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Re: Indexed Universal Life Insurance - Again ...

I would never recommend the product to my clients the way it is currently structured. I attended a meeting recently for agents by a large supplier of this product, same old same old.
by bluemarlin08
Thu Oct 30, 2014 6:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Indexed Universal Life Insurance - Again ...
Replies: 58
Views: 4904

Re: fleeced by an adviser, is there a recourse?

Unless you can prove he committed fraud, you would be much better of trying to forget this matter. I once had a situation I felt I was mislead, talked with an attorney, he said it was a slam dunk case, paid him a 3000 retainer, after one year of excuses he finally said we had no case. I did get some...
by bluemarlin08
Wed Oct 29, 2014 4:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: fleeced by an adviser, is there a recourse?
Replies: 104
Views: 8033

Re: Life Insurance

Career agents with NYL, Guardian, Northwestern etc, must focus on whole life.
by bluemarlin08
Mon Oct 27, 2014 10:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life Insurance
Replies: 15
Views: 1005

Re: Life Insurance

NWML is rarely competitive with their term products unless you are a smoker.
by bluemarlin08
Mon Oct 27, 2014 9:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life Insurance
Replies: 15
Views: 1005

Re: Traditional Medicare vs Medicare Advantage

The network limitations drove me to regular Medicare. I weigh spending almost $300 per month for flexibility versus 0 for some Advantage plans. Wife has issues we may need to go to Mayo for help.
by bluemarlin08
Mon Oct 27, 2014 7:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Traditional Medicare vs Medicare Advantage
Replies: 30
Views: 1776

Re: Resident- Disability Insurance

Find a policy that will provide an own occupation to age 65 or 67. Buy as much as you can afford.
by bluemarlin08
Mon Oct 27, 2014 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Resident- Disability Insurance
Replies: 8
Views: 854

Re: How to do taxes for sale of deceased father's stocks?

It might be an ESOP or just a employee option to buy stock. My wife worked for a company that had a stock purchase option that she could buy the stock at the lowest price in the prior year.
by bluemarlin08
Sun Oct 26, 2014 8:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to do taxes for sale of deceased father's stocks?
Replies: 18
Views: 1522

Re: How to do taxes for sale of deceased father's stocks?

I would think the ESOP required a beneficiary designation and would pass according to the designation and avoid probate. In addition, wouldn't distributions be treated taxwise similar to other retirement plans?
by bluemarlin08
Sun Oct 26, 2014 6:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to do taxes for sale of deceased father's stocks?
Replies: 18
Views: 1522

Re: Part B Excess Charge

Why did you rule out plan g?
by bluemarlin08
Fri Oct 24, 2014 9:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Part B Excess Charge
Replies: 8
Views: 808

Re: Estate planning - big firm or solo practitioner?

I have been referring clients to estate attorneys for 34 years and they can be small medium or large firms. Ask other in similar situations, interview them. Some personalities clique better than others. Ask your CPA, they usually have good instincts.
by bluemarlin08
Fri Oct 24, 2014 9:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate planning - big firm or solo practitioner?
Replies: 17
Views: 1384

Re: Elder Law attorney (Trusts, Medicaid, nursing homes)

I suggest you consider emphatically telling your mom you don't need the money and she should keep all options open on how she uses her assets. Most time it is the kids pushing to have this done. She could afford Long Term Care Insurance.
by bluemarlin08
Fri Oct 24, 2014 8:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Elder Law attorney (Trusts, Medicaid, nursing homes)
Replies: 30
Views: 1958

Re: Elder Law attorney (Trusts, Medicaid, nursing homes)

What if the nursing home you decide on does not have a medicaid bed available? Although most nursing home takes medicaid patients if beds availible. Had an aunt that had to got o a home many miles away because it was the only institute available? Is she in agreement that she wants to impoverish hers...
by bluemarlin08
Fri Oct 24, 2014 4:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Elder Law attorney (Trusts, Medicaid, nursing homes)
Replies: 30
Views: 1958

Re: Older Women and Challenges of Wealth

I think the recommendation to switch some assets to an income stream is an excellent recommendation. Immediate annuities are all competitive priced and very low fees.
by bluemarlin08
Thu Oct 23, 2014 9:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Older Women and Challenges of Wealth
Replies: 3
Views: 897

Re: Long Term Care Insurance - Should I Keep?

A lot depends on the company underwriting the policy. If it is a Conseco/Penn Treaty or company no longer writing new business I might get out. IMO, a company like John Hancock and Genworth, and the premiums doesn't impact your standard of living, I would hold on, although you will have rate increas...
by bluemarlin08
Thu Oct 23, 2014 5:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance - Should I Keep?
Replies: 11
Views: 929

Re: Health Insurance - Retiree questions

EHealth does not show all plans. Hard to find, but try to find an independent agent that knows the market.
by bluemarlin08
Sun Oct 12, 2014 10:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Health Insurance - Retiree questions
Replies: 12
Views: 1544

Re: Aca insurance/medicaid

If you haven't considered the lack of quality doctors that take Medicaid, you should. IF, you find a doctor, the demand from other Medicaid patients are tremendous. Been there and done that and it ain't pretty.
by bluemarlin08
Sun Oct 12, 2014 11:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Aca insurance/medicaid
Replies: 13
Views: 1214

Re: Survivor Benefits When Buying Life Insurance

Do each of you have personal disability insurance?
by bluemarlin08
Sat Oct 11, 2014 10:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Survivor Benefits When Buying Life Insurance
Replies: 7
Views: 269

Re: Drop My $1m Life Insurance?

Unless you have someone that will be impacted negatively financially when you die, I would consider dropping the coverage. I saw your age is 60, I would drop and invest.
by bluemarlin08
Sat Oct 04, 2014 6:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Drop My $1m Life Insurance?
Replies: 13
Views: 1759

Re: Do we need Long Term Disability?

What is the name of the company Zander quoted, what is the benefit, what is the elimination period, how long is the benefit, what options are covered, does it cover mental and nervous disorders, what is the definition of total and partial disability, are rates guaranteed to never change? I would fin...
by bluemarlin08
Fri Oct 03, 2014 5:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do we need Long Term Disability?
Replies: 9
Views: 549

Re: Assistance with Medicare costs for lowish income seniors

My wife and I are own some expensive medications and are choosing to go on medicare part 1,b,c, and d. Spent lots of time comparing costs for part d and decided on the overall plann and going to buy a 90 day supply, costs drop dramatically. We looked at medicare advantage and didn't like the narrow ...
by bluemarlin08
Wed Oct 01, 2014 8:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Assistance with Medicare costs for lowish income seniors
Replies: 13
Views: 1069

Re: See both financial advisor and elder law lawyer for Mom?

I can't imagine any sane person that would choose to go on Medicaid. Check with her current doctors and see which ones will accept Medicaid. I've seen it first hand and her options are limited, just read an article yesterday that showed how Medicaid patients were having to wait months for appointmen...
by bluemarlin08
Mon Sep 29, 2014 12:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: See both financial advisor and elder law lawyer for Mom?
Replies: 45
Views: 2450

Re: See both financial advisor and elder law lawyer for Mom?

Why does she want to voluntarily choose to go on Medicaid? Her choices for doctors under Medicaid are very limited and often with doctors that are undesirable.
by bluemarlin08
Mon Sep 29, 2014 9:42 am
 
Forum: Personal Finance (Not Investing)
Topic: See both financial advisor and elder law lawyer for Mom?
Replies: 45
Views: 2450

Re: Help with Disability Insurance

Are you usin independent disability specialist to help you? If not you should, also you don't have any quote from Guardian, one of the top disability carriers in the world. Your agent should explain the advantages and disadvantages of each policy.
by bluemarlin08
Sun Sep 28, 2014 5:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with Disability Insurance
Replies: 6
Views: 567

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

One of the big players in LTCi is putting more emphasis on their life/LTVI policies. It's very hard to predict lapse rates because there just are few policyholders just aren't lapsing. Couple that with low yields on reserves and rates have no where to go but up. I only sell LTC to people that contac...
by bluemarlin08
Fri Sep 26, 2014 6:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 9203

Re: Fed: Do I need long term disability insurance?

I would consider buying a private disability policy with a lifetime own occupation definition. There are many reasons for this that have been discusssed many times on this forum. Find an independent disability agent to explain your options.
by bluemarlin08
Thu Sep 25, 2014 4:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Fed: Do I need long term disability insurance?
Replies: 9
Views: 542

Re: Adj Complife (whole life ins) advice

Don't make another mistake by buying term from NWM unless you are a smoker and they do have the best rates for most ages. Otherwise, find an independent agent that can get you the rates based on your circumstances.
by bluemarlin08
Tue Sep 23, 2014 3:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Adj Complife (whole life ins) advice
Replies: 10
Views: 575

Re: Adj Complife (whole life ins) advice

I believe this policy is a blend of term and whole life. The objective is to use the dividends to buy paid up additions and to reduce the term coverage. The problems are when dividends don't perform as projected. I would ask for an additional illustration lowering the dividend crediting rate by 100 ...
by bluemarlin08
Wed Sep 17, 2014 5:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Adj Complife (whole life ins) advice
Replies: 10
Views: 575

Re: Dave Ramsey: The Legacy Journey

One thing you can bet on, his sponsors paid Dave handsomely to sponsor the event.
by bluemarlin08
Tue Sep 16, 2014 11:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey: The Legacy Journey
Replies: 41
Views: 5531

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

The only reason to ever convert is if you had an adverse health condition. In reality, fe healthy people keep their 30 year policy for 30 years. Who kows if Pru will even be offering conversions to policies currently available.
by bluemarlin08
Fri Aug 29, 2014 12:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pay more for term you can convert? Prudential vs. Banner
Replies: 4
Views: 525

Re: My husband's " WILL", $ left for me to live on....

Who owns and is beneficiary of policy? How much are the premiums? Is it term?
by bluemarlin08
Thu Aug 28, 2014 5:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: My husband's " WILL", $ left for me to live on....
Replies: 258
Views: 17909

Re: How to find a lawyer for estate planning?

Send a PM to bsteiner on this site, I am confidant he could refer a competent lawyer
by bluemarlin08
Wed Aug 27, 2014 4:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to find a lawyer for estate planning?
Replies: 16
Views: 819

Re: Life insurance with Long term care rider

It is a freebie, the company priced as such.
by bluemarlin08
Wed Aug 27, 2014 2:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with Long term care rider
Replies: 34
Views: 2234

Re: Term to Perm Insurance

It really depends on the policy you can convert to and if your health is good, are their more competitive products available
by bluemarlin08
Wed Aug 27, 2014 10:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Term to Perm Insurance
Replies: 4
Views: 244

Re: Life insurance with Long term care rider

Personal experience shows you have a good chance of living past 85. If you are comfortable with your plan it's all good.
by bluemarlin08
Tue Aug 26, 2014 7:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with Long term care rider
Replies: 34
Views: 2234

Re: Life insurance with Long term care rider

So with the term policy that expires in 20 years, what is the long term care plans.
by bluemarlin08
Tue Aug 26, 2014 6:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with Long term care rider
Replies: 34
Views: 2234

Re: Life insurance with Long term care rider

If you have term, how long is the premium guaranteed?
by bluemarlin08
Tue Aug 26, 2014 12:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with Long term care rider
Replies: 34
Views: 2234

Re: Life insurance with Long term care rider

I am not selling these policies yet, but the more I review I sorta like them. However, to make them harder to understand they tie crediting rates to index returns, similar to Equity Index Annuities. These policies have the ability to use better performing illustrations than a typical Universal Life ...
by bluemarlin08
Fri Aug 22, 2014 6:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with Long term care rider
Replies: 34
Views: 2234

Re: Do the mega wealthy need life insurance?

Regarding a transfer of a policy into a trust, no income tax issues, there is potential gift tax issues regarding the value of the policy and how many beneficiaries of the trust
by bluemarlin08
Thu Aug 21, 2014 8:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Do the mega wealthy need life insurance?
Replies: 32
Views: 2631

Re: Do the mega wealthy need life insurance?

In this case it was for business disposition planning.
by bluemarlin08
Thu Aug 21, 2014 8:11 am
 
Forum: Personal Finance (Not Investing)
Topic: Do the mega wealthy need life insurance?
Replies: 32
Views: 2631

Re: What can happen to a union pension?

IMO, the risks are greater with Defined Benefit plans and the chance of them becoming underfunded. Fewer and fewer firms are choosing DB plans.
by bluemarlin08
Wed Aug 20, 2014 5:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: What can happen to a union pension?
Replies: 10
Views: 1155

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: 32
Views: 2631

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: 32
Views: 2631

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: 32
Views: 2631

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: 32
Views: 2631

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: 32
Views: 2631

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: 30
Views: 2504

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: 1093

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: 98
Views: 6874

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: 893

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: 15
Views: 1003
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