Search found 2795 matches

by BruDude
Sat Dec 15, 2018 6:24 am
Forum: Personal Finance (Not Investing)
Topic: Forgoing health insurance
Replies: 112
Views: 4694

Re: Forgoing health insurance

If you don’t want to pay ACA prices, you might want to look at the National General 364-day short term plan with a $25k deductible. Doesn’t cover pre-ex and some other stuff but at least gives you some protection. Should be pretty inexpensive for a younger family. Whether it’s available or not in yo...
by BruDude
Sun Dec 09, 2018 11:31 pm
Forum: Personal Finance (Not Investing)
Topic: Term LI Ladder - Any issues?
Replies: 1
Views: 194

Re: Term LI Ladder - Any issues?

Seems reasonable. I'd suggest doing this with Banner Life, they're the only company that will allow you to ladder a single policy like this. That will save you three policy fees, which are a fixed cost that is built into every policy (usually $50-150). Banner only charges one policy fee with a ladde...
by BruDude
Wed Dec 05, 2018 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: Costco Protective LI vs RiverSource LI
Replies: 7
Views: 899

Re: Costco Protective LI vs RiverSource LI

zero sum guy wrote:
Wed Dec 05, 2018 9:14 pm
Thsnk you johnnyg for that term life insurance link. Finally getting insurance information without pesky life insurance salesmen calling me.
Ask someone you know to refer an independent agent they have worked with before.
by BruDude
Wed Dec 05, 2018 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: Costco Protective LI vs RiverSource LI
Replies: 7
Views: 899

Re: Costco Protective LI vs RiverSource LI

Dear Bogleheads I'm 31, my wife is 29 and we finally decided to take Life insurance now. :) Please, would you feedback as to which among Costco Protective LI or RiverSource LI is better? When i reviewed the costs, it seems Costco's protective is cheaper and then online reviews for RiverSource are n...
by BruDude
Tue Dec 04, 2018 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Why Is Insurance Worth It (Analytically)?
Replies: 89
Views: 4228

Re: Why Is Insurance Worth It (Analytically)?

Insurance agent here. I prefer to avoid things that have a reasonable likelihood of costing me a significant portion of my assets, or more than my assets are worth. Insurance is a losing game for everyone as a whole, but you are one person, not a very large group of people. Ask the people in Califor...
by BruDude
Wed Nov 28, 2018 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Never Paid Up
Replies: 7
Views: 1337

Re: Life Insurance Never Paid Up

Dividends are not guaranteed. That was probably a projection based on a certain dividend rate. If the illustration and policy show that it was guaranteed to be paid up by now, that's a different story. I suspect that it is not guaranteed to be paid up.
by BruDude
Wed Nov 21, 2018 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: 12 Month Short-Term Health Insurance
Replies: 21
Views: 1127

Re: 12 Month Short-Term Health Insurance

The availability of these plans can vary quite a bit by state. The National General plan is for 364 days (assuming you choose that option), they cannot cancel it after 3 months. Be aware that the NatGen plan does not cover any prescription drugs and has a max of $250 coverage for ambulance trips. D...
by BruDude
Tue Nov 20, 2018 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: 12 Month Short-Term Health Insurance
Replies: 21
Views: 1127

Re: 12 Month Short-Term Health Insurance

The availability of these plans can vary quite a bit by state. The National General plan is for 364 days (assuming you choose that option), they cannot cancel it after 3 months. Be aware that the NatGen plan does not cover any prescription drugs and has a max of $250 coverage for ambulance trips. B...
by BruDude
Tue Nov 20, 2018 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: 12 Month Short-Term Health Insurance
Replies: 21
Views: 1127

Re: 12 Month Short-Term Health Insurance

BruDude: Is it also correct to assume that they can deny you for any pre-existing condition they don't like? I think it is cheap for a reason. And it seems prudent to read the contract detail and fineprint before pulling the trigger. My suspicion is that the coverage is very limited. Yes, the short...
by BruDude
Tue Nov 20, 2018 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: 12 Month Short-Term Health Insurance
Replies: 21
Views: 1127

Re: 12 Month Short-Term Health Insurance

The availability of these plans can vary quite a bit by state. The National General plan is for 364 days (assuming you choose that option), they cannot cancel it after 3 months. Be aware that the NatGen plan does not cover any prescription drugs and has a max of $250 coverage for ambulance trips.
by BruDude
Tue Nov 20, 2018 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: disability insurance increase..or not?
Replies: 6
Views: 632

Re: disability insurance increase..or not?

It sounds like you don't necessarily need it, but it would give you peace of mind to have it. Are you sure your existing policy doesn't have a Future Increase Option type of rider attached to it?
by BruDude
Mon Nov 19, 2018 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: High premiums on life insurance from financial advisor?
Replies: 13
Views: 947

Re: High premiums on life insurance from financial advisor?

Why did you sign up for YRT? This was my financial advisors idea and I didn't understand it fully at the time. My understanding however is that at my age I can get the full $3MM benefit cheapest by mixing GLT and YRT for the next, say, 10 years then switching the YRT to GLT at a later date. I don't...
by BruDude
Mon Nov 19, 2018 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: High premiums on life insurance from financial advisor?
Replies: 13
Views: 947

Re: High premiums on life insurance from financial advisor?

Keep the disability insurance, Guardian has the best DI you can buy. The life insurance is way overpriced. You can get nonsmoker rates with cigar usage from many companies. Your DI benefit amount seems very low compared to the life insurance - was $1810/mo the max you were able to buy due to having...
by BruDude
Mon Nov 19, 2018 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: High premiums on life insurance from financial advisor?
Replies: 13
Views: 947

Re: High premiums on life insurance from financial advisor?

Keep the disability insurance, Guardian has the best DI you can buy. The life insurance is way overpriced. You can get nonsmoker rates with cigar usage from many companies. Your DI benefit amount seems very low compared to the life insurance - was $1810/mo the max you were able to buy due to having ...
by BruDude
Mon Nov 12, 2018 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Paying life insurance for parents
Replies: 13
Views: 1314

Re: Paying life insurance for parents

Thanks everyone. My mom does get my dads pension and social security upon his passing. I’m not overly worried about her unless she needs assisted living. We have talked to elder care attorney and do have the basics down. The $100,000 they had in savings will be spent down to zero in well under two ...
by BruDude
Mon Nov 12, 2018 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Diversifying term life insurance providers
Replies: 12
Views: 801

Re: Diversifying term life insurance providers

I have never heard of a company defaulting on payment of a valid death claim. Can you provide a source? A very good question, and I don't yet have a complete and satisfactory answer. In my earlier post, I should have differentiated between insurance company "defaults" and "failures," with an actual...
by BruDude
Mon Nov 12, 2018 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Diversifying term life insurance providers
Replies: 12
Views: 801

Re: Diversifying term life insurance providers

Planning to buy ~$8m of term life coverage between both wife and I. Two questions: 1) Does it make sense to buy coverage from more than one insurance provider in order to mitigate counter party risk (i.e. risk that one of the insurers goes bankrupt)? If so, how much diversification makes sense? 2) ...
by BruDude
Mon Nov 12, 2018 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance [still needed?]
Replies: 3
Views: 309

Re: Life Insurance [still needed?]

If you are healthy enough to qualify for a Preferred rating on an individually-owned policy, you'd be in the range of $4100-4500/year for $1M guaranteed for 10 years. Your employer cost will continue going up as you get older, then when you leave you will have to drop it or convert it to an extremel...
by BruDude
Sun Nov 11, 2018 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: Diversifying term life insurance providers
Replies: 12
Views: 801

Re: Diversifying term life insurance providers

I think it would be unwise to have this much coverage depend on the solvency of one insurance company. Life insurance defaults are rare, but they do happen. Quasi-insurance coverage by various "pools" can vary. In my state it is $500,000. I have never heard of a company defaulting on payment of a v...
by BruDude
Sun Nov 11, 2018 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Diversifying term life insurance providers
Replies: 12
Views: 801

Re: Diversifying term life insurance providers

Planning to buy ~$8m of term life coverage between both wife and I. Two questions: 1) Does it make sense to buy coverage from more than one insurance provider in order to mitigate counter party risk (i.e. risk that one of the insurers goes bankrupt)? If so, how much diversification makes sense? 2) ...
by BruDude
Sun Nov 11, 2018 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Paying life insurance for parents
Replies: 13
Views: 1314

Re: Paying life insurance for parents

Sounds like a universal life policy. If it’s a term policy, the premium is going to go up every year now. If it’s a universal life policy, it could still crash in a year or two even with the $430/month payments. You need to find out how long the policy is projected to last if you pay the $430/month.
by BruDude
Sun Nov 04, 2018 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

I posted this before but I think it got lost within other threads. We are seriously looking for a short term plan for 2019 for my husband - he will be 62 in 2019. No preexisting conditions, we have been paying full fare for ACA since 2015 - premiums > $60K (bronze plans). No claims. The difference ...
by BruDude
Sun Nov 04, 2018 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

BruDude - Can you comment on this? Person has S/T 3 month coverage with UHC. Goes to hospital for Emergency Surgery for diverticulitis, no problems with it being covered after her deductible was paid. Policy renews another 3 months, however, she went back to the hospital with an abdominal infection...
by BruDude
Sat Nov 03, 2018 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

ACA policies can't be rescinded because there are no health questions so there's nothing to rescind them for.... The ACA anti-recission clause applies to all health insurance policies, including short-term policies that use medical underwriting. That’s fine, but it won’t stop them from denying clai...
by BruDude
Sat Nov 03, 2018 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

Common myth - once a policy was in force, it was guaranteed renewable from year-to-year unless the insurance company dropped that policy altogether, but if they did drop it the insured would be guaranteed the right to enroll in an equivalent new plan. This was true in Virginia, but not all states. ...
by BruDude
Sat Nov 03, 2018 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Group life insurance through work
Replies: 20
Views: 1584

Re: Group life insurance through work

You will be able to continue coverage under COBRA for at least 18 months as long as you are not fired for "gross misconduct". You will need to pay the full cost, and maybe a small management fee. Under current law, you cannot be refused coverage due to pre-existing conditions, so you could always g...
by BruDude
Sat Nov 03, 2018 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

Before guaranteed-issue, weren't insurance companies able to drop someone if they developed an expensive illness or condition? I think it used to be called "re-underwriting"? If so, that's not really good insurance from a consumer standpoint. You are referring to "post-claims underwriting" which is...
by BruDude
Sat Nov 03, 2018 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Group life insurance through work
Replies: 20
Views: 1584

Re: Group life insurance through work

Hard to say without knowing your age/income/assets/cost of group insurance. In general, buying your own policy is a better option, but if you are unhealthy, a smoker, or are 100% sure you won't need this coverage for more than a few short years, the group policy may be ok.
by BruDude
Sat Nov 03, 2018 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Federal employee long-term disability benefits
Replies: 3
Views: 569

Re: Federal employee long-term disability benefits

FERS is indeed a complicated calculation for what you would qualify for in the event of a disability. There is no long term disability insurance through the federal government, only the FERS disability retirement system. Any group/association LTD policies are going to be inferior to an individual di...
by BruDude
Sat Nov 03, 2018 11:42 am
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

niceguy7376 wrote:
Sat Nov 03, 2018 11:41 am
Do I need to provide my SSN and Address to get quotes at healthinsurance.gov?
I am in Georgia. What are the options / websites to look at to get quotes based on age and zip code.
https://www.healthcare.gov/see-plans/

No address or SSN necessary
by BruDude
Sat Nov 03, 2018 11:32 am
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

I've sold health insurance in Virginia for many years, so I'm well aware of what's going on there. Very nice to have someone who knows what they are talking about contributing here. These price increases are not simply due to medical inflation trend, they are due to guaranteed-issue requirements. I...
by BruDude
Fri Nov 02, 2018 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

I never understand how people don't understand the health insurance market but seem to have such a nice grasp of the auto insurance market. Insurance works by spreading the risk across all people in the pool. Take healthy people out of the pool, such as what happens when you reduce the individual m...
by BruDude
Fri Nov 02, 2018 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

If you are in Northern Virginia, Kaiser may be available to you (depending on exactly where you live). We love Kaiser. If in this area, call Kaiser. Kaiser rates went up a lot this year. Cheapest plan for a 60 year old male is $1098/month for a bronze plan with $5500 deductible and $7900 out-of-poc...
by BruDude
Fri Nov 02, 2018 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

I never understand how people don't understand the health insurance market but seem to have such a nice grasp of the auto insurance market. Insurance works by spreading the risk across all people in the pool. Take healthy people out of the pool, such as what happens when you reduce the individual m...
by BruDude
Fri Nov 02, 2018 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

There are non-ACA compliant plans that can be sold to individuals in 2019 via Associations. You can also buy "short-term" plans and string them together for all of 2019 for your needs. You don't need to string them together anymore, there are 364-day options in most states now. Some states like Nev...
by BruDude
Fri Nov 02, 2018 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

If you are in Northern Virginia, Kaiser may be available to you (depending on exactly where you live). We love Kaiser. If in this area, call Kaiser. Kaiser rates went up a lot this year. Cheapest plan for a 60 year old male is $1098/month for a bronze plan with $5500 deductible and $7900 out-of-poc...
by BruDude
Fri Nov 02, 2018 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

Understood. But for all the things they don't cover, are they covered once the total out of pocket maximums are reached? So assuming the max payout is $15k and assuming I incur $15k of total bills in an emergency (e.g., heart attack), after that I pay $0? I am only buying insurance for potential ca...
by BruDude
Thu Nov 01, 2018 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

There are non-ACA compliant plans that can be sold to individuals in 2019 via Associations. You can also buy "short-term" plans and string them together for all of 2019 for your needs. You don't need to string them together anymore, there are 364-day options in most states now. Some states like Nev...
by BruDude
Thu Nov 01, 2018 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

In the state of Virginia Single male 60 years old Income exceeds ACA maximum What are the best places to shop for insurance. I can examine no subsidy Healthcare.Gov plans- Just wondering if there are any better options out there/ THanks If you are in Northern Virginia, Kaiser may be available to yo...
by BruDude
Wed Oct 31, 2018 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Term Life from $1MM to $2MM questions
Replies: 8
Views: 707

Re: Term Life from $1MM to $2MM questions

Thanks for the responses. Is setup of ITIL expensive. The purpose is to ensure cash infusion in case inheritance tax is due in the next 30 years. Does cholesterol medication increase quote significantly. Is your estate valued over $11.2M or projected to be? Very few people are subject to the estate...
by BruDude
Wed Oct 31, 2018 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

There are non-ACA compliant plans that can be sold to individuals in 2019 via Associations. You can also buy "short-term" plans and string them together for all of 2019 for your needs. You don't need to string them together anymore, there are 364-day options in most states now. Some states like Nev...
by BruDude
Wed Oct 31, 2018 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: HealthCare 2019 - No ACA Subsidy
Replies: 55
Views: 4040

Re: HealthCare 2019 - No ACA Subsidy

In the state of Virginia Single male 60 years old Income exceeds ACA maximum What are the best places to shop for insurance. I can examine no subsidy Healthcare.Gov plans- Just wondering if there are any better options out there/ THanks Virginia's options are pretty limited in most areas. You proba...
by BruDude
Wed Oct 31, 2018 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Term Life from $1MM to $2MM questions
Replies: 8
Views: 707

Re: Term Life from $1MM to $2MM questions

Thanks for the responses. Is setup of ITIL expensive. The purpose is to ensure cash infusion in case inheritance tax is due in the next 30 years. Does cholesterol medication increase quote significantly. Is your estate valued over $11.2M or projected to be? Very few people are subject to the estate...
by BruDude
Wed Oct 31, 2018 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Term Life from $1MM to $2MM questions
Replies: 8
Views: 707

Re: Term Life from $1MM to $2MM questions

1. Yes. You aren't going to get a lower rate than what you have now. Even a 15-year $1M term policy with a Preferred Plus health rating would be more expensive than your existing coverage. 2. Not possible, you'd be buying another policy. 3. Normally the insured is the owner, but if you want to keep ...
by BruDude
Fri Oct 26, 2018 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 ACA plans available for review
Replies: 30
Views: 2965

Re: 2019 ACA plans available for review

Fortunately my rates stayed the same this year, deductible up $500. My clients in Virginia got totally screwed though...cheapest plan for family of 4 with 45 year old parents is $1500-2000/month now. Yikes.
by BruDude
Fri Oct 26, 2018 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Level Premium Term Life is Whole-Life Lite
Replies: 2
Views: 304

Re: Level Premium Term Life is Whole-Life Lite

If you price out an annually renewable term policy, it will usually be much more expensive over the course of 20-30 years than buying a level term policy. The vast majority of people do not want a premium that increases every year.
by BruDude
Fri Oct 26, 2018 12:50 pm
Forum: Personal Consumer Issues
Topic: New Range
Replies: 10
Views: 1075

Re: New Range

My Viking range with natural gas was one of the best purchases I made for my house, use it every day, instant super hot heat, great for cast iron cooking. If you cook a lot it's probably worth the money to get a "chef's" range like Viking/Wolf or one of the high-end lines from GE/Kitchenaid/etc
by BruDude
Fri Oct 26, 2018 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: How Much, How Long, and For Who Do I Need Term Life Insurance?
Replies: 11
Views: 671

Re: How Much, How Long, and For Who Do I Need Term Life Insurance?

Some companies will go up to $1 million with no exam if you qualify for their accelerated underwriting program. $500k doesn’t sound like nearly enough. $1-2M is more like it.
by BruDude
Thu Oct 25, 2018 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance to cover catastrophe health situation?
Replies: 26
Views: 1637

Re: Insurance to cover catastrophe health situation?

Catastrophic plans are basically the same thing as a bronze plan, and some cat plans are actually better because they include 3 office visits with a copay while the bronze plans usually don't. HC.gov plans are no longer required to be listed in "metal" tiers. I'm not sure if insurance companies stil...
by BruDude
Thu Oct 25, 2018 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance to cover catastrophe health situation?
Replies: 26
Views: 1637

Re: Insurance to cover catastrophe health situation?

Liberty Healthshare is not insurance and is not regulated. Buy an ACA-compliant health insurance plan and there will be no lifetime limitations.