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New life insurance policy


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I applied for a new one today.  My agent seems to think I'll be a lock for a good rate as he deals with older folks all the time and in his opinion I don't look like them.

I suppose that could be taken any way you choose.

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7 minutes ago, Razors Edge said:

Rates are decided on looks?  Sweet! 

It's true.  They should be paying me.

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10 minutes ago, sheep_herder said:

I've not gotten anymore after cashing my policy in to buy the boat.

My family expects for me to pay their way for a couple of years after I'm gone.

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1 hour ago, sheep_herder said:

I've not gotten anymore after cashing my policy in to buy the boat.

I'm not buying life insurance after I leave my employer.  I was automatically wrapped into a group discount provided for employees...when I was hired into the organization.  We have had the rare employee die during their employment with us....cancer, suicide (I heard of one...I suspect another one), etc.

No value when one doesn't have children and dearie is enough yrs. older than I.  He hasn't gotten any either for many years.  

Life insurance makes more sense where there are young children, etc.

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1 hour ago, maddmaxx said:

I applied for a new one today.  My agent seems to think I'll be a lock for a good rate as he deals with older folks all the time and in his opinion I don't look like them.

I suppose that could be taken any way you choose.

As long as he didn’t start the paperwork to pay your beneficiaries..

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16 minutes ago, groupw said:

As long as he didn’t start the paperwork to pay your beneficiaries..

Yes...you don't want to be worth more dead than alive. You have to sleep with one eye open

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2 hours ago, shootingstar said:

I'm not buying life insurance after I leave my employer.  I was automatically wrapped into a group discount provided for employees...when I was hired into the organization.  We have had the rare employee die during their employment with us....cancer, suicide (I heard of one...I suspect another one), etc.

No value when one doesn't have children and dearie is enough yrs. older than I.  He hasn't gotten any either for many years.  

Life insurance makes more sense where there are young children, etc.

I had the option of keeping my employers $50,000 life insurance policy after I retired, but the premium I'd have to begin paying was a rip-off if I lived to late 70's or later so I dropped it.

I have enough money in the bank, investments, savings bonds, etc. to pay for my funeral. At some point, I'm going to go to our local family-friends-owned funeral home and pay for my funeral up-front.  If the grim reaper gets me ahead of time, my sister can cover it until she inherits half of my estate.

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13 minutes ago, MickinMD said:

I had the option of keeping my employers $50,000 life insurance policy after I retired, but the premium I'd have to begin paying was a rip-off if I lived to late 70's or later so I dropped it.

I have enough money in the bank, investments, savings bonds, etc. to pay for my funeral. At some point, I'm going to go to our local family-friends-owned funeral home and pay for my funeral up-front.  If the grim reaper gets me ahead of time, my sister can cover it until she inherits half of my estate.

I would think disability insurance during employment, if a person's employer doesn't cover it, is far more practical and useful for a person. I truly am grateful for my employer's health and other benefits pkg., when I had my concussion.  I was off from work for 5 months.  My salary was lowered during those months but I wasn't totally without any income during those months.  I also under doctor's orders, had to transition back part-time for a month before full-time normal hrs. Disability from injury, serious sickness is far more common than sudden death.

I only had life insurance when I was with any employer who had it as part of the benefit pkg. and would drop it if I could.  But no choice, since that's how an employer offers it...  So it was automatically deducted from paycheque.

I was slightly amazed at work, a woman in her early 30's already bought her graveyard plot. Just after she bought her house with a mortgage..

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3 hours ago, maddmaxx said:

New life insurance policy.     I applied for a new one today. 

Who's idea was this?   If you are worth more dead than alive....  I don't want to see your story explained in one of the 'murder' shows on TV in a few years.

It's amazing how many people are murdered for the insurance money.  

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3 hours ago, Razors Edge said:

Rates are decided on looks?  Sweet! 

I am screwed

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I had term insurance with the rate locked in for many years. At age seventy the term was up so I planned to drop it. I got a surprise when they offered to let me keep it at triple the rate. That is a bargain because I probably won’t live much longer.

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15 hours ago, maddmaxx said:

My family expects for me to pay their way for a couple of years after I'm gone.

"My family" should begin and end with your wife.  If your kids want a revenue stream after you are gone, they can buy and pay for life insurance on you.  Years later, when your wife also passes, they can have the remains of the estate.

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