Search found 2258 matches

by BruDude
Mon Aug 22, 2016 1:33 pm
Forum: Personal Consumer Issues
Topic: Health Insurance Puzzle: how should I understand this?
Replies: 30
Views: 2348

Re: Health Insurance Puzzle: how should I understand this?

I agree this is a problem and patients are put in a bad position. There are 7 doctors in my specialty at my hospital and none of them are in-network with any medical plans. The hospital is not willing to pay us. If we were not at the hospital, then those services simply would not be available. Damn...
by BruDude
Mon Aug 22, 2016 1:20 pm
Forum: Personal Consumer Issues
Topic: Health Insurance Puzzle: how should I understand this?
Replies: 30
Views: 2348

Re: Health Insurance Puzzle: how should I understand this?

Like most independent docs, I work IN the hospital but I don't work FOR the hospital. I am on the call schedule because most hospitals require this in return for admitting privileges to bring our own patients to the hospital electively. For the things I get called on, insurance pays pennies on the ...
by BruDude
Mon Aug 22, 2016 1:16 pm
Forum: Personal Consumer Issues
Topic: Health Insurance Puzzle: how should I understand this?
Replies: 30
Views: 2348

Re: Health Insurance Puzzle: how should I understand this?

This has nothing to do with the insurance companies - it has to do with the providers not being willing to accept insurance, and the hospitals/facilities not requiring their contracted physicians to take the same insurance that the hospital itself takes. Doctors can't be forced to accept insurance ...
by BruDude
Mon Aug 22, 2016 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowners should consider flood insurance
Replies: 68
Views: 4948

Re: Homeowners should consider flood insurance

Glad I live in the desert! Dealing with this kind of stuff must be a nightmare for those unprepared for it. When I lived in VA, we had an earthquake and many homes had significant damage that wasn't covered by their homeowners insurance. The State Farm agent said that apparently my dad was the only...
by BruDude
Mon Aug 22, 2016 1:00 pm
Forum: Personal Consumer Issues
Topic: Health Insurance Puzzle: how should I understand this?
Replies: 30
Views: 2348

Re: Health Insurance Puzzle: how should I understand this?

This has EVERYTHING to do with insurance companies. You skipped over my last post where I explained how they do this. You're actually recommending that providers should be forced to accept whatever a 3rd party feels like giving them? Can we do this same in your profession? You have to just accept w...
by BruDude
Mon Aug 22, 2016 11:03 am
Forum: Personal Consumer Issues
Topic: Please, please advise...Health insurance terminated by insurance company
Replies: 40
Views: 2404

Re: Please, please advise...Health insurance terminated by insurance company

All the individual insurance companies in my area do not accept CC autopay. Monthly autopay has to be bank draft. Not sure if it was your case or not. Do contact your insurance commissioner if you think they're in the wrong. I do know that your healthcare.gov plan would automatically cancel after n...
by BruDude
Mon Aug 22, 2016 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Homeowners should consider flood insurance
Replies: 68
Views: 4948

Re: Homeowners should consider flood insurance

Glad I live in the desert! Dealing with this kind of stuff must be a nightmare for those unprepared for it. When I lived in VA, we had an earthquake and many homes had significant damage that wasn't covered by their homeowners insurance. The State Farm agent said that apparently my dad was the only ...
by BruDude
Mon Aug 22, 2016 10:51 am
Forum: Personal Consumer Issues
Topic: Please, please advise...Health insurance terminated by insurance company
Replies: 40
Views: 2404

Re: Please, please advise...Health insurance terminated by insurance company

When you go through HC.gov, the insurance company can't do anything to reinstate the policy on their own. You need to appeal the decision with HC.gov and they have to send the file back to the insurance company instructing them to reinstate the policy. Speak with a supervisor, explain the situation,...
by BruDude
Mon Aug 22, 2016 10:46 am
Forum: Personal Consumer Issues
Topic: Health Insurance Puzzle: how should I understand this?
Replies: 30
Views: 2348

Re: Health Insurance Puzzle: how should I understand this?

As a physician, I am sick and tired of how many times our patients get thrown this kind of curve ball. I hear at least one or two of these horror stories every week. The insurance companies have to get their act together in this regard: either expand their networks or agree on a patient's best poss...
by BruDude
Mon Aug 22, 2016 10:38 am
Forum: Personal Consumer Issues
Topic: Life insurance: approved by 2 companies. Can I negotiate premium?
Replies: 8
Views: 1036

Re: Life insurance: approved by 2 companies. Can I negotiate premium?

I don't think you will have much luck. Insurance companies generally have to file their rates with the state insurance commission and then stick with them. An agent could offer to rebate some of their commission back to you but this is illegal in most (all?) localities. It is really hard to general...
by BruDude
Thu Aug 18, 2016 1:34 pm
Forum: Personal Consumer Issues
Topic: Home warranty of choice?
Replies: 13
Views: 820

Re: Home warranty of choice?

Old Republic home warranty was decent. Youre better off finding good contractors through angieslist & nextdoor.com Old Republic is the only home warranty worth buying. When I rented they were incredibly easy to work with and never denied a claim once (we had at least 8 claims, maybe 10 in the r...
by BruDude
Wed Aug 17, 2016 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: High Net Worth Life Insurance Questions
Replies: 42
Views: 2502

Re: High Net Worth Life Insurance Questions

Even if the bulk of the estate is in fairly liquid financial assets, it still makes a lot of sense to have a life insurance policy cover this liability. The estate would likely incur extra taxes (realizing gains, etc) just to pay the estate tax itself. Also, your estate assets might be pretty liqui...
by BruDude
Wed Aug 17, 2016 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: High Net Worth Life Insurance Questions
Replies: 42
Views: 2502

Re: High Net Worth Life Insurance Questions

I understand your point. Whether it makes sense to buy the life insurance policy certainly depends on age and health - as I said, for a 50-year-old couple with health problems, it would be much more expensive to buy the insurance policy. The $23k per year premium was pulled directly from the insura...
by BruDude
Wed Aug 17, 2016 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: High Net Worth Life Insurance Questions
Replies: 42
Views: 2502

Re: High Net Worth Life Insurance Questions

This was my initial reaction as well, but I figured that there were benefits to using a UL policy to pay off the estate tax bill that I overlooked. I'd obviously prefer to put the money I'd be paying in premiums to work by investing it if possible. The benefit of the UL policy within a ILIT is that...
by BruDude
Wed Aug 17, 2016 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: High Net Worth Life Insurance Questions
Replies: 42
Views: 2502

Re: High Net Worth Life Insurance Questions

Even if the bulk of the estate is in fairly liquid financial assets, it still makes a lot of sense to have a life insurance policy cover this liability. The estate would likely incur extra taxes (realizing gains, etc) just to pay the estate tax itself. Also, your estate assets might be pretty liqui...
by BruDude
Wed Aug 17, 2016 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: High Net Worth Life Insurance Questions
Replies: 42
Views: 2502

Re: High Net Worth Life Insurance Questions

To give you an example, let's assume you and spouse are both in great health and qualify for the best health rating on your life insurance. A $10M second-to-die policy guaranteed for life would be around $23,000 per year in premiums. If you both live for 50 years, you've paid a little over $1M in p...
by BruDude
Wed Aug 17, 2016 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: High Net Worth Life Insurance Questions
Replies: 42
Views: 2502

Re: High Net Worth Life Insurance Questions

I'd stick to a term policy that covers your younger earning years. Whole life from an investment perspective rarely makes sense unless you die early or your estate needs liquidity to pay taxes due to holding illiquid assets. Don't buy the old belief that you need a ILIT to cover your estate tax lia...
by BruDude
Wed Aug 17, 2016 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: High Net Worth Life Insurance Questions
Replies: 42
Views: 2502

Re: High Net Worth Life Insurance Questions

I'd stick to a term policy that covers your younger earning years. Whole life from an investment perspective rarely makes sense unless you die early or your estate needs liquidity to pay taxes due to holding illiquid assets. Don't buy the old belief that you need a ILIT to cover your estate tax lia...
by BruDude
Wed Aug 17, 2016 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: High Net Worth Life Insurance Questions
Replies: 42
Views: 2502

Re: High Net Worth Life Insurance Questions

I just want to thank everyone for their helpful replies. I'm still learning about both life insurance and estate planning, and it's valuable to hear the thoughts of people without a financial incentive to sell me things! Many of you mentioned the need to consider a separate life insurance policy fo...
by BruDude
Wed Aug 17, 2016 1:49 am
Forum: Personal Finance (Not Investing)
Topic: High Net Worth Life Insurance Questions
Replies: 42
Views: 2502

Re: High Net Worth Life Insurance Questions

1. Benefit amount seems ok. Even a large amount of term insurance at your age will be dirt cheap ($10 million is $3400-6500 annually for 20/30 year term if you qualify for the best health rate class). 2. You really need two separate policies for two separate purposes - the term insurance for your wi...
by BruDude
Mon Aug 15, 2016 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Sanity Check - LT Disability Insurance Policy
Replies: 4
Views: 306

Re: Sanity Check - LT Disability Insurance Policy

California is very expensive for DI relative to other states and the 24-month mental/nervous limitation is a CA requirement for Principal and most other companies. Have you tried getting quotes for comparable coverage with other companies? Guardian, MetLife, Ameritas, and Standard should all be comp...
by BruDude
Wed Aug 10, 2016 9:56 am
Forum: Personal Consumer Issues
Topic: Best Crossover SUV to purchase
Replies: 122
Views: 10262

Re: Best Crossover SUV to purchase

Porsche Cayenne S, GTS, or Turbo. 2011+ models have updated interior which is ultra-luxury and much nicer than 2010 or earlier. If you want cheaper/ultra-reliable, go Japanese. A 2011-2012 S model should be right in your price range, or 08-10 GTS/Turbo.
by BruDude
Mon Aug 08, 2016 10:22 pm
Forum: Personal Finance (Not Investing)
Topic: Father passed, helping Mother weed through Insurance, question
Replies: 7
Views: 1096

Re: Father passed, helping Mother weed through Insurance, question

I recently processed 5 small life insurance claims and one very small IRA claim. My advice to you is not to think too much about the process. Unless their request is not an undue burden or is not moving towards your desired resolution, then just follow the instructions. Each organization had a slig...
by BruDude
Fri Aug 05, 2016 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Getting Disability Insurance without financial planning services
Replies: 22
Views: 1748

Re: Getting Disability Insurance without financial planning services

That guy is one good salesman. He might not sell you something you were not looking for, but I bet he manages to close the deal on a very high percentage of customers. x2. I don't really like LEAP and the approach that Guardian career agents use for selling their products (and I love Guardian as a ...
by BruDude
Thu Aug 04, 2016 12:14 am
Forum: Personal Finance (Not Investing)
Topic: Depending on stability of ACA marketplace for next 8 years?
Replies: 40
Views: 2904

Re: Depending on stability of ACA marketplace for next 8 years?

As a health insurance agent with 10 years in the business, I will say no, they will not remain stable. Id be surprised if they last another three years. Something has to change, the current market is not sustainable for insurance companies or unsubsidized consumers.
by BruDude
Wed Aug 03, 2016 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: 29 years old too young to buy Long Term Care Insurance?
Replies: 28
Views: 2765

Re: 29 years old too young to buy Long Term Care Insurance?

Way too early, the entire landscape of healthcare in the US could be completely different by the time you're even in your 50's.
by BruDude
Wed Aug 03, 2016 2:46 pm
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 689
Views: 113326

Re: Boglehead Beer

And yes, KBS is magical. It's damn good. Not wait in line for an hour to get 2 bottles good, but close. Luckily, the more pedestrian "Breakfast Stout" is very good and doesn't require standing in much of a line. JT Agree on both accounts. Too much good beer out there to wait in line for a...
by BruDude
Wed Aug 03, 2016 11:35 am
Forum: Personal Finance (Not Investing)
Topic: daves ramsey new ELPs [Endorsed Local Providers]
Replies: 37
Views: 3167

Re: daves ramsey new ELPs

He calls the new program SMARTVESTOR PRO. Because, by using his service, YOU are a SMART inVESTOR! Just out of curiosity I looked to see what the ELP I mean Smartvestor looked like in my city. Two were Northwestern Mutual reps (Bogleheads start breaking out in a cold sweat). The other works with Pr...
by BruDude
Wed Aug 03, 2016 11:33 am
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 689
Views: 113326

Re: Boglehead Beer

Is KBS a magic beer? I don't get the hype. Coffee, chocolate flavored beer isn't for me anyways. I like the Amber Ales. It's ok, you're probably only in the beginning stages of beer snobbery. Once you get to the advanced stages, you'll be paying $30/bottle for rare beers and standing in line for sp...
by BruDude
Tue Aug 02, 2016 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance IN ADDITION to employer provided
Replies: 2
Views: 192

Re: Disability Insurance IN ADDITION to employer provided

Good evening. My employer provides Group Long Term Disability Insurance, free of cost to employees. Obviously, the policy has numerous exclusions and limitations. Does having this employer sponsored insurance prevent me from purchasing an individual policy? If the above is the case, is my only opti...
by BruDude
Mon Aug 01, 2016 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about life insurance
Replies: 11
Views: 491

Re: Questions about life insurance

Brudude dropped some knowledge up on me. Thanks, the layman's terms explanation is what I was looking for. I figured that's more or less how it worked, but I wanted to make sure. I was never actually considering purchasing EIUL. If I wanted to invest money in an equity index I'd just buy an index f...
by BruDude
Mon Aug 01, 2016 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about life insurance
Replies: 11
Views: 491

Re: Questions about life insurance

The agents sound like scumbags that don't have a clue what they are actually selling or are trying to pull the wool over your eyes. I don't know if I would go so far as to call them scumbags. They're told that their products are good, otherwise their clients wouldn't stay with them. So I don't thin...
by BruDude
Mon Aug 01, 2016 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about life insurance
Replies: 11
Views: 491

Re: Questions about life insurance

The agents sound like scumbags that don't have a clue what they are actually selling or are trying to pull the wool over your eyes.
by BruDude
Fri Jul 29, 2016 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Doctor takes HMO but not PPO insurance?
Replies: 58
Views: 3033

Re: Doctor takes HMO but not PPO insurance?

Pretty unusual since the PPO would pay the doctor higher reimbursement rates. Not sure why they'd want to have less money, but alright.
by BruDude
Wed Jul 27, 2016 12:35 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Disability Trust questions (disabled physician)
Replies: 4
Views: 492

Re: Retirement Disability Trust questions (disabled physician)

Have you tried getting principal involved? I'm not sure what their contract from 2006 would stipulate but I have always been told that Guardian's similar benefit allows the insured to choose from a designated portfolio of funds instead of having a trustee make those decisions.
by BruDude
Sun Jul 24, 2016 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Getting Disability Insurance without financial planning services
Replies: 22
Views: 1748

Re: Getting Disability Insurance without financial planning services

If you are a member of a professional organization and/or union, see if there is something available there. ... That was what I found. When I needed disability insurance, I bought it through the plan that one of the bar associations I'm a member of negotiated with an insurance company. Insurance ag...
by BruDude
Sun Jul 24, 2016 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 1
Views: 239

Re: Disability Insurance

You'll almost certainly have an exclusion for any vision/blindness-related disabilities or complications. Underlying reason for blindness will be taken into consideration, hard to say without knowing the cause.
by BruDude
Fri Jul 22, 2016 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Term life insurance - "overinsured" definition
Replies: 13
Views: 1084

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: 10
Views: 1000

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: 59
Views: 4309

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: 2206

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: 59
Views: 4309

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: 10
Views: 1000

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: 22
Views: 1748

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: 1033

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: 786

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: 1033

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: 2214

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: 1186

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: 1186

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.

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