Life Insurance

[robin]

Are there any members in this field if so drop me a  P M.
   Thanks

[Jess from VA]

FYI  (no ins expert here, but)

Whatever coverage, type or amount of ins you get.... you want to nail the physical to secure the best rate (if there is one).  All of their lab work (blood and urine) is std.... except they are esp. looking at tobacco, drugs (script and otherwise), cholesterol, alcohol, and PSA (if you're over 40).  They will ask for you to provide your complete medical history and name all docs you've seen for 3-5 years (and sign releases for their records).  Withholding pertinent info could be grounds to refuse payment later, but  putting your best foot forward is a good idea.

For young people, this is no big deal, but for us older people, the rates go way up.

Also, once you are worth way more dead than alive, stay out from behind the wife's car.  

[fudgie]

Kinda interested to. Thx for the info Jess.
I got some through the Ind Vol FF Assoc a few years ago. They actually will pay you when you are sick and couldn't work. No matter how long, a day or more. The paperwork I had to do to claim it wasnt worth it. Had to track doctors etc. Ended up dropping it a few years ago. $20 a month for $250k, I think.
hope i'm note hijacking but...What are the current rates and places to get it? Thought about getting it through my insurance place since everything else is there. I'm covered if I die at a fire scene, its not much but something. Hospital also offered me some and this is definite, unless its a not a accident.

Robin, can you get it through the RR?

[Jess from VA]

Fudgie, life ins is not disability coverage (but they will probably be happy to sell you a package deal).  I have a personal aversion to all forms of insurance (warranty)... you are betting you will die, screw up, your house will burn down, you will wreck your car, etc... and you pray you lose the bet.

However, regular life ins is not for you, it is for your loved ones (or someone you choose to take care of).  There is a type that accrues cash value that you can sell at some point during your life, but you can do better with your money wisely investing (IMHO).

But here's the deal.  You are a youngster (no offense), and assuming you are healthy without preexisting condition(s), you can get a policy now for a quarter mil for pretty cheap, so long as you never let it lapse, with a guaranteed payment that stays the same forever (or 10, 20, 30 years).  If you try to get that same policy in your mid fifties, you'll be lucky to get it for $4-500 a month. 

So here are the questions, are you going to stay married? Are you going to have kids?  Realize if you take out the policy and pay the premiums, you can name any beneficiary you want, and change it anytime you want (ie at divorce........... unless you are married long enough her lawyer makes it part of the property settlement that you leave it in your ex-wifes name forever AND pay the premiums).  I had around a 300K policy, but when the wife walked out, I canceled it (no one else in my family is on hard times, and I live on a small pension).

If you are interested, you should get a company rep out to lay out all your options.  Be prepared to spend half a day, have questions and listen.  Do NOT buy from him (at least at first), but use him to educate you on your options.  Then, when you know what you are doing and what you want, shop the hell out of it for your best deal (just like anything else).  You probably don't even have to take a physical, but if your do, make sure your blood and urine are clean for 30 days (again, no offense). 

[Raverez]

Stay away from any policy that has a savings to it,  whole life, universal life, variable life. Get term life.
Its just insurance and no "extras".  Cost less per $1000. There are many companies that sell both types and will try to get you to convert a term life to a whole life or other after a year or two.
if you are fairly young, 20's,30's get it for as long a term necessary,  20- 30 years. If you think of the reason you need insurance, protect your income in event that you're not around to provide for your family, then you can figure out how much you need,  Usually about 10 times your annual income.
Hope that helps.

[fudgie]

Thx again Jess. No offense on the youngster! 
Yea I know its 'not' for me but for Kit, and to dad as secondary. Incase Kit is with me. Be good for him to pay off the farm. Figure I'm getting old enough to start looking. Just about out from under my old divorce and need to look to the future.
Not slowin down yet, I still got years of parties & rallies to attend.