My life no longer has any value

[chargervert]

No fancy lunch for you next year (since you're now worthless)
Think of the savings.
View attachment 1907981

Eating pretty poorly, I wouldn't insure you!

 

[WileE]

I made a mistake, it's $64.66.

Holy freakin' cow, you're devaluing faster than a dollar during Bidenflation.

 

[1 Wild R/T]

Way I see it you now have a better chance of living a long life, the Wife has one less motavation for killing ya....

 

[kiwigtx]

Now that I am wiser and no longer in the business, I have come to realize that the Insurance business is nothing more than a Ponzi scheme that runs on fear and intimidation tactics to solicit hard-earned $$$s from the average individual and to line their coffers with those hard-earned $$$s. Nothing but GREED for those greedy Bastards!!!

 

[MarPar]

My parents bought a life insurance policy for me in high school. It was for when I had kids, my fam would be covered. Well, didn't have any kids, so the old man came to me last year and said, here this is for you.

I am literally going through the process of converting it into an annuity for part of my retirement as we speak.

My Homeowner's policy went from $1150.00 to $2100.00 in three years! Northern Illinois and a 1400 sq. ft. house with a garage!

You've seen my house Paulie and you know it aint no friggin mansion. My policy went up $1253 from last year to this year alone!! No claims, pay yearly and been with them 5 years. F Auto Owners Insurance!!!

So I call my agent and say wtf?!? He wound up getting me a policy at half the price earlier today. My policy does include an $5M executive umbrella, but that's only like $800/year through either policy.

F'n crooks the lot of em.

 

[68-500]

Ive almost bought term life insurance like 4 times. When its time to write the check. I just can’t throw that money away.

 

[Fran Blacker]

Have $5k life policy my mother bought when I was 20. A few times I paid $110 to keep going but now it pays itself and I get a check $$ coffee money. My mother figured her crazy son was going to get killed, she'd be stuck planting me.

 

[Unkle Krusty]

A good broker can show you a variety of different policies. And explain the options.
There are some policies with a level premium to age 100.
Obviously they are a bit more money than straight term.
The average chance of dying in a year is about 1 in 1000.
So a 200,000 policy will cost about $200 per year, plus a policy fee. If you pay twice that, it is still pretty cheap. The extra can accumulate tax free. And pay out a death benefit tax free. If you delay, to about age fourty then the chance of dying about doubles, and goes straight up, So obviously insurance will cost more.
I was paying nothing on my policy, and cashed it for about $62,500 a couple of years ago. The down side was that money was taxable as income. I am still arguing with the Feds about this. But the money went towards my new house, so I am mortgage free, and did not touch my rainy day fund.
I do not like life insurance is a simplistic approach. There is a need for most every situation. The average working family guy, can not afford anything fancy. Coverage from a work policy can be cancelled with 30 days notice from the insurance company. Not a good way to plan financial affairs.
States make rules in the US, with New York the toughest.
Here we use the Federal rules.
Some universal life policies have guaranteed mortality charges. Either yearly term, or term to 100.

 

[zyzzyx]

Bottom line is if you buy whole life when you're young, It's cheap (for the life of the policy).
If you buy it when you're 40, it's gonna bite you in the but! They have to invest those premiums to pay you off
later, or lose big if you die right away. At least with whole life you have something in the end!

 

[1967coronet]

My parents bought a life insurance policy for me in high school. It was for when I had kids, my fam would be covered. Well, didn't have any kids, so the old man came to me last year and said, here this is for you.

I am literally going through the process of converting it into an annuity for part of my retirement as we speak.


You've seen my house Paulie and you know it aint no friggin mansion. My policy went up $1253 from last year to this year alone!! No claims, pay yearly and been with them 5 years. F Auto Owners Insurance!!!

So I call my agent and say wtf?!? He wound up getting me a policy at half the price earlier today. My policy does include an $5M executive umbrella, but that's only like $800/year through either policy.

F'n crooks the lot of em.

Same here in Iowa, Auto Owners on our house went up $1,400 per year and no claims.
We switched to United Casualty it was plus 400 over previous year but at least not $1,400. Same coverage and deducts.