Search found 2604 matches

by BruDude
Mon Dec 04, 2017 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: About to take out Term Life Insurance - Questions for Bogleheads
Replies: 11
Views: 1066

Re: About to take out Term Life Insurance - Questions for Bogleheads

Transamerica is not very competitive on price for younger/healthier people. If you are able to qualify for the best health rating, $1M 25-years for yourself would be $794 with American General and for your wife would be $493.99 with Banner. $1M 30 years would be $994 for yourself with American Gener...
by BruDude
Mon Dec 04, 2017 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Individual Disability Insurance - Benefit Increase Riders
Replies: 1
Views: 169

Re: Individual Disability Insurance - Benefit Increase Riders

Future Increase Options do not require evidence of insurability, that's the whole point of buying the FIO rider, only proof of income is required :happy A true FIO is more flexible than the benefit update/increase riders that you're referring to. For example, with Principal you get the option every ...
by BruDude
Wed Nov 29, 2017 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: rental area in Las Vegas and suburbs
Replies: 5
Views: 746

Re: rental area in Las Vegas and suburbs

Summerlin is the place to be. 89128 89138 89135 89134 89144 are probably the most desirable zip codes.
by BruDude
Sun Nov 26, 2017 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Should I go with Group LTD or Individual LTD?
Replies: 8
Views: 747

Re: Should I go with Group LTD or Individual LTD?

Do it right and go with the individual. Also check rates with Ohio National. ON offers a 10% discount on DI if you also buy a $1.5M life insurance policy.
by BruDude
Sun Nov 19, 2017 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Do we need disability insurance
Replies: 45
Views: 5298

Re: Do we need disability insurance

You don't need it. If you see a condition coming on later in life go get a job at almost any company and you will have it. Starbucks for example for 3 months and you have it free. Get a cheap term life policy for 3 to 4 hundred a year you will have a half million dollar policy on say a 20 year leve...
by BruDude
Sun Nov 19, 2017 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Do we need disability insurance
Replies: 45
Views: 5298

Re: Do we need disability insurance

Thank you all! I am 45 and female. I'm a neurologist in CA. No, I haven't gotten quotes from anyone else; do you have any recommendations? I'm planning to call the AMA and the American Academy of Neurology. Thanks! Guardian might be cheaper in CA than Principal. Principal also limits the Recovery b...
by BruDude
Fri Nov 17, 2017 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Risks of Non-ACA Compliant Health Insurance?
Replies: 66
Views: 2807

Re: Risks of Non-ACA Compliant Health Insurance?

I would think there are some ACA-compliant health insurance companies you could find. Call up a doctor's office or two and talk to the person who handles insurance there. Ask what insurance(s) they accept that are ACA-compliant. Or look at the website for your state's department of insurance. Even ...
by BruDude
Fri Nov 17, 2017 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Risks of Non-ACA Compliant Health Insurance?
Replies: 66
Views: 2807

Re: Risks of Non-ACA Compliant Health Insurance?

"Anything you are diagnosed for must be treated within the same six-month period as it will be considered a pre-existing condition for whatever insurance you buy at the end of the short term period--including another short-term policy. So I'm not sure what you mean by "renewing" it. If something ha...
by BruDude
Fri Nov 17, 2017 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Risks of Non-ACA Compliant Health Insurance?
Replies: 66
Views: 2807

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 foll...
by BruDude
Sat Nov 11, 2017 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: Do we need disability insurance
Replies: 45
Views: 5298

Re: Do we need disability insurance

I just got a quote for disability insurance w/the following specs: Principal $8,910 monthly benefit Non-cancelable coverage (premiums guaranteed to stay level) with benefits payable to your age 65 90-day elimination period Own-occupation definition of disability (protects income in your chosen prof...
by BruDude
Sun Oct 29, 2017 2:16 am
Forum: Personal Finance (Not Investing)
Topic: Appropriate Life Insurance in late 40’s – nearing retirement
Replies: 16
Views: 1519

Re: Appropriate Life Insurance in late 40’s – nearing retirement

So you want to take a $1M risk to save $3-4K over a period of 4 years...doesn’t seem too wise when you can easily afford it.
by BruDude
Thu Oct 26, 2017 2:11 am
Forum: Personal Finance (Not Investing)
Topic: Insurance company will not process policy due to "unknown" cause of death
Replies: 14
Views: 2396

Re: Insurance company will not process policy due to "unknown" cause of death

Cause of death doesn’t matter if the policy is that old. As someone mentioned above it might be an AD&D policy.
by BruDude
Wed Oct 25, 2017 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 ACA rates now live....
Replies: 228
Views: 14924

Re: 2018 ACA rates now live....

Southeastern VA, 2 adults 62 and 61 Silver plan 2017 (PPO): 1640/mo Silver plan 2018 (HMO): 2850/mo Not same providers for both years since the 2017 insurer dropped out of the market leaving only one. Subsidy seems to have been adjusted to cover the increase for those who qualify. Just absurd...not...
by BruDude
Wed Oct 25, 2017 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 ACA rates now live....
Replies: 228
Views: 14924

Re: 2018 ACA rates now live....

Our CA Bronze plan for two healthy 56 and 60 year olds went from $1110 a month to $1225 a month, which is a 10% increase. No subsidies. We will be fine :sharebeer Betsy CA seems to be the only state where rates haven't been hit by huge increases. $1200/mo for a Bronze plan for two people is still c...
by BruDude
Wed Oct 25, 2017 11:45 am
Forum: Personal Finance (Not Investing)
Topic: 2018 ACA rates now live....
Replies: 228
Views: 14924

2018 ACA rates now live....

https://www.healthcare.gov/see-plans/?utm_campaign=hcgov_ab&utm_content=english&utm_medium=email&utm_source=govdelivery Cliffs: Subsidy = good, no subsidy = you're about to be broke Sample rates: 55, 62, 22, 20, 16 year old in 24219 - cheapest plan $2,548.63/month 62 and 60 year old in 20120 - cheap...
by BruDude
Tue Oct 17, 2017 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Premier Choice being suggested by agent for health insurance
Replies: 21
Views: 10248

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 BruDude
Tue Oct 17, 2017 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Premier Choice being suggested by agent for health insurance
Replies: 21
Views: 10248

Re: Premier Choice being suggested by agent for health insurance

I've just been quoted this for my wife and two kids who are downgrading from BCBS platinum since we had our daughter this past March. Found this thread and confronted agent about it. He claims Trumps executive order makes penalty null and void. Anyone shed light on this or is it total BS? Penalty s...
by BruDude
Wed Oct 11, 2017 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance as an inheritance?
Replies: 10
Views: 573

Re: Term Life Insurance as an inheritance?

Hi, I was wondering if anyone continues their term-life insurance, even after they are financially independent and/or have retired? I was looking at term4sale.com, and for a 50-year-old male, a $1 million, 30-year term life costs about $2,500 to $3,000 per year. So, at the worst (or best?) case, he...
by BruDude
Wed Oct 04, 2017 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: How much term life insurance is enough?
Replies: 11
Views: 1072

Re: How much term life insurance is enough?

If your income is $100k and you want income replacement, you are probably looking in the range of $1-3M depending on how much income you want to replace.
by BruDude
Mon Oct 02, 2017 10:02 am
Forum: Personal Finance (Not Investing)
Topic: LTD: need some eyeballs and explanations [Long Term Disability]
Replies: 3
Views: 476

Re: LTD: need some eyeballs and explanations [Long Term Disability]

20% bonus target (does it seem odd that they are basing the coverage on a part of my earnings that isn't guaranteed?) They will include bonus money as part of your income as long as the bonus has been paid at least two years in a row. It will either be averaged from the prior 2-3 years bonus amount...
by BruDude
Sun Oct 01, 2017 11:38 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance policy
Replies: 18
Views: 952

Re: Life insurance policy

Almost there wrote:
Sun Oct 01, 2017 10:38 pm
I’m still just looking for a recommendation for an insurance company.
Without knowing anything about his health it’s hard to recommend a company...
by BruDude
Sun Oct 01, 2017 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance policy
Replies: 18
Views: 952

Re: Life insurance policy

pintail07 wrote:
Sun Oct 01, 2017 7:48 pm
200,000 Preferred
Twenty year rate 1200 annually

Age 105 3500 annually
Most people don’t qualify for Preferred in their 60s
by BruDude
Sun Oct 01, 2017 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance policy
Replies: 18
Views: 952

Re: Life insurance policy

Does anyone have a recommendation as to which insurance company to use? "good health" is pretty relative - people with diabetes and heart attacks tell me they're in "good health" all the time. The best approach is to work with an independent broker that can review his health history in more detail ...
by BruDude
Wed Sep 27, 2017 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: I inherited a life insurance policy that is upside down?
Replies: 21
Views: 2192

Re: I inherited a life insurance policy that is upside down?

I'm pretty sure that you don't have to pay back the loan if you let the policy lapse. I don't know about the tax consequences, though. Dividends reduce the cost basis. If there is a loan against the policy and it lapses without being paid back then the tax on the gain would have to be paid. It’s po...
by BruDude
Wed Sep 27, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: I inherited a life insurance policy that is upside down?
Replies: 21
Views: 2192

Re: I inherited a life insurance policy that is upside down?

I agree with the above poster with regards to cash surrender value--you usually can only borrow against cash value of the policy. I don't think you can go into the red to your own life insurance policy. That's what I thought. The policy would cease before going into the red. Not necessarily on a wh...
by BruDude
Wed Sep 27, 2017 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: I inherited a life insurance policy that is upside down?
Replies: 21
Views: 2192

Re: I inherited a life insurance policy that is upside down?

Are you sure the actual cash value isn't $13,610 ($8,812 + $4,798) and the cash value shown is with the loan amount subtracted from the actual cash value? There are two different amounts - actual cash value and cash surrender value. The surrender value is what you would get if the policy was termina...
by BruDude
Tue Sep 26, 2017 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Need Help. Short term disability insurance for a solo / small business owner.
Replies: 6
Views: 704

Re: Need Help. Short term disability insurance for a solo / small business owner.

You aren't going to be able to do a small group plan with only one employee. There are no legitimate individual STD policies that include coverage for pregnancy. Mutual of Omaha is the only company I know of that sells an individual STD policy and it is very expensive (relative to the benefits provi...
by BruDude
Mon Sep 25, 2017 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Term 80 with Northwestern Mutual thinking of making the switch to Term 30
Replies: 6
Views: 760

Re: Term 80 with Northwestern Mutual thinking of making the switch to Term 30

NWM's term premiums generally are not very competitive with other insurance companies. Banner Life will allow you to ladder a policy while only paying one policy fee instead of two. Might be a better option...
by BruDude
Fri Sep 22, 2017 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance - Your inputs please!
Replies: 9
Views: 676

Re: Life insurance - Your inputs please!

IMO, pay the $200/mo and do the right thing for your family. $200/mo for a $1M 20-year policy at your age is not that expensive. If you leave your employer and don't have a separate life insurance policy you could wind up screwed even more.
by BruDude
Thu Sep 21, 2017 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Any holes in this long term disability policy?
Replies: 10
Views: 728

Re: Any holes in this long term disability policy?

I'd get the max coverage and dump the group policy if you can. Premium sounds very reasonable for the benefit amount and riders chosen. You don't really need the catastrophic rider but it is pretty cheap. If you want to reduce premiums I'd start by cutting that rider out.
by BruDude
Wed Aug 30, 2017 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Small businesses and health insurance
Replies: 6
Views: 558

Re: Small businesses and health insurance

The 50% contribution is not an ACA requirement, it has existed long before ACA, so you probably won't find it in there. You can always call the carriers yourself and ask them about both questions. FWIW, United and both BCBS companies in the state I normally sell in do require the 50% contribution. H...
by BruDude
Tue Aug 29, 2017 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Small businesses and health insurance
Replies: 6
Views: 558

Re: Small businesses and health insurance

Do you know where I would find state specific rules and regulations? This was the e-mail response I received from my agent. I live in Illinois. "You have to follow the carrier rules. Their are no regulations on groups under 50 from ACA. I'm not sure where you are finding the data. I do this all day...
by BruDude
Tue Aug 29, 2017 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: Small businesses and health insurance
Replies: 6
Views: 558

Re: Small businesses and health insurance

That agent is totally wrong unless your state has some kind of special rules. The employer must cover 50% of the employee-only premium of the lowest priced plan chosen. Any contributions in excess of that are at the employers discretion. You cannot give different amounts to different employees other...
by BruDude
Sun Aug 27, 2017 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Risks of Employer Paid Disability Insurance
Replies: 20
Views: 1418

Re: Risks of Employer Paid Disability Insurance

Thanks to everyone who responded. It looks like it would be wise to add a LTD policy of my own. Since I've been saving I would not need to cover my full expenses with the policy, so I will shop for a policy that would pay about 30% of my income. I hope that will reduce the premium substantially. Si...
by BruDude
Fri Aug 25, 2017 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Risks of Employer Paid Disability Insurance
Replies: 20
Views: 1418

Re: Risks of Employer Paid Disability Insurance

My current employer foots the bill for short-term disability insurance and long-term disability insurance. The insurance coverage would be sufficient if I were to receive the benefit. My concern is that not every disability is sudden and clear-cut. Some develop over time and could lead to work perf...
by BruDude
Wed Aug 23, 2017 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: At age 66, should let my $1MM life insurance policy lapse?
Replies: 32
Views: 4548

Re: At age 66, should let my $1MM life insurance policy lapse?

Doesn't sound like you need it, but as of now it is a "good deal" compared to what a $1M policy would cost you today which would be 2-4x the price depending on your health. You never know what happens....if $7500 (the remaining 3 years of premiums) won't make or break you, I'd be inclined to keep it...
by BruDude
Wed Aug 23, 2017 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Sharing information with insurance agents.
Replies: 18
Views: 1540

Re: Sharing information with insurance agents.

For OP, if this is in regards to life insurance, most applications ask about your total assets because they want to make sure you aren't in a significant amount of debt and that the coverage amount is reasonable relative to your income and assets. If you somehow had $2M and debt and only earn $30k a...
by BruDude
Wed Aug 23, 2017 12:46 am
Forum: Personal Finance (Not Investing)
Topic: Sharing information with insurance agents.
Replies: 18
Views: 1540

Re: Sharing information with insurance agents.

Hello,. I'm curious how much information one should share with their insurance agent when applying for policies. Is there a difference when applying for life, auto, home, umbrella, etc. policies? I've been asked to show proof of income/assets and am not sure if I should. Thank you. Depends what you...
by BruDude
Mon Aug 21, 2017 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Finding Life Insurance for "High-Risk" Mother
Replies: 25
Views: 2685

Re: Finding Life Insurance for "High-Risk" Mother

To answer some of the questions above, she will be purchasing the policy for herself if it's financially feasible. The policy will be to cover final expenses, since she will probably out live what money she has left. The contract with a funeral director makes sense. She shouldn't be looking at a te...
by BruDude
Fri Aug 18, 2017 11:23 am
Forum: Personal Finance (Not Investing)
Topic: question regarding life insurance purchase: online vs. real-life agent
Replies: 8
Views: 605

Re: question regarding life insurance purchase: online vs. real-life agent

Are you sure you have to pay the agent annually? Usually you just give the agent the first year's check, and you pay the insurance company directly in future years. that...I will have to confirm since the first check is issued to the agent and not the mega insurance company. thanks for letting me k...
by BruDude
Thu Aug 17, 2017 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: NYC real estate question
Replies: 17
Views: 1854

Re: NYC real estate question

You have a ton of assets, you aren't going broke any time soon, and you only live once. Enjoy it while it lasts.
by BruDude
Thu Aug 17, 2017 11:09 am
Forum: Personal Finance (Not Investing)
Topic: ObamaCare 2018
Replies: 74
Views: 9342

Re: ObamaCare 2018

Interesting points about negotiated rates. I didn't think about this previously, but if a person has a $5,000 deductible and a medical visit normally costs $300 but the negotiated rate is $100 then the insured person is only responsible for paying the $100 (provided the deductible has not been met)...
by BruDude
Wed Aug 16, 2017 8:53 am
Forum: Personal Finance (Not Investing)
Topic: ObamaCare 2018
Replies: 74
Views: 9342

Re: ObamaCare 2018

It's going to be a race to the bottom in most states this year. Which company can provide the worst network at a price that people still find halfway reasonable? Maybe the adverse selection effects of the guaranteed issuance are turning out to be bad enough that they don't want to have a reasonable...
by BruDude
Tue Aug 15, 2017 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: ObamaCare 2018
Replies: 74
Views: 9342

Re: ObamaCare 2018

It's going to be a race to the bottom in most states this year. Which company can provide the worst network at a price that people still find halfway reasonable? Anthem BCBS just announced they're leaving VA, and Aetna and United Healthcare already did the same. Something like 80-90% of my clients i...
by BruDude
Tue Aug 15, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Life insurance policy on toddler
Replies: 19
Views: 2244

Re: Life insurance policy on toddler

I don't see how they are going to turn $1580 x 18 years of premiums into $180k "for educational expenses". What does the guarantee say? Something is missing from that equation...
by BruDude
Sat Aug 12, 2017 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: Do I have an HDHP?
Replies: 8
Views: 946

Re: Do I have an HDHP?

Does it have any copays before the deductible is met? If so, then it is not eligible for HSA.
by BruDude
Tue Aug 01, 2017 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Trouble with Universal Life Insurance Policy
Replies: 19
Views: 1882

Re: Trouble with Universal Life Insurance Policy

I don't think there is any doubt that she was convinced to sell her whole life (which may have been suitable) and buy universal life which was not suitable since she wanted to guarantee providing for her son . It is certainly worth contacting you state insurance regulators to see if there is any re...
by BruDude
Mon Jul 31, 2017 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance for 30 year old single income
Replies: 16
Views: 826

Re: Disability Insurance for 30 year old single income

So noted. How much time and money should a 29 year old spend planning for a disability? I'm always interested in learning. IMO, buying a DI policy is insuring your biggest asset, which is your earning power for the next 30+ years. A good independent agent should be able to explain how the policy wo...
by BruDude
Mon Jul 31, 2017 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance for 30 year old single income
Replies: 16
Views: 826

Re: Disability Insurance for 30 year old single income

When you talked to the broker did you tell him you had the policy at work? There is a max amount (usually 60% of income) that you can purchase TOTAL in disability insurance. So what does 15k/mos equal in income (incl bonus exclude stocks they might give)? If that puts you at close to 60% I would no...