Search found 3075 matches

by mephistophles
Thu Dec 15, 2016 11:43 am
Forum: Personal Consumer Issues
Topic: Why does life insurance company insist on this?
Replies: 7
Views: 1769

Re: Why does life insurance company insist on this?

Hi, I have Metlife policy for 10 years (term-life). I figured that this is not enough coverage, so I decided to increase my coverage and I applied for double what I already have with Metlife, but this time through Protective Insurance company. I also doubled the length of the policy (20 years). Now...
by mephistophles
Sun Dec 11, 2016 12:34 am
Forum: Investing - Theory, News & General
Topic: 100% Gain--Really!
Replies: 65
Views: 16160

Re: 100% Gain--Really!

mudfud wrote:RZV (Rydex S&P Smallcap 600 Pure Value ETF) is now up about 670% from the March 2009 lows.

That makes me happy, even though I don't own any :D
by mephistophles
Tue Dec 06, 2016 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance Review
Replies: 2
Views: 529

Re: Insurance Review

Based on the information given us, I recommend keeping what you have in force. Don't know if their term still pays dividends, but if so factor in. If you want additional insurance, then see what's out there.
ole meph, insurance broker
by mephistophles
Tue Nov 22, 2016 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: Whole life - 7 "pithy" questions to ask the salesman
Replies: 43
Views: 5670

Re: Whole life - 7 "pithy" questions to ask the salesman

[ Afan, See Brududes post above for the best answer. An additional point to consider is your question about buying term insurance to protect insurability for those without dependents for those in the military. In my opinion, if you apply that thinking, then everybody without dependents would be a c...
by mephistophles
Tue Nov 22, 2016 12:55 am
Forum: Personal Finance (Not Investing)
Topic: Whole life - 7 "pithy" questions to ask the salesman
Replies: 43
Views: 5670

Re: Whole life - 7 "pithy" questions to ask the salesman

So, question for Ole Meph or other insurance experts. Is this a circumstance where someone without dependents might rationally buy life insurance (term) to protect insurability? Of course, not everyone being deployed is going into combat. But for someone who is headed for a combat assignment, their...
by mephistophles
Sun Nov 20, 2016 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Whole life - 7 "pithy" questions to ask the salesman
Replies: 43
Views: 5670

Re: Whole life - 7 "pithy" questions to ask the salesman

Raymond wrote:If the salesperson is from "First Command", cancel the appointment. Search this site for multiple threads on these rascals.

Even if the company isn't First Command, cancel the appointment anyway.

As mentioned above, do the couple even need life insurance?
Plus 1.
ole meph
by mephistophles
Fri Nov 18, 2016 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: thinking about ditching life insurance
Replies: 19
Views: 2838

Re: thinking about ditching life insurance

This reply is from a life insurance agent (me.) Congratulations on your financial success. Presently, your family is in a position to keep or drop your life insurance as you choose. That said, personally I wouldn't drop a whole life policy that is entirely paid for by his company and part of his emp...
by mephistophles
Tue Nov 15, 2016 2:18 am
Forum: Personal Finance (Not Investing)
Topic: Northwestern Mutual Life Whole Life Policy [Modified Endowment Contract limits]
Replies: 7
Views: 2351

Re: Northwestern Mutual Life Whole Life Policy [Modified Endowment Contract limits]

Thanks Ole. Any insight concerning my suspicion that unscheduled premiums don't produce commissions for the agent? I really cannot answer that question as I do not know the long term relationship you have with this agent. I really wouldn't worry myself too much about the motivation of this particul...
by mephistophles
Mon Nov 14, 2016 12:35 am
Forum: Personal Finance (Not Investing)
Topic: Northwestern Mutual Life Whole Life Policy [Modified Endowment Contract limits]
Replies: 7
Views: 2351

Re: Northwestern Mutual Life Whole Life Policy [Modified Endowment Contract limits]

[Moved into a stand-alone thread from: Northwestern Mutual Life Whole Life Policy [what to do with overfunded WL policies] --admin LadyGeek] I'm posting a new question in this string because there seems to be a lot of knowledge here about Northwestern Mutual. The question is considerably different ...
by mephistophles
Mon Nov 07, 2016 2:23 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance: Cash out or hold?
Replies: 9
Views: 1435

Re: Life Insurance: Cash out or hold?

In an earlier time, and with a brother-in-law who sold insurance, we purchased a 100K life insurance policy. We are now retired, have a strong probability of outliving our investments and have no dependent children. The policy has accrued a cash value of approximately $18K. There is guaranteed cove...
by mephistophles
Wed Nov 02, 2016 12:15 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else experience a gigantic loss in real estate?
Replies: 66
Views: 8276

Re: Anyone else experience a gigantic loss in real estate?

We bought a new construction in 2006, paid 445k. Put about 50k into it, had 2 kids, and realized we don't like the location. Driveways on a hill, it spills into a somewhat busy country road, we're not in a true neighborhood, and the school system is not that good. Things we really didn't think abou...
by mephistophles
Tue Nov 01, 2016 1:22 am
Forum: Personal Finance (Not Investing)
Topic: term life insurance at work and taxes to beneficiary
Replies: 6
Views: 957

Re: term life insurance at work and taxes to beneficiary

I have a question regarding group term life insurance through an employer. - Mid 50's - Work at Megacorp I always thought life insurance would be tax free to beneficiaries, as long as the estate was under $5M. In this year's benefit enrollment the HR person stated that after the first $50K, the ben...
by mephistophles
Tue Nov 01, 2016 1:20 am
Forum: Personal Consumer Issues
Topic: Rationale for doctors' offices not booking >6 months ahead?
Replies: 26
Views: 3659

Re: Rationale for doctors' offices not booking >6 months ahead?

Have this exact situation in my Dermatologists' office. They say it is their computer system. I think it just makes sense not to book
that far out.
by mephistophles
Tue Oct 25, 2016 1:44 pm
Forum: Investing - Help with Personal Investments
Topic: Accumulation VUL Questions...
Replies: 28
Views: 2599

Re: Accumulation VUL Questions...

This policy insures my 10yo... What does this mean? This sounds like insurance salesman language. ??? That's how the policy cover page reads. $500k death benefit...insured is my son...policy holders are my wife and I. Sorry, that was a bit sarcastic. What caused you to write a $500,000 policy on a ...
by mephistophles
Mon Oct 17, 2016 3:14 pm
Forum: Personal Consumer Issues
Topic: Should I be nervous about ancestry.com?
Replies: 17
Views: 4459

Re: Should I be nervous about ancestry.com?

The following is my Opinion based on 30 years in the world of genealogy starting with my mother and continued by me. We have been strictly hobbyists with no ties to any church or other organization interested in family history. My experience during this time period has led me to the conclusion that ...
by mephistophles
Mon Oct 10, 2016 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance and Backdating
Replies: 8
Views: 1007

Re: Term Life Insurance and Backdating

Backdating to save age and premium makes sense if it saves you a decent amount of money over the life of the policy. Or sometimes, ifyou have had medical or other underwriting changes between time of writing and time of issue and acceptance. Otherwise, not.
ole meph
by mephistophles
Wed Oct 05, 2016 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Desperately need help VAL Prudential
Replies: 7
Views: 968

Re: Desperately need help VAL Prudential

Keep it simple. Very simple. For all information regarding your policy, call Prudential and request the VAL unit that specializes in variable appreciable life. They will have the answers to your questions. Your relationship with your mother and the Prudential agent she talks to is entirely personal ...
by mephistophles
Wed Oct 05, 2016 12:18 am
Forum: Personal Finance (Not Investing)
Topic: Desperately need help VAL Prudential
Replies: 7
Views: 968

Re: Desperately need help VAL Prudential

Your Prudential stock has nothing to do with the insurance policy. You can keep it or sell it. It has no effect on the decision about the policy. If no one is depending on your income it is unlikely you need life insurance. If your status changes then maybe at some time in the future you will need ...
by mephistophles
Wed Sep 28, 2016 1:10 am
Forum: Personal Finance (Not Investing)
Topic: Life insurance to avoid estate tax?
Replies: 18
Views: 1904

Re: Life insurance to avoid estate tax?

Over the weekend at a gathering of friends, I heard one of my friends say that one of the way rich people avoid estate tax is by buying life insurance with your heir as beneficiary. That sounded too simple to me. So I did more investigation and found following. 1. This applies to only those that ha...
by mephistophles
Tue Sep 27, 2016 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Term insurance cost after initial term - typical increase?
Replies: 16
Views: 2177

Re: Term insurance cost after initial term - typical increase?

For individual term, the rate increases should be shown in your policy and the accompanying illustration. If you don't have these items call the insurance company for exact numbers. Bottom line is that the rate increases are so substantial that one would not keep the policy in force unless death wa...
by mephistophles
Mon Sep 26, 2016 1:37 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited Whole Life Insurance Policy
Replies: 9
Views: 1713

Re: Inherited Whole Life Insurance Policy

Three decades,
If it were me, I would keep the policy inforce and let the dividends pay for it. This is a gift to you from a grandfather
who loved you, it pays for itself, its internal rate of return is superior to other fixed income vehicles with similar risks.
ole meph
by mephistophles
Sun Sep 25, 2016 11:44 pm
Forum: Personal Finance (Not Investing)
Topic: Term insurance cost after initial term - typical increase?
Replies: 16
Views: 2177

Re: Term insurance cost after initial term - typical increase?

For individual term, the rate increases should be shown in your policy and the accompanying illustration. If you don't have these items call the insurance company for exact numbers. Bottom line is that the rate increases are so substantial that one would not keep the policy in force unless death was...
by mephistophles
Sat Sep 24, 2016 11:45 am
Forum: Personal Consumer Issues
Topic: Facebook - stop getting some posts?
Replies: 4
Views: 690

Re: Facebook - stop getting some posts?

dm200 wrote:On my Facebook, I am getting bombarded by several entities that I do not recall "friending" (or anything like that). One is a regular joke series; another is an old time 50's and 60's, etc. How can I stop the ones I do not want?
Just click on Do not Follow. To Delete click on hide.
by mephistophles
Wed Sep 21, 2016 11:44 pm
Forum: Investing - Help with Personal Investments
Topic: MetLife demutualization shares cost basis
Replies: 3
Views: 2399

Re: MetLife demutualization shares cost basis

Cost basis for demutualization shares is not based on premium paid into your policy. Contact the company to calculate this number for you.
by mephistophles
Tue Sep 20, 2016 12:41 am
Forum: Investing - Help with Personal Investments
Topic: MetShield Annuity
Replies: 6
Views: 1077

Re: MetShield Annuity

Agree with advice. That said, IMHO it is a conflict of interst for a CPA to also sell or recommend a commission based insurance product, or any investment for that matter. They already charge you fees for their time advising and doing work for you. Suggest you find a new CPA who doesn't sell or shar...
by mephistophles
Tue Sep 13, 2016 11:34 pm
Forum: Investing - Help with Personal Investments
Topic: Met life Modified Annunity Contract
Replies: 21
Views: 2451

Re: Met life Modified Annunity Contract

I bought a Met life (MDA) around 13 years ago. The original term was 6% for 10 years. The contract now pays 3% indefinitely. I am about to retire and would like to consolidate my portfolio with Vanguard. 50% Wellington, 50% TRI. The MDA has appx. 350 thousand and Vanguard 1.8 million. My question i...
by mephistophles
Thu Sep 08, 2016 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: Too much life insurance?
Replies: 99
Views: 6647

Re: Life insurance can be vital

IMHO, any life insurance is too much. Bogleheads: This statement is wrong when the family has a small net worth and is dependent on income from a family worker. Low-cost term life insurance is vital in this situation. Best wishes Taylor Plus 1 many times over. Keep it simple folks. ole meph
by mephistophles
Thu Sep 08, 2016 1:23 am
Forum: Personal Finance (Not Investing)
Topic: Can we get by without permanent life insurance?
Replies: 85
Views: 7343

Re: Can we get by without permanent life insurance?

edge wrote:Seems like passive aggressive jibber jabber.
mephistophles wrote:
edge wrote:With what?

I thought the phrase and imogee was a nice thing to say to you :happy

Suit yourself. Have a nice day :D
by mephistophles
Thu Sep 08, 2016 12:06 am
Forum: Personal Finance (Not Investing)
Topic: Can we get by without permanent life insurance?
Replies: 85
Views: 7343

Re: Can we get by without permanent life insurance?

edge wrote:With what?

I thought the phrase and imogee was a nice thing to say to you :happy
by mephistophles
Mon Sep 05, 2016 11:46 pm
Forum: Personal Consumer Issues
Topic: genealogy - starting
Replies: 19
Views: 2336

Re: genealogy - starting

I have done quite a bit of genealogy over the years. A few tips: 1. Obtain some free copies of ancestor/pedigree charts and also family group sheets. You can google them for free. 2. Start by manually entering known information about your family on these sheets with a pencil. 3. Interview older fami...
by mephistophles
Mon Sep 05, 2016 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Are annuities a good investment for ailing elderly parents?
Replies: 31
Views: 4327

Re: Are annuities a good investment for ailing elderly parents?

Indexed Annuities are not the same as traditional Fixed Annuities. I've actually heard salesmen refer to index annuities for short as "fixed annuities". Fixed, as in fixed to an index. There's confusion out there. Yes, annuities can be confusing, but so can any aspect of insuring or investing in ge...
by mephistophles
Mon Sep 05, 2016 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Are annuities a good investment for ailing elderly parents?
Replies: 31
Views: 4327

Re: Are annuities a good investment for ailing elderly parents?

Once the surrender fee goes to zero is it possible to roll this over into something else? Or would anything we take out end up as a taxable distribution? We've also discussed taking a larger distribution (<=10%) and reinvesting it. I'm not sure what all of the options are. My guess is the insurance...
by mephistophles
Mon Sep 05, 2016 12:42 am
Forum: Investing - Help with Personal Investments
Topic: Buy, sell or hold Caterpillar?
Replies: 29
Views: 3741

Re: Buy, sell or hold Caterpillar?

Caterpillar buy or hold? I worked for the company for 33 years and I still have 6000 shares, 5500 in my trust brokerage acct and 500 in my 401k. It still pays a good dividend which I reinvest. Maybe I'm just getting nervous in my old(er) age but this commodities dip feels different somehow! Your th...
by mephistophles
Sun Sep 04, 2016 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Are annuities a good investment for ailing elderly parents?
Replies: 31
Views: 4327

Re: Are annuities a good investment for ailing elderly parents?

Here's a Forbes column I did on these horrible things some time ago. They used to be called Equity Indexed Annuities but they got such a bad reputation that the industry changed the name to Fixed Annuities. http://www.forbes.com/2010/08/10/truth-about-equity-indexed-annuities-personal-finance-bogle...
by mephistophles
Sat Sep 03, 2016 12:50 am
Forum: Personal Finance (Not Investing)
Topic: Are annuities a good investment for ailing elderly parents?
Replies: 31
Views: 4327

Re: Are annuities a good investment for ailing elderly parents?

A few days ago I learned that my ailing elderly father has invested most of his retirement money in two fixed annuities. I immediately called my older and wiser brother for advice. He told me he accompanied our father to meet with his financial advisor a few years ago. My brother states that he and...
by mephistophles
Thu Sep 01, 2016 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Can we get by without permanent life insurance?
Replies: 85
Views: 7343

Re: Can we get by without permanent life insurance?

edge wrote:I think it is OK to buy term from a family member if you know what you want and it is not an 'advice' type situation. I basically just told the guy what I wanted and he whipped up a quote that was exactly what the quoting websites came up with.
Good luck :)
by mephistophles
Mon Aug 29, 2016 12:04 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Scam? Help me understand...
Replies: 23
Views: 2765

Re: Life Insurance Scam? Help me understand...

itstoomuch wrote:The 2 people I greatly admire when it comes to personal wealth building
John Bogle and Art Williams. Both changed the Financial Industry in their respective areas.
thanks for the link. I'll view it.
YMMV
The person I least admire in the insurance industry is Art Williams.
by mephistophles
Sun Aug 28, 2016 11:29 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Scam? Help me understand...
Replies: 23
Views: 2765

Re: Life Insurance Scam? Help me understand...

Nothing that Primerica says should be seriously considered as factual.
by mephistophles
Sun Aug 28, 2016 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Can we get by without permanent life insurance?
Replies: 85
Views: 7343

Re: Can we get by without permanent life insurance?

Most people have a multiple line insurance agent providing auto and homeowners insurance. Their agent is not providing full service and customers are not self motivated to inquire about income insurance for disability and life. Most insurance is sold not bought because it's not compulsory. If lende...
by mephistophles
Sun Aug 28, 2016 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: Can we get by without permanent life insurance?
Replies: 85
Views: 7343

Re: Can we get by without permanent life insurance?

[quote="nisiprius"] Or unless there is no claim check, because the policyholder couldn't afford the premiums and finally let the policy lapse after paying in for years. Because, amazing as it seems, most whole-life policyholders let their policies lapse. That's the conclusion I get from doing the m...
by mephistophles
Sat Aug 27, 2016 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Can we get by without permanent life insurance?
Replies: 85
Views: 7343

Re: Can we get by without permanent life insurance?

Is there anything wrong with my logic? Both wife and I are age 30. We have no need for cash value policies and I don't think we will need a death benefit. If we buy 30 year term at age 30, 35 and 40 we are covered sufficiently through age 70. I figure by that time, house is paid off, cars are paid ...
by mephistophles
Sat Aug 27, 2016 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Probate & Inheritance
Replies: 7
Views: 894

Re: Probate & Inheritance

What is their monthly income? Have you priced the cost of home care? If their life expectancies are only until the end of this year (4 months), have you investigated hospice care for them? I suspect a reverse mortgage might not make sense (or even be possible to process) if they are not expected to...
by mephistophles
Sat Aug 27, 2016 12:25 am
Forum: Personal Finance (Not Investing)
Topic: TERM Life Insurance Only On Breadwinner?
Replies: 16
Views: 1539

Re: TERM Life Insurance Only On Breadwinner?

You have received excellent advice about the value of the work your wife does staying at home and raising your son. Keep all the insurance you have on her and you. Maybe buy more term. At this point you do not remotely understand the value of a partner raising a child, what all that entails and your...
by mephistophles
Thu Aug 25, 2016 3:22 pm
Forum: Investing - Help with Personal Investments
Topic: Variable Universal Life?
Replies: 15
Views: 1849

Re: Variable Universal Life?

I think I know the sentiments here on VUL but my wife had this setup through her father that worked for NYLife. So there would be no turning back. She has $300 a month deducted to "invest" in this insurance for her retirement. Our late FA had chosen the funds to invest in and my short span of resea...
by mephistophles
Wed Aug 24, 2016 10:14 pm
Forum: Personal Consumer Issues
Topic: Honda maintenance schedule?
Replies: 49
Views: 8137

Re: Honda maintenance schedule?

I use the memory minder and cross check the owners manual maintenance section and do what they say. That's what I'm trying to do. But the problem is that the owner's manual says that I need to change my oil (because it's been one year since the last change) and change my brake fluid (because it's b...
by mephistophles
Wed Aug 24, 2016 4:31 pm
Forum: Personal Consumer Issues
Topic: Honda maintenance schedule?
Replies: 49
Views: 8137

Re: Honda maintenance schedule?

Have had Hondas for many years. Now, I use the memory minder and cross check the owners manual maintenance section and do what they say.
by mephistophles
Wed Aug 24, 2016 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Letter From State Farm
Replies: 16
Views: 4208

Re: Letter From State Farm

Jim, thanks for your post as it answered a question for me. We actually have an almost identical policy. My husband took it out in 1974, one month before we were married and it is also for $20,000. I've been reviewing these things and couldn't find our policy, so asked our agent to get a copy. (Too...
by mephistophles
Tue Aug 23, 2016 11:41 pm
Forum: Personal Finance (Not Investing)
Topic: Letter From State Farm
Replies: 16
Views: 4208

Re: Letter From State Farm

Sorry for the delay in following up. I had to get the policies from our safe deposit box. Then I had to actually try to read them. The following information applies to both my, and my wife's policy: First of all, the policies were taken out before Bogleheads existed: 26 AUG 1976 Now for the informa...
by mephistophles
Tue Aug 23, 2016 11:31 pm
Forum: Personal Finance (Not Investing)
Topic: Letter From State Farm
Replies: 16
Views: 4208

Re: Letter From State Farm

Looks like you have a State Farm Executive Protector Whole Life Policy. As part of the illustration for that policy, it should show those two options for the change in premium once you hit a specific age and you have now hit that age! You should have also received an annual update that lets you kno...
by mephistophles
Tue Aug 23, 2016 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Term life insurance advice
Replies: 7
Views: 1044

Re: Term life insurance advice

Good advice given here. Suggest you educate yourself about life insurance. Read Bogleheads Guide to Retirement Planning, the chapter on life insurance. The book is inexpensive or you may be able to google it for free. Then read WIKI items here on the topic. You can also look at prior posts on this t...