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Re: Input wanted from BMW owners

rjaycox wrote:
ginmqi wrote:I acknowledge my bias against BMWs. I am personally a car guy and one of my future cars WILL be a E39 M5.


I fixed your statement for you. :D
You will love that car! Just sayin'....


Russ


x2, just keep it out of the shop :shock:
by BruDude
Tue Apr 14, 2015 1:40 pm
 
Forum: Personal Consumer Issues
Topic: Input wanted from BMW owners
Replies: 44
Views: 4355

Re: Input wanted from BMW owners

Jeeze, why would anyone buy one of these things. In laws friends were describing how it costs $300 to change a battery because some setting on the car has to be reset and you cant do it yourself. What a ripoff. Because the V8 revving to 8200 RPMs with a catless exhaust is just incredible :sharebeer...
by BruDude
Mon Apr 13, 2015 1:37 pm
 
Forum: Personal Consumer Issues
Topic: Input wanted from BMW owners
Replies: 44
Views: 4355

Re: Input wanted from BMW OWNERS

I Would love to hear from bmw owners on how much I should budget for repairs maint. A lot. I have an M3, fortunately with extended warranty. A few months ago the evaporator unit for the a/c went out, would have cost $3,400 to fix without the warranty. I had a 335 diesel, the gas tank sensor broke (...
by BruDude
Sun Apr 12, 2015 8:33 pm
 
Forum: Personal Consumer Issues
Topic: Input wanted from BMW owners
Replies: 44
Views: 4355

Re: Barrons Article on LTC Insurance

How would someone with a net worth of $5 million benefit from LTCi? If I understand things correctly, the policies which are available now have a max 5 year payout. Even at $200K per year, that's only 20% of the person's net worth. And $200K per year is the SWR. This makes no sense. By paying less ...
by BruDude
Sun Apr 12, 2015 1:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Barrons Article on LTC Insurance
Replies: 12
Views: 1056

Re: Long-term care hybrid insurance - is this a good idea?

The other advantage of the hybrid products is that underwriting is more lenient, because the risks balance out. Long-term-care insurance is more expensive for the insurer if you are in poor health, and thus insurers won't offer it unless you meet medical standards. An annuity is more expensive for ...
by BruDude
Sat Apr 11, 2015 5:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long-term care hybrid insurance - is this a good idea?
Replies: 12
Views: 1410

Re: Long-term care hybrid insurance - is this a good idea?

IMO the only reason to use a hybrid product is if you are on the fence and want the return of premium option in case you get cold feet a few years in. Long term care insurance is for long term care insurance and life insurance is for life insurance. Combining the two products doesn't magically make ...
by BruDude
Fri Apr 10, 2015 12:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long-term care hybrid insurance - is this a good idea?
Replies: 12
Views: 1410

Re: Why pay more than face value for a gift card

With gift cards on ebay a lot of it is related to credit card fraud. People create both buyer and seller accounts and then use stolen credit card numbers to "buy" items for well over their actual value. Essentially they are just milking cash out of the stolen cards. x2 They are usually bo...
by BruDude
Fri Apr 10, 2015 10:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Why pay more than face value for a gift card
Replies: 19
Views: 1877

Re: Disability insurance - is until age 65 worth it?

I kept my disability policy until my portfolio was at a point able to cover most of the disability payment. I think it also was designed to age 65. In your case, 5 years would make me squirm. It sounds like you won't be ready to go bare, and the next policy premium may be out of reach at that point...
by BruDude
Thu Apr 09, 2015 9:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Disability insurance - is until age 65 worth it?
Replies: 9
Views: 724

Re: Disability Income Insurance - Individual vs Group

Your current policy will have much better benefits than any group policy you will find. The agent is also correct that having group disability insurance available to you will limit the amount of FIO you can exercise, except you may not be able to opt out of the employer coverage. If the employer pa...
by BruDude
Thu Apr 09, 2015 9:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Disability Income Insurance - Individual vs Group
Replies: 7
Views: 218

Re: Disability insurance - is until age 65 worth it?

At age 45, there is a decent argument for a 10-year benefit versus age-65, but I would take the age-65 over a 5-year benefit if you can afford it. 98% of term life insurance policies never pay a dime, but people still buy it....statistics that apply to large groups of people as a whole shouldn't imp...
by BruDude
Thu Apr 09, 2015 8:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Disability insurance - is until age 65 worth it?
Replies: 9
Views: 724

Re: Disability Income Insurance - Individual vs Group

Your current policy will have much better benefits than any group policy you will find. The agent is also correct that having group disability insurance available to you will limit the amount of FIO you can exercise, except you may not be able to opt out of the employer coverage. If the employer pa...
by BruDude
Thu Apr 09, 2015 8:50 am
 
Forum: Personal Finance (Not Investing)
Topic: Disability Income Insurance - Individual vs Group
Replies: 7
Views: 218

Re: Disability Income Insurance - Individual vs Group

Your current policy will have much better benefits than any group policy you will find. The agent is also correct that having group disability insurance available to you will limit the amount of FIO you can exercise, except you may not be able to opt out of the employer coverage. If the employer pay...
by BruDude
Thu Apr 09, 2015 8:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Disability Income Insurance - Individual vs Group
Replies: 7
Views: 218

Re: should my disability premium be rising

Did you buy a policy with a graded premium? Most disability policies have level premiums, and the majority of those have guaranteed premiums too. Seems like I must have. If you are telling me most polices have level premiums, that is really all I need to know. If your policy has a graded premium, t...
by BruDude
Tue Apr 07, 2015 3:22 am
 
Forum: Personal Finance (Not Investing)
Topic: should my disability premium be rising
Replies: 3
Views: 455

Re: 20 year term life, 500k each or 1m each

Is that $71 and $52 per month supposed to be for each person, or combined?
by BruDude
Mon Apr 06, 2015 1:20 am
 
Forum: Personal Finance (Not Investing)
Topic: 20 year term life, 500k each or 1m each
Replies: 10
Views: 1448

Re: should my disability premium be rising

Did you buy a policy with a graded premium? Most disability policies have level premiums, and the majority of those have guaranteed premiums too.
by BruDude
Mon Apr 06, 2015 1:18 am
 
Forum: Personal Finance (Not Investing)
Topic: should my disability premium be rising
Replies: 3
Views: 455

Re: 2 months out of health insurance coverage

hmw wrote:I don't think you will pay a penalty if your gap is less than 3 months.


x2, no penalty
by BruDude
Mon Apr 06, 2015 12:20 am
 
Forum: Personal Finance (Not Investing)
Topic: 2 months out of health insurance coverage
Replies: 4
Views: 788

Re: My Term Life Insurance

on disability insurance---fyi---you can't buy it until you are set to actually make money. While you can decide to take less they rarely allow you to insure for more than 60% of your income. Physicians and other high-earning occupations can get coverage before they start working. Residents can get ...
by BruDude
Mon Mar 30, 2015 11:25 am
 
Forum: Personal Finance (Not Investing)
Topic: My Term Life Insurance
Replies: 39
Views: 3365

Re: My Term Life Insurance

1. One thing the insurance agent told me was that combining the spouses policy on to mine as a rider actually saved costs for the very reason that they were combined. He could be wrong and I could be wrong, but I would think two policies are more complicated than one policy with a rider. But the ov...
by BruDude
Sun Mar 29, 2015 8:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: My Term Life Insurance
Replies: 39
Views: 3365

Re: My Term Life Insurance

Seems high. $3M for the full 30 years for someone in perfect health would be $139/mo with Assurity and $150-160/mo with a few others. $500k 20 years on your wife is probably $20/month. If you subtract out everything but my life insurance, it was $150/month. As a comparison, the same laddered policy...
by BruDude
Fri Mar 27, 2015 8:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: My Term Life Insurance
Replies: 39
Views: 3365

Re: My Term Life Insurance

Seems high. $3M for the full 30 years for someone in perfect health would be $139/mo with Assurity and $150-160/mo with a few others. $500k 20 years on your wife is probably $20/month.
by BruDude
Fri Mar 27, 2015 6:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: My Term Life Insurance
Replies: 39
Views: 3365

Re: Cheap Disability insurance

I bought the Metlife Income Guard last year as it was cheaper than Guardian after taking the AMA discount. Did not see any differences then. However, I realized a difference later. One thing to note about Metlife Income Guard. The catastrophic is for "irrecoverable damage", but for Guardi...
by BruDude
Thu Mar 26, 2015 10:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Cheap Disability insurance
Replies: 17
Views: 1739

Re: Do we need irrevocable life insurance trust (ILIT)?

I really appreciated your earlier posts on this subject. I tinkered with the idea of having an ILIT policy several years ago when the exemption levels were much lower and the projections for our estate would have us exposed to substantial estate taxes. Back then, we never got quotes for annual prem...
by BruDude
Tue Mar 24, 2015 1:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do we need irrevocable life insurance trust (ILIT)?
Replies: 27
Views: 1789

Re: Do we need irrevocable life insurance trust (ILIT)?

Let me start out: I am an estate planning attorney and do not sell life insurance. * * * If it's goal number 2, you do not need to buy a full $10 million insurance to address where you plan to have your finances in 20 years (10 million), because even at the old 55% tax rates you only would need $4....
by BruDude
Tue Mar 24, 2015 1:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do we need irrevocable life insurance trust (ILIT)?
Replies: 27
Views: 1789

Re: Do we need irrevocable life insurance trust (ILIT)?

If you are going to have that large of a life insurance policy, then yes you should set up an ILIT to remove the proceeds from the value of the estate. If you do not have the policy in an ILIT and the excess over the exemption becomes subject to the estate tax, it's going to cost your child(ren) and...
by BruDude
Mon Mar 23, 2015 1:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do we need irrevocable life insurance trust (ILIT)?
Replies: 27
Views: 1789

Re: Suggestions and advice for term life policy

powermega, Thank you for posting that information. It's a interesting solution to the longer-term LI need. In our case, we fully want our D to be self-supporting after the completion of her education and the term LI is intended to cover her educational costs. Frankly I wish there was a "declin...
by BruDude
Thu Mar 19, 2015 1:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Suggestions and advice for term life policy
Replies: 20
Views: 1274

Re: Accident insurance to cover health insurance deductible?

If the $15/mo will cover your entire $6k deductible in the event an accident, I would say it's worth paying for unless that $15 is really going to make a difference in your budget. You would only need one major accident every 30 years to justify the expense. I have a lot of clients with accident pla...
by BruDude
Thu Mar 19, 2015 12:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Accident insurance to cover health insurance deductible?
Replies: 6
Views: 463

Re: Suggestions and advice for term life policy

Brudude, Is the declining-value Prudential policy a level-term? Because we don't want to deal with increasing premiums over the next 10 years. If it's a regular term, then I haven't shopped for those policies. I could buy 2-level term policies, each at half the desired insured value and let one lap...
by BruDude
Thu Mar 19, 2015 12:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Suggestions and advice for term life policy
Replies: 20
Views: 1274

Re: Suggestions and advice for term life policy

Several companies offer "term" on a UL chassis. I believe they do it for different reserve requirements. Term benefits decrease on their own just bc of inflation. The benefits don't decrease, they just become less valuable over time. I would almost always buy a regular term policy over a ...
by BruDude
Thu Mar 19, 2015 11:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Suggestions and advice for term life policy
Replies: 20
Views: 1274

Re: Suggestions and advice for term life policy

powermega, Thank you for posting that information. It's a interesting solution to the longer-term LI need. In our case, we fully want our D to be self-supporting after the completion of her education and the term LI is intended to cover her educational costs. Frankly I wish there was a "declin...
by BruDude
Thu Mar 19, 2015 11:30 am
 
Forum: Personal Finance (Not Investing)
Topic: Suggestions and advice for term life policy
Replies: 20
Views: 1274

Re: when did/would you terminate disability insurance?

Anyone relying on group disability insurance for coverage should read your policy carefully and understand exactly how it works. It probably does not cover what you think it covers. SSDI is just about worthless and even if you qualify, the payouts are minimal compared to what most people on BH are e...
by BruDude
Mon Mar 16, 2015 3:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: when did/would you terminate disability insurance?
Replies: 35
Views: 2716

Re: Whole Life Insurance as asset protection

Here's a list of asset protection laws from different states: http://www.assetprotectionsociety.org/state-asset-protection-laws/ We once had someone contact us on behalf of a pretty well known musician looking to buy a $10M whole life policy in Florida since the state protects all cash value inside ...
by BruDude
Sun Mar 15, 2015 1:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance as asset protection
Replies: 40
Views: 3047

Re: Term Life Insurance...

Hey guys I would like to get some advice on Term Life Insurance and I figured you guys would be the best for it. I just turned 30 and bought a house (~415k left on the mortgage). No kids, No Wife, Non-Smoker, Excellent shape. If I go, I would like to be able to leave my beneficiaries (whoever they ...
by BruDude
Thu Mar 12, 2015 1:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance...
Replies: 6
Views: 378

Re: Good Expensive Dental Plans

Don't know about California and implants, but have you looked at MetLife Dental as an option? For what they do cover, they seem to process claims quickly and pay providers faster then many. I don't think MetLife sells individual dental insurance in any states, but I could be wrong. They mostly do g...
by BruDude
Thu Mar 05, 2015 2:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good Expensive Dental Plans
Replies: 12
Views: 1064

Re: Good Expensive Dental Plans

Spirit Dental covers implants but the benefits are reduced in the first two years of the policy. I think in the first policy year they cover 10-20% of charges, and by the third policy year they cover ~50%. They have the highest maximum benefit I've seen anywhere, up to $3500 annually (most plans lim...
by BruDude
Thu Mar 05, 2015 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good Expensive Dental Plans
Replies: 12
Views: 1064

Re: Disability insurance

Some professional associations, AMA, ABA, offer group coverage. Some college alumni groups also offer this. You can make this more affordable by choosing a longer waiting period before collecting benefits. Social Security Disability becomes available after 5 years for those that are totally disable...
by BruDude
Mon Mar 02, 2015 10:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Disability insurance
Replies: 4
Views: 384

Re: Disability insurance

Group disability and individual disability insurance are really two completely different products. I would not even try to compare the price of an individual policy with group - yes, group coverage will usually be cheaper, but the coverage isn't nearly as good. There are a lot of policy terms/defini...
by BruDude
Mon Mar 02, 2015 2:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Disability insurance
Replies: 4
Views: 384

Re: Life insurance - how much is needed

8-15x income for someone your age is usually in the ballpark. It really depends what you want to cover - do you want to fund college educations for children? Replace income for your spouse? Pay off all debts and mortgage? Here's a good needs calculator that you can play around with: http://www.lifeh...
by BruDude
Fri Feb 27, 2015 1:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance - how much is needed
Replies: 18
Views: 1406

Re: please recommend a life insurance company

Any company with an A+ financial rating is fine, just buy whichever has the lowest cost. I would suggest working with an independent agent that sells for many companies. You can check some rates yourself on http://www.term4sale.com without providing personal information. Instead of laddering, you co...
by BruDude
Sun Feb 22, 2015 3:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: please recommend a life insurance company
Replies: 3
Views: 472

Re: "Term-Like" Universal Life Policy

These type policies are often a little less expensive than similar term policies. They perform exactly like a similar twenty year term policy, premium guaranteed for the period and death benefit guaranteed for the period. Commissions are almost identical to term policies. The company doesn't have t...
by BruDude
Sun Feb 22, 2015 3:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Term-Like" Universal Life Policy
Replies: 8
Views: 520

Re: Disability Insurance - MetLife vs The Standard

Thanks for the replies. I'm guessing that the better MetLife riders will only increase the price gap even more. And I had gotten a Guardian quote which was higher than both with similar conditions. I'm told the Standard policy was less because the occupation class they have me in plus the business ...
by BruDude
Tue Feb 17, 2015 3:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance - MetLife vs The Standard
Replies: 6
Views: 423

Re: Disability Insurance - MetLife vs The Standard

MetLife also has a True Own Occupation definition of disability under their Regular Occupation rider, so I'm not sure why the comparison is being made with the Transitional definition. Make sure the MetLife policy includes the Enhanced Residual rider on your quote (they have several types of the Res...
by BruDude
Tue Feb 17, 2015 12:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance - MetLife vs The Standard
Replies: 6
Views: 423

Re: Life insurance company ratings - A+ vs A++

A+ rating is fine, very few companies have A++ and the ones that do are usually higher priced and have more strict underwriting.
by BruDude
Fri Feb 13, 2015 11:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance company ratings - A+ vs A++
Replies: 9
Views: 824

Re: Rejected from disability insurance

Psoriatic arthritis is in every underwriting guide as an automatic decline, they won't even look at the treatment history after it's been diagnosed. Unfortunately, his only options are going to be guaranteed-issue coverage through his employer or possibly AMA if they are offering it. Some "subs...
by BruDude
Mon Feb 09, 2015 10:30 am
 
Forum: Personal Finance (Not Investing)
Topic: Rejected from disability insurance
Replies: 18
Views: 1951

Re: Multi-state medical insurance (US)

Kaiser Permanente offers coverage to residents of many areas of California. If her "residence" is California, see if she is in an area where Kaiser offers coverage. Then, look to see if Kaiser has service areas in the other two states. Kaiser has wide coverage in the Washington DC, suburb...
by BruDude
Thu Feb 05, 2015 4:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Multi-state medical insurance (US)
Replies: 8
Views: 565

Re: IRS warning on falsifying income

... When you have a large variation in income based on the different deductions taken each year, reporting any income changes to the marketplace isn't really possible. Whatever, assuming you're talking about Schedule C, which is above the line, and not Schedule A which is below it. I don't want to ...
by BruDude
Wed Feb 04, 2015 6:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRS warning on falsifying income
Replies: 15
Views: 3000

Re: IRS warning on falsifying income

... Yeah, so what is a "reasonable estimate"? If the income is estimated at $30k for a family of 4, they would qualify for the cost-sharing reduction 94% subsidy on top of the premium tax credits. CSR subsidies can't be clawed back by the government. Theoretically the government could cla...
by BruDude
Wed Feb 04, 2015 3:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRS warning on falsifying income
Replies: 15
Views: 3000

Re: IRS warning on falsifying income

And where is the line for "falsifying" income as a self-employed person with highly variable income? Nobody at HC.gov's call center seems to know, they just tell you to call the IRS. The IRS doesn't know, they don't have any guidelines. If you put down that your expected income is $30k an...
by BruDude
Wed Feb 04, 2015 2:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRS warning on falsifying income
Replies: 15
Views: 3000

Re: IRS warning on falsifying income

And where is the line for "falsifying" income as a self-employed person with highly variable income? Nobody at HC.gov's call center seems to know, they just tell you to call the IRS. The IRS doesn't know, they don't have any guidelines. If you put down that your expected income is $30k and...
by BruDude
Wed Feb 04, 2015 1:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRS warning on falsifying income
Replies: 15
Views: 3000

Re: Retire middle of year - How to sign up for ACA?

while it is technically correct that if you sign up by April 20 you are eligible for coverage May 1st, I would strongly encourage you to sign up early in the month that you will loose coverage, particularly before the 15th of the month. There have been problems with people signing up at the end of ...
by BruDude
Tue Feb 03, 2015 3:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retire middle of year - How to sign up for ACA?
Replies: 14
Views: 1039

Re: Retire middle of year - How to sign up for ACA?

Once you know the termination date of your existing coverage you can sign up for an ACA plan. One of the application questions asks if you are losing coverage in the next 60 days. The policy will become effective the first of the month after the date the application was submitted (ex: group coverage...
by BruDude
Tue Feb 03, 2015 1:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retire middle of year - How to sign up for ACA?
Replies: 14
Views: 1039
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