (ROP) riders are available past age 50.

If I were an agent tasked to help these people, I would have asked them the same questions you [Maze] did: Budget, needs, goals and if they want to pass money along to their loved ones when they die. If they don't, term might be the way to go and if they do, stay away from a term plan.

Pretty simple actually.



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PostPosted: Mon Feb 11, 2008 10:00 pm   Post subject:   

Quote:
I'm afraid, however, you will always run into resistance from those who have Suze Orman's picture taped to their refrigerator door.




InsInvestigator, you forgot a Dave Ramsey tattoo on the rear end.



I really don't understand how some of these people sleep at night.



Too many people end up in what I call the "Term Trap", no where to go with their life insurance program.



Believe me, I am used to this argument, but no one has convinced me yet.



Glad you survived your birthday.



Maze


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PostPosted: Mon Feb 11, 2008 11:33 pm   Post subject:   

Actually...there is no right answer to these questions. Not only are there different answers to each client's needs...but situations change rapidly. Someone who needed term a few years ago may now be better off converting the contract.



There is no one fit for each scenario...despite what Johnny Cochran would like you to believe. You know...if the glove don't fit...



By the way...White Death here in the Midwest tonight. And Tuesday as well.

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PostPosted: Tue Feb 12, 2008 1:13 am   Post subject:   

Maze,

Actually there was nothing to survive. I took it easy, stayed home and didn't even drink. My wife and I flew our plane up to Reno yesterday and dropped 6 or 7 housepayments - that pretty much sucked. You can't win them all and the flight home was incredibly beautiful.



I'm back today working on the first copy of a complaint against the big insurance company that's listed in the "Currently in the Spotlight" section of my website.



My personal "Get out of Debt" plan works somewhat differently than those of Orman, Ramsey, and Jimmy Cramer. You see, as long as there are dishonest, poorly trained, or delusional life insurance agents, I have job security. The aforementioned individuals are just aiding the cause.



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Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away.
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PostPosted: Tue Feb 12, 2008 4:01 pm   Post subject:   

I could have thought of better ways to use that money but its your money...lol

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PostPosted: Sun Nov 16, 2008 11:45 pm   Post subject:   

InsInvestigator has a couple links on his page that may address this. Clickl on the blue link under his name



I have visited your site Ins...pretty cool.

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PostPosted: Mon Nov 24, 2008 10:38 am   Post subject:   

Did you visit GN? It really is. I always find informational sites interesting.

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PostPosted: Sat Dec 13, 2008 2:17 am   Post subject:   

Think I have once or twice before, but have not lately, I am sure it is wonderful, as he puts forth good work in his every effort.

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PostPosted: Sun Dec 14, 2008 11:53 pm   Post subject:   

It takes a good person to do this. I like the site myself. I always click on links if it is something that effects me or I find it interesting. Usually you will find something out you did not know. When it comes to insurance the more you know the better you can protect yourself and your belongings.

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PostPosted: Mon Dec 15, 2008 3:38 am   Post subject:   

I have insurance (life) through my employer, also have survivor benefits through the Veterans Administration for my dependants. I just don't think that I need anymore. I think that everyone would be well taken care of if anything ever happened to me.



Do you have life insurance fireyone. I think mine is covered, not sure how they pay out but I know there is a pretty penny there to take care of my kid.

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PostPosted: Tue Dec 16, 2008 1:42 am   Post subject:   

Yes we are all covered through my husbands work. We purchase it through their for a really low cost. My coverage isn't nearly what his is because the mine carries a really high policy and we pay extra for the added insurance of me and our daughter. The best part is even if he is no longer employed with this company we can continue coverage.

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PostPosted: Sun Dec 28, 2008 12:00 am   Post subject:   

That is good that the policy stays with you if you leave the company, it has been known to happen, mining is really hard on ones body. Sounds like you guys have a descent plan and are well covered if the worse should happen.

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PostPosted: Sun Dec 28, 2008 3:05 pm   Post subject: insurance  

The Life Insurance I have, through the Military is great. I believe I can STILL keep it, even after I get out (whenever that may be..LOL) However..........i think I'd be paying a much HIGHER premiuim for it.

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PostPosted: Mon Dec 29, 2008 11:22 pm   Post subject:   

You will be able to keep it and the rates are not that high, they do offer a great life insurance package that is for sure. I wish I would have kept mine in place, I can get it back if my disability gets worse and they increase my percentage, I do have a case in the system so if they approve it, I will definately pick this civilian version of military life insurance up.

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