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Re: Term Care 80 Northwestern Mutual - What to do for Life I

I agree the NML policy appears expensive, but do realize that the term4life website gives you some artifically low rates as well. You likely won't get the best rates shown - some of the agents won't even try for them. JT The NWM policy will be more expensive across all risk classes compared to what...
by BruDude
Sat Sep 20, 2014 4:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Care 80 Northwestern Mutual - What to do for Life Ins.
Replies: 15
Views: 908

Re: You may want to rethink the odds of ever needing LTCi

Very odd the article left out any analysis of home care. Home care is by far the preference, not nursing homes, so this analysis is pretty skewed. And unfortunately those living needs riders typically only cover nursing home and scantily at that. That's the first thing that I thought about. IN-HOME...
by BruDude
Tue Sep 16, 2014 12:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 63
Views: 6166

Re: You may want to rethink the odds of ever needing LTCi

LTCi also pays for home healthcare which can also be a huge cost, especially if someone needs 24 hour care/supervision, which can often be the case with Alzheimer's/dementia. Many people absolutely refuse to put a family member in a nursing home unless medically necessary, so using statistics about ...
by BruDude
Mon Sep 15, 2014 1:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 63
Views: 6166

Re: contingent beneficiary for life insurance

Set up a revocable trust if you want to be able to make changes in the future. An irrevocable life insurance trust (ILIT) will keep the death benefits outside of the estate, but as the name implies, is irrevocable once it's been executed. The trust documents will spell out who gets what money and wh...
by BruDude
Tue Sep 09, 2014 11:37 am
 
Forum: Personal Finance (Not Investing)
Topic: contingent beneficiary for life insurance
Replies: 8
Views: 564

Re: Life insurance with a smoking spouse

$1M is probably a starting point if he is making $100k+ and you aren't working. Buy the life insurance in the amount that you need and can afford, then re-apply in the future if he ever quits for at least a year. A smoker will pay 2-3x the price for the same coverage as a non-smoker. On a side note...
by BruDude
Mon Sep 08, 2014 1:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with a smoking spouse
Replies: 38
Views: 1283

Re: Life insurance with a smoking spouse

I would lock in a longer term base because it's just not going to get any cheaper for coverage..... Shop around but your going to have to accept it's not going to be the cheapest option or anything you see advertised..... Maybe work out the bare min you need rather than what you would like to help ...
by BruDude
Mon Sep 08, 2014 1:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with a smoking spouse
Replies: 38
Views: 1283

Re: Life insurance with a smoking spouse

$1M is probably a starting point if he is making $100k+ and you aren't working. Buy the life insurance in the amount that you need and can afford, then re-apply in the future if he ever quits for at least a year. A smoker will pay 2-3x the price for the same coverage as a non-smoker. On a side note,...
by BruDude
Mon Sep 08, 2014 1:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with a smoking spouse
Replies: 38
Views: 1283

Re: Buy a 30 and 20 term policy at the same time?

He said when he was shopping to other companies for the 30 year term (Banner, SBLI, Prudential), due to a health condition I was born with they are rating me worse than he believes NM would , since he has had people with my condition and they underwrite on a person by person basis BS. Did he even c...
by BruDude
Tue Sep 02, 2014 2:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buy a 30 and 20 term policy at the same time?
Replies: 16
Views: 1128

Re: Pay more for term you can convert? Prudential vs. Banner

Banner has conversion options too...find a new agent if that's what they told you.
by BruDude
Fri Aug 29, 2014 12:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pay more for term you can convert? Prudential vs. Banner
Replies: 4
Views: 507

Re: Term Life Insurance Help

Mine does have term portability, but a max of $500k and it does make me nervous to not know the costs as they relate to the age bands or if my company changes insurers. You could use your employer group insurance as a secondary, temporary insurance, discontinuing it when you leave the company or th...
by BruDude
Tue Aug 26, 2014 2:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance Help
Replies: 16
Views: 730

Re: Term Life Insurance Help

Mine does have term portability, but a max of $500k and it does make me nervous to not know the costs as they relate to the age bands or if my company changes insurers. You could use your employer group insurance as a secondary, temporary insurance, discontinuing it when you leave the company or th...
by BruDude
Tue Aug 26, 2014 1:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance Help
Replies: 16
Views: 730

Re: Term Life Insurance Help

Have you and your wife asked about buying life insurance through your companies? I have the impression that would be the lowest cost. Be sure that you can continue the insurance at the same price if/when you leave that employer. As far as the amount of insurance, I would think you don't have to wor...
by BruDude
Tue Aug 26, 2014 1:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance Help
Replies: 16
Views: 730

Re: Term Life Insurance Help

I would buy $2M of 20-year term over $1M of 30-year if that's what you need. Here's a helpful life insurance calculator that you can play around with - http://www.lifehappens.org/insurance-overview/life-insurance/calculate-your-needs/ $1M should probably be the minimum if you want to pay off the mor...
by BruDude
Tue Aug 26, 2014 1:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance Help
Replies: 16
Views: 730

Re: term life insurance, renewable only

Non-can is for disability insurance, not life insurance.
by BruDude
Tue Aug 26, 2014 10:39 am
 
Forum: Personal Finance (Not Investing)
Topic: term life insurance, renewable only
Replies: 2
Views: 149

Re: So am I a terrible father? [inheritance question]

Dutch wrote:Please adopt me :P


x2
by BruDude
Tue Aug 19, 2014 12:02 am
 
Forum: Personal Finance (Not Investing)
Topic: So am I a terrible father? [inheritance question]
Replies: 31
Views: 4478

Re: Health Insurance Premium is HSA eligible expense?

You can only use HSA funds for COBRA premiums. Cannot be used for individual market plans.
by BruDude
Fri Aug 15, 2014 5:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Premium is HSA eligible expense?
Replies: 13
Views: 1506

Re: Ohio National vs Pacific Life Term Life Insurance

Both are good companies. Ohio National has better conversion options if you are looking at the "Term Plus" product.
by BruDude
Wed Aug 13, 2014 12:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ohio National vs Pacific Life Term Life Insurance
Replies: 1
Views: 151

Re: Purchasing long term care insurance for relative

Seems like more of a personal decision than anything else. If you cancel this policy, buying a new one will probably cost 3x what you are currently paying for the same benefits.
by BruDude
Tue Aug 12, 2014 5:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Purchasing long term care insurance for relative
Replies: 15
Views: 943

Re: Should I waive Federal Employees Group Life Insurance?

FEGLI is a good deal if you are in poor health, bad deal if you are in good health. Conversions are very expensive if you ever leave the government and want to continue the coverage. I would just get whatever term policies you want and skip the extra coverage available through FEGLI.
by BruDude
Mon Aug 11, 2014 12:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I waive Federal Employees Group Life Insurance?
Replies: 12
Views: 1056

Re: Physician Long term Disability- Premium pre or post tax

You're much better off paying tax on the value of the premium and getting the benefits tax free.
by BruDude
Sun Aug 10, 2014 8:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Physician Long term Disability- Premium pre or post tax
Replies: 21
Views: 1204

Re: Term4sale.com vs USAA vs both?

My understanding is they are more picky with underwriting than others. Thus, if you have any sort of health issue, don't use them? Yes they are. USAA rates are very competitive, but their underwriting is more conservative than other companies so someone that might get Preferred Plus rate with a com...
by BruDude
Wed Aug 06, 2014 2:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term4sale.com vs USAA vs both?
Replies: 10
Views: 1035

Re: What do you think? Medical Coverage Cost / Coercion ?

You'll see a lot more of this as ACA becomes fully implemented. Another thing that is become very prevalent is denying coverage to spouses if they have access to their own group health insurance, regardless of cost. If this is a large company, I would venture to say that they have done their researc...
by BruDude
Wed Aug 06, 2014 2:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: What do you think? Medical Coverage Cost / Coercion ?
Replies: 38
Views: 1784

Re: Opinions appreciated on current physician disability pol

The problem is that there is zero evidence that the wording leads to an actual difference when it comes time for claims when comparing those individual polices (I'm not talking much weaker or group polices or the known exclusions like 24 month mental). If you happen to come across a NWM agent, they...
by BruDude
Wed Aug 06, 2014 1:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Opinions appreciated on current physician disability policy
Replies: 23
Views: 1079

Re: Opinions appreciated on current physician disability pol

A couple of last comments. First, I'm surprised it was 18 years even without the TVM. That further reinforces my view of the graded premiums. However, you make a good point that just like many things in personal finance it isn't all about math, it's also about behavior. If a level premium helps som...
by BruDude
Wed Aug 06, 2014 1:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Opinions appreciated on current physician disability policy
Replies: 23
Views: 1079

Re: Opinions appreciated on current physician disability pol

It seems to me that a lot of the time the Guardian benefits are really quite minimal compared to some of the other policies. For example, aside from the 2 year limitation on mental/nervous, how many clients have you ever had where one of the other 5 companies wouldn't pay and you thought Guardian w...
by BruDude
Wed Aug 06, 2014 12:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Opinions appreciated on current physician disability policy
Replies: 23
Views: 1079

Re: Opinions appreciated on current physician disability pol

EmergDoc, I'll try to clarify a couple points: 1. I didn't mean to imply that Guardian has the best coverage for everyone. MetLife was even mentioned as a good option in my post above. However, Guardian does have the best benefits in the industry and I doubt you will find anyone who will argue that....
by BruDude
Wed Aug 06, 2014 2:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Opinions appreciated on current physician disability policy
Replies: 23
Views: 1079

Re: Has anyone bought a home with Redfin?

If you want cash back from your agent, use hungryagents.com. I was able to get a bid from an agent that gave me 50% of her commission. She seemed just as knowledgeable as any other buyers agent would have been. Penfed has a similar cash back program too but only gives 0.5% like Redfin.
by BruDude
Wed Aug 06, 2014 2:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Has anyone bought a home with Redfin?
Replies: 11
Views: 1351

Re: HDHP vs PPO (least bad choice)

I also want to point out that an HDHP can also be a PPO. PPO just refers to the plan network, so an HDHP can be an HMO, PPO, EPO, or POS. Alphabet soup.
by BruDude
Wed Aug 06, 2014 1:29 am
 
Forum: Personal Finance (Not Investing)
Topic: HDHP vs PPO (least bad choice)
Replies: 13
Views: 822

Re: Opinions appreciated on current physician disability pol

In general, a good DI policy will cost 2-5% of your annual income for a maxed out policy depending on your age, gender, and occupation. A surgeon will be closer to 3-4% of income due to the lower occupation class. DI isn't cheap and watching those checks go to the insurance company every month isn'...
by BruDude
Wed Aug 06, 2014 1:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Opinions appreciated on current physician disability policy
Replies: 23
Views: 1079

Re: HDHP vs PPO (least bad choice)

What are the out of pocket maximums? Are we assuming your health expenses at this time are minimal?
by BruDude
Wed Aug 06, 2014 1:02 am
 
Forum: Personal Finance (Not Investing)
Topic: HDHP vs PPO (least bad choice)
Replies: 13
Views: 822

Re: Opinions appreciated on current physician disability pol

Are you paying too much? Well, excessive cost is only excessive in the absence of value. Guardian has the best benefits in the industry, so then the question becomes "how much am I paying with Guardian compared to other companies?" and "Do I see the value in paying $X per month for th...
by BruDude
Tue Aug 05, 2014 9:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Opinions appreciated on current physician disability policy
Replies: 23
Views: 1079

Re: Sensible planning for MediGap choices given price disper

Claims handling should be relatively the same with all companies since Medicare approves the claim first and then the insurance company has to pay within a specified time frame, which I think is 3-4 days max. Many people don't comparison shop and some companies want to push people towards a certain ...
by BruDude
Mon Aug 04, 2014 4:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sensible planning for MediGap choices given price dispersion
Replies: 18
Views: 634

Re: Term Life Insurance

It really depends on what tests are involved and the results. The agent really shouldn't know what the results might be. Ask the company for the lab results immediately. If your agent is an independent agent he can guide you to other companies that view the results differently. Or, take the results...
by BruDude
Mon Aug 04, 2014 3:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance
Replies: 12
Views: 1008

Re: Term Life Insurance

It really depends on what tests are involved and the results. The agent really shouldn't know what the results might be. Ask the company for the lab results immediately. If your agent is an independent agent he can guide you to other companies that view the results differently. Or, take the results...
by BruDude
Mon Aug 04, 2014 2:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance
Replies: 12
Views: 1008

Re: Term Life for a Canadian living in the US?

Each company will underwrite green card holders differently too. Some won't give better than a standard risk class, so make sure you check with the agent to make sure of the risk class allowed before applying.
by BruDude
Mon Aug 04, 2014 2:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life for a Canadian living in the US?
Replies: 4
Views: 266

Re: Parents bought whole life — what next?

That's a universal life policy, not whole life. If the premium is guaranteed for life, that's a really good deal for a guy with a heart attack history. I'm very skeptical that it's a guaranteed premium though.
by BruDude
Thu Jul 31, 2014 2:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Parents bought universal life — what next?
Replies: 11
Views: 1636

Re: A question on long term care insurance

You should search the threads on ltci. Price isn't guaranteed on anything but limited pay polices. They had to request the rate increase from your state insur comm who approved it. It varies from state to state how hard that is to obtain. Nobody knows if you will have further increases. Price isn't...
by BruDude
Sat Jul 26, 2014 1:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: A question on long term care insurance
Replies: 18
Views: 994

Re: advise for 24 y/o who just bought Index Universal Life

Can you show me a case anywhere in the 50 states where someone gave someone else free financial advice, receiving no compensation, and was successfully sued? I'm not going to derail this post. You can get sued even if the other person is totally wrong. You'll still have to defend yourself and you p...
by BruDude
Sat Jul 26, 2014 5:47 am
 
Forum: Personal Finance (Not Investing)
Topic: advise for 24 y/o who just bought Index Universal Life
Replies: 15
Views: 1175

Re: advise for 24 y/o who just bought Index Universal Life

OP,, no good deed goes unpunished. But partial deeds are good. You are not her investment adviser, financial planner nor her father. And if she is a co-worker I am going to assume she is mentally competent. Why don't you refer her to this forum or even forward her this thread and let her do some re...
by BruDude
Sat Jul 26, 2014 2:05 am
 
Forum: Personal Finance (Not Investing)
Topic: advise for 24 y/o who just bought Index Universal Life
Replies: 15
Views: 1175

Re: advise for 24 y/o who just bought Index Universal Life

OP,, no good deed goes unpunished. But partial deeds are good. You are not her investment adviser, financial planner nor her father. And if she is a co-worker I am going to assume she is mentally competent. Why don't you refer her to this forum or even forward her this thread and let her do some re...
by BruDude
Fri Jul 25, 2014 10:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: advise for 24 y/o who just bought Index Universal Life
Replies: 15
Views: 1175

Re: Help! Term Life through an Irrevocable Life Insurance Tr

1. There are no direct tax consequences, but if you die within the first three years after transferring the policy to the ILIT, it will be counted against your estate for tax purposes. This is known as the "contemplation of death" rule. 2. You can apply for the life insurance policy with y...
by BruDude
Thu Jul 24, 2014 12:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help! Term Life through an Irrevocable Life Insurance Trust
Replies: 11
Views: 745

Re: Should I Buy a Home Warranty

The only reputable company is American Home Shield. We have used them for six and a half years. In that time they have paid for about $13,000 in work on our two successive homes, both of which were given rave reviews by the home inspectors. Old Republic is great, didn't deny a single claim in the h...
by BruDude
Wed Jul 23, 2014 4:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I Buy a Home Warranty
Replies: 19
Views: 1371

Re: Should I Buy a Home Warranty

The only reputable company is American Home Shield. We have used them for six and a half years. In that time they have paid for about $13,000 in work on our two successive homes, both of which were given rave reviews by the home inspectors. Old Republic is great, didn't deny a single claim in the h...
by BruDude
Wed Jul 23, 2014 3:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I Buy a Home Warranty
Replies: 19
Views: 1371

Re: Should I Buy a Home Warranty

After renting a house that had a home warranty and was used 8 or 9 times in a one year period, I decided to buy one for my new house. Spent $1700 for 5 years of coverage, already claimed about $1200 in the first half of this year. They cover all of the high-end appliances (Viking, GE Monogram, etc) ...
by BruDude
Wed Jul 23, 2014 2:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I Buy a Home Warranty
Replies: 19
Views: 1371

Re: Help with term life insurance initial purchase

There is GVUL and it is paid for by the employee (me). I would have to pay $24.00 every two weeks for $1,000,000 in coverage (given my age of 36). Rate stays the same until I am 40 to 44yo when it will be $39.00 per 2 weeks per $1,000,000. So, for now, that would be annual cost of $624 for $1,000,0...
by BruDude
Tue Jul 22, 2014 4:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with term life insurance initial purchase
Replies: 7
Views: 614

Re: Disability Insurance Question (physician)

A typical student/resident discount is 10% if it's available. If your program has unisex rates, it will save females another 20-30% and usually costs males an extra 10-15%, so sometimes the discount can offset the unisex rates and result in an actual cost increase or slight savings for men. The defi...
by BruDude
Tue Jul 22, 2014 2:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance Question (physician)
Replies: 2
Views: 337

Re: Boglehead Beer

Drank an original w00t stout from Stone last night, aged about a year, was pretty excellent. Saved half for tonight.

Image
by BruDude
Sat Jul 19, 2014 7:07 pm
 
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 386
Views: 48112

Re: Second Life Insurance Policy with Different Company?

You can have separate policies from as many companies as you want. The companies don't need to know about the policies at the other. The new company will definitely want to know about the prior coverage with the other company. Assuming OP is not going to be "over-insured" it shouldn't mat...
by BruDude
Sat Jul 19, 2014 7:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Second Life Insurance Policy with Different Company?
Replies: 2
Views: 382

Re: Dad had a whole life policy but it sounds like term life

Not all whole life policies pay dividends. This was probably a non participating policy.
by BruDude
Fri Jul 18, 2014 1:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Dad had a whole life policy but it sounds like term life?!
Replies: 25
Views: 1728
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