Search found 2221 matches

by BruDude
Fri Jul 22, 2016 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Term life insurance - "overinsured" definition
Replies: 13
Views: 983

Re: Term life insurance - "overinsured" definition

Most insurance companies will issue up to a maximum of 30x income for someone under age 40, 20x income for someone age 40-50, etc. They will go higher if justification for a larger benefit can be provided (special needs circumstances, estate planning, etc).
by BruDude
Thu Jul 21, 2016 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Buying life insurance to support disabled child (SNT), sibling, and wife. Multiple policies needed, term and whole?
Replies: 8
Views: 712

Re: Buying life insurance to support disabled child (SNT), sibling, and wife. Multiple policies needed, term and whole?

One more thought I should add - if you are the working spouse and your wife is taking care of the disabled child, what would you do if she died? You'd have to look at the option of reducing work time or hiring a caretaker, both of which are significant hits to your income. Your wife may need a sizab...
by BruDude
Thu Jul 21, 2016 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Premium increase for federal employee long term care insurance
Replies: 39
Views: 2183

Re: Premium increase for federal employee long term care insurance

May I ask what your total premium is for a single person? My ltc bought through employer is $2700.00. For a max of $270,000. Max of $273 a day. I bought at age 56. I initially bought at age 52. My premiums are going from $123.64 per month to $279.42/month, so $1484 per year to $3353 per year. Wife'...
by BruDude
Thu Jul 21, 2016 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage broker prohibiting me from refinancing
Replies: 18
Views: 2049

Re: Mortgage broker prohibiting me from refinancing

This is pretty common, PenFed has a similar rule which I think is for 2 years instead of 6 months.
by BruDude
Thu Jul 21, 2016 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Premium increase for federal employee long term care insurance
Replies: 39
Views: 2183

Re: Premium increase for federal employee long term care insurance

I think it's pretty telling that JH was the only company that was even interested in the immediate sale of 274,000 LTC policies on a group basis. None of the other companies even made a bid, wow!
by BruDude
Wed Jul 20, 2016 1:36 am
Forum: Personal Finance (Not Investing)
Topic: Buying life insurance to support disabled child (SNT), sibling, and wife. Multiple policies needed, term and whole?
Replies: 8
Views: 712

Re: Buying life insurance to support disabled child (SNT), sibling, and wife. Multiple policies needed, term and whole?

You have the right idea. Term insurance can be used to support your wife at a lower cost than permanent coverage. You have to decide how much you are willing to spend between both policies. I'd look at 30 year term for the immediate need and a guaranteed universal life policy for the SNT. Guaranteed...
by BruDude
Wed Jul 20, 2016 1:25 am
Forum: Personal Finance (Not Investing)
Topic: Getting Disability Insurance without financial planning services
Replies: 11
Views: 827

Re: Getting Disability Insurance without financial planning services

The guy who sold me mine said he gets a % of the amount paid per year forever, just for keeping me signed up. Additionally, he got a bigger % of initial payment. The numbers were on the high side for a product that they are never required to do additional work for in most cases. DI policies should ...
by BruDude
Tue Jul 19, 2016 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: State Farm Term Life
Replies: 14
Views: 972

Re: State Farm Term Life

In the thread, it was mentioned that few keep level term all through the level premium period. At the risk of a thread hijack, I want to discuss keeping level term policies till end of term. I was recently considering dropping my term policy in its last year at age 60 because I retired. I am paying...
by BruDude
Tue Jul 19, 2016 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Joint Term Life Insurance
Replies: 12
Views: 720

Re: Joint Term Life Insurance

Buy two separate policies. If you ever get divorced, one spouse isn't going to want the other spouse holding a policy on their life in which they have no control over the beneficiary. Since there are so few companies that sell joint term (I can't think of any off the top of my head), it will probabl...
by BruDude
Mon Jul 18, 2016 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: State Farm Term Life
Replies: 14
Views: 972

Re: State Farm Term Life

State Farm is among the most expensive term policies out there and the underwriting is much more conservative than other companies if you have any health impairments or are overweight. Return of Premium policies are almost always a bad deal for the purchaser. You have to keep the policy for the full...
by BruDude
Fri Jul 15, 2016 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: AMA Life & Disability Insurance
Replies: 12
Views: 2160

Re: AMA Life & Disability Insurance

Thanks so much for this. I have decided not to go with the AMA policy and looking into met life but was told they are exiting the business. Back to square one! MetLife is still selling new policies until September 1, must be approved by October 31 at the latest. These policies are legal contracts a...
by BruDude
Fri Jul 15, 2016 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Whole-Life Insurance Information Source?
Replies: 15
Views: 1146

Re: Whole-Life Insurance Information Source?

Burial insurance or whole life on children is a complete scam. Scam is a bit of a strong word there. Just because it's legal doesn't make it right. If it's not a scam, why do all Bogleheads run away from it? Why do they purposely make their product so complicated? Why do they need slick salesman? W...
by BruDude
Fri Jul 15, 2016 12:29 am
Forum: Personal Finance (Not Investing)
Topic: Whole-Life Insurance Information Source?
Replies: 15
Views: 1146

Re: Whole-Life Insurance Information Source?

edge wrote:Burial insurance or whole life on children is a complete scam.


Scam is a bit of a strong word there.
by BruDude
Wed Jul 06, 2016 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Turning down employer provided universal life insurance?
Replies: 16
Views: 995

Re: Turning down employer provided universal life insurance?

If this were offered to me, I would see it as simply: $2000 more taxes and more AGI. No thanks. Someone was sold a bill of goods by this insurance agent. For someone in a lower tax bracket or with health problems, this is a fantastic deal. For someone in excellent health with maximum tax implicatio...
by BruDude
Wed Jun 29, 2016 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: HELP! last minute Q re: physician disability insurance
Replies: 12
Views: 685

Re: HELP! last minute Q re: physician disability insurance

Very useful info, thanks. It's a single agent making quotes, but I have received another quote a year ago from another agent unaffiliated with the agent I am working with now during residency and the quotes from the 5 big companies were similar. I think it's a fair price ($209 for principal a month...
by BruDude
Wed Jun 29, 2016 8:44 am
Forum: Personal Finance (Not Investing)
Topic: HELP! last minute Q re: physician disability insurance
Replies: 12
Views: 685

Re: HELP! last minute Q re: physician disability insurance

Thanks guys. When I was reading through your previous post BruDude, you said in another post that it's best to buy DI before graduating because "the group coverage offered by your employer will limit the amount of coverage you can buy on an individual policy." So other than the discount y...
by BruDude
Wed Jun 29, 2016 12:57 am
Forum: Personal Finance (Not Investing)
Topic: HELP! last minute Q re: physician disability insurance
Replies: 12
Views: 685

Re: HELP! last minute Q re: physician disability insurance

Thanks. That's correct, I will have coverage through my employer of 60% of salary, up to $20k. I guess what I'm wondering is for physicians in a similar situations, assuming you are healthy and there are no other reasons why max benefits would be lower, what is the max benefit that physicians are b...
by BruDude
Wed Jun 29, 2016 12:52 am
Forum: Personal Finance (Not Investing)
Topic: HELP! last minute Q re: physician disability insurance
Replies: 12
Views: 685

Re: HELP! last minute Q re: physician disability insurance

The $6500-7500/mo you are being quoted is probably under the first-year physician's program and has nothing to do with your actual income. You are generally eligible for the first-year physicians program if you are within 6 months of starting practice. They are using that program for the quote becau...
by BruDude
Mon Jun 20, 2016 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Term Insurance 30 y/o
Replies: 11
Views: 806

Re: Term Insurance 30 y/o

A few thoughts: 1. $325k combined income seems like a lot, but it's not that much in SF 2. $1M may be undercutting it for a house that will work for a family of 4-5. Isn't that basically a small townhouse in SF? $1.5-2M more realistic? 3. Will spouse keep working after kids are born? If so, childcar...
by BruDude
Wed Jun 15, 2016 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Disability insurance offer questions
Replies: 1
Views: 175

Re: Disability insurance offer questions

This looks like a "voluntary" group policy which is more similar to the benefits of an individual policy, but has some limitations that apply to group policies too. If you are a first-year physician, you should be able to get $7,500/month from any of the major DI companies since they won't...
by BruDude
Tue Jun 14, 2016 12:17 am
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance - What am I missing here?
Replies: 3
Views: 515

Re: Disability Insurance - What am I missing here?

Hard to say without seeing the quotes. There could be a different occupation class quoted, different benefit period/elimination period, rider amounts, discount vs no discount, etc. Also possible that a quote was run as the wrong gender. I'd buy the policy from the best agent you can find that you ar...
by BruDude
Mon Jun 13, 2016 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance
Replies: 5
Views: 352

Re: Life Insurance

His only option is going to be a guaranteed-issue policy with a graded death benefit. Gerber has the cheapest one that I know of and doesn't charge extra for smokers. Max benefit is $25k which would be $94.65/month for a 50-year old male. If his health is as you describe, I think that is a very good...
by BruDude
Thu Jun 09, 2016 5:14 am
Forum: Personal Finance (Not Investing)
Topic: physician disability insurance as a resident
Replies: 16
Views: 1070

Re: physician disability insurance as a resident

The rates will probably be 3-6% higher if you wait a year to buy the extra coverage. Level structure is preferable because it has the lowest long-term cost. Every year you wait to change from graded to level premiums, you wind up with a higher level premium for the rest of the policy's life after th...
by BruDude
Wed Jun 08, 2016 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: physician disability insurance as a resident
Replies: 16
Views: 1070

Re: physician disability insurance as a resident

Thanks for the responses, They do offer up to 5k per month of coverage for 125% of the premiums listed above. I guess I am not really looking for the best possible coverage but coverage that has a better cost to benefit ratio. Do the premiums above seem to be consistent with market prices? It seems...
by BruDude
Wed Jun 08, 2016 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: physician disability insurance as a resident
Replies: 16
Views: 1070

Re: physician disability insurance as a resident

Sounds like you're in California. Guardian has the best DI coverage you can get, but not sure why they are quoting you $4000/month when you are eligible for $5000/month. If you want to keep the cost lower while in residency, use their graded premium option which allows you to start with a lower rate...
by BruDude
Wed Jun 08, 2016 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Premier Choice being suggested by agent for health insurance
Replies: 2
Views: 189

Re: Premier Choice being suggested by agent for health insurance

DO NOT buy that plan, it is total garbage, it's not health insurance, and you'd still have to pay the penalty for non-compliant coverage on top of that. Those plans work the opposite way of how health insurance works since all of the large claim risk is on yourself instead of the insurance company (...
by BruDude
Wed Jun 08, 2016 10:38 am
Forum: Personal Finance (Not Investing)
Topic: When would you stop paying for disability insurance?
Replies: 20
Views: 1369

Re: When would you stop paying for disability insurance?

The older you get, the better the "deal" becomes based on price vs. your risk level. A claim would allow you to collect ~$180k/year tax free. There is a much stronger likelihood of becoming disabled as you get older. Most physicians wind up keeping it for the vast majority of their working...
by BruDude
Sat May 28, 2016 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: "Indexed Annuities: The Big Lie" by Don McDonald
Replies: 26
Views: 2692

Re: "Indexed Annuities: The Big Lie" by Don McDonald

Comparing indexed annuities to actual investment returns is an apples-and-oranges comparison, they are not designed for the same purposes (that is not to say that bad agents didn't present them that way since most don't even know how they work internally). If it is viewed in the context of being a f...
by BruDude
Mon May 23, 2016 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: term life insurance
Replies: 15
Views: 1055

Re: term life insurance

For those kinds of numbers, I would just plunk that money into a Vanguard account monthly and self insure. How are you going to self-insure $500k after-tax by saving $150-200/month? What happens if OP dies tomorrow? Clearly there is a health issue causing a substandard rating to be applied. OP - Pr...
by BruDude
Fri May 20, 2016 12:47 pm
Forum: Personal Consumer Issues
Topic: Las Vegas in July
Replies: 34
Views: 3142

Re: Las Vegas in July

Make sure to see Absinthe while you're there.
by BruDude
Wed May 18, 2016 9:21 pm
Forum: Personal Consumer Issues
Topic: Making an Outdoor Grill Last
Replies: 39
Views: 3292

Re: Making an Outdoor Grill Last

Get a traeger. You can thank me later. Might be best $350 I've ever spent.
by BruDude
Wed May 18, 2016 12:15 pm
Forum: Personal Consumer Issues
Topic: Trade in BMW?
Replies: 45
Views: 3984

Re: Trade in BMW?

USAA has the best priced full-coverage aftermarket warranty that I've found. I got a 5 year 75k mile warranty on my 2010 M3 for $2200, dealer wanted $6k. It's an exclusionary warranty and they covered the $3400 evaporator unit job at $0 cost with no wait. The car had 23k miles when I bought the war...
by BruDude
Wed May 18, 2016 9:03 am
Forum: Personal Consumer Issues
Topic: Trade in BMW?
Replies: 45
Views: 3984

Re: Trade in BMW?

USAA has the best priced full-coverage aftermarket warranty that I've found. I got a 5 year 75k mile warranty on my 2010 M3 for $2200, dealer wanted $6k. It's an exclusionary warranty and they covered the $3400 evaporator unit job at $0 cost with no wait. The car had 23k miles when I bought the warr...
by BruDude
Tue May 17, 2016 2:51 pm
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 668
Views: 106875

Re: Boglehead Beer

100% sure, with a couple more of the collection for your viewing pleasure: I'm shocked you found this just sitting on the store shelves. The craft beer market must be very different in Vegas. What are the chances you'd be willing to pick up more and ship it to me? I'd obviously cover the expenses. ...
by BruDude
Tue May 17, 2016 8:37 am
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 668
Views: 106875

Re: Boglehead Beer

100% sure, with a couple more of the collection for your viewing pleasure: I'm shocked you found this just sitting on the store shelves. The craft beer market must be very different in Vegas. What are the chances you'd be willing to pick up more and ship it to me? I'd obviously cover the expenses. ...
by BruDude
Mon May 16, 2016 4:34 pm
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 668
Views: 106875

Re: Boglehead Beer

They were just sitting on the shelf. I could have grabbed more but didn't want to be a jerk and buy the whole supply. I'm in Las Vegas. It shocks me that KBS is that widely available. Are you sure it was barrel-aged Kentucky Breakfast Stout (http://foundersbrewing.com/our-beer/kbs/) and not the mor...
by BruDude
Mon May 16, 2016 12:47 pm
Forum: Personal Consumer Issues
Topic: buying pet food online
Replies: 38
Views: 1766

Re: buying pet food online

Chewy and Amazon Prime are great. I buy mine at Costco though.
by BruDude
Mon May 16, 2016 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Is there an HSA account without monthly fee
Replies: 28
Views: 2635

Re: Is there an HSA account without monthly fee

First American bank does not charge any fees for thier basic account.

https://www.firstambank.com/personalban ... -accounts/
by BruDude
Mon May 16, 2016 11:18 am
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 668
Views: 106875

Re: Boglehead Beer

Picked up two 4-packs of Founders Kentucky Breakfast Stout. Had one last night, was pretty fantastic....going to save the others and age them. Should be pretty incredible in 3-5 years. How were you able to pick up TWO 4-PACKS of KBS? Where I live, you have to sign up for a 'lottery' at local craft ...
by BruDude
Mon May 16, 2016 9:35 am
Forum: Personal Finance (Not Investing)
Topic: private health insurance: broker or no?
Replies: 2
Views: 362

Re: private health insurance: broker or no?

Using a broker doesn't cost you anything but since most insurance companies have decided not to pay commissions on policies outside of open enrollment, you very well may have a hard time finding one willing to help you.
by BruDude
Sun May 15, 2016 11:27 pm
Forum: Personal Consumer Issues
Topic: Trade in BMW?
Replies: 45
Views: 3984

Re: Trade in BMW?

True -- but you gotta admit that car's a blast! I figured there'd be the occasional issue. Oh, and I go through a lot of tires, but that's not the car's fault. Every time I take an older Honda in, there's $500 - $800 of nonsense that's recommended. The 335D was great....until I drove an E92 M3. :D ...
by BruDude
Sun May 15, 2016 10:44 pm
Forum: Personal Consumer Issues
Topic: Trade in BMW?
Replies: 45
Views: 3984

Re: Trade in BMW?

True -- but you gotta admit that car's a blast! I figured there'd be the occasional issue. Oh, and I go through a lot of tires, but that's not the car's fault. Every time I take an older Honda in, there's $500 - $800 of nonsense that's recommended. The 335D was great....until I drove an E92 M3. :D ...
by BruDude
Sun May 15, 2016 10:33 pm
Forum: Personal Consumer Issues
Topic: Trade in BMW?
Replies: 45
Views: 3984

Re: Trade in BMW?

I think you need a reply specific to this car. You have a spectacular engine -- that 6-cylinder diesel is the same as my 2011 335d (the last year they put them in 3-series -- now they're all wimpy 4-cylinders). It's a powerhouse and an absolute blast to drive, as I'm sure you know. But you're in th...
by BruDude
Sun May 15, 2016 10:20 pm
Forum: Personal Consumer Issues
Topic: Comfortable Vehicle Front Seats
Replies: 62
Views: 9848

Re: Comfortable Vehicle Front Seats

Porsche Panamera has the most comfortable seats I've ever sat in short of a Bentley/Rolls. Current generation of Mercedes S class is also incredible. Of course, budget plays a factor with both of those cars...
by BruDude
Sun May 15, 2016 10:08 pm
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 668
Views: 106875

Re: Boglehead Beer

Picked up two 4-packs of Founders Kentucky Breakfast Stout. Had one last night, was pretty fantastic....going to save the others and age them. Should be pretty incredible in 3-5 years.
by BruDude
Sun May 15, 2016 10:07 pm
Forum: Personal Consumer Issues
Topic: Trade in BMW?
Replies: 45
Views: 3984

Re: Trade in BMW?

Buy an extended warranty from Fidelity Platinum or USAA. Will probably cost you $3-5k but that's a heck of a lot less to lose than trading in the car. I bought an extended warranty from USAA on my M3 for $2100 and in the first 4 months of having it I had the evaporator unit replaced at $0 cost. With...
by BruDude
Thu May 12, 2016 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding renewal offers for 20-year level term
Replies: 9
Views: 1071

Re: Understanding renewal offers for 20-year level term

There is a conversion option, but the prices quoted were to continue term coverage for one year. Based on what I see in the original documents, my huband and I were in different ratings categories which seems to explain some of the differences at least. Those rates are going to jump every year, pro...
by BruDude
Thu May 12, 2016 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding renewal offers for 20-year level term
Replies: 9
Views: 1071

Re: Understanding renewal offers for 20-year level term

It's probably pretty simple - you have two different policy series and they may have had different levels of claims on the overall group, resulting in one having higher renewal rates than the other. Although you are "renewing" the policy, it is probably for annually renewable term insuranc...
by BruDude
Thu May 12, 2016 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Poll: Let's talk wristwatches
Replies: 158
Views: 26354

Re: Poll: Let's talk wristwatches

I'm a bit of a watch nut and have gone through a lot of them, currently have a Panerai Black Seal. Actually paid for itself when I struck up a conversation with someone that gave me a compliment on it and ended up buying a couple of insurance policies from me. I've made some money on trading them ou...

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