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Re: Do the mega wealthy need life insurance?

Using Life Insurance for part of your bond holdings can look attractive with whole life policies currently because the portfolio return is a combination of bonds bought over the past 30 years. Many of these bonds had much higher yields so the current returns reflect those higher returns. The problem...
by bluemarlin08
Wed Aug 20, 2014 1:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do the mega wealthy need life insurance?
Replies: 24
Views: 1447

Re: Do the mega wealthy need life insurance?

The rates are guaranteed to age 105.
by bluemarlin08
Wed Aug 20, 2014 11:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Do the mega wealthy need life insurance?
Replies: 24
Views: 1447

Re: Do the mega wealthy need life insurance?

For a standard risk, not standard plus or preferred or preferred plus, rates would be closer to 4 million per year per year on a NLUL policy. I just wrote a 4 million policy on a 70 year old and he made preferred plus rating.
by bluemarlin08
Wed Aug 20, 2014 11:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Do the mega wealthy need life insurance?
Replies: 24
Views: 1447

Re: Do the mega wealthy need life insurance?

100,000,000 of permanent insurance for someone 70 and in pretty good health would be around 3 million per year, maybe less if you are insuring husband and wife with a second to die policy.
by bluemarlin08
Wed Aug 20, 2014 10:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Do the mega wealthy need life insurance?
Replies: 24
Views: 1447

Re: Do the mega wealthy need life insurance?

Many very wealthy folks have their wealth tied to large ownership in a business or real estate. At death taxes are due in nine months and it might not be a good time to sell these assets. From what I have seen this is why life insurance is purchased is to avoid on a fire sale on these assets.
by bluemarlin08
Wed Aug 20, 2014 7:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Do the mega wealthy need life insurance?
Replies: 24
Views: 1447

Re: gifting money, and smoking

Pneumonia should be the lesson they learn to quit. Pneumonia nearly killed me last year abd the doctors told me if I was a smoker I probably wouldn't have made it. My wife smoked for 30 years and decided to quit when my daughter went to Girl Scout camp. When she returned we had remodeled her room an...
by bluemarlin08
Tue Aug 19, 2014 12:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: gifting money, and smoking
Replies: 25
Views: 1351

Re: Cost of Medical Records

My experience has been you get the first copy for free. I did have to pay almost 300 for MIL records for a lawsuit.
by bluemarlin08
Sun Aug 17, 2014 1:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cost of Medical Records
Replies: 16
Views: 1063

Re: Are hospitals allowed to do this? [Costs quoted vs. actu

In the past I like and have negotiated with a hospital regarding a certain procedure like a MRI. Had one offer me the Medicare rate that was lower than the insurance rate. I saved several hundred dollars. The hospital was wrong to have done this but most will. If you do this pay before the procedure.
by bluemarlin08
Sat Aug 16, 2014 7:49 pm
 
Forum: Personal Consumer Issues
Topic: Are hospitals allowed to do this? [Costs quoted vs. actual]
Replies: 85
Views: 5706

Re: Deferred Income Annuity

Scepticalobserver makes an excellent point. So many folks believe those advertized "guaranteed"rates are credited rates to their account values,
by bluemarlin08
Fri Aug 15, 2014 7:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Deferred Income Annuity
Replies: 9
Views: 820

Re: Purchasing long term care insurance for relative

I wouldn't recommend counting on Mr. Rich Guy, good chance he won't even be around. Pay the the premium.
by bluemarlin08
Tue Aug 12, 2014 6:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Purchasing long term care insurance for relative
Replies: 6
Views: 355

Re: Too Good to be True? Universal Life

Request an illustration showing a deposit of 100,000 and what the future guaranteed benefits would be.
by bluemarlin08
Tue Aug 12, 2014 6:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Too Good to be True? Universal Life
Replies: 11
Views: 1068

Re: How important is my insurance agent?

I was with State Farm for years until I decided to shop around, I saved quite a bit for the same coverage. I now reshop coverage every couple of years or when I get a rate increase.
by bluemarlin08
Mon Aug 11, 2014 4:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: How important is my insurance agent?
Replies: 37
Views: 2074

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

I've seen situations where the corporation would make a decision at year end whether to reimburse premiums paid personally after tax. I no claim they would reimburse
by bluemarlin08
Sun Aug 10, 2014 6:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Physician Long term Disability- Premium pre or post tax
Replies: 12
Views: 736

Re: Your Favorite charity organization...? please

Mercy Angels Ministry is one we highly support as well as certain missionaries we know personally in Africa and Jamaica.
by bluemarlin08
Fri Aug 08, 2014 7:38 pm
 
Forum: Personal Consumer Issues
Topic: Your Favorite charity organization...? please
Replies: 91
Views: 3933

Re: Term Life Insurance

The rates go up in a non linear fashion the older one gets.
by bluemarlin08
Wed Aug 06, 2014 4:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance
Replies: 12
Views: 981

Re: Term Life Insurance

A good agent is indispensable in situations like this.
by bluemarlin08
Mon Aug 04, 2014 9:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance
Replies: 12
Views: 981

Re: How to admit/should I admit alcohol problem to employer

I learned that I never had a drink before 5 and never had one after I ate dinner. So now, I eat earlier problem solved. Use to wait till after 10 to eat at times.
by bluemarlin08
Mon Aug 04, 2014 5:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to admit/should I admit alcohol problem to employer
Replies: 111
Views: 13206

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 bluemarlin08
Mon Aug 04, 2014 1:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance
Replies: 12
Views: 981

Re: Should I become a CFP?

I was a financial planner for 10 years in the 80's. I didn't like the idea of only offering what my firm offered. I learned the business but eventually dropped the investments and concentrated on managing risk with insurance products.
by bluemarlin08
Fri Aug 01, 2014 4:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I become a CFP?
Replies: 27
Views: 3520

Re: What Book Are You Currently Reading? Part V

Calico Joe John Grisham
by bluemarlin08
Thu Jul 31, 2014 6:07 pm
 
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part V
Replies: 3191
Views: 1079781

Re: Parents bought whole life — what next?

Noticed that the insurer is Lincoln Benefit. They were recently sold by Allstate to Resolution Life and will not issuing new business. Resolution Life is under no obligation to do better than the guaranteed obligations in the contract. If the policy doesn't have a no lapse rider premiums could incre...
by bluemarlin08
Thu Jul 31, 2014 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Parents bought universal life — what next?
Replies: 11
Views: 1620

Re: Parents bought whole life — what next?

Heart attack doesn't preclude getting a fairly priced term, but I would look to see if you could reduce the death benefit to 25,000 or so. Find an independent agent that can help you.
by bluemarlin08
Thu Jul 31, 2014 1:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Parents bought universal life — what next?
Replies: 11
Views: 1620

Re: Difference between leasing a car and renting a home

I use to lease in the 80's and remember there were two kinds of leases, open and closed. Closed were mileage limits and you turned the car in after the lease period. Open didn't have mileage limits and you were responsible for the "pay off' value when you turned them in. I always drove sports c...
by bluemarlin08
Tue Jul 29, 2014 8:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Difference between leasing a car and renting a home
Replies: 7
Views: 1010

Re: A question on long term care insurance

Many clients on claim and never a complaint.
by bluemarlin08
Sat Jul 26, 2014 1:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: A question on long term care insurance
Replies: 18
Views: 966

Re: Best Coffee Maker? What do you have?

Melitta people


Works the best for me, second is frenchpress
by bluemarlin08
Sat Jul 26, 2014 1:05 pm
 
Forum: Personal Consumer Issues
Topic: Best Coffee Maker? What do you have?
Replies: 75
Views: 5855

Re: A question on long term care insurance

Are you a Genworth customer? If so, do you feel that they paid you adequately?



I am an agent that represents Genworth.
by bluemarlin08
Sat Jul 26, 2014 12:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: A question on long term care insurance
Replies: 18
Views: 966

Re: A question on long term care insurance

I would like to know how much Genworth *really* pays for, say, an extended stay in a nursing home


They will pay up to the benefit guaranteed by the policy.
by bluemarlin08
Sat Jul 26, 2014 11:53 am
 
Forum: Personal Finance (Not Investing)
Topic: A question on long term care insurance
Replies: 18
Views: 966

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

Cancel the policy, the most you lost was premiums paid, consider it a lesson. You can probably get all your premiums back with a letter to the company explaining you didn't really understand the policy. If you lose the agent as a friend, they were never a friend. Many companies will do a total refun...
by bluemarlin08
Fri Jul 25, 2014 7:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: advise for 24 y/o who just bought Index Universal Life
Replies: 15
Views: 1152

Re: Lawyer Up? Advice Needed

The really good lawyers won't take this case on contingency, less qualified will require retainer to begin and more and more. Unless you can prove damages you will even lose the retainer. I would continue to be tested.
by bluemarlin08
Thu Jul 24, 2014 7:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Obtaining Legal Counsel?
Replies: 51
Views: 3395

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

One solution is determine the potential tax and increase your policy that amount. Although that additional coverage will be taxed. The cost of extra term coverage is much cheaper than doing the trust.
by bluemarlin08
Thu Jul 24, 2014 5:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help! Term Life through an Irrevocable Life Insurance Trust
Replies: 11
Views: 731

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

If a whole life policy is from a dividend paying company, and the dividends are used to buy paid up additions or left to accumulate your death benefit certainly can increase.
by bluemarlin08
Thu Jul 24, 2014 7:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Dad had a whole life policy but it sounds like term life?!
Replies: 25
Views: 1713

Re: Dumb 3rd grade math question about beach house rental

We just returned from a trip with another family. Other family, husband, wife and 7 year old. Split costs in half, we arrived a couple days late due to emergency business issue. Let them have the master, vacations are for fun. Decide everything up front, everyone will feel more comfortable.
by bluemarlin08
Wed Jul 23, 2014 6:19 pm
 
Forum: Personal Consumer Issues
Topic: Dumb 3rd grade math question about beach house rental
Replies: 61
Views: 4982

Re: Whole Life Conundrum

Ask for an in force illustration showing projected dividends paying the premium and see the projected increased values.
by bluemarlin08
Thu Jul 17, 2014 7:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Whole Life Conundrum
Replies: 22
Views: 1662

Re: Snake!

Sorry, I should have added that disclaimer. The language was totally unnecessary, but the story was very unique.
by bluemarlin08
Thu Jul 17, 2014 6:28 pm
 
Forum: Personal Consumer Issues
Topic: Snake!
Replies: 51
Views: 4299

Re: Snake!

This video shows the most dangerous island in the world.
by bluemarlin08
Thu Jul 17, 2014 5:28 pm
 
Forum: Personal Consumer Issues
Topic: Snake!
Replies: 51
Views: 4299

Blue Cross of Tennessee rate inrase

BC of TN has requested a 19% rate increase for 2015.
by bluemarlin08
Thu Jul 17, 2014 4:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Blue Cross of Tennessee rate inrase
Replies: 2
Views: 373

Re: Whole Life Conundrum

Not many good options other than maybe making a 1035 transfer of the cash value to an annuity and let that accumulate tax free to your cost basis. I wouldn't consider cutting the policy in half, apply for term for you both then drop the coverage.
by bluemarlin08
Wed Jul 16, 2014 3:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Whole Life Conundrum
Replies: 22
Views: 1662

Re: I'm cosigner .. Friend thinking of bankruptcy .. Pls hel

You won't become liable until the lender comes to you, lots can happen before that happens. Once was in a similar situation, the other party renegotiated the deal during his bankruptcy and he ended up paying it off. Never hit my records.
by bluemarlin08
Mon Jul 14, 2014 8:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: I'm cosigner .. Friend thinking of bankruptcy .. Pls help
Replies: 64
Views: 7749

Re: Affordable health insurance

Most that have been on this site know, as I have also contributed to the last Boglehead book. So, do you think because one is in the insurance industry they can't give objective advice, no?
by bluemarlin08
Sat Jul 12, 2014 7:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Affordable health insurance
Replies: 33
Views: 2998

Re: Affordable health insurance

I think you should disclose in these threads that you are a health insurance broker , no?


Why? Should everyone disclose their occupation, no?
by bluemarlin08
Sat Jul 12, 2014 7:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Affordable health insurance
Replies: 33
Views: 2998

Re: Smokers [for cooking]

Just pulled off some baby backs and they are better than any rib I ever had anywhere.
by bluemarlin08
Thu Jul 10, 2014 9:28 pm
 
Forum: Personal Consumer Issues
Topic: Smokers [for cooking]
Replies: 47
Views: 4604

Re: Future plan with recent lung cancer diagnosis

So sorry to hear this. I went through something similar in 2003, things turned out good for me but I researched things to death and had many second opinions before deciding my course. Took the entire family on a long vacation after treatment.
by bluemarlin08
Thu Jul 10, 2014 3:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Future plan with recent lung cancer diagnosis
Replies: 25
Views: 3866

Re: Affordable health insurance

I have a very good friend in Atlanta that is an independent health agent if you would like his name let me know.
by bluemarlin08
Thu Jul 10, 2014 2:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Affordable health insurance
Replies: 33
Views: 2998

Assurant self funded small group plan

Just curious if any of you small business owners use the Assurant partial self funded group health plan.
by bluemarlin08
Thu Jul 10, 2014 11:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Assurant self funded small group plan
Replies: 0
Views: 248

Re: Affordable health insurance

If the employer rates increase, COBRA participants rates increase as well. Perhaps one's employer rates didn't increase when they became ACA compliant, but most I have seen had substantial increases.
by bluemarlin08
Thu Jul 10, 2014 9:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Affordable health insurance
Replies: 33
Views: 2998

Re: Affordable health insurance

Rates for COBRA will for sure increase when your employer must meet ACA requirements.
by bluemarlin08
Wed Jul 09, 2014 9:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Affordable health insurance
Replies: 33
Views: 2998

Re: Affordable health insurance

Go to ehealth.com and plug your info in and see what is available. You want to focus on a company like United Health Care (Golden Rule) due to their nationwide network versus BC. The problem, however, is that most companies will increase premiums at renewal. So compare these current plans with your ...
by bluemarlin08
Wed Jul 09, 2014 7:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Affordable health insurance
Replies: 33
Views: 2998
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