Search found 283 matches

by pintail07
Wed Apr 25, 2018 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: How to be a good executor to family
Replies: 25
Views: 1464

Re: How to be a good executor to family

Interesting thread as I am named executor in 90 year old parents estate. Three other siblings and estate is several million with real estate and oil interests. I am the oldest and semi retired but reluctant to accept this role without being compensated because it will be a long time consuming job.
by pintail07
Wed Apr 25, 2018 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy
Replies: 12
Views: 549

Re: Whole Life Policy

One option is to 1035 into LTC hybrid policy if you desire to insure for LTC.
by pintail07
Wed Apr 11, 2018 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Protecting Against Disability with SAHM?
Replies: 19
Views: 937

Re: Protecting Against Disability with SAHM?

Read their policy very carefully. There is a reason no other companies insure folks with no income.
by pintail07
Wed Apr 04, 2018 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in syndicated real estate deals
Replies: 11
Views: 942

Re: Investing in syndicated real estate deals

I was in a brokerage firm in the 80's that did a bunch of these partnerships and they mostly were profitable deals for the investor. However, dig very deep on the General Partner. Dig very deep on who the previous owners of the property were. The last few deals I saw the GP was involved as a previou...
by pintail07
Sun Mar 11, 2018 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Another "Should I self-insure" for LTC Question
Replies: 119
Views: 6982

Re: Another "Should I self-insure" for LTC Question

Let's say the LTC plan covers $300,000 worth of LTC costs. With a dollar for dollar match from a state partnership approved plan, there would be up to $300,000 in additional benefits....$600,000 in total. ...one dollar of additional benefits for every dollar of insurance benefits used. Are you sure...
by pintail07
Wed Mar 07, 2018 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Another "Should I self-insure" for LTC Question
Replies: 119
Views: 6982

Re: Another "Should I self-insure" for LTC Question

People who sell insurance always know how to push all the right emotional buttons. From what I’ve read, OP posted, no inflation rider and this policy is worth less than $300k today, more increase every year and it will be worth less. Personally if this were me, I would get my premium back. Self-ins...
by pintail07
Tue Mar 06, 2018 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Another "Should I self-insure" for LTC Question
Replies: 119
Views: 6982

Re: Another "Should I self-insure" for LTC Question

Over the last 25 years there is one common denominator with those that choose to purchase long term care insurance, they had personal experience with friends or family that needed care. They witnessed those that had insurance and how thankful they made that decision and those that didn't and wished ...
by pintail07
Mon Mar 05, 2018 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care: Excellent Morningstar article [75 Must-Know Statistics About Long-Term Care]
Replies: 23
Views: 2656

Re: Long Term Care: Excellent Morningstar article [75 Must-Know Statistics About Long-Term Care]

Much harder in most states to get approval for rate increases. Many believe the miscalculations on underwriting these policies have been addressed, not to say there won't be future rate increases, but much less perhaps. One can often avoid these rate increases by opting to make 10 payments then no f...
by pintail07
Mon Mar 05, 2018 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care: Excellent Morningstar article [75 Must-Know Statistics About Long-Term Care]
Replies: 23
Views: 2656

Re: Long Term Care: Excellent Morningstar article [75 Must-Know Statistics About Long-Term Care]

These statistics are from tracking nursing home stays and claims. 80% of claims are for home care, one may stay at home for years before requiring nursing home care.
by pintail07
Mon Mar 05, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Another "Should I self-insure" for LTC Question
Replies: 119
Views: 6982

Re: Another "Should I self-insure" for LTC Question

First of all your monthly, daily and annual and lifetime benefit is NOT stuck at 450,000 max benefit, it increases at 5% per year. Additionally, if you went to the open market and bought a similar benefit policy and assuming preferred rates your annual premium would be around 15,000 per year. An ass...
by pintail07
Thu Mar 01, 2018 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: LTC funds running out and 31,000 in investments
Replies: 11
Views: 1092

Re: LTC funds running out and 31,000 in investments

So do you wait till funds are depleted then seek a medicaid bed open? Might not be one available where he might want to go. Why not use the home equity to get a bed close and then when funds run out they usually make a bed available. Who stands to inherit his sheltered 300,000? Does he have a family...
by pintail07
Thu Mar 01, 2018 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: LTC funds running out and 31,000 in investments
Replies: 11
Views: 1092

Re: LTC funds running out and 31,000 in investments

Put the house on the market, use those funds to private pay at the facility chosen, should cover three years or so of expense.
by pintail07
Sun Feb 25, 2018 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance
Replies: 149
Views: 7391

Re: Long term care insurance

There are traditional policies with unlimited benefit periods. It really depends on what state you reside as to if they are available. Yes I do sell LTC most agents don't really understand the policies available and how they can be utilized. These policies also can be structured to return your premi...
by pintail07
Wed Feb 21, 2018 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance
Replies: 149
Views: 7391

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: 287
Views: 19756

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: 287
Views: 19756

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: 1086

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: 1073

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: 1812

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: 1581

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: 1812

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: 998

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: 1620

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: 405

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: 859

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: 587

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: 587

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: 587

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: 3607

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: 3607

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: 4559

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: 4559

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: 4559

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: 4559

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: 4559

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: 4559

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: 1019

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: 35622

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: 35622

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: 13981

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: 3145

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: 3145

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: 16995

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: 3457

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: 1659

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: 2086

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: 2086

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: 2252

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: 2252

Re: Help picking apart whole life insurance cash value

You seem to be convinced. You should go forward with your plan.