Search found 2129 matches

by BruDude
Tue Jan 26, 2016 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Decreasing term life insurance linked to inflation?
Replies: 20
Views: 814

Re: Decreasing term life insurance linked to inflation?

I want life insurance so that, if I die, my kids will be taken care of. What I really want is income replacement until my kids are out of college and financially independent. Since the amount of income that needs to be replaced goes down over time, it seems like decreasing term life insurance is wh...
by BruDude
Sat Jan 23, 2016 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Do we need disability insurance
Replies: 24
Views: 1547

Re: Do we need disability insurance

IMO this is a no-brainer. Get solid own-occupation disability insurance. When you have a sizable nest egg and want to self-insure against disability you can reconsider, but right now with the debt and lack of a nest egg you both need DI end of story. Sure you could life off one of your salaries, bu...
by BruDude
Fri Jan 22, 2016 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Do we need disability insurance
Replies: 24
Views: 1547

Re: Do we need disability insurance

What percentage of income are they quoting you? The numbers between the policies are a bit different, but generally we are looking at $12,000 monthly income for a bit over $8,000 in yearly premiums. So that comes out to 5.5%, if I'm not mistaken. I tried to get one her current partners (she has a f...
by BruDude
Thu Jan 21, 2016 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Do we need disability insurance
Replies: 24
Views: 1547

Re: Do we need disability insurance

Disability insurance is contentious, especially for well educated, high income people. The problem is a conflict between the parties over defining a disability. The insurance company may be as restrictive as possible, claiming that if you can earn an income (and many people with disabilities are ab...
by BruDude
Tue Jan 19, 2016 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Planning For Future Estate Taxes
Replies: 18
Views: 1463

Re: Planning For Future Estate Taxes

They can purchase a second-to-die permanent life insurance policy which as the name implies, only pays out upon the death of the second insured person. Since the second death would trigger the estate tax, the funds would be used to pay off the estate tax bill. The policy would be placed in an irrevo...
by BruDude
Mon Jan 11, 2016 6:22 am
Forum: Personal Finance (Not Investing)
Topic: Should I keep my term life insurance in force?
Replies: 22
Views: 1785

Re: Should I keep my term life insurance in force?

ESPlanner says I don't need any life insurance, and that we could be spending more than our current budget. I'm sure my premature death would be a financial hardship for my wife Does not compute. I'm guessing your planner also would not fork out $500k tax-free to your wife in the event of your deat...
by BruDude
Mon Jan 04, 2016 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: AMA Life & Disability Insurance
Replies: 10
Views: 1756

Re: AMA Life & Disability Insurance

Sorry to dig up this old thread, but do you still have that comparison image? Im doing that comparison right this moment! Below is a summary I created showing the side-by-side differences between a Guardian individual DI policy and the AMA policy. I use Guardian for these comparisons since they hav...
by BruDude
Fri Dec 18, 2015 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Disability income insurance questions
Replies: 3
Views: 247

Re: Disability income insurance questions

Your group disability insurance policy probably does not cover what you think it covers. Common problems/missing pieces seen often on group DI policies: 1. True own-occupation definition of disability is usually limited to 2 years (can be through age 65-70 on an individual policy) 2. No partial disa...
by BruDude
Tue Dec 15, 2015 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance - need advice.
Replies: 8
Views: 802

Re: Life insurance - need advice.

Yes this is possible, sounds like a guaranteed no-lapse universal life policy paid with a lump sum transfer from the existing policy. A few questions: 1. Why is the adviser suggesting the change? 2. Does your father no longer want to pay premiums? 3. Did the adviser provide an in-force illustration ...
by BruDude
Mon Dec 14, 2015 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance
Replies: 48
Views: 4519

Re: Life Insurance

My broker was able to find another underwriter called Mutual of Omaha. It works like this: - the policy lasts until I'm 67 - 90 day elimination period - $1850/year premium - $6500/month payout - $2.5M max payout How does that sound to you guys? I'm told the benefit would be payable in the future ev...
by BruDude
Mon Dec 14, 2015 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: EIUL for long term trust
Replies: 1
Views: 142

Re: EIUL for long term trust

Why not just set up a guaranteed UL policy with a specified death benefit as a legacy to leave the grandkids instead? It will be a heck of a lot less complicated and probably a lot less expensive...
by BruDude
Sat Dec 12, 2015 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance on Sick parent?
Replies: 23
Views: 1501

Re: Life insurance on Sick parent?

Best case scenario he'll get Table 8 smoker rates, which are going to be really expensive. In all likelihood he is uninsurable if he's still smoking. Had a similar case the other day, guy kept asking me to just give him a price (which I can't really do with that health hsitory), so I just said "...
by BruDude
Thu Dec 10, 2015 12:23 am
Forum: Personal Finance (Not Investing)
Topic: life insurance for ex-wife
Replies: 53
Views: 4640

Re: life insurance for ex-wife

Again, file a death claim. If denied see if a lawyer thinks you have a case. See link for a little case law on the topic. Nothing black and white, especially with a jury. http://www.divorcesource.com/research/edj/life/99oct109.shtml x2, can't hurt to file it even though it will almost certainly get...
by BruDude
Wed Dec 09, 2015 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Am I overlooking something? Free life insurance for a year
Replies: 23
Views: 2111

Re: Am I overlooking something? Free life insurance for a year

What he's doing is probably illegal rebating and against the terms of his contract with the insurance company, but that's not really your problem.
by BruDude
Tue Dec 08, 2015 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: A car nicer than the boss?
Replies: 169
Views: 11182

Re: A car nicer than the boss?

Every time I read about a Maserati, it's about how junky they are for such an expensive car. I'd pass.
by BruDude
Tue Dec 08, 2015 11:41 am
Forum: Personal Finance (Not Investing)
Topic: A car nicer than the boss?
Replies: 169
Views: 11182

Re: A car nicer than the boss?

The new S class coupe is one incredibly sexy car and much lower profile than a Bentley. Probably better in almost every aspect than a used Bentley too. Nice choice. I would have voted for a Panamera Turbo or GTS. I actually looked at a 911 Turbo at the same time I looked at the Bentley and R8. I di...
by BruDude
Tue Dec 08, 2015 2:49 am
Forum: Personal Finance (Not Investing)
Topic: A car nicer than the boss?
Replies: 169
Views: 11182

Re: A car nicer than the boss?

The new S class coupe is one incredibly sexy car and much lower profile than a Bentley. Probably better in almost every aspect than a used Bentley too. Nice choice. I would have voted for a Panamera Turbo or GTS.
by BruDude
Tue Dec 08, 2015 1:21 am
Forum: Personal Finance (Not Investing)
Topic: Should I buy long-term disability insurance?
Replies: 10
Views: 1104

Re: Should I buy long-term disability insurance?

Long-time lurker here. I just started a new job and am debating whether to enroll in my employer's long-term disability plan. Right now, I'm leaning toward doing so, but I'm wondering if there's anything I'm missing. The monthly cost would be about $50, and the monthly benefit would be about $8,500...
by BruDude
Tue Dec 08, 2015 1:16 am
Forum: Personal Finance (Not Investing)
Topic: How important is Supplementary Long Term Disability Insurance?
Replies: 3
Views: 400

Re: How important is Supplementary Long Term Disability Insurance?

Hi I have LTDI through my company. I pay $80+ per month and covered 50% of the salary until 65 years old. Bonuses or yearly increases are not included in that which is reasonable, I think. Unum company is pitching this to employees through the HR to have supplementary LTD to increase 10-15%. Is it ...
by BruDude
Tue Dec 08, 2015 1:08 am
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 5
Views: 452

Re: Disability Insurance

You have to read the exact policy to compare them. Until you compare the wording side-by-side, you won't know exactly what you are getting. Principal (unlike Guardian) does offer unisex rates that can save females a lot of money, as disability insurance typically costs more for females. That said, ...
by BruDude
Tue Dec 08, 2015 1:04 am
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance
Replies: 5
Views: 452

Re: Disability Insurance

Hi all, I'm a 47 year old female ER doctor with a long term disability policy that I got while in residency that costs me $440/ mo for $5150/mo of coverage. It's through Guardian. I also get $8000/mo (taxable) and $1000/mo (non-taxable) of long term disability through work. No short term. A broker ...
by BruDude
Fri Dec 04, 2015 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Friend of the family having difficult time
Replies: 21
Views: 4769

Re: Friend of the family having difficult time

This sounds like the perfect case for a life settlement. Large death benefit, low premiums, insured person in very poor health, owner can no longer afford the policy....as long as the policy is still convertible to permanent coverage, she could probably get a pretty substantial settlement out of it...
by BruDude
Fri Dec 04, 2015 1:09 am
Forum: Personal Finance (Not Investing)
Topic: life insurance for ex-wife
Replies: 53
Views: 4640

Re: life insurance for ex-wife

He would have to make his plan choices for benefits each year so I'm not quite sure I would believe that he had no idea, but that's a different story.
by BruDude
Fri Dec 04, 2015 12:05 am
Forum: Personal Finance (Not Investing)
Topic: life insurance for ex-wife
Replies: 53
Views: 4640

Re: life insurance for ex-wife

He's not going to get anywhere. The coverage would be for a spouse only.
by BruDude
Thu Dec 03, 2015 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Friend of the family having difficult time
Replies: 21
Views: 4769

Re: Friend of the family having difficult time

This sounds like the perfect case for a life settlement. Large death benefit, low premiums, insured person in very poor health, owner can no longer afford the policy....as long as the policy is still convertible to permanent coverage, she could probably get a pretty substantial settlement out of it ...
by BruDude
Sun Nov 29, 2015 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance
Replies: 48
Views: 4519

Re: Life Insurance

Is there a specific reason the agent quoted you a policy with Petersen? They are normally used when someone has a high-risk job that other companies won't consider or as a supplemental plan for people with $300k+ incomes. Their policies have to be renewed every 5 years and are subject to further un...
by BruDude
Thu Nov 19, 2015 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Disability Insurance
Replies: 4
Views: 677

Re: Long Term Disability Insurance

My employer just pay for 100% of the premium, no option to opt out. If you are in my situation, would you purchase a good individual policy? What are some of the good providers for individual LTDI? I would max out all individual options available, but it's going to be difficult to get much of anyth...
by BruDude
Thu Nov 19, 2015 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Disability Insurance
Replies: 4
Views: 677

Re: Long Term Disability Insurance

No residual, COLA, conversion, or portability options is pretty bad. If you leave the employer, you could be screwed because not only may you be less healthy and/or uninsurable at that point, but the rates would be significantly higher just based on age alone. The 24-month limitations on some benefi...
by BruDude
Fri Nov 13, 2015 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Worst night of my life [personal loan or cash out IRA to pay gambling debt]
Replies: 126
Views: 10959

Re: Worst night of my life [personal loan or cash out IRA to pay gambling debt]

If you were clearly blackout drunk then you may have a case against the casino for continuing to serve you and allowing you to gamble in that state. They are supposed to cut you off and stop you from gambling if you are clearly impaired beyond control. They have cameras everywhere, it should not be ...
by BruDude
Tue Nov 10, 2015 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: Help Selecting First Health Insurance Plan
Replies: 4
Views: 395

Re: Help Selecting First Health Insurance Plan

HSA plan is a no brainer with those numbers
by BruDude
Mon Nov 09, 2015 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Mandatory employer provided long term DI preventing purchase of individual DI?
Replies: 8
Views: 628

Re: Mandatory employer provided long DI preventing purchase of individual DI?

I am in the process of purchasing individual long DI. I am located in MA, but my employer is primarily based in CA although it is a distributed company with half of the employees located all over the world. My employer provides a group policy that they pay for, but it is modified own occupation aft...
by BruDude
Mon Nov 09, 2015 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Offering Health Insurance Premiums to Employees - Taxation
Replies: 4
Views: 408

Re: Offering Health Insurance Premiums to Employees - Taxation

Has the group looked into self-funded plans with a stop-loss? Often a good alternative to fully-insured plans depending on the area/industry and overall health of the group. This is what we've had the past few years with a single random extraordinarily high claims individual each year. This year re...
by BruDude
Mon Nov 09, 2015 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Offering Health Insurance Premiums to Employees - Taxation
Replies: 4
Views: 408

Re: Offering Health Insurance Premiums to Employees - Taxation

Is there a way to provide employees a dollar stipend to buy health insurance on their own in the open market or through the exchanges (or other health related services) that is not taxable to the employee as a benefit? Is offering an employer purchased group health plan the only way that this cost ...
by BruDude
Mon Nov 09, 2015 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Healthcare - Low 30's Couple
Replies: 14
Views: 2804

Re: Healthcare - Low 30's Couple

Your employer is risking some major fines by giving the employees $5k/year for health insurance: https://www.irs.gov/Affordable-Care-Act/Employer-Health-Care-Arrangements Q1. What are the consequences to the employer if the employer does not establish a health insurance plan for its own employees, b...
by BruDude
Fri Nov 06, 2015 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: 401K Disability Insurance - worth it?
Replies: 5
Views: 246

Re: 401K Disability Insurance - worth it?

Depends on the cost and details. A regular disability insurance policy should probably be purchased before doing one of these.
by BruDude
Fri Nov 06, 2015 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Desperate - Overwhelmed by health insurance choices
Replies: 21
Views: 1299

Re: Desperate - Overwhelmed by health insurance choices

All of the plans have unlimited benefits and capped out of pocket maximums, otherwise they wouldn't be ACA-compliant. Some of the plans have an unlimited out-of-pocket maximum when you are out of network, but not while in network. It's the unlimited out-of-pocket maximum when out of network that co...
by BruDude
Fri Nov 06, 2015 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Desperate - Overwhelmed by health insurance choices
Replies: 21
Views: 1299

Re: Desperate - Overwhelmed by health insurance choices

All of the plans have unlimited benefits and capped out of pocket maximums, otherwise they wouldn't be ACA-compliant. Some of the plans have an unlimited out-of-pocket maximum when you are out of network, but not while in network.
by BruDude
Fri Nov 06, 2015 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Desperate - Overwhelmed by health insurance choices
Replies: 21
Views: 1299

Re: Desperate - Overwhelmed by health insurance choices

Thanks for all the great replies. Keep them coming please. For clarification...I have already decided which plan to use, as it is the one that gives me great access to doctors that I use, plus it is affiliated with a University Hospital. I asm struggling with which level to buy. Thanks! Depends on ...
by BruDude
Wed Nov 04, 2015 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Healthcare Sharing Ministry A No Brainer?
Replies: 53
Views: 4771

Re: Healthcare Sharing Ministry A No Brainer?

I know this post is a few months old but I would like to ask a question. If a person had a heart attack would a Healthcare Sharing Ministry cover it? My family has a history of heart attacks. If you were me would get a : Healthcare Sharing Ministry or an insurance company to cover you? The sharing ...
by BruDude
Tue Nov 03, 2015 3:17 am
Forum: Personal Finance (Not Investing)
Topic: WA State Ins Exchange (Obamacare)
Replies: 21
Views: 1238

Re: WA State Ins Exchange (Obamacare)

http://kff.org/health-reform/state-indi ... -care-act/

According to this, Washington expanded Medicaid. Not sure what their rules on immigration/eligibility are outside of income though.
by BruDude
Tue Nov 03, 2015 3:14 am
Forum: Personal Finance (Not Investing)
Topic: Cheapest decent health insurance options in Texas?
Replies: 16
Views: 1409

Re: Cheapest decent health insurance options in Texas?

Don't count on finding many (if any) PPOs here in Texas though. I'm in the same boat as the OP and I can only find one PPO in Texas (Scott & White), and their network doesn't include my doctor. Many companies cancelled their PPOs in Texas for 2016. Let me know what you end up finding. I may hav...
by BruDude
Tue Nov 03, 2015 3:11 am
Forum: Personal Finance (Not Investing)
Topic: WA State Ins Exchange (Obamacare)
Replies: 21
Views: 1238

Re: WA State Ins Exchange (Obamacare)

How does this process expect a person like this to pay this kind of monthly fee for insurance? It's affordable, says so right there in the title of the law :greedy At her age, $400+/month is the norm, very difficult situation for someone with no income in a state that didn't expand Medicaid or when...
by BruDude
Mon Nov 02, 2015 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Should I withdraw my life insurance application?
Replies: 22
Views: 2407

Re: Should I withdraw my life insurance application?

Thanks for the responses. The insurance company is Transamerica. The brokerage is Zander. Zander did provide estimates from several companies when we started this process. Transamerica had the most competitive quote at $77/month, so I made my application with them. Again, my history of cancer was d...
by BruDude
Mon Nov 02, 2015 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Should I withdraw my life insurance application?
Replies: 22
Views: 2407

Re: Should I withdraw my life insurance application?

Update : I received a call from the insurance brokerage today. The underwriters are telling them my premium would be $500+/month (original estimate was $77/month) for the first year of the policy. (It will reduce to $100+/month after that.) According to the rep, this rate is not based on my blood t...
by BruDude
Mon Nov 02, 2015 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: New Baby & Life Planning
Replies: 15
Views: 1553

Re: New Baby & Life Planning

Congrats on the baby. 20-year, 25-year, or 30-year term life insurance would be a good start. I would also suggest looking into an individual disability insurance policy - if you became disabled and could not earn your income, how would the family be supported?
by BruDude
Mon Nov 02, 2015 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance - How to evaluate a factor?
Replies: 8
Views: 556

Re: Health Insurance - How to evaluate a factor?

In general, HMO's will have lower negotiated pricing for the same services as PPO's. However, there is no possible way to evaluate what you are asking because you don't have access to the negotiated rates of every insurance company for every possible claim code. In fact, you have access to none of t...
by BruDude
Mon Nov 02, 2015 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Cheapest Obamacare health plan option?
Replies: 25
Views: 2285

Re: Cheapest Obamacare health plan option?

For us, the cheapest plan is $215/month for a $6800+ deductible (same as OOPM). That was too expensive. If you're religious, I'd recommend a health care sharing ministry like CHM or Liberty HealthShare. If not, I have no idea what else to do. My wife has a $45/month plan from CHM. Mine is through m...
by BruDude
Wed Oct 28, 2015 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Seeking life insurance advice
Replies: 10
Views: 650

Re: Seeking life insurance advice

I got the max supplemental life insurance that my employer offered. My wife got the max that her employer offered too. Ours hardly had any medical checks etc. We both got the max supplemental AD&D provided by our respective employers as well. I recollect doing some basic term life comparisons a...
by BruDude
Tue Oct 27, 2015 10:53 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Premium for 2016
Replies: 70
Views: 6053

Re: Health Insurance Premium for 2016

ChrisMD wrote:BC/BS Missouri 57% increase for 2016


Seems reasonable :shock:

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