Click to go to Forum Home Click to go to maXbimmer Home

Go Back   maXbimmer Forums > Misc > Off-topic
User Name
Password


Welcome to Maxbimmer.com!

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

Reply
 
Thread Tools Rate Thread Display Modes
Old 01-06-2009, 11:33 AM   #16
Deep 3.2TL
6th Gear Member
 
Deep 3.2TL's Avatar
 
Join Date: May 2004
Location: Milton
Posts: 3,230


Do you have a Mortgage? Do you have a family? Children? Spouse?

If so - you obviously don't care about them - essentially you will F**K them if you croak. Real nice.

From your posts, I suspect you are young and still live at home. This is why you have no clue what this is about.
__________________

2007 Z4 3.0si
Deep 3.2TL is offline   Reply With Quote
Old 01-06-2009, 01:34 PM   #17
davericher20
black and blue
 
davericher20's Avatar
 
Join Date: Dec 2006
Location: 2 storey 3 bedroom 1 car garage
Posts: 3,607
Quote:
Originally Posted by Deep 3.2TL View Post
Do you have a Mortgage? Do you have a family? Children? Spouse?

If so - you obviously don't care about them - essentially you will F**K them if you croak. Real nice.
Umm, screw them how? by not being protected?

Yes sir.

No it's not nice.

You don't wear a condom, your girlfriend gets pregnant, you have a baby that you're not prepared for. She can't go to school cause she's taking care of the baby. You can't Finish school cause you need to provide money. So you take the first thing that comes your way. And for the next 10 years you live in poverty because you got stuck in a rut. You try to go back to school but you can't afford it on your income. You get a loan for school, the economy sours, you lose your job. Go bankrupt, get divorced, and you commit suicide.
All because you didn't protect yourself.

Not a nice way of putting it is it?

What is NICE? sugar coating it?
__________________


Quote:
Originally Posted by JINT View Post
Some people have serious track experience from the cruise, so what is fast to you, isn't fast to them.

Last edited by davericher20; 01-06-2009 at 02:31 PM.
davericher20 is offline   Reply With Quote
Old 01-06-2009, 02:37 PM   #18
davericher20
black and blue
 
davericher20's Avatar
 
Join Date: Dec 2006
Location: 2 storey 3 bedroom 1 car garage
Posts: 3,607
Quote:
Originally Posted by Deep 3.2TL View Post
From your posts, I suspect you are young and still live at home. This is why you have no clue what this is about.
I have nothing to prove to you Mr. Sherlock Holmes.

I don't give a F*** what you believe my stage is in life.

I really don't see a reason why you're attacking this.

Why don't you share with us "what this is about"
__________________


Quote:
Originally Posted by JINT View Post
Some people have serious track experience from the cruise, so what is fast to you, isn't fast to them.
davericher20 is offline   Reply With Quote
Old 01-06-2009, 02:43 PM   #19
Deep 3.2TL
6th Gear Member
 
Deep 3.2TL's Avatar
 
Join Date: May 2004
Location: Milton
Posts: 3,230
Dude - calm down - that post was for Miro - not you.

He said we are all wasting our money on life insurance. It's HIM that I said doesn't care about his family's financial situation if something, god forbid, were to happen.

Take a second and BREATH buddy...
__________________

2007 Z4 3.0si
Deep 3.2TL is offline   Reply With Quote
Old 01-06-2009, 03:45 PM   #20
Paul540/m3
BMW Individual
 
Join Date: Feb 2004
Location: Toronto
Posts: 2,807
Send a message via MSN to Paul540/m3
Wow this sounds an awful lot like a Primerica Financial seminar.

I agree any life insurance is better than none, and there are some quirks that many must watch for when purchasing insurance.

What the OP is not disclosing is, when your term insurnace has expired, lets say 20 years, you will be significantly older with the possibility of more health problems and therefore significantly higher risk to insure. Therefore when you go to get a new term contract your premiums will be much higher, if you can get insured at all.

There are 2 sides to every story. Take everything with a grain of salt.
__________________

Last edited by Paul540/m3; 01-06-2009 at 03:50 PM.
Paul540/m3 is offline   Reply With Quote
Old 01-06-2009, 11:08 PM   #21
davericher20
black and blue
 
davericher20's Avatar
 
Join Date: Dec 2006
Location: 2 storey 3 bedroom 1 car garage
Posts: 3,607
Quote:
Originally Posted by Deep 3.2TL View Post
Dude - calm down - that post was for Miro - not you.

He said we are all wasting our money on life insurance. It's HIM that I said doesn't care about his family's financial situation if something, god forbid, were to happen.

Take a second and BREATH buddy...
I am so sorry,

my bad.
__________________


Quote:
Originally Posted by JINT View Post
Some people have serious track experience from the cruise, so what is fast to you, isn't fast to them.

Last edited by davericher20; 01-06-2009 at 11:12 PM.
davericher20 is offline   Reply With Quote
Old 01-06-2009, 11:30 PM   #22
davericher20
black and blue
 
davericher20's Avatar
 
Join Date: Dec 2006
Location: 2 storey 3 bedroom 1 car garage
Posts: 3,607
Quote:
Originally Posted by Paul540/m3 View Post
Wow this sounds an awful lot like a Primerica Financial seminar.

I agree any life insurance is better than none, and there are some quirks that many must watch for when purchasing insurance.

What the OP is not disclosing is, when your term insurnace has expired, lets say 20 years, you will be significantly older with the possibility of more health problems and therefore significantly higher risk to insure. Therefore when you go to get a new term contract your premiums will be much higher, if you can get insured at all.

There are 2 sides to every story. Take everything with a grain of salt.
Here's a quote from my OP.

"""But do you need life insurance for your whole-life?

Absolutely not!

In the early years, you have alot of responsibility, but not alot saved, so you need to insure the discrepancy.
In the later years you have less responsibility, but you have alot of money saved. So you don't need insurance anymore."""

I did mention it, but you brought up a good point.


I would hope that you are saving for your retirement.
If you are, great!

When you're retired, are the kids still at home? No.
Do you have a mortgage anymore? No.
Do you have any other significant financial liabilites when you're retired? No.

At least I hope not.

And if you're retiring, you would have I would hope over $500,000 to $2 million saved up. Hopefully more.

So. If you have no need to insure anything. And you have enough money to cover anything anyways even if you did have all those liabilities....................You don't need it.

You get rid of it.

You're Self Insured.

To answer your comment about the premiums rising.

You're right.

After the term is ended, lets say after 10 years. The premiums rise.

In fact, They SKYROCKET!
It sucks. I know.

BUt luckily, there's such things as 10 year term, 20 year Term, 25 year term,30 year Term, 35 Year Term,
Hold on, this came out a couple years ago.

40 Year Term.

So that's settled then.
__________________


Quote:
Originally Posted by JINT View Post
Some people have serious track experience from the cruise, so what is fast to you, isn't fast to them.

Last edited by davericher20; 01-06-2009 at 11:47 PM.
davericher20 is offline   Reply With Quote
Old 01-06-2009, 11:44 PM   #23
davericher20
black and blue
 
davericher20's Avatar
 
Join Date: Dec 2006
Location: 2 storey 3 bedroom 1 car garage
Posts: 3,607
Quote:
Originally Posted by Jim .E. View Post
I pay $13.25/month for $250k with TD bank for Life insurance. That's pretty much all I know about it.
I would look more into that.

I took life insurance out when I was 18 to cover my funeral.

minimum premium was $15.00, so I got

$30,000 for $15.65 a month.

What I think you have is accidental death insurance.

Or you're sleeping with an underwriter.

$13.25 for 250k is a red flag.

Here's how accidental death insurance works.
It covers you in case you die from an accident.

What is their definition of an accident?

I know what mine is. "driving along, a tree gets struck by lightning, tree falls on my car killing me instantly."
The morgue/autopsy says I died of head trauma and a massive heart attack.

The bank says I died of head trauma and a heart attack,

not by accident? No, that's what the autopsy says. Sorry.

You wanna know what percentage of Accidental death insurance policies pay out?






2%


hahahahahaha

They're printing money!!!!!!!!!!!!!!!!!!!!!

It's also an option on most life insurance policies. You sometimes see the commercials advertising........

"And if you die by accident, We will TRIPLE your coverage!!!!!!"

Call your bank Jim.
__________________


Quote:
Originally Posted by JINT View Post
Some people have serious track experience from the cruise, so what is fast to you, isn't fast to them.
davericher20 is offline   Reply With Quote
Old 01-07-2009, 12:19 AM   #24
Deep 3.2TL
6th Gear Member
 
Deep 3.2TL's Avatar
 
Join Date: May 2004
Location: Milton
Posts: 3,230
^^^ I pay about $15 for $250K with Manulife and it is definitely TERM 10 Yr life insurance - In fact, we just reviewed all the paperwork for our wills recently.

My wife's is a little less.

The price he's paying isn't unheard of.
__________________

2007 Z4 3.0si
Deep 3.2TL is offline   Reply With Quote
Old 01-07-2009, 01:16 AM   #25
davericher20
black and blue
 
davericher20's Avatar
 
Join Date: Dec 2006
Location: 2 storey 3 bedroom 1 car garage
Posts: 3,607
If it's 10 year term, then no it's not unheard of. Anything over 10 years is.
__________________


Quote:
Originally Posted by JINT View Post
Some people have serious track experience from the cruise, so what is fast to you, isn't fast to them.
davericher20 is offline   Reply With Quote
Old 01-07-2009, 01:19 AM   #26
lvan
6th Gear Member
 
lvan's Avatar
 
Join Date: Feb 2004
Location: Location
Posts: 5,226
Send a message via MSN to lvan
I think same goes for credit card insurance. Many people had it and it was there for nothing. That's what I was told.
__________________
-2013 Mercedes Benz C300 Sport
-2006 Bianchi Reparto Corse - Handmade in Italy (Does your bike need a pro-tune up? PM ME)
-1991 BMW 318i (SOLD)
lvan is offline   Reply With Quote
Old 01-07-2009, 01:29 AM   #27
lvan
6th Gear Member
 
lvan's Avatar
 
Join Date: Feb 2004
Location: Location
Posts: 5,226
Send a message via MSN to lvan
How about $30 dollars per month with state farm for 20k policy that can be terminated anytime. She said this is cashback version. Any decent opinion? Seems high but when I add car insurance, it goes to $20!
__________________
-2013 Mercedes Benz C300 Sport
-2006 Bianchi Reparto Corse - Handmade in Italy (Does your bike need a pro-tune up? PM ME)
-1991 BMW 318i (SOLD)
lvan is offline   Reply With Quote
Old 01-07-2009, 02:05 AM   #28
davericher20
black and blue
 
davericher20's Avatar
 
Join Date: Dec 2006
Location: 2 storey 3 bedroom 1 car garage
Posts: 3,607
Quote:
Originally Posted by lvan View Post
How about $30 dollars per month with state farm for 20k policy that can be terminated anytime. She said this is cashback version. Any decent opinion? Seems high but when I add car insurance, it goes to $20!
A certain company is notorious for exactly that.

TIED SELLING

and it's illegal.

They have to give you the $20.00 deal without the car insurance.
__________________


Quote:
Originally Posted by JINT View Post
Some people have serious track experience from the cruise, so what is fast to you, isn't fast to them.
davericher20 is offline   Reply With Quote
Old 01-07-2009, 02:16 AM   #29
davericher20
black and blue
 
davericher20's Avatar
 
Join Date: Dec 2006
Location: 2 storey 3 bedroom 1 car garage
Posts: 3,607
Quote:
Originally Posted by lvan View Post
I think same goes for credit card insurance. Many people had it and it was there for nothing. That's what I was told.
Here's a blip from Consumer Reports Magazine.

It's called 10 insurance policies you don't need. July 2004

1. Mortgage insurance
2. Credit Card loss protection
3. Car Rental Insurance
4. Flight Insurance
5. Cancer Insurance

6. CREDIT LIFE INSURANCE ----Credit-Card Companies, banks and other organizations that finance a purchase or lend money offer policies that repay a loan if you die. Average payout is $4,500 for a yearly cost of $23.
That's alot of money when a healthy non-smoking male of 40 can buy $100,000 of 10 year level Term coverage for about $100 a year.
Instead- Make sure you have enough Term life to cover loan payments.

7. Credit Disability Insurance
8. Involuntary unemployment insurance

9. ACCIDENTAL DEATH INSURANCE-----Your Heirs collect a benefit if you die in an accident. Cost runs about $600 a year.
"Only about 5% of those who die each year do so in accidents" however.
Instead stick with Term-Life insurance, which pays regardless of cause of death.

10. Identity theft insurance.
__________________


Quote:
Originally Posted by JINT View Post
Some people have serious track experience from the cruise, so what is fast to you, isn't fast to them.
davericher20 is offline   Reply With Quote
Old 01-07-2009, 02:42 AM   #30
lvan
6th Gear Member
 
lvan's Avatar
 
Join Date: Feb 2004
Location: Location
Posts: 5,226
Send a message via MSN to lvan
^Thank you. I will give them a call.
__________________
-2013 Mercedes Benz C300 Sport
-2006 Bianchi Reparto Corse - Handmade in Italy (Does your bike need a pro-tune up? PM ME)
-1991 BMW 318i (SOLD)
lvan is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT -4. The time now is 11:12 AM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.
Maxbimmer Copyright 2001 - 2015