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Question for OP - When did your dad transfer ownership to your name? Before the loans were taken out, or after? If it was after, did you sign off on any paperwork for it since you were the owner? FWIW, I think the chances of you finding an agent that knows exactly how to dissect this case and do it ...

Some companies don't refund prorated premiums when you pay annually. If you want the correct answer just call NWM yourself. What companies? I have never heard of that. Maybe it is a state thing? I thought that in most (all?) states unearned premiums had to be returned. Off the top of my head I'm no...

What do you mean by $ 1,000/year FIO? That I can only increase my benefit by $ 1,000/year? Also, I still fail to understand the benefit of having a catastrophic insurance on top of normal DI; Can you explain? Correct, if you are over age 40. Under age 40 the entire benefit can be exercised in any o...

Some companies don't refund prorated premiums when you pay annually. If you want the correct answer just call NWM yourself.

Interesting! I just received a quote for Metlife new income guard, with a brochure with detailed information of the coverage and it seems to provide non-canceleable guaranteed renewable policy, 3% compound and unlimited residual recovery for the following amount. BENEFIT PREMIUM $3,000 $107.88 $4,5...

Interesting! I just received a quote for Metlife new income guard, with a brochure with detailed information of the coverage and it seems to provide non-canceleable guaranteed renewable policy, 3% compound and unlimited residual recovery for the following amount. BENEFIT PREMIUM $3,000 $107.88 $4,5...

My Metlife quote is coded 6M and they say that is why it is cheaper. Thanks for the hint on the recovery benefit rider. I will inquire about it. You are correct, just noticed my underwriting guide is out of date and had to download the new one. MetLife changed the occupation class structure and add...

Pediatricians are a 5M occ class with Guardian which is the same comparative level as the other carriers so the rates should be pretty similar. Oncologists are 4M with Guardian and 5M/5S/5P with Principal/Standard (assuming no surgical duties), hence the price difference if that's your occupation. M...

You could try a loan rescue policy, but it can be complicated, won't be cheap, and depends on your current health since you would be buying a new policy. Don't know if it would work with such a huge loan balance. i dont get why that would help. like you mentioned it would be a new policy and thus a...

You could try a loan rescue policy, but it can be complicated, won't be cheap, and depends on your current health since you would be buying a new policy. Don't know if it would work with such a huge loan balance.

MetLife has a suspension benefit for unemployment on their new policy: "Suspension During Unemployment If your policy has been in force for at least one year, you may suspend the policy for a maximum of 12 months if you: 1) become unemployed; and 2) receive 8 weeks of governmental unemployment ...

letsgobobby wrote:what do you think about the own occupation and mental health clauses?

Better to have own-occ and unlimited mental/nervous than not have it. A modified own-occ definition isn't going to save that much money in most cases.

You sound like you are a career Guardian agent. I believe that NML, MassMutual, MetLife,Principal, Standard, and Union Central will all go beyond 10%. I know that MassMutual will go up to 35% off and will give underwriting concessions. Where I live, and it is a place with lots of hospitals, MassMut...

You sound like you are a career Guardian agent. I believe that NML, MassMutual, MetLife,Principal, Standard, and Union Central will all go beyond 10%. I know that MassMutual will go up to 35% off and will give underwriting concessions. Where I live, and it is a place with lots of hospitals, MassMut...

I want to replace the current individual policy I have with a larger one, so that when/if I leave my employer I have something to fall back on. In other words I would drop the current individual policy once I have a new one. These AMA sales pitches I get imply I can get substantially more coverage ...

Unless you can opt out of the group policy (which is unlikely if 100% employer-paid), you probably won't be able to add any other coverage, possibly a limited amount if you plan on dropping the existing individual policy. The back problems are going to result in a spine exclusion and depending on th...

The savings are less for men, but I have never seen a situation when the discount resulted in no savings. Also, most of what I have seen in the resident market has been at a 25% sex neutral rating resulting in about a 40% savings for females and 15% for men. I just ran a sample quote with Guardian ...

Wow, as a resident I had not even thought about disability insurance. Right now according to my hospital's website I have "at no cost to employee while in training 60% of monthly basic earnings, to a maximum of $3,500/month." I make like 50k a year, so pretax like 4.1k a month, meaning 60...

The savings are less for men, but I have never seen a situation when the discount resulted in no savings. Also, most of what I have seen in the resident market has been at a 25% sex neutral rating resulting in about a 40% savings for females and 15% for men. I just ran a sample quote with Guardian ...

Definitely get it. It should be affordable. I pay $51 a month to Guardian for a $4k monthly benefit after discounts. I am a radiology resident, class 4M. That sounds really low even for a graded premium. No COLA/FIO/residual? Years ago, I bought a long-term disability coverage. A few years ago, I a...

I would not suggest buying a current-assumption UL policy (which is what TIAA-CREF is offering here) unless you know exactly what you are doing. If you plan on having children, you should probably just buy a policy with a larger death benefit now instead of waiting a few years. The longer you wait, ...

newdoc wrote:Fair enough. But should I get it right this second or can I afford to wait a year?

I would always recommend buying DI sooner rather than later if you're in good health. I bought my own DI policy at age 24.

I wish you and and your wife good luck in all this. I see what you're saying and it's perfectly logical. But bringing up highly unlikely catastrophic events is what the insurance sellers have done with me as well: Of course it's possible that something bad might happen. But statistically, it's almo...

I see, but the thing most likely to happen to my health status at this point is: nothing. Even if I somehow did wind up claiming disability, perhaps for a broken bone or a bout of depression, I would most likely be out of work for a couple of months at best. In any of these circumstances, I'd be ab...

So, I think I'm going to wait just a couple of years to get the insurance. The coverage that I can afford right now is just not much more than what I could depend on my family for in the unfortunate event of sustaining a disability. And as a young, fit male in excellent health, I'm comfortable, for...

Thanks for the replies so far. Maybe it wasn't clear from my first post, but because I am a teacher vested in the retirement system, I would qualify for a disability benefit. Currently that is $900/month. I would not be eligible for Social Security disability payments. If I became disabled, I would...

The earlier you buy DI, the cheaper it will be for life since the premiums are locked in at the age it is purchased. Future Increase Option exercises have premiums based on the year in which they are exercised. Even as an early resident, you can still get up to $4-5,000/mo in coverage regardless of ...

Are you a public school teacher? If so you will have to deal with the retirement system's DI benefits offsetting the amount you're eligible for on individual coverage. I'm not sure how you have Standard and Guardian offering a $750-1050/mo benefit and MetLife and NWM offering $2500-2700/mo, that's a...

Ameritas has a good policy, definitely a top-tier DI company. Are you able to get a discount through them that is not available through other carriers? Usually their pricing is in the same ballpark as the other top-tier DI companies when comparing benefits apples-to-apples.

I was advised by 3 different insurance agents to go with Plan F, and I did. I went with BC/BS of Georgia (which is really Anthem out of Los Angeles) because of their enormous network. Just about any doctor that you would want to see is in their network because they have 70% of the market in Georgia...

Coverage amount is reasonable, $2M-3M may be better if you want closer to full income replacement. I'd also suggest looking into getting an individual disability insurance policy.

--does this help to understand my true occupation coverage any better?? The own-occupation coverage is for the full benefit period with Guardian. I would disagree with BruDude insofar as policies with subjective triggers are involved. Policies with objective triggers (life insurance is the best exa...

I suppose it's fair to say that the wrinkle in any disability policy is "who decides?" A surgeon who loses both hands, and his or her eyesight, might well be employable as a physician, but would reasonably think the policy was triggered. Should the insurance company disagree, who decides?...

Looks good, most people take the 3% COLA instead of the 6% max option though. IMO you would be better off with an age-67 benefit and 3% COLA than age-65 and 6% COLA.

1) Somewhere in the fine print of your contract there may be an appeals procedure. I think one of the early steps that should be taken is for your brother to call Aetna and say, simply that he thinks the procedure should have been covered and ask whether there's an appeals procedure and how to go a...

If his out of network deductible is $2500, I would expect him to have to pay that amount and have Aetna cover the remainder. I would wait until you get the bills from everyone. If Aetna does not cover it, you'll have to contact the anesthesiologist and surgicenter separately and negotiate. It's a l...

$10k for a colonoscopy is insane. A lot of doctors offices will take your insurance card and file the claim, but that doesn't mean they participate with the insurance company's network. Now it's up to him to negotiate a price with the doctor's office.

I've gotten the names of three agents from term4sale and will hopefully find a good agent from their list. I've heard very positive reviews about them on this site. Thanks again for everyone's thoughts. I would recommend directly calling the company. Say Prudential shows up first after your term4sa...

@bsteiner - Could the trust assume ownership of an existing policy or does it need to be a completely new policy? Either way. Note that if you make a gift of an existing policy and die within 3 years from the transfer, the proceeds are included in your estate for estate tax purposes. That's so some...

Your agent is totally wrong. Designating the contingent as a relative or friend is a bad idea since they have no obligation to give a dime to your kids. If you don't want to make them a beneficiary, set up a revocable trust that designates the beneficiaries and when the money is paid out (ex: 20% at...

I didn't read the comments on that LTC Forbes article, but I did read the article which is full of misinformation and half truths.

How dramatically are rates and underwriting standards shifting over the next month? For example if a 60 year old single male in generally good health were to apply within the week verses sometime in May what processes would you expect to change/how much would premiums change? Are there any good (ne...

Never heard of Centrian, but according to google it looks like they are the Connecticut subsidiary of SBLI. SBLI is a good company and they almost always have the best rates for younger/healthier people. I'd still suggest buying through an independent agent in case the rates come back higher than ex...

Advice - buy in the next two weeks. Underwriting is changing in April in a bad way for purchasers for both Genworth and John Hancock, rates going up and underwriting standards getting tougher. Other companies are soon to follow suit. Use an independent agent that offers at least 3-4 different compa...

Having a life insurance policy terminated for failure to pay the premium will not have any affect on your credit score. Just call the company and tell them you want to cancel if the new policy is already in place.

Advice - buy in the next two weeks. Underwriting is changing in April in a bad way for purchasers for both Genworth and John Hancock, rates going up and underwriting standards getting tougher. Other companies are soon to follow suit. Use an independent agent that offers at least 3-4 different compan...

Thanks for the replies everyone! It sounds like it would be best to surrender these policies (or maybe keep my first policy) after getting term. Sounds like that money would be better going to maxing out our Roths or adding more to our 401k. I have current illustrations for these policies on the wa...

What are the current dividends on each policy?

Additional sources for buying health insurance: http://www.healthcare.gov/ http://www.gohealthinsurance.com/ The first one is from Federal Government. For the needy, New Jersey offers subsidized health plans. Disclosure: I am a Certified Volunteer Medicare Counselor from NJ The second link you post...

CNA was probably the worst-run insurance company ever, so this is not surprising. There are a lot of articles like this about getting CNA LTCi claims paid. From the article it sounds like this is not a tax-qualified policy where benefits are triggered when two of the six ADL's cannot be performed, o...