Search found 2463 matches

by BruDude
Mon Mar 20, 2017 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance?
Replies: 14
Views: 683

Re: How much life insurance?

$1M for you, $500-750k for her is probably good. At your age, the cost is dirt cheap, so buy a little extra if needed for peace of mind.
by BruDude
Sun Mar 19, 2017 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: USAA and Haven Life (Mass Mutual) Life Insurance Quotes
Replies: 3
Views: 234

Re: USAA and Haven Life (Mass Mutual) Life Insurance Quotes

Quotes are meaningless until you get an offer of coverage from the insurance company. It's not bait and switch. You either qualify for the quoted rate or you don't...but that doesn't mean everyone qualifies for Preferred Plus. USAA has more strict underwriting guidelines than most insurance companie...
by BruDude
Thu Mar 16, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: GEICO auto rates vs. USAA: too good to be true?
Replies: 127
Views: 9394

Re: GEICO auto rates vs. USAA: too good to be true?

I just switched from Liberty Mutual to Geico and went from $291/mo for two cars $250/500/100k with $2500 deductible on comp/collision to $129/mo for the same two cars with $300/500/100k and $100 deductible on comp and $1000 on collision. Thanks to OP for posting this otherwise I probably wouldn't ha...
by BruDude
Mon Mar 13, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Getting Term Life Insurance - Plus or Basic? (Ohio National)
Replies: 12
Views: 520

Re: Getting Term Life Insurance - Plus or Basic? (Ohio National)

The plus gives you right to convert....That's great BUT what is the coverage amount? They may "convert" and cover you for $10K which is worthless. Or assuming they convert to your original coverage of $500K/$1 million. How much do you think the premium will be then? You're definitely not ...
by BruDude
Mon Mar 13, 2017 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Getting Term Life Insurance - Plus or Basic? (Ohio National)
Replies: 12
Views: 520

Re: Getting Term Life Insurance - Plus or Basic? (Ohio National)

As someone who sells life insurance, I can tell you that there are certainly a lot of people that wish they had a better conversion option available on their old policies. Life changes, things don't work out as planned, someone has a major health issue and becomes uninsurable, etc. Then they are stu...
by BruDude
Mon Mar 13, 2017 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Getting Term Life Insurance - Plus or Basic? (Ohio National)
Replies: 12
Views: 520

Re: Getting Term Life Insurance - Plus or Basic? (Ohio National)

The agent summed it up pretty well. Personally, I'd pay the slight bit extra for the Plus just in case, but I'm sure many that want the cheapest straight term insurance would just take the basic. I'd say about half my clients choose Basic and half choose the Plus. Ohio National has very competitive ...
by BruDude
Fri Mar 10, 2017 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance More w/ Anxiety?
Replies: 8
Views: 430

Re: Life Insurance More w/ Anxiety?

The difference between Preferred (which I have) and Preferred Plus through my Protective Life is ~$200/yr for me. Run that over 30 years, and it's $6K. Frustrating. It's not easy to qualify for Preferred Plus when you have any kind of medical history. There are probably a handful of companies that ...
by BruDude
Fri Mar 10, 2017 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance More w/ Anxiety?
Replies: 8
Views: 430

Re: Life Insurance More w/ Anxiety?

General anxiety/depression can be anywhere from Preferred Plus to Standard depending on the company. Depends on the details too. Preferred is reasonable. If you really try, you might be able to get a Preferred Plus, but you may find it's not worth the hassle to save a few bucks.
by BruDude
Thu Mar 09, 2017 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Hitting the Obamacare "cliff" - and a possible way out?
Replies: 8
Views: 1532

Re: Hitting the Obamacare "cliff" - and a possible way out?

You have to file jointly to get the credit. There's even a disclaimer at the end of the subsidy application that you have to attest to.
by BruDude
Thu Mar 09, 2017 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance Pre_Exisiting Condition Clause
Replies: 4
Views: 369

Re: Disability Insurance Pre_Exisiting Condition Clause

How are you going to avoid disclosing the condition? Disability insurers usually pull your medical records and check the insurance clearinghouses and the MIB to ensure you haven't failed to disclose something. You know about the insurance clearinghouses and the MIB and the various other medical inf...
by BruDude
Thu Mar 09, 2017 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Clawback of sales commissions earned
Replies: 42
Views: 2636

Re: Clawback of sales commissions earned

You are NOT using a company-linked computer for these posts, are you? RM This post reminds me of Silicon Valley. Next thing we know OP's entire argument will be based on whether anyone believes he has a girlfriend or not. :?: It's a TV show on HBO, you'd have to see it to know what I was talking ab...
by BruDude
Thu Mar 09, 2017 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Clawback of sales commissions earned
Replies: 42
Views: 2636

Re: Clawback of sales commissions earned

ResearchMed wrote:You are NOT using a company-linked computer for these posts, are you?

RM


This post reminds me of Silicon Valley. Next thing we know OP's entire argument will be based on whether anyone believes he has a girlfriend or not.
by BruDude
Thu Mar 09, 2017 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Clawback of sales commissions earned
Replies: 42
Views: 2636

Re: Clawback of sales commissions earned

Soon after this post, I did receive notification that they intend to deduct the near five figure amount from my paycheck on March 15. If I refuse to comply by tomorrow, they will not pay me any of my commissions for February, citing that "compensation can change at any time." I'm sure com...
by BruDude
Thu Mar 09, 2017 10:31 am
Forum: Personal Finance (Not Investing)
Topic: GEICO auto rates vs. USAA: too good to be true?
Replies: 127
Views: 9394

Re: GEICO auto rates vs. USAA: too good to be true?

I'm sure there is significant variation in pricing based on driving history/location/type of cars/coverage levels, so without knowing those details and being able to compare them (which is almost impossible due to the number of variables), they may or may not be the best rate. In short, shop around.
by BruDude
Thu Mar 09, 2017 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Clawback of sales commissions earned
Replies: 42
Views: 2636

Re: Clawback of sales commissions earned

I take it that they significantly lowered commissions. If you could not agree with this new plan, you shouldn't have signed the document. Their threats to not pay you might be taken under consideration (ask the lawyer). I'd think that you're in for a bad time if you fight this. Do you have another ...
by BruDude
Wed Mar 08, 2017 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: GEICO auto rates vs. USAA: too good to be true?
Replies: 127
Views: 9394

Re: GEICO auto rates vs. USAA: too good to be true?

Currently have Liberty Mutual, for 3 cars I am paying $404/month (will reduce to $280/month when I sell the third one). Quoted Geico today after reading this thread, $182/month for $300/500/100k with accident forgiveness and $100 comprehensive/$1000 collision deductibles on all cars. Premium will re...
by BruDude
Wed Mar 08, 2017 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: I need help with cash value in universal life policy please!
Replies: 6
Views: 522

Re: I help with cash value in universal life policy

Well, if you know when your mother will die, it's easy to determine the answer. Without knowing that, it is possible that either option is superior. You need to find out from the insurance company how long the policy will last on both a current assumption and guaranteed basis.
by BruDude
Mon Mar 06, 2017 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Need help picking term life policy
Replies: 20
Views: 916

Re: Need help picking term life policy

So I probably should work with an independent agent? How do I find a good one that won't try to push insurance? I think an independent agent would be a better choice than a captive agent as the former can give you a quote from a number of insurers versus only one insurer. In regards to finding a go...
by BruDude
Mon Mar 06, 2017 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Need help picking term life policy
Replies: 20
Views: 916

Re: Need help picking term life policy

At your age, I'd buy the 30-year, which still doesn't even take you to normal retirement age. You never know what happens along the way - things change, kids might have problems, play it safe and pay for the 30-year. There are still a few companies that will give you the best health rating with your...
by BruDude
Thu Mar 02, 2017 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Should I get term insurance for spouse ?
Replies: 23
Views: 1337

Re: Should I get term insurance for spouse ?

$250k is like $20-40/month. Just buy it and stop overthinking it. It shouldn't take a year to decide whether to spend $20/month to provide some breathing room in the event of her death...not like you're talking about a substantial amount of money here. Is $20/month put into any type of investment fo...
by BruDude
Wed Mar 01, 2017 11:31 am
Forum: Personal Finance (Not Investing)
Topic: American General Life term-life policy
Replies: 7
Views: 450

Re: American General Life term-life policy

6-8 weeks is normal. 12 weeks not unusual. Often depends on how long it takes your doctors to return the requested medical records and how quickly you take the exam.
by BruDude
Wed Mar 01, 2017 11:11 am
Forum: Personal Consumer Issues
Topic: Comfortable Vehicle Front Seats
Replies: 74
Views: 12126

Re: Comfortable Vehicle Front Seats

BMW X5 with the "comfort seats" option are incredibly comfortable as the name implies. Might be worth checking out.
by BruDude
Wed Mar 01, 2017 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Physician Disability Insurance
Replies: 43
Views: 2586

Re: Physician Disability Insurance

I've often heard the average claim is two years, which would be the extension of time after the average elimination period, not including it. Term life insurance only has claims on about 2% of all policies sold - still, the risk of the financial catastrophe to you alone is 100% in the event of deat...
by BruDude
Wed Mar 01, 2017 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Physician Disability Insurance
Replies: 43
Views: 2586

Re: Physician Disability Insurance

BruDude raises an interesting question of the distribution of disability claims durations. What fraction of them are long enough to trigger insurance coverage? If one has a six-month elimination period, how likely is it that a disability claim will go that long? Anyone know a source for these data?...
by BruDude
Tue Feb 28, 2017 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Disability Insurance
Replies: 43
Views: 2586

Re: Physician Disability Insurance

Do insurance agents really get 50% of the first year's premium of an individual disability insurance policy as commission? I guess when you are buying an individual disability insurance policy you're not getting what you paid for - the insurance agent is the one getting what you paid for. https://w...
by BruDude
Tue Feb 28, 2017 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Disability Insurance
Replies: 43
Views: 2586

Re: Physician Disability Insurance

I guess when you are buying an individual disability insurance policy you're not getting what you paid for - the insurance agent is the one getting what you paid for. No, based on that, the insurance agent isn't getting what you paid for, they're getting (some of) what you paid for it. Less sarcast...
by BruDude
Tue Feb 28, 2017 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Meeting with Life Insurance Salesmen
Replies: 32
Views: 2180

Re: Meeting with Life Insurance Salesmen

Asking your college roommate-turned-life-insurance-salesman friend any sort of actual meaningful questions about the insurance is likely to lead to a blank stare and an "uh...I...I'm not sure, I'll get back to you on that, let me check with my manager" response. Chances are your friend doe...
by BruDude
Tue Feb 28, 2017 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Disability Insurance
Replies: 43
Views: 2586

Re: Physician Disability Insurance

The older you get, the better of a "deal" it becomes - you are still paying the same rate at age 60 as you were at age 35, but have a considerably higher risk of becoming disabled. BruDude, I have the greatest respect for your knowledge of disability insurance and I have learned a lot fro...
by BruDude
Tue Feb 28, 2017 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Disability Insurance
Replies: 43
Views: 2586

Re: Physician Disability Insurance

Disability insurance through the American College of Surgeons might be worth considering, due to its low cost (and it does have own surgical specialty coverage): http://acs.amwins.com/sites/acs/files/media/LTD%20GEN%20Handout%202016_web.pdf Premiums seem very low for surgeons, not sustainable IMO. ...
by BruDude
Tue Feb 28, 2017 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Disability Insurance
Replies: 43
Views: 2586

Re: Physician Disability Insurance

I guess it boils down to what level of income protection or lack thereof one is comfortable sleeping with at night. My spouse and I certainly have disparate views on that. Pretty much. You can always gamble with not buying any type of insurance, it's a question of whether the risk of doing so is wo...
by BruDude
Sun Feb 26, 2017 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Disability Insurance
Replies: 43
Views: 2586

Re: Physician Disability Insurance

Disclaimer - I sell insurance Yes, you should definitely have disability insurance, and IMO a lot more than $15k/month. Sure, you could probably retire tomorrow and be just fine, but you are earning $1M/year for potentially another 20+ years - why would you want to risk losing that income for such ...
by BruDude
Sun Feb 26, 2017 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Disability Insurance
Replies: 43
Views: 2586

Re: Physician Disability Insurance

I cannot see the need to keep disability insurance until retirement. After all, if I no longer need my earned income and can retire, then I don't need the insurance. I don't know how long before retirement I will drop coverage but probably at age 65. From that point my policies only provide a year ...
by BruDude
Sat Feb 25, 2017 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Flexible Premium Adjustable Life Insurance
Replies: 4
Views: 279

Re: Flexible Premium Adjustable Life Insurance

Yes, it is indeed Protective. I only intend to pay what is stated in the schedule so then it seems to run like term. Confused by why they would issue this instead of straight term I requested but the price was good. Thank you for clarifying! I appreciate it! Different reserve requirements for the i...
by BruDude
Sat Feb 25, 2017 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Flexible Premium Adjustable Life Insurance
Replies: 4
Views: 279

Re: Flexible Premium Adjustable Life Insurance

Sounds like Protective Life. If so, yes, the policy works just like regular term insurance, but it is on a universal life chassis. Technically, you can pay more or less than the stated premium, but that would change the guarantees in the policy. If you just pay what is stated, it will be no differen...
by BruDude
Sat Feb 25, 2017 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: 10 yr. term life policy for soon to be 57 yr old.
Replies: 8
Views: 1091

Re: 10 yr. term life policy for soon to be 57 yr old.

Use an independent agent. The cost is the same whether you buy "direct" or through an agent, the commission is built into the policy regardless. When you call the insurance company, they will have a licensed in-house agent sell you the policy anyway. Might as well use someone that knows wh...
by BruDude
Sat Feb 25, 2017 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Disability Insurance
Replies: 43
Views: 2586

Re: Physician Disability Insurance

Disclaimer: I don't sell insurance and regard with great suspicion all who do. I'm also a physician. I disagree with BruDude's suggestion that you should be thinking about protecting anything close to your total income. You need to be able to replace whatever you and your family would need to conti...
by BruDude
Sat Feb 25, 2017 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Disability Insurance
Replies: 43
Views: 2586

Re: Physician Disability Insurance

Disclaimer - I sell insurance Yes, you should definitely have disability insurance, and IMO a lot more than $15k/month. Sure, you could probably retire tomorrow and be just fine, but you are earning $1M/year for potentially another 20+ years - why would you want to risk losing that income for such a...
by BruDude
Fri Feb 24, 2017 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Buying my own life, disability, & unemployment insurance?
Replies: 7
Views: 506

Re: Buying my own life, disability, & unemployment insurance?

If I was in your shoes, I would not get life insurance, disability or unemployment insurance. I would try and save as much as I could to the point that I would be able to self insure. If you get life insurance get term, but if you have no dependents it seems superfluous. Disability may make sense i...
by BruDude
Fri Feb 24, 2017 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Buying my own life, disability, & unemployment insurance?
Replies: 7
Views: 506

Re: Buying my own life, disability, & unemployment insurance?

Disability : $2,500 monthly payout coverage for $38/month. Source = SelectQuote Probably a garbage policy. A good DI policy is going to cost you somewhere between 1-3% of your income that is being covered (i.e. $90k income at 3% = $2700 premium). At your age, I would expect a premium in the ballpar...
by BruDude
Sat Feb 18, 2017 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: 1.3 million dollars in debt
Replies: 36
Views: 8299

Re: 1.3 million dollars in debt

If you haven't done so already, obtain an individual disability insurance policy with maxed out benefits immediately. You'd be in a world of hurt if you became disabled and couldn't earn any income. I'd also look at a supplemental policy because the max you're going to get from any one company is go...
by BruDude
Tue Feb 14, 2017 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Selling no-longer-needed term life policies
Replies: 25
Views: 1788

Re: Selling no-longer-needed term life policies

Life settlement companies are only interested in policies that can be converted to permanent insurance, or already are permanent insurance. Based on the info posted, I don't think she would be a candidate for a life settlement. The best candidates are 65-75 years old, have a policy with a Standard o...
by BruDude
Tue Feb 14, 2017 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: term life insurance expiring
Replies: 5
Views: 503

Re: term life insurance expiring

Depends whether you want to provide a legacy or not, assuming you don't need it for other purposes. $18k/year sounds extremely high for 10 years of $1.6M coverage at age 60. A new policy would cost ~$7300/year for a Standard health rating, a Preferred/Preferred Plus rating would cost ~$3800-5000/yea...
by BruDude
Mon Feb 13, 2017 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance - major $$ difference between 2 agents
Replies: 6
Views: 648

Re: Term Life Insurance - major $$ difference between 2 agents

Tell me a little about your health, family medical history, history of smoking (or not), weight, and driving record, and I'll tell you which agent was lying to you. Both of us are in good health and we invest in our health. One of the parents on each side have diabetes and my another parent has hig...
by BruDude
Mon Feb 13, 2017 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Permanent Life Insurance
Replies: 16
Views: 1552

Re: Permanent Life Insurance

The agent needs to learn how to write a more professional email, that's for sure...
by BruDude
Mon Feb 13, 2017 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Life insurer with no credit rating? AAFMAA
Replies: 3
Views: 341

Re: Life insurer with no credit rating? AAFMAA

Seems like they cater to active duty military, which may not be insurable from other companies depending on their duties and foreign travel. If not active duty, there may be better options. Quotes are meaningless without an offer of coverage...so don't go based off of that alone. The health rating d...
by BruDude
Sun Feb 12, 2017 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Disability insurance future increase rider question
Replies: 7
Views: 442

Re: Disability insurance future increase rider question

I have self funded disability insurance that I obtained 8 years ago, and has about 20 years left. The current insurance provides $6000 a month benefit for $330 a month. Included in this is a future increase option of an additional $8000/month. If I exercise this option (now that my income has incre...
by BruDude
Fri Feb 10, 2017 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Payment Method for Private Used Car Sale
Replies: 43
Views: 2416

Re: Payment Method for Private Used Car Sale

Most banks will let you call and verify that funds for a cashiers check are good. I've bought all my cars with cashiers check or bank check when using a loan. If someone is financing, they're not going to have cash. Are you willing to give up a sale just to have a cash payment? Probably not. Just t...
by BruDude
Fri Feb 10, 2017 12:50 am
Forum: Personal Finance (Not Investing)
Topic: Payment Method for Private Used Car Sale
Replies: 43
Views: 2416

Re: Payment Method for Private Used Car Sale

Most banks will let you call and verify that funds for a cashiers check are good. I've bought all my cars with cashiers check or bank check when using a loan. If someone is financing, they're not going to have cash. Are you willing to give up a sale just to have a cash payment? Probably not. Just ta...
by BruDude
Thu Feb 09, 2017 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance - major $$ difference between 2 agents
Replies: 6
Views: 648

Re: Term Life Insurance - major $$ difference between 2 agents

They may have rated you differently as to your health. You won't know exactly what the health insurance would cost until you after the medical underwriting from the insurance company. See if the quotes use the same health category. One agent may be quoting preferred plus while the other agent is qu...
by BruDude
Thu Feb 09, 2017 4:29 am
Forum: Personal Finance (Not Investing)
Topic: Question about Disability Insurance Quote
Replies: 6
Views: 485

Re: Question about Disability Insurance Quote

1. Retirement Protection Plus is not a commonly sold rider. I have it on my own policy, but most people think the disability insurance is expensive enough without it and often opt to leave it out. I call this an "icing on the cake" rider - nice to have, but not as important to include as ...

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