Search found 92 matches

by Yam the Bomb
Wed Nov 14, 2012 7:55 am
Forum: Personal Consumer Issues
Topic: Perpetual care of cemetery plot
Replies: 24
Views: 6728

Re: Perpetual care of cemetery plot

I spell so bad even the spell checker doesn't know what I'm trying to say.
by Yam the Bomb
Wed Nov 14, 2012 7:54 am
Forum: Personal Consumer Issues
Topic: Perpetual care of cemetery plot
Replies: 24
Views: 6728

Re: Perpetual care of cemetery plot

In the USA they don't dig up people who don't pay their perpetual care fund. When you buy the grave space you own the enterment rights to it forever. What perpetual care money is for is permeate maintence of the cemetery. Mowing the grass, maintaining roads, roofs on mausoleums, etc.

With most cemeteries around 20% of the price you pay for grave spaces and mausoleums goes to the perpetual care fund. The only cemeteries I know of that have an annual fee or lifetime member fee would be a very small church cemetery.

These funds are often mismanaged and embezzled. I wouldn't pay a big fee. Just shop around to a different cemetery.
by Yam the Bomb
Wed Nov 14, 2012 6:50 am
Forum: Personal Consumer Issues
Topic: Things to consider before buying a used car
Replies: 17
Views: 2836

Re: Things to consider before buying a used car

I've bought and sold a lot of vehicles in my time. One thing to keep in mind is KBB and other price guides are simply guides. In reality no two used cars are worth the exact same amount. One is always going to be more attractive to buyers than another. My advice is to figure out EXACTLY what you want. Narrow it down to the exact make, model, trim line, color and features you want. Then start watching those cars on eBay, cars.com, Craig's list, local listings, etc. you will soon get a feel for what a good deal is and how often they come up for sale and how quickly they sell. Never be afraid to make your solid offer AFTER you have researched. When you find exactly the car you want and have checked that it's the condition you want, YOU set the...
by Yam the Bomb
Mon Nov 12, 2012 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Term life insurance question
Replies: 11
Views: 1891

Re: Term life insurance question

dhodson wrote:I'd go 30 year term with 2-3 million in coverage.

Avoid permanent insurance or anyone who tries to push it on you.

Too many of us physicians make the mistake of buying a permanent policy. Most of us regret it. I certainly do.
Too many physicians also leave broke widows. I have two widows of doctors and one widow of a dentist as clients who may as well have been married to Burger King night managers.

Buy term and invest the difference is fine...just make sure you invest the difference.
by Yam the Bomb
Mon Nov 12, 2012 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Term life insurance question
Replies: 11
Views: 1891

Re: Term life insurance question

The only TRUE term life insurance is annually renewable term. That's the kind where every year the premium increases to reflect you getting a year older. You keep it as long as you need it and cancel it as soon as you don't. This version of term is very unpopular nowadays for two reasons 1. People will pay extra to eliminate the unknown and 2. Companies make a lot more money if they can sell you blocks of time with a level premium. Once you change from annually renewable to a level premium (20- year or 30-year, etc.) you are paying a lot of extra money in the first years to reduce what you have to pay in the later years of the term. The reason companies like this better is because MANY people will buy a 30- year term policy and drop it for ...
by Yam the Bomb
Sun Nov 11, 2012 11:17 pm
Forum: Investing - Theory, News & General
Topic: Does an annuity ever make sense ?
Replies: 38
Views: 4373

Re: Does an annuity ever make sense ?

I know Suzi Ormon is not the most credible source but she puts it pretty well here.

http://www.youtube.com/watch?v=zzx6GZjg ... ata_player
by Yam the Bomb
Sun Nov 11, 2012 8:33 pm
Forum: Investing - Theory, News & General
Topic: Does an annuity ever make sense ?
Replies: 38
Views: 4373

Re: Does an annuity ever make sense ?

IF someone is going to put money in a CD at 1% for 5-years compared to an annuity at 2.5% for 5-years, I personally think the choice is a no brainer. (I do sell annuities so most people on here think my opinion is tainted.)

For me personally I put quite a bit of my money in indexed annuities that I pulled out of the market. I am very opposed to market risk as I get closer to retirement. Most people are not as conservative as me with their retirement money.

But annuities (and CDs) are NOT investments. It's not legal for people in the business to call them that. They are a protective product NOT an investment product. The exception to that rule is VARIABLE annuities which ARE invested in the market so they do carry investment risk.
by Yam the Bomb
Sun Nov 11, 2012 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Any Self-insure instead of buying a Medicare Supplement?
Replies: 31
Views: 3305

Re: Any Self-insure instead of buying a Medicare Supplement?

Prudence wrote:The low cost high deductible Plan F would work best for us. However, will all providers accept this coverage?
Yes any doctor or hospital that takes Medicare assignment will take ALL Medicare Supplements. You will have a hard time finding a provider that doesn't take Medicare.

But don't confuse that with Medicare Advantage. Many providers won't accept that or may take it at out of network terms only.
by Yam the Bomb
Sun Nov 11, 2012 2:03 pm
Forum: Personal Consumer Issues
Topic: Perpetual care of cemetery plot
Replies: 24
Views: 6728

Re: Perpetual care of cemetery plot

I wouldn't pay more in advance to the cemetery than necessary. Perpetual Care Funds get embezzled way too often.
by Yam the Bomb
Sun Nov 11, 2012 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Medigap Premium Increases-concern
Replies: 11
Views: 3769

Re: Medigap Premium Increases-concern

Yam the Bomb: would your inclination to go with Aetna include a subsidiary, American Continental Insurance Company? and I had not thought the community rating through. I may not live long enough to break even on it but I have no choice in the matter. Thanks for the heads up regarding short term discounts and looking into the number of years the insurance company has been in business. Good insights, thanks. Thanks, jim Yes. American Continental is the Medicare Supplement division of Aetna. You get the security of one of the largest health insurance providers but you also get the benefit of a smaller division that handles all the Medicare plans. Aetna bought American Continental from Genworth last year. They LOWERED rates in many states and ...
by Yam the Bomb
Sat Nov 10, 2012 2:21 pm
Forum: Personal Consumer Issues
Topic: Medicare Open Enrollment Season
Replies: 8
Views: 971

Re: Medicare Open Enrollment Season

Use the Medicare website for initial comparisons BUT once you choose a plan, enter your drugs a 2nd time in that company's website. The Medicare website has a LOT of mistakes and is not updated quickly.

The Centers for Medicare and Medicaid REQUIRE agents to look up your info on the company's website and not rely for the Medicare website to be accurate. It's a great tool. But it's not the final tool.
by Yam the Bomb
Sat Nov 10, 2012 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Medigap Premium Increases-concern
Replies: 11
Views: 3769

Re: Medigap Premium Increases-concern

A lot of it is hope and pray. If all plans are community rated you have to live with that but it's not to your advantage for the same reason Bogleheads don't like whole-life. You are paying extra now to level out rate increases in the future. Stay away from any company that sells under multiple names and opens and closes each one every few years. That is a pricing shell game that works GREAT for the insurance company. If you don't know who this company is...think of Marlin Perkins Wild Kingdom. I would also avoid any company that gives you a "discount" that you lose over several years. That is just a built in rate increase that they don't report as rate increases. Well known companies and little known companies all raise rates. Th...
by Yam the Bomb
Sat Nov 10, 2012 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Any Self-insure instead of buying a Medicare Supplement?
Replies: 31
Views: 3305

Re: Any Self-insure instead of buying a Medicare Supplement?

I have AARP plan F since medicare at age 65. I need the peace of mind if serious illness comes. Sam (age 68) The Plan F does give Maximum peace of mind. Don't put any extra value on the AARP brand or any other brand though. Shop it. Buy your plan F from the cheapest company selling it in your state. Reshop it EVERY time you have a rate increase of 10% or more. That way you get maximum peace of mind PLUS save money. Also it sounds like you bought your AARP Plan F prior to June 1st 2010. If that is true you are on their old block of business (not good.) you can reapply today even if you want only AARP (but I recommend shopping all brands) and benefit from several things. Your new Plan F (Modernized Plan F sold after June 1st 2010) will be pr...
by Yam the Bomb
Sat Nov 10, 2012 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Laid off-Health Insurance Needed
Replies: 83
Views: 6709

Re: Laid off-Health Insurance Needed

This person's stance on not opting to buy health insurance is not unusual. .... Their plan is always the same and it does work. Don't use medical care for minor thing or preventive. If something major hits them...bankruptcy and start over. Financially the plan has worked well for most of them. Putting my finance/ accounting hat on, that will play havoc with any hospital or health care treatment facility, if the have to factor in bad debts for their bills. You'll raise the systemic cost quite significantly (because you have to have credit checks, people to chase, court orders, bailiffs etc.). So somebody will pay for this 'free' strategy-- the other customers of the hospital and their insurers. I agree. When I say it works, I mean it works ...
by Yam the Bomb
Sat Nov 10, 2012 5:35 am
Forum: Personal Finance (Not Investing)
Topic: Laid off-Health Insurance Needed
Replies: 83
Views: 6709

Re: Laid off-Health Insurance Needed

For the original poster who is laid off, short term health insurance is the option designed for you. It's much cheaper than Cobra or regular (guaranteed renewable) health insurance. It's sold in 6-month blocks and is for people between jobs.

It's sold by Anthem, Humana, Assurant, etc.
by Yam the Bomb
Sat Nov 10, 2012 5:30 am
Forum: Personal Finance (Not Investing)
Topic: Laid off-Health Insurance Needed
Replies: 83
Views: 6709

Re: Laid off-Health Insurance Needed

This person's stance on not opting to buy health insurance is not unusual. Many if not most young adults in their 20's feel the same way. They are the ones who can buy it very inexpensively but won't.

The affordable care act resolves that for them in 2014. They will be taxed (or fee which ever they choose to call it) to encourage them to do the right thing.

Their plan is always the same and it does work. Don't use medical care for minor thing or preventive. If something major hits them...bankruptcy and start over. Financially the plan has worked well for most of them.
by Yam the Bomb
Fri Nov 09, 2012 7:43 am
Forum: Personal Finance (Not Investing)
Topic: health insurance for early retirees under current law
Replies: 50
Views: 8922

Re: [Affordable Care Act] current law early retirement

The WORST part is to call it the AFFORDABLE care act. Most people didn't think health insurance was affordable before. And this act is supposed to make it much more expensive when it kicks in. Affordable is a misleading name. I used the calculator and to me they did make it Affordable. Like I said in my other thread, if I get laid off I have to pay around $25K for COBRA without an income. Under The ACA I will get to use Medicaid if I lose my income. I don't mind paying more for health insurance if I am employed, it's the saftey new I appreciate if I ever lose my income. Can you give more details on this? I've never been without health insurance but let me tell you as a cautious person I get nervous when I change jobs. Then there was the ti...
by Yam the Bomb
Fri Nov 09, 2012 6:49 am
Forum: Investing - Theory, News & General
Topic: Your Best One Line of Wisdom
Replies: 238
Views: 23862

Re: Your Best One Line of Wisdom

Never confuse formal schooling with a good education.
by Yam the Bomb
Fri Nov 09, 2012 6:38 am
Forum: Personal Finance (Not Investing)
Topic: Any Self-insure instead of buying a Medicare Supplement?
Replies: 31
Views: 3305

Re: Any Self-insure instead of buying a Medicare Supplement?

I might be wrong about this and would love to hear from Medicare Advantage policyholders on this topic... One of the advantages of Medicare Advantage plans, as I understand it, is you get doctors more easily by saying "Humana" (for example) instead of answering "Medicare" when you're trying to get an appointment with a new doctor. Is this true? Yes you DEFINITELY have it backwards. When I as an agent sign someone up for a Humana plan one of the things I am REQUIRED to do is make certain they know that their plan will NOT be accepted by a lot of doctors that DO take original Medicare. It is MUCH more restrictive. Especially if you take an HMO plan. A PPO is less restrictive than an HMO but still much more restrictive tha...
by Yam the Bomb
Fri Nov 09, 2012 6:33 am
Forum: Personal Finance (Not Investing)
Topic: Any Self-insure instead of buying a Medicare Supplement?
Replies: 31
Views: 3305

Re: Any Self-insure instead of buying a Medicare Supplement?

For people who want to self insure the Hi deductible Plan F is a good choice.

MANY people would save money over their lifetime to have NO supplement. But if you turn out to be one of the unfortunate ones, you can wipe out a lot of your wealth by self insuring. It's not all nickel dime stuff.
by Yam the Bomb
Wed Nov 07, 2012 10:00 pm
Forum: Personal Consumer Issues
Topic: When is it ok to purchase recreational toys?
Replies: 66
Views: 12370

Re: When is it ok to purchase recreational toys?

I bought my "dream" motorcycle last year, my first. It's actually a scooter, a Piaggio MP3 400ie. I saw them while vacationing in Europe and lusted after them for a few years. They have a nice trunk in back, so I can use my scooter for most errands, including grocery shopping (holds three bags worth of groceries). The two wheels in front add a tad to the stability, but otherwise, it will fall down just like any two-wheeled bike. When I first got it, I rode so timidly that I got over 90 mpg and now get 75-80 mpg -- now that I'm "zooming" around more! :shock: I'm not ready to take it on the freeway, which the locals consider as NASCAR training. I do hypermile when I can, which helps on gas mileage. I bought a 2009 that wa...
by Yam the Bomb
Wed Nov 07, 2012 6:50 am
Forum: Personal Finance (Not Investing)
Topic: Moving between Medicare Advantage and Medigap
Replies: 12
Views: 1267

Re: Moving between Medicare Advantage and Medigap

Jerilynn wrote:
sscritic wrote:
Jerilynn wrote:
In this case I would assume they would not be listed as 'network' providers for MA or Medigap, don't you think?

There is no such thing as 'network providers' for Medicare or for Medicare Supplements. It is open network fee for service.

You are confusing privatized Medicare alternative plans (aka Medicare Advantage) which do have networks. Usually PPO and HMO. These plans do not have the excess charges feature. The networks have already set their own fee structures with providers.
by Yam the Bomb
Wed Nov 07, 2012 6:45 am
Forum: Personal Finance (Not Investing)
Topic: Moving between Medicare Advantage and Medigap
Replies: 12
Views: 1267

Re: Moving between Medicare Advantage and Medigap

You can always move anytime you want IF you can answer the health questions. You can change 12- times a year if you want to be extreme.

Only Medicare Advantage and Pard D RX plans are affected by enrollment periods.
by Yam the Bomb
Tue Nov 06, 2012 8:44 pm
Forum: Personal Consumer Issues
Topic: When is it ok to purchase recreational toys?
Replies: 66
Views: 12370

Re: When is it ok to purchase recreational toys?

As a guy who has owned dozens and dozens of motorcycles (many of them Harley's) let me teach you something that SHOULD be obvious but most people never have the willpower to pull it off. If you knew EXACTLY when the stock market would be up and when it would be down, do you think you could get rich? With the whole northern half of the country, motorcycles bring TOP dollar in the spring and there are ZERO buyers and lots of disparate sellers in the winter. It works every year like clockwork. Many people who buy Harley's are financially immature posers. They buy it to look cool and impress a girl and to have a reason to buy the leather jacket. Then winter hits and they NEED a new BMW 4x4 or at Mexican vacation or might be getting a divorce or...
by Yam the Bomb
Tue Nov 06, 2012 6:29 am
Forum: Personal Consumer Issues
Topic: Movie night in recommendations
Replies: 269
Views: 29287

Re: Movie night in recommendations

A Summer Story is worth checking out too for fans of A Christmas Story. A different kid plays Ralphie (McCaulkin I think) and most of the actors are different but the same characters and same narrator. Based on the same Jean Sheppard book but different chapters.

There was a third one too but it wasn't too good.
by Yam the Bomb
Tue Nov 06, 2012 6:23 am
Forum: Personal Consumer Issues
Topic: Movie night in recommendations
Replies: 269
Views: 29287

Re: Movie night in recommendations

It doesn't get any better than Tombstone.

The first two seasons of Deadwood were good too.
by Yam the Bomb
Mon Nov 05, 2012 7:35 am
Forum: Personal Consumer Issues
Topic: Star Wars Franchise - What Order?
Replies: 47
Views: 3902

Re: Star Wars Franchise - What Order?

I've only seen one Star Wars movie. It was one where Luke Sky Walkers dad (or somebody) was a little kid. He was racing in some kind of flying race car. I think it was the first one that Natalie Portman was in. I didn't care for it.

For some reason the movies like that and ET and most any huge budget movie I just don't get in to. I did like Avaitar though.
by Yam the Bomb
Mon Nov 05, 2012 6:39 am
Forum: Investing - Theory, News & General
Topic: How did you make your million(s)?
Replies: 81
Views: 14665

Re: How did you make your million(s)?

Started with nothing. Worked every day since becoming a paperboy at age 11. Never financed a car for longer than 12-months and never paid less than 50% down. In the early years that means you buy great condition but high milage cars.) Never bought a home that I couldn't pay at least 20% down and pay off in 10-years. Every thing I buy is on CREDIT cards and paid off in full monthly. I don't believe in debit cards. And cash is too easy to lose track of where you spend it. Dual incomes after married (she came with nothing also.) We have just never had the desire to live beyond our means. We OWN a very nice home. We pay CASH for our cars and home remodeling. We don't hand money over to our kids. We raised them to be independent AND frugal. I ha...
by Yam the Bomb
Sun Nov 04, 2012 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Medigap policy cost
Replies: 68
Views: 38060

Re: Medicare Medigap policy cost

Your broker is your employee. He gets paid every single month that you DON'T change. Fire him if you have to teach him how to serve you. Thanks very much for the help. I assume that if one goes online at some point and enrolls directly with a different Medigap provider, the commission to the broker stops. It would also appear that enrolling directly without a broker helps lower Medicare costs and presumably the national debt. Regardless, it looks like a good Medicare insurance agent could be very helpful over time. I don't think you can apply with most of the Medicare supplement companies without an agent somewhere. Even if you could, it wouldn't save Medicare anything. The extra money would stay with the insurance company like it does wit...
by Yam the Bomb
Sun Nov 04, 2012 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Medigap policy cost
Replies: 68
Views: 38060

Re: Medicare Medigap policy cost

So the short answer. I recommend getting a GOOD broker. Not one of those that is hammering you when you are turning 65 and NEVER one that works for an insurance company (captive agent.) Thanks for all your comments regarding the use of a broker in selecting a Medigap policy. This discussion has been a great help. In regards to the commission that is paid, I'm wondering if there are any details that one should understand. I'm curious if the commission varies among the major companies offering Medigap plans, and whether that might influence a recommendation. Also, is the commission a one time payment or does it continue as long as the policy is in place? It could also be reduced after some number of months if payments are ongoing. The key po...
by Yam the Bomb
Sun Nov 04, 2012 12:25 am
Forum: Personal Finance (Not Investing)
Topic: Medicare Medigap policy cost
Replies: 68
Views: 38060

Re: Medicare Medigap policy cost

Uncertain if a SHIP counselor could give you specific recommendations as to Medigap companies or brokers. You might need to contact companies directly or go the broker route. Lots of independent brokers are online. Unfortunately, I've noticed they each have their own biases as to which companies they like best, but there is some over-lap in advice. Amazed at how many recommend AARP/United Healthcare saying their rate increases are modest. I have to point out that their rate for 80 year old folks is not among the lower ones. If you can talk with an independent broker in Calif. they can at least tell you which companies are asking for a rate increase,etc. Rates seem to change overnight and some of the quotes online are not up-to-date. One th...
by Yam the Bomb
Mon Oct 29, 2012 5:30 pm
Forum: Personal Consumer Issues
Topic: Is it time to install a whole-house generator?
Replies: 193
Views: 29806

Re: Is it time to install a whole-house generator?

I've used a lot of noisy generators through the years but about 10-years ago I used a 6500 water-cooled Honda that was as quiet as you could ever get. There are different ones because I've used other Hondas that were fairly quiet but this one was practically silent.

Also you want to make sure any generator you get has an auto throttle so it idles down to the RPM it needs to supply the power you are requiring. The ones that just run full throttle all the time will be noisier, wear out quicker and eat way more fuel.
by Yam the Bomb
Mon Oct 29, 2012 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Medigap policy cost
Replies: 68
Views: 38060

Re: Medicare Medigap policy cost

How do you fine a good medicare broker besides referrals? Thanks Frankly, between Medicare.gov and our state Shipp web site, it's easy to get just all the information there is on coverage, cost, and comparison between policies/carriers. I really don't see the need for an agent. I know some people are resistant to using a broker because they make a commission and the free helpers at SHIPP and the employees at Medicare do not. That does make sense on paper. But if I were you I would interview both. There are brokers that are terrible and others that are fantastic. There are SHIPP and Medicare workers that are terrible and others that are fantastic. But I haven't met many non-brokers that REALLY take the time to understand how everything work...
by Yam the Bomb
Mon Oct 29, 2012 4:13 pm
Forum: Personal Consumer Issues
Topic: Most reliable used vehicles?
Replies: 50
Views: 9242

Re: Most reliable used vehicles?

The Mazda 3 is another reliable car I've had good experience with. Great gas milage too.
by Yam the Bomb
Sun Oct 28, 2012 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Medigap policy cost
Replies: 68
Views: 38060

Re: Medicare Medigap policy cost

Could someone explain how a medicare broker is paid? Is it a percentage of total or a flat fee? cb I'm very qualified to answer that since I am one. They make a % of the premium every month for as long as you stay on the plan. They are essentially YOUR paid employee but they don't cost you a cent. They are not allowed to charge any fees and your Medicare Supplement HAS to be at the lowest cost it is sold anywhere. (You pay the same price no matter how you enroll.) A good broker will definitely save you money. They stay on top of the industry. If your rates go up (they all do eventually) they will reshop your plan for you and handle everything to get you changed over. If they also sell Medicare Advantage (the majority of agents won't fool w...
by Yam the Bomb
Sun Oct 28, 2012 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Medigap policy cost
Replies: 68
Views: 38060

Re: Medicare Medigap policy cost

If you have never been on a medicare Advantage plan then sign up NOW for one. It will take effect January 1st make sure it's an MAPD. Then on January 2nd you can sign up for a stand alone RX plan and it will dis enroll you from the MAPD on February 1st. This give you a once per lifetime GI signup for ANY company's Plan F. Choose wisely. I would lean toward Aetna or Anthem for the most stable rate histories. Stay away from any company associated with Mutual of Omaha. These would include United of Omaha, United World, Omaha Insurance Company and Gerber Life. They play a shell game with rates. You won't win. The state of Indiana has actually mailed a letter to everyone on the Mutual of Omaha Plan N to do this very thing. It's going to be very ...
by Yam the Bomb
Sun Oct 28, 2012 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: [Humana Medicare or Traditional Medicare] long term care
Replies: 2
Views: 592

Re: [Humana Medicare or Traditional Medicare] long term care

From what you have said here you should be able to make the change now and not wait for than annual election effective date which is Jan 1st. You also could change to a different Medicare Advantage plan.

Since these plans are all regional, you need to talk to a GOOD local broker or at least someone who truly understands your options. You want him to represent Humana, Anthem and United Healthcare (AKA:AARP) at a minimum. Compare what you will pay on Medicare A&B with the Advantage plans.

If you have a GI opportunity for a Medicare Supplement, that is definitely going to be. Good option for you. Be sure to ask him/her about that.
by Yam the Bomb
Sun Oct 28, 2012 7:55 am
Forum: Personal Finance (Not Investing)
Topic: The lowdown on annuities
Replies: 37
Views: 4075

Re: The lowdown on annuities

What may be part of the confusion is that many annuities are set up to pay for lifetime but "period certain".

That means it will pay the income as long as you live BUT if you died two weeks after you bought it it would pay for 5-years to your beneficiary. The beneficiary could be your spouse or kids or whoever you want.

If you are only concerned with income during YOUR lifetime, you will get the highest payout with lifetime only (when you die, it's over.)

If you have others to worry about, you would likely be willing to take a little less % and go with lifetime with 5-year period certain or 10- year period certain or whatever you are comfortable with.
by Yam the Bomb
Sat Oct 27, 2012 8:55 pm
Forum: Personal Consumer Issues
Topic: Confession + POLL: I succumbed to an iPad mini
Replies: 97
Views: 7864

Re: Confession + POLL: I succumbed to an iPad mini

When the iPad 2 came out, Verizon did a silent blowout sale of iPad 1s. They sold ALL sizes (16,32, and 64 gig) all at the same price of $299. I scooped up several of them and wish I would have bought hundreds.
by Yam the Bomb
Sat Oct 27, 2012 8:51 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life & Reduced Paid-Up Option
Replies: 17
Views: 2632

Re: Whole Life & Reduced Paid-Up Option

mephistophles wrote:
Yam the Bomb wrote:We'll have to agree to disagree.
Not so. I don't agree with anything you are saying about this specific situaton.
That's exactly what agree to disagree means. I don't buy into your way of thinking and you don't buy into mine. We just agree that we don't think the same way and we aren't likely to convince each other. So we leave it at that.

Doesn't mean we can't be friends though. They say if two people agree on everything, then one of them is unnecessary.
by Yam the Bomb
Sat Oct 27, 2012 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life & Reduced Paid-Up Option
Replies: 17
Views: 2632

Re: Whole Life & Reduced Paid-Up Option

[Inappropriate post removed by admin LadyGeek]
I've heard a LOT of arguments against buying any life insurance throughout the years. That is a brand new one though. [Response to inappropriate post removed by admin LadyGeek] Hmmmm.
by Yam the Bomb
Sat Oct 27, 2012 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Medigap policy cost
Replies: 68
Views: 38060

Re: Medicare Medigap policy cost

Yam: I'm about 8 months away from making this decision and just starting to research plans. For an apparently healthy person, why not add high-deductible Plan F to your list? In my area, the premium difference is $1,116 a year for a plan that pays Plan F benefits after a $2,070 deductible. (I could afford the deductible if my health turns bad.) Seems like a reasonable bet. Or am I missing something (which is entirely possible)? Thanks in advance. No, you are thinking exactly right. What I said is, it's not a popular plan with the general public. Most people think (incorrectly) that if they don't have insurance covering the small stuff, they have bad insurance. You are thinking right. Insurance is to cover the BIG stuff that COULD happen no...
by Yam the Bomb
Fri Oct 26, 2012 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Another Medigap Q: United versus BCBS
Replies: 42
Views: 10618

Re: Another Medigap Q: United versus BCBS

If you have the option of buying Medigap through AARP (United Healthcare) or just buying it directly through United Healthcare, which is financially the best choice, or does it make a whole lot of $$ difference? I know people who have theirs through AARP but can't answer my question. I'm considering changing from my current provider to United. Can anybody tell me? It's the United Healthcare product. The AARP logo is just the branding and marketing name. They don't sell it with and without the branding but that logo doesn't make it any better or any worse. It's just a marketing gimmick that works very well. Many seniors really do think their insurance is through AARP. And many believe that AARP is sort of like consumer reports for seniors. ...
by Yam the Bomb
Fri Oct 26, 2012 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life & Reduced Paid-Up Option
Replies: 17
Views: 2632

Re: Whole Life & Reduced Paid-Up Option

We'll have to agree to disagree. I think people are smart to re-shop their life insurance anytime their goals have changed. Of course if he has a 60-year old policy he won't likely be able to better it. But I didn't see anything in his post indicating that. As far as financial motivation from the agent, the captive mutual guys and the independent brokers are always at opposite ends. The old line captive guys try to make the point of DON'T shop, DON'T compare, just trust that I sold you the best thing in the world. The broker is ALWAYS going to be on the side of ALWAYS shop and compare. Knowledge is power. That doesn't mean you need to change. It just means it's not a waste of time to explore your options and get the facts. I guess that is w...
by Yam the Bomb
Thu Oct 25, 2012 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Medigap policy cost
Replies: 68
Views: 38060

Re: Medicare Medigap policy cost

CountryBoy wrote:But is it wise to just always go with the cheapest Rx vendor that comes up on the list after I enter the needed drugs at Medicare.gov? Doesn't one have to investigate the company to see how reliable and responsible the company is? Just because a car is cheap does not mean it will work or run reliably.

Many thanks for your comprehensive reply.

cb
You don't really interact with the company much. You fill the prescription and pay the co-pay. They all have to answer to CMS if they have complaints. And the brands that most people are most familiar with (Humana, United Healthcare, Anthem) aren't really known for outstanding customer service anyway. Your best bet is to pick the plan that has a formulary that best matches your prescriptions.
by Yam the Bomb
Thu Oct 25, 2012 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Medicare Medigap policy cost
Replies: 68
Views: 38060

Re: Medicare Medigap policy cost

To clear up a few points on this thread- When you switch Medigap plans, there is no lack of coverage for pre-existing conditions as long as you move directly from on to the new one. It's very confusing in the government pamphlets because where they discuss pre-existing clause they are talking about people who did not have credible coverage already in force. The three plans to look at are: Plan F - highest level of coverage of all plans. Pays 100% of all deductibles and co-pays not covered by Medicare. Plan G - lower premium and always a better value than Plan F. It's the exact same plan as F except you pay the $140 annual Part B deductible. You will always save between $200 to $300 per year in premium going with G compare to F. Plan N- simi...
by Yam the Bomb
Thu Oct 25, 2012 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Twins on the way!! Need term life insurance
Replies: 18
Views: 2504

Re: Twins on the way!! Need term life insurance

Zander is a good broker but very limited on the companies they offer.

Term4sale does offer many more companies than Zander. It's a great research tool. Term4sale doesn't't sell anything to the public so they show the rates of companies unbiased of what commissions they pay.

One company to pay attention to that Zander doesn't offer is Ohio National. They are often the cheapest for 20-year term in amount above $250,000. Also one of the highest AM Best rated.

Also Prudential is competitive in certain niches and is not one that Zander offers.
by Yam the Bomb
Thu Oct 25, 2012 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Can you negotiate life insurance premium?
Replies: 7
Views: 2586

Re: Can you negotiate life insurance premium?

If it's term or whole life, the premium will be the same no matter how you buy it.

If it's Universal Life or Flexable Premium Life you can make the premium anything you want. Agents will low ball that all the time to make a sale to payment shoppers. The policy will crash a few years into it if you set your premium too low on that product. It results in you way overpaid for term at that point.

Group life insurance is rarely going to cost less than an individual policy IF you are reasonably healthy regardless of any group discounts.
by Yam the Bomb
Sat Sep 22, 2012 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Medicare Medigap policy cost
Replies: 68
Views: 38060

Re: Medicare Medigap policy cost

Just how can you shop premium price on Medigap anyway - must you deal with a broker? For Part D you can easily shop price on Medicare website, but nothing comparable for Medigap there. Well I AM a Medicare Insurance broker to take that into consideration. But I can't imagine anyone who wouldn't save money and feel better about what they have by finding a good broker. And best of all...it's free. Medicare Insurance companies have to charge you the same rates regardless of how you sign up. And brokers can't charge you any additional fees. Best way to find a good one is to call your local hospital and get a referal. They probably have someone like me who puts on educational seminars at the hospital each month. He can't get into specific compa...
by Yam the Bomb
Sat Sep 22, 2012 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Switch to my wife's health insurance?
Replies: 25
Views: 2682

Re: Switch to my wife's health insurance?

Everyone has their own situations. But if you EVER plan to work for yourself rather than an employer, you are better to get individual health insurance while you are young and healthy. I personally do not want ANY of my benefits tied to a job. Give me cash. I'll buy my own benefit package. Health care reform is going down the wrong path (my opinion.) To fix a big part of the problem they need to get ALL health insurance away from employers. Everyone needs to be one big group and have access to the same plans regardless of where you work. Everyone needs to pay their own insurance premiums so they will shop and drive prices down and feel the pain of getting gouged so the country will really do something about it. Employers don't want to be in...