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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: 334

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: 334

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: 1273

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: 454

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: 497

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: 387

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: 387

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: 784

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: 1914

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: 546

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: 2939

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: 2939

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: 2939

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: 2939

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: 1000

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: 1000

Re: Group Universal Life - Worth keeping after retirement?

In order to sell the policy on the life settlement market it would have to be converted to an individual policy first. Although his health is improved, that would also mean his life expectancy has increased and therefore the policy becomes less attractive to a life settlement company. Life settlemen...
by BruDude
Tue Feb 03, 2015 12:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Group Universal Life - Worth keeping after retirement?
Replies: 21
Views: 1081

Re: Term Life Insurance Dilemma

The online policies I was talking about were gUL. I wanted a policy that was forever with level premiums-permanent term which doesn't exist apparently. GUL is "forever term" at price that's usually 50-60% lower than whole life. NWM doesn't do GUL because their company philosophy is sellin...
by BruDude
Mon Feb 02, 2015 10:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance Dilemma
Replies: 28
Views: 1675

Re: Term Life Insurance Dilemma

Why those two specific companies? There are plenty of reputable companies selling 30-year term. Buying a 10-year term and then waiting 10 years to buy a 20-year term will cost you a lot more money and who knows what your health will be like 10 years from now. Keep it simple and get a 30-year term po...
by BruDude
Sat Jan 31, 2015 4:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance Dilemma
Replies: 28
Views: 1675

Re: Is my term life policy quote too high?

I also have a family history, and broker steered me towards Prudential and Voya. Prudential only looks at deaths before the age of 60, and only asks about immediate family, (siblings and parents). Rates from other companies were WAY higher due to my family history, so definitely shop around. Almost...
by BruDude
Mon Jan 26, 2015 3:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my term life policy quote too high?
Replies: 39
Views: 2503

Re: Is my term life policy quote too high?

A couple of suggestions: Shop SBLI as well if your broker does not have a quote from them for you. Initially they had the lowest rate for me ( 33 yo, Male, 1 million 30 year term). I happen to have my Auto and Home/Umbrella policies with Amica so I received a Life quote from them as well. I receive...
by BruDude
Mon Jan 26, 2015 11:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Is my term life policy quote too high?
Replies: 39
Views: 2503

Re: Is my term life policy quote too high?

I broke the magic 40yr mark and I have a permanent med. No one is giving a "preferred plus" exceptional health plan to someone with med's or family history now that Obamacare has kicked in. I checked out 10 different providers and every one of them put me in the "Regular" averag...
by BruDude
Sun Jan 25, 2015 4:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my term life policy quote too high?
Replies: 39
Views: 2503

Re: Is my term life policy quote too high?

I wish I could get it for that. 43, non smoker, blood pressure med = $143.00 a month for $600k 20yr term. That's a good rate (for me) I shopped around. For those that bought term for under $90 a month how many years ago was that? I'm betting 5+ as ObamaCare helped raise prices a couple of years ago...
by BruDude
Sat Jan 24, 2015 6:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my term life policy quote too high?
Replies: 39
Views: 2503

Re: Is my term life policy quote too high?

Don't use State Farm or NWM. Both are captive companies with tough underwriting. Pacific life and banner life will be the two lowest prices you're going to find anywhere.
by BruDude
Sat Jan 24, 2015 5:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my term life policy quote too high?
Replies: 39
Views: 2503

Re: Is my term life policy quote too high?

No way he's going to get Preferred Plus with a family history of cancer. Go to term4sale.com and play around with the website and you can get a ballpark. I'm getting ~$80s/month for you with $1MM, 32 years old with a "preferred" rating. When I change the rating to "Regular Plus"...
by BruDude
Sat Jan 24, 2015 1:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my term life policy quote too high?
Replies: 39
Views: 2503

Re: Is my term life policy quote too high?

No way he's going to get Preferred Plus with a family history of cancer. Go to term4sale.com and play around with the website and you can get a ballpark. I'm getting ~$80s/month for you with $1MM, 32 years old with a "preferred" rating. When I change the rating to "Regular Plus"...
by BruDude
Sat Jan 24, 2015 1:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my term life policy quote too high?
Replies: 39
Views: 2503

Re: Is my term life policy quote too high?

Pacific Life looks ok at Preferred Plus, same with Banner. Pacific = $775 annually, Banner = $780
by BruDude
Sat Jan 24, 2015 1:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is my term life policy quote too high?
Replies: 39
Views: 2503

Re: Terrible ? but...How hard is it to receive life ins payo

Call the agent or insurance company, fill out the claim form, submit a death certificate. Pretty simple.
by BruDude
Fri Jan 23, 2015 3:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Terrible ? but...How hard is it to receive life ins payout?
Replies: 15
Views: 1817

Re: What price are you planning to pay for your next car?

Something like a C7 Corvette Z06, a variation of a Hellcat, Audi RS, or Mustang GT350R. Would expect to stay in the $30-50k range used. Currently have an E92 M3 which is an amazing car and will probably keep it for a while, or at least until the extended warranty is up. I like power.
by BruDude
Tue Jan 20, 2015 4:00 am
 
Forum: Personal Finance (Not Investing)
Topic: What price are you planning to pay for your next car?
Replies: 91
Views: 7033

Re: Recommend good LTC insurance provider

Use an independent broker that offers at least 3-4 of the major companies. There are a ton of factors that determine which company is going to work best for them.
by BruDude
Thu Jan 15, 2015 11:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Recommend good LTC insurance provider
Replies: 1
Views: 270

Re: Disability Insurance

I am talking with Guardian now for a new or additional policy. What's the highest benefits amount will I get if I truly am completely disable? I thought it was $15K per month. Is there a formula to calculate the $10K, $15K or $17K? $17k/month is the max with Guardian for a physician. There's no spe...
by BruDude
Thu Jan 15, 2015 3:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 23
Views: 1352

Re: Disability Insurance

Thanks for the responses. Yeah, I now realize my policy is garbage. My agent (former CFP guy) dropped the ball on this policy. I specifically told him that I wanted a policy that will pay ($15K per month) if I can't perform the one surgical procedure that I specialize in. I guess I can get a differ...
by BruDude
Wed Jan 14, 2015 2:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 23
Views: 1352

Re: Disability Insurance

My neighbor got sick and might have to stop working, he's only 43. So naturally, I reviewed my own policy and actually don't understand it. My individual DI policy says: Total Disability means solely due to Injury or Sickness: 1. During the first 12 months of Your Occupation Period: You are unable ...
by BruDude
Wed Jan 14, 2015 1:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 23
Views: 1352

Re: Term life insurance decision

Since you are looking for protection for a 10 year period, would a decreasing ten year policy be less expensive? You don't need the full 400k for all 10 years. ie. after 5 years, you only need 200k. These don't really exist anymore and IMO are a bad deal because you're paying the same amount of mon...
by BruDude
Tue Jan 06, 2015 1:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term life insurance decision
Replies: 8
Views: 832

Re: Yet another study on why not to buy long term care insur

We took out a policy with Genworth 3 years ago.It has an inflation rider and is identical to my brothers policy.It cost us 300 a month and I can write it off through my business.Right now we are 62 and 64 and hope we never use it.My brother is 69 with Parkinsons and has in home 24 hr care.It has be...
by BruDude
Mon Jan 05, 2015 12:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Yet another study on why not to buy long term care insurance
Replies: 61
Views: 4512

Re: Yet another study on why not to buy long term care insur

We took out a policy with Genworth 3 years ago.It has an inflation rider and is identical to my brothers policy.It cost us 300 a month and I can write it off through my business.Right now we are 62 and 64 and hope we never use it.My brother is 69 with Parkinsons and has in home 24 hr care.It has be...
by BruDude
Sun Jan 04, 2015 11:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Yet another study on why not to buy long term care insurance
Replies: 61
Views: 4512

Re: Yet another study on why not to buy long term care insur

From the linked articles, it appears long-term care insurance does not cover you for very long stays, just a fixed amount for a limited number of years. If so, if you need ten years of care, the LTCI policy won't cover it. Sure it can. You're buying a pool of money, not a set number of years. For e...
by BruDude
Sun Jan 04, 2015 5:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Yet another study on why not to buy long term care insurance
Replies: 61
Views: 4512

Re: Yet another study on why not to buy long term care insur

My maternal grandmother and my father both developed dementia in their last 5 years alive. I have LTCI. ^^^These studies should interview a subset of people that fall into this category and see how the numbers change on what they "should" do and what that subset of people thinks about tha...
by BruDude
Sun Jan 04, 2015 4:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Yet another study on why not to buy long term care insurance
Replies: 61
Views: 4512

Re: Christmas day ACA health insurance stress

About half my clients never received any bill, ID cards, policy, or anything at all really for their 2015 applications. Many that input payment information on the application received bills asking for payment. A couple were terminated for non-payment even though they included payment info on the app...
by BruDude
Fri Jan 02, 2015 6:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Christmas day ACA health insurance stress
Replies: 30
Views: 3257

Re: Boglehead Beer

Found 4 bottles of Firestone Walker 18th anniversary at local store the other day by random chance. Drank one over New Year's, just an incredible beer. Can't wait to see how the others taste over the next few years.
by BruDude
Fri Jan 02, 2015 2:25 pm
 
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 498
Views: 72458

Re: HR Block software deal on Amazon

Thanks! Just bought premium.
by BruDude
Fri Jan 02, 2015 2:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: H&R Block Tax Software - Low Prices at Amazon
Replies: 40
Views: 3011

Re: Life Insurance and former smoker?

12 months is the minimum to be considered a non-smoker
by BruDude
Sun Dec 28, 2014 2:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life Insurance and former smoker?
Replies: 3
Views: 586

Re: ACA insurance Q... for 26 yo child coming off my insuran

for a young, healthy adult like her, is it generally better to get a low premium, high deductible plan (i think?) or a high premium, low deductible plan There isn't really a right answer - it depends on her risk tolerance, how much medical care she thinks she will likely use in the next year, and h...
by BruDude
Wed Dec 17, 2014 2:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: ACA insurance Q... for 26 yo child coming off my insurance
Replies: 8
Views: 1332

Re: Medical Necessity and the Insurance Appeals Process

Usually the insurance company will approve an appeal if they receive a written letter from the physician stating that the recommended treatment is medically necessary. Not true at all. "Medical necessity" is an insurance term, not a medical term. The insurance decides what is "medica...
by BruDude
Tue Dec 16, 2014 2:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Medical Necessity and the Insurance Appeals Process
Replies: 15
Views: 1173

Re: Medical Necessity and the Insurance Appeals Process

Usually the insurance company will approve an appeal if they receive a written letter from the physician stating that the recommended treatment is medically necessary.
by BruDude
Sun Dec 14, 2014 6:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical Necessity and the Insurance Appeals Process
Replies: 15
Views: 1173

Re: Advice Long term disability insurance and mental health

Do you depend on your income to support yourself? If so, then yes, you need DI. You will need to get a specific diagnosis and recommendation for treatment before any insurance company will consider offering coverage. They will probably want to see at least 6 months of treatment and follow-up if the...
by BruDude
Sat Dec 13, 2014 8:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice Long term disability insurance and mental health
Replies: 8
Views: 853

Re: Advice Long term disability insurance and mental health

Do you depend on your income to support yourself? If so, then yes, you need DI. You will need to get a specific diagnosis and recommendation for treatment before any insurance company will consider offering coverage. They will probably want to see at least 6 months of treatment and follow-up if ther...
by BruDude
Thu Dec 11, 2014 11:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice Long term disability insurance and mental health
Replies: 8
Views: 853

Re: Affordable Care Act income levels for subsidy?

Play around with www.healthsherpa.com - makes it pretty easy to see what the subsidy would be in your zip code based on your income and family size.
by BruDude
Wed Dec 10, 2014 3:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Affordable Care Act income levels for subsidy?
Replies: 6
Views: 653

Re: Which HSA eligible Health Ins plan to select

The income cutoff for a family of 4 is $95,400, so if your income is only slightly over that, maybe you can take another deduction or make a retirement contribution to get it under the limit. Out of those two policies, I would do the Silver $7300 plan for an extra $100/month. Really just depends on ...
by BruDude
Wed Dec 10, 2014 2:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Which HSA eligible Health Ins plan to select
Replies: 1
Views: 203

Re: HDHP: In-network vs self-pay

$250 is an incredibly high price for an insurance negotiated price of an office visit. Are you sure that's the negotiated price or the "regular" price? Keep in mind that if you don't use a network doctor, the amount paid will not get credited towards your deductible either.
by BruDude
Tue Dec 09, 2014 2:58 am
 
Forum: Personal Finance (Not Investing)
Topic: HDHP: In-network vs self-pay
Replies: 6
Views: 522
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