Search found 269 matches

by pintail07
Wed Feb 21, 2018 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance
Replies: 111
Views: 4840

Re: Long term care insurance

LTC policies are one of the biggest sucker purchases out there. There are other legal ways to get around i. Find a good estate/asset protection attorney and protect yourself with a trust and you will get LTC free in almost any state. You must be joking? So your plan is to go Medicaid for your care....
by pintail07
Wed Feb 14, 2018 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15838

Re: free dinner investing seminar

I've had a few clients that attended one of these dinners and they peaked their interest in guaranteeing lifetime income, this is what most dinners are talking about that I have witnessed. I ask them for the information and then show them what immediate annuities offer, always better. That being sai...
by pintail07
Tue Feb 13, 2018 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15838

Re: free dinner investing seminar

I have attended several of these dinners over the years and free lodging and meals for a time share spill. I have always been courteous and listened to the presentations and asked questions then declined any follow up. Never a problem.
by pintail07
Thu Feb 01, 2018 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Indexed Universal Life Question
Replies: 15
Views: 981

Re: Indexed Universal Life Question

As an old mentor use to tell me about insurance illustration projections, the only thing this proves is that paper takes ink. Never base anything with insurance based on anything but guarantees. I am a 38year veteran of the business and would never ever recommend this product.
by pintail07
Mon Jan 29, 2018 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: April vacation for 2 families
Replies: 13
Views: 1054

Re: April vacation for 2 families

Naples, Marco Island, Sanibel, Captiva, and Noth Captiva.
by pintail07
Thu Jan 25, 2018 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Shall I buy LTC - fixed premium universal life insurance?
Replies: 30
Views: 1725

Re: Shall I buy LTC - fixed premium universal life insurance?

What if you never need the long term care? What if you only need a portion of the long term care? I feel that there is some change you may not need long term care, say around 10%. I feel that there is a good chance that you may only need a portion of the maximum payout of long term care, say 20%. N...
by pintail07
Thu Jan 25, 2018 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Time to get out of my $1 million Whole Life Policy?
Replies: 22
Views: 1546

Re: Time to get out of my $1 million Whole Life Policy?

There was a poster last year that had a similar issue as your's. I helped guide him through the process of sending certified letters to the agent, his manager and the president of the company. It took a couple of months but he was given a refund. No charge to the poster from me, graddis. It never sh...
by pintail07
Thu Jan 25, 2018 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Shall I buy LTC - fixed premium universal life insurance?
Replies: 30
Views: 1725

Re: Shall I buy LTC - fixed premium universal life insurance?

Indemnity plans are nice but more costly than reimbursement. Compare a stand alone plan, look at Mutual of Omaha or if you want lifetime benefits look at National Guardian.
by pintail07
Wed Jan 17, 2018 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable trust for primary residence
Replies: 12
Views: 964

Re: Irrevocable trust for primary residence

If a third party owns the house, if you still reside in the house I would think you would have to pay an arms length rent. I may be wrong but seems that way to me.
by pintail07
Fri Dec 15, 2017 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: LTC policy increase - keep, reduce coverage or ditch?
Replies: 18
Views: 1539

Re: LTC policy increase - keep, reduce coverage or ditch?

I would keep it. You are currently co insuring the risk. Revisit if you want to shift more of the risk.
by pintail07
Wed Nov 22, 2017 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance for Cancer Survivor
Replies: 1
Views: 397

Re: Insurance for Cancer Survivor

The principal at American Brokerage is the best in the business. He does hundreds of these a year. PM me if you want his contact information.
by pintail07
Wed Nov 22, 2017 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care policy advice
Replies: 9
Views: 828

Re: Long term care policy advice

A current policy from a competitive company, same benefits, annual premium 4300.
by pintail07
Wed Nov 22, 2017 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Limited Pay Life Insurance
Replies: 9
Views: 576

Re: Limited Pay Life Insurance

I couldn't agree more with the above. For kicks I ran some numbers on a second to die term to 105 and much better deal. Depending on current cash value and health it still may be a better deal. Find a broker that is experienced to give another view.
by pintail07
Wed Nov 22, 2017 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Limited Pay Life Insurance
Replies: 9
Views: 576

Re: Limited Pay Life Insurance

Perhaps if you had posted they asked you for your opinion we would understand. Don't get your panties in a wad it wasn't a snark remark. I am a life broker for decades but tough to give accurate information without much more information. Seems like they are doing just fine trying to pass additional ...
by pintail07
Wed Nov 22, 2017 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Limited Pay Life Insurance
Replies: 9
Views: 576

Re: Limited Pay Life Insurance

I would stay out of it unless they ask your opinion.
by pintail07
Sat Nov 18, 2017 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Risks of Non-ACA Compliant Health Insurance?
Replies: 66
Views: 3348

Re: Risks of Non-ACA Compliant Health Insurance?

FYI, the US Health Plans have dramatically changed, no longer a discount plan but a PPO 3-5000 deductible, 80/20 to max out of pocket of 5-7000, Cigna network.
by pintail07
Sat Nov 18, 2017 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Risks of Non-ACA Compliant Health Insurance?
Replies: 66
Views: 3348

Re: Risks of Non-ACA Compliant Health Insurance?

Petersen and National General have short-term plans with national PPO networks that can be extended for up to 12 months. You have to buy a 3-month policy and then it can be renewed up to 3 times. If you are diagnosed with a pre-ex condition during one of those periods, it will be covered in the fol...
by pintail07
Mon Nov 13, 2017 8:08 am
Forum: Personal Finance (Not Investing)
Topic: Growth of Medicare Advantage enrollment
Replies: 68
Views: 4416

Re: Growth of Medicare Advantage enrollment

My wife is a patient of the Clinic. Per one of her Doctors, while the Clinic may be rated #2 compared to Mayo, it will often accept patients all other hospitals (as your friend found out) won't treat and it, in fact, has on average, the sickest patients in the country. Your friend is quite lucky in...
by pintail07
Sun Nov 12, 2017 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Growth of Medicare Advantage enrollment
Replies: 68
Views: 4416

Re: Growth of Medicare Advantage enrollment

My resident state offers no MA PPO plans, what other states offer is really immaterial.
by pintail07
Sun Nov 12, 2017 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Growth of Medicare Advantage enrollment
Replies: 68
Views: 4416

Re: Growth of Medicare Advantage enrollment

While serious, an example of "anecdotal" story. I suspect you do not have all the details. Details would include: 1. Specific reason for denial? Issue is whether the denial was based on different rules for MA plan and Original medicare with supplement 2. Did anything change in the time? 3. Did he a...
by pintail07
Sun Nov 12, 2017 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Growth of Medicare Advantage enrollment
Replies: 68
Views: 4416

Re: Growth of Medicare Advantage enrollment

Saying someone is in a MA is like saying some flew in a plane, whether you are in coach or first class makes a difference in the level of service.
That was sort of a snarky remark. Are you suggesting if one is in a MA PPO they have access to any provider that accepts Medicare/
by pintail07
Sun Nov 12, 2017 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Growth of Medicare Advantage enrollment
Replies: 68
Views: 4416

Re: Growth of Medicare Advantage enrollment

Have a good friend on this areas most popular MA plan. Needed a double lung transplant. The networks most qualified provider turned him down, and gave him 6 months to live. He "moved' to outside the area and enrolled in regular medicare and supplement. Was evaluated at Duke and Cleveland Clinic. Cle...
by pintail07
Sun Nov 12, 2017 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Growth of Medicare Advantage enrollment
Replies: 68
Views: 4416

Re: Growth of Medicare Advantage enrollment

The larger network regular medicare and supplement offers for my and DS needs are well worth the extra premiums. If my budget was tight I understand using MA and their narrower networks.
by pintail07
Sat Nov 11, 2017 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance Options
Replies: 8
Views: 996

Re: Long Term Care Insurance Options

The feature is called non forfeiture and it will stay with the policy. The question is do you need the coverage. LTC coverage is expensive because care is expensive. Compare your rates with a new policy and you will see you still have a very competitive policy.
by pintail07
Thu Nov 09, 2017 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Medigap policy cost
Replies: 68
Views: 35388

Re: Medicare Medigap policy cost

Brokers are paid substantial fees by the plans they sign people up for. So they have an incentive to choose plans depending on how much they are paid by the plan. A few agents may be like that but they rarely last a long time. Premiums are the same whether you buy direct from an insurer versus from...
by pintail07
Thu Nov 09, 2017 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Medigap policy cost
Replies: 68
Views: 35388

Re: Medicare Medigap policy cost

My wife and I have been with MOO for 3 years, no rate increases, paid lots of benefits, couldn't be happier.
by pintail07
Fri Oct 27, 2017 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Premier Choice being suggested by agent for health insurance
Replies: 21
Views: 12604

Re: Premier Choice being suggested by agent for health insurance

Ask for a sample policy and one for the stop loss rider. Post it here if you get one, bet you won't.
by pintail07
Wed Oct 25, 2017 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2978

Re: Whole Life Policy Analysis

The big mutual, Northwestern, New York Life and others are the ones flooding the market with these agents.
by pintail07
Wed Oct 25, 2017 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy Analysis
Replies: 53
Views: 2978

Re: Whole Life Policy Analysis

Very difficult for some folks to look past the title of Whole Life. Similar to discounting the value of asset based LTC/ Whole Life, guaranteed returns on an older "whole Life" plans are equally discounted.
by pintail07
Wed Oct 25, 2017 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 ACA rates now live....
Replies: 228
Views: 16431

Re: 2018 ACA rates now live....

Where do subsidies come from? If 80% of people on the ACA receive subsidies, it really is a government plan.
by pintail07
Mon Oct 23, 2017 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: FIL Stage 4 Cancer - Next steps
Replies: 28
Views: 3377

Re: FIL Stage 4 Cancer - Next steps

Insist he enroll in the ACA during open enrollment.
by pintail07
Sat Oct 21, 2017 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: What to do: Financial Advisor for Trust Breaching Fiduciary Duty
Replies: 14
Views: 1617

Re: What to do: Financial Advisor for Trust Breaching Fiduciary Duty

This really falls on the trustee. Research carefully, then research some more.
by pintail07
Thu Oct 19, 2017 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 36
Views: 2024

Re: Whole Life Insurance

Based on current information I would be hesitant surrendering policy unless parents are planning on investing aggressively. Seems like at least for this year they are getting about a 5% return. I would review every year and wait till I see a downturn in yield.
by pintail07
Thu Oct 19, 2017 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance
Replies: 36
Views: 2024

Re: Whole Life Insurance

What is the current cash value?
by pintail07
Tue Oct 17, 2017 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Help picking apart whole life insurance cash value
Replies: 39
Views: 2043

Re: Help picking apart whole life insurance cash value

To understand dividends, one must consider the underlying assets in the reserves. Each year older assets (like 30 year treasuries) with higher yields are maturing and being replaced with much lower yields. So, dividends could be eschewed by the benefit of older assets are yielding higher returns. It...
by pintail07
Tue Oct 17, 2017 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Help picking apart whole life insurance cash value
Replies: 39
Views: 2043

Re: Help picking apart whole life insurance cash value

You seem to be convinced. You should go forward with your plan.
by pintail07
Tue Oct 17, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Premier Choice being suggested by agent for health insurance
Replies: 21
Views: 12604

Re: Premier Choice being suggested by agent for health insurance

I have two nephews that sell the product and tried to show them my concerns. They are making so much money it clouds their decision. They tell me they are overwhelmed with business and it isn't even OEP. They have a typical monthly premium of 400, they get 25%, 100 and then get the whole commission ...
by pintail07
Tue Oct 17, 2017 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: Premier Choice being suggested by agent for health insurance
Replies: 21
Views: 12604

Re: Premier Choice being suggested by agent for health insurance

You must really understand all the moving parts. Their biggest problem is the agents. They lie about everything. You can have rider that you can exercise that limits out of pocket to 5000. However, you will have an additional premium of the lowest cost bronze plan you must pay till end of year then ...
by pintail07
Tue Oct 17, 2017 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Help picking apart whole life insurance cash value
Replies: 39
Views: 2043

Re: Help picking apart whole life insurance cash value

You seem to be trying to hard to justify the WL????
by pintail07
Tue Oct 17, 2017 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Protecting modest assets (house/IRA) from Medicaid/taxes
Replies: 9
Views: 869

Re: Protecting modest assets (house/IRA) from Medicaid/taxes

Why even consider using Medicaid with her house and IRA? If care is needed don't just rely on Medicaid, let her have the best care available until it runs out then use Medicaid. Does SHE want to rely on Medicaid? Has she visited facilities that accept Medicaid and compared that with private pay only...
by pintail07
Tue Oct 17, 2017 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Help picking apart whole life insurance cash value
Replies: 39
Views: 2043

Re: Help picking apart whole life insurance cash value

The agent makes between 80-100% commission on first year premium. Only look at what is guaranteed. I am a broker and haven't shown a whole life policy in 30 years.
by pintail07
Mon Oct 16, 2017 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage
Replies: 1
Views: 286

Medicare Advantage

Does Medicare advantage plans cover the co pay for the 80 days of facility care like a supplement does?
by pintail07
Sat Oct 14, 2017 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Help me understand what happens with the new law and ACA subsidies
Replies: 80
Views: 6674

Re: Help me understand what happen with the new law and ACA subsidies

That is not really a good option. Years ago when even an employer provided plan would exclude preexisting conditions I know someone that took a new job and about a year later they had a small growth in their nose that the doctor did a routine biopsy of to see if it was cancer. The insurance company...
by pintail07
Sat Oct 14, 2017 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Help me understand what happens with the new law and ACA subsidies
Replies: 80
Views: 6674

Re: Help me understand what happen with the new law and ACA subsidies

And for those of us who prefer to be self-employed, the choices are? I've bought my own health insurance my entire adult life, because I've never had a job. I was doing this well before the ACA. So if I'm pushed out of the federal Marketplace, are insurers even offering private plans any more? Is t...
by pintail07
Thu Oct 12, 2017 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Amazon survey scam
Replies: 4
Views: 930

Amazon survey scam

Beware of receiving an email asking for you to take a survey and receiving a free gift, total scam.
by pintail07
Sun Oct 08, 2017 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Question About Long Term Care
Replies: 75
Views: 6945

Re: Question About Long Term Care

Find a broker that will show you all options from many companies
by pintail07
Fri Oct 06, 2017 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Question About Long Term Care
Replies: 75
Views: 6945

Re: Question About Long Term Care

Compare the cost to wait combined with the risk of a change in insurability.
by pintail07
Fri Oct 06, 2017 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Question About Long Term Care
Replies: 75
Views: 6945

Re: Question About Long Term Care

The life insurance amount is small, enough to return the deposit if not used
by pintail07
Thu Oct 05, 2017 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Question About Long Term Care
Replies: 75
Views: 6945

Re: Question About Long Term Care

Please note that my opinions are just that - uninformed opinions. My only experience with this area is with previously helping a close family member with an LTCI decision. I feel that some sellers have the potential to focus on calculating their commissions too much and don't spend enough time seei...
by pintail07
Thu Oct 05, 2017 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Question About Long Term Care
Replies: 75
Views: 6945

Re: Question About Long Term Care

Average stay is 835 days according to National Care Council. In addition, 80 per cent of LTC claims are not for nursing homes. People usually start off at home then to assisted living before ending up in a nursing home,