Search found 375 matches

by pintail07
Sat Aug 17, 2019 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 14978

Re: Long-Term Care Decision

Using basis points can be very valuable in determining the major or minor impact premiums will have on total income. Recently had a client with over 3,000,000 of passive income. In his case his premium of 8000 is less than 1 basis point, irrelevant in his opinion. Potential payout of 300 per day at ...
by pintail07
Wed Aug 14, 2019 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 14978

Re: Long-Term Care Decision

Most financial advisers farm out their long term care and disability insurance issues. I understand that makes sense if they think you need it. If they didn't think we needed it, shouldn't they have said so, being in a fiduciary capacity and all? (In fairness, they were looking at a slightly smalle...
by pintail07
Wed Aug 14, 2019 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 14978

Re: Long-Term Care Decision

Most financial advisers farm out their long term care and disability insurance issues.
by pintail07
Tue Aug 13, 2019 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 14978

Re: Long-Term Care Decision

The question is not if it is taught in "sales tactics 101', but was the statement true or false. Totally true IMO.
by pintail07
Tue Aug 13, 2019 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 14978

Re: Long-Term Care Decision

As a broker for almost 40 years WOW's information is almost always spot on, he is one of the most knowledgeable brokers in the country. One might not like how he delivers his information. My experience is that folks that haven't personally experienced the struggle of long term care, very difficult f...
by pintail07
Sun Aug 11, 2019 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 14978

Re: Long-Term Care Decision

So sorry I offended you.
by pintail07
Sun Aug 11, 2019 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 14978

Re: Long-Term Care Decision

If the claim lasts longer than a few months it patently true. According to Genworth , the longest coverage period they will offer to people in our state (WA) is 5 years. Multiplied by the maximum daily maximum benefit of $300, that's $547,500 per person of maximum coverage. That would not at all be...
by pintail07
Sun Aug 11, 2019 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 14978

Re: Long-Term Care Decision

If the claim lasts longer than a few months it patently true.
by pintail07
Sun Aug 11, 2019 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 14978

Re: Long-Term Care Decision

Without a doubt self insuring is the most economical way until one goes on claim. After just a few months on claim one reclaims all premiums. The very wealthy grasp this concept.
by pintail07
Wed May 22, 2019 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance requires net worth + tax returns
Replies: 8
Views: 1302

Re: Life insurance requires net worth + tax returns

I write a substantial amount of business with Lincoln National and their application for term insurance is not that lengthy. As mentioned, face amount must be over 5,000,000 or business insurance. Just did a policy for 6 million on 62 year old and no tax returns required buy they did ask for a finan...
by pintail07
Sat May 11, 2019 3:34 pm
Forum: Personal Consumer Issues
Topic: Goodman HVAC System
Replies: 21
Views: 2072

Re: Goodman HVAC System

Just recently had a 5ton Carrier heat and and ac unit installed, split system for 3500 sq ft home, 6200.
by pintail07
Tue Apr 30, 2019 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Why I don't think I should get long term care insurance right now
Replies: 164
Views: 10928

Re: Why I don't think I should get long term care insurance right now

WARNING, make sure you REALLY understand the total costs of these hybrid policies. Rarely does the agent explain the increase costs with a claim that might happen 20-25 years down the road. Might be required to pay that additional 200,000.
by pintail07
Mon Apr 29, 2019 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Why I don't think I should get long term care insurance right now
Replies: 164
Views: 10928

Re: Why I don't think I should get long term care insurance right now

Northwestern has one of the most expensive plans available. I sell LTC and show clients the rates of all companies. You need to speak with an independent broker. I rarely suggest 5% inflation, stay at 3%.
by pintail07
Mon Apr 15, 2019 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance strategy for single parent
Replies: 10
Views: 621

Re: Life insurace strategy for single parent

Make sure to evaluate any disability coverage as well.
by pintail07
Thu Apr 04, 2019 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Person to evaluate whole life policies
Replies: 6
Views: 631

Re: Person to evaluate whole life policies

Many experienced independent agents could perform this service but it would cost more than Mr. Hunt charges.
by pintail07
Mon Mar 11, 2019 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life - We're doing it. What to look for?
Replies: 131
Views: 10162

Re: Whole Life - We're doing it. What to look for?

I have been an independent broker for 35 years. Best advice I could give is find an independent broker and let him submit her information to many different companies for options. Many many medical issues can be covered. I would offer to pay the broker a fee for his services to be waived if you buy a...
by pintail07
Thu Mar 07, 2019 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Universal Life without cash value accumulation
Replies: 22
Views: 1358

Re: Universal Life without cash value accumulation

I think folks still are confused. View it simply as a term to age whatever. This is by far the best optiom for people that want coverage for life. I delivered a 10 million policy like this yesterday. Estate equalization issues.
by pintail07
Tue Mar 05, 2019 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Universal Life without cash value accumulation
Replies: 22
Views: 1358

Re: Universal Life without cash value accumulation

If you bought a no lapse universal life to 95 premiums and death benefits cannot change during the period. As a life broker, compare rates for to age 105 , usually very little difference to extend to 105.
by pintail07
Sun Feb 17, 2019 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Is Long Term Care Insurance worth it?
Replies: 318
Views: 13568

Re: Is Long Term Care Insurance worth it?

All types of insurance have rate increases. It would be nice if all our insurance was guaranteed to never increase but that is a fairy tale.
by pintail07
Fri Jan 11, 2019 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance policy
Replies: 140
Views: 4951

Re: Long term care insurance policy

Penn Treaty and Conseco are the poster boys for how to not run a company. Those of us that watched them take cases that no one else would take predicted the chickens would come home to roost.
by pintail07
Fri Jan 11, 2019 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance policy
Replies: 140
Views: 4951

Re: Long term care insurance policy

Self insuring is great as long as you never need care. If you need care it only takes a few months to recoup all premiums. Get a long term care specialist to review your options. Most of us will show you your options using a screen sharing program.
by pintail07
Wed Jan 09, 2019 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance when I have heart disease
Replies: 13
Views: 1123

Re: Life insurance when I have heart disease

Modest plague buildup isn't necessarily a deal breaker for new life insurance.
by pintail07
Thu Nov 22, 2018 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: 12 Month Short-Term Health Insurance
Replies: 21
Views: 1297

Re: 12 Month Short-Term Health Insurance

National General only looks back 12 months for pre existing conditions.
by pintail07
Wed Nov 07, 2018 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term Care Insurance
Replies: 184
Views: 9783

Re: Long-term Care Insurance

Does her doctor say she needs care? If so, most policies will pay. I have been involved with many claims and NEVER had any issues. Just had a client go on claim and they had been paying for home care, they didn't realize that their policy didn't require a waiting period, payment from first day. For ...
by pintail07
Thu Nov 01, 2018 6:20 pm
Forum: Personal Consumer Issues
Topic: Thanksgiving vacation suggestions
Replies: 9
Views: 1325

Re: Thanksgiving vacation suggestions

Gatlinburg Tennessee area.
by pintail07
Sat Oct 20, 2018 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term Care Insurance
Replies: 184
Views: 9783

Re: Long-term Care Insurance

To be fair, shouldn't you take your parents to visit private pay facilities and medicaid/private pay ones? Are you certain they might not want to stay at home, have you seen what Medicaid pays for home care? I often see more children recommending their parents use Medicaid, is that to protect their ...
by pintail07
Sat Oct 20, 2018 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term Care Insurance
Replies: 184
Views: 9783

Re: Long-term Care Insurance

On the other hand, as we've discussed here on several occasions. most of the policies cover the first few years of care. That's in the nature of a prepaid expense since many people will need care for up to a few years. What's really needed is a policy that pays for an unlimited duration, but not for...
by pintail07
Wed Oct 17, 2018 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term Care Insurance
Replies: 184
Views: 9783

Re: Long-term Care Insurance

Because in most low cost of living areas the two are one in the same -- private pay people can sometimes be living right next door to a Medicaid person. There is no difference in the care. And people do not want to spend down all of their assets on a nursing home. Top You are correct regarding a fa...
by pintail07
Wed Oct 17, 2018 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Long-term Care Insurance
Replies: 184
Views: 9783

Re: Long-term Care Insurance

It is really confusing to me as to why someone would want to plan on having to use Medicaid facilities versus private pay facilities. I want more options not less options.
by pintail07
Fri Oct 12, 2018 8:18 am
Forum: Personal Finance (Not Investing)
Topic: KaiZen Life Policy
Replies: 30
Views: 6142

Re: KaiZen Life Policy

As an insurance broker for several decades never ever saw any permanent insurance plan I would recommend as an investment tool. Why not post some actual numbers and convince us how it is so special.
by pintail07
Sat Oct 06, 2018 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Need Health Insurance (Non-ACA Options)
Replies: 80
Views: 5948

Re: Need Health Insurance (Non-ACA Options)

Wonderful option if you are healthy and don't have a totally unexpected complicated herniated L4 disc that ended in a spinal fusion. ... Like I did this year. My advice...don't risk your assets or quality of care. Changes everything...still. Top Was it a pre existing condition as in you mentioned s...
by pintail07
Fri Oct 05, 2018 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: More Life Insurance?
Replies: 8
Views: 732

Re: More Life Insurance?

If you added up your retirement plan and other investments, how much income would that produce if something happened to you today. Assume she could withdraw 4% per year of that amount. Would that be adequate without burning through capital?
by pintail07
Fri Oct 05, 2018 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Insurance Ownership Change - Tax Implications?
Replies: 3
Views: 389

Re: Whole Life Insurance Ownership Change - Tax Implications?

Why would you be the owner? The estate would own the policy and would pass according to the will is what I would presume.
by pintail07
Thu Oct 04, 2018 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Question
Replies: 11
Views: 1539

Re: Medicare Question

Get a copy of the policy or a summary of benefits. Read the section regarding in patient rehab. Many of these plans offer 60 days as the benefit.
by pintail07
Thu Oct 04, 2018 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Need Health Insurance (Non-ACA Options)
Replies: 80
Views: 5948

Re: Need Health Insurance (Non-ACA Options)

Not an expert in insurance, so forgive these ignorant questions: (1) What is a "short term" plan? Who offers them? Are there examples? (I'm aware of the ACA, of course, and the faith-based alternatives.) (2) I wasn't aware that "brokers" existed who offer assistance on health insurance matters. How...
by pintail07
Wed Oct 03, 2018 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Need Health Insurance (Non-ACA Options)
Replies: 80
Views: 5948

Re: Need Health Insurance (Non-ACA Options)

If, none of you have ANY pre existing conditions, and know what is in your doctor records, short term plans are an alternative. They will run for a year and then one can renew. Most have broader networks, but don't cover all the essential benefits required by ACA. I can't emphasize how important it ...
by pintail07
Wed Sep 26, 2018 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care
Replies: 92
Views: 4972

Re: Long Term Care

LTCI is sold using fear and NOT rational factors.

Not all brokers use these tactics, I never have for one.
by pintail07
Sun Sep 23, 2018 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care
Replies: 92
Views: 4972

Re: Long Term Care

Most plans have the ability to add a rider that waives the waiting period for home care, I always include on client policies.
by pintail07
Sun Sep 23, 2018 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care
Replies: 92
Views: 4972

Re: Long Term Care

I assume that longer deductible periods would appeal to few prospects. Regarding the One America policies, if the policy can do what you want it to do, pay a claim for lifetime and no rate increases, and the premiums are tolerable, seems the added bonus of life insurance or an annuity are really irr...
by pintail07
Sun Sep 23, 2018 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care
Replies: 92
Views: 4972

Re: Long Term Care

National Guardian and One America. I show both to my clients. One big obstacle however, is about 30% of those that apply can't qualify medically. Make sure you talk with a independent broker and let them ask about medical history. We often submit preliminary info to the insurer to get an idea of ins...
by pintail07
Sun Sep 23, 2018 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care
Replies: 92
Views: 4972

Re: Long Term Care

There are "long term" policies that will pay benefits for life. Self insuring is great as long as you don't need it. If you do have insurance after a few months of claims all premiums are more than returned in the form of claims. Self insuring can cost much more if one goes on claim. There are some ...
by pintail07
Fri Sep 21, 2018 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Out of network care
Replies: 96
Views: 7599

Re: Out of network care

My experience is they will pay out of network er visits. If you need more hospital time you will need to change to an in network. However, I was in an out of network er twice and needed further hospitalization, explained the out of network issue and they said on both times I was to critical to chang...
by pintail07
Thu Sep 13, 2018 9:57 am
Forum: Personal Finance (Not Investing)
Topic: dumb dentist question - canceling whole life insurance
Replies: 19
Views: 2053

Re: dumb dentist question - canceling whole life insurance

You can get all the premium back. I helped guide the poster you referred to and he got all his money back. I would assume the agent is a New York Life, Northwestern or Guardian agent. I wrote a ghost letter for the guy to send certified to the agent, his boss and the president of the company. They w...
by pintail07
Sun Sep 09, 2018 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Valuation of Texas Oil lease
Replies: 6
Views: 990

Re: Valuation of Texas Oil lease

Reread the post, I am telling them not to sell.
by pintail07
Sun Aug 12, 2018 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding Medicare Options?
Replies: 42
Views: 2426

Re: Understanding Medicare Options?

My decision came down to networks. Wife and I both have illnesses that are being treated out of state and out of network with MA plans. We pay more each month, about 300 total, than an MA plan. If you want to not be limited to local networks, and the extra cash flow doesn't negatively impact you, I ...
by pintail07
Tue Jul 31, 2018 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Consistently over budget on food - what are you guys eating?
Replies: 70
Views: 6497

Re: Consistently over budget on food - what are you guys eating?

We usually eat out for lunch most every day, about 1000 per month. Another 800 for groceries and wine. We can't travel due to wife's health condition so we just access our vacation funds. We are excellent cooks and usually have better food that we prepare than eating out. We realized eating dinner o...
by pintail07
Tue Jul 31, 2018 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: An argument against self-insuring for long-term care
Replies: 214
Views: 11759

Re: An argument against self-insuring for long-term care

How is C cheaper than B? Something doesn't look right there.
Most companies don't have policies greater than a 5 year benefit. The company quoted in New York Life, really a non player in the business.
by pintail07
Tue Jul 31, 2018 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: An argument against self-insuring for long-term care
Replies: 214
Views: 11759

Re: An argument against self-insuring for long-term care

How about giving us a couple quotes along the lines of (feel free to switch the actual age/coverage amounts to whatever matches the standard policies you offer) a) 60 year old, 5 years of coverage at 100k/year (with some adjustment) b) 60 year old couple, say 8-10 years of coverage at 100k/year (wit...