Checking Email, Death, Life Insurance

derg

derg

Apparently a "terse" writer
Staff member
How are all three related?

I get a boat load of email and if I don't have a high speed connection available on the road, it can take easily 10 minutes to download everything.

So I didn't check my email for about a day and a half.

Today, back at home, I downloaded my email to discover that one of my friends (and fraternity brothers) from college passed away the 20th and his funeral was this saturday.

Major bummer.

Which leads into the "life insurance" topic.

Scot (one "T") was 34, just a year older than I am. How many of you have term life insurance? We always think about that stuff when we're older, but even if you're young, single and no kids, pick up some good 30-year term life insurance while your rates are low because as we've seen over the past week with airplane crashes, Aloft's sister and my friend Scot, You "never know" and you want to protect your family.
 
When we had baby #1 we went through and organized our insurance & death benefits 'file'.

We should probably get more. Also, (and we have not done this yet) is to create a file with copies of all insurance & benefits policies, with phone numbers highlighted of who to call in the event of death. Just so everything can be found easily in one place, and not have to hunt through the whole file cabinet to locate the information.

Certainly not something you want to think about, but after 9/11 I live every day with the knowledge that anything can happen, at anytime. Take nothing for granted, and be prepared.
 
It's one of those things that we never think about. . .but it happens, and it could happen to any of us any day. It's going to happen to ALL of us eventually.

Gotta have that life insurance. It's not for you, it's for the people you love!
 
This sounds like I'm selling insurance, but I'm not. At least I hope I don't have to but if I was in my early twenties, I'd pick up $1,000,000 of 30-year level term insurance. $500,000 of 30-year level term only costs me about $650/year but the younger you get it, the far cheaper it is. I just ran got an online quote for a "21 year old named John Doe" on a website and it's like $600 for a $1 million. If you wait until you're 40, that same rate is like $1500/year.
 
If you don't have any dependants, you don't need life insurance. (unless you just really like your parents, and want them to get a big check when you die.)



If you do have sombody who is depending on you to bring home a paycheck, then you need Life insurance. If you should die unexpectedly, then they would have money to continue without too much financial hardship.

If you are married, but your wife works, then you only need enough to burry you and pay off your debts.

If you have kids you need 10x your income. Your wife can invest this entire amount, and can live off the dividends. At a 12% rate of return this will replace your income and keep up with inflation.


If you ever run across some bible thumper who says "I don't have any insurance because I have faith that God will take care of my family." Beat them over the head with a blunt object until they come to their senses. God helps those that help themselves.
 
Doug, my wife and I just took out term life insurance policies that would MORE than cover our expenses (i.e., pay the mortgage off, all our bills, with a good amount left over) should (GOD FORBID) something happen to one of us.

It's not an easy subject to think about, but the older we get, it's something we think of out of necessity.

I went through AOPA (Minnesota Life) for the policy on me. My wife went through her employer.
 
If you don't have family or dependents, no you don't need insurance. Very true.

But if you get some early, like Chicaga, by the time you decide to have family and dependents, you've already frozen in that low rate (which is why I suggest 30-year level term)

More people that one would think 'conk out' early. I know a guy who I used to fly with in MCO quite a bit that during breakfast before a trip, had a fatal anueyrism (sp?) and went face first into his cereal bowl.

No insurance.
 
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If you don't have any dependants, you don't need life insurance.

[/ QUOTE ] If you PLAN on having dependants some day, you should go ahead and do it now. You may develop diabetes or something that would cause you to be uninsurable of have way too high of rights, so better to lock in the price while you can.

We have a policy on Corbin. The other yucky thing you have to do is name a contingent beneficiary and decide who would be given custody of your children. And it DOES happen, we lost Corbin's uncle in a car accident 3 years ago, Christmas Eve. Left 4 children that were high school and college age. Luckily all the life insurance and wills and everything was taken care of.
 
I have enough to cover funeral expenses for me and all children, but not a big policy like Corbins. He wouldn't suffer as much of a financial loss w/o me so he said not to bother with any more than that.
 
Re: Checking Email, , Life Insurance

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I have enough to cover funeral expenses for me and all children, but not a big policy like Corbins. He wouldn't suffer as much of a financial loss w/o me so he said not to bother with any more than that.

[/ QUOTE ]
It might be prudent to re-think that a little. If he loses you (God forbid) and has to pay for child care and house cleaning service and everthing else that has to be done that you are now doing, it'll cost more than you guys might think.
 
Re: Checking Email, , Life Insurance

I've talked to him about that, neither of us would want child care outside of the family, his parents are available for that and we'd be much more comfortable w/ them over strangers. And he could handle the house keeping. I worked insurance for almost 5 years so I have given him all the scenarios I could think of and he is ok with the amount we have. We are very close to family and I guess he kind of figures if something were to happen, he knows he could count on his whole family to help him with what ever he'd need. And if it happens later in life when he's making a reasonable salary, he could afford what ever other monetary loses he has. I even thought it would be nice just to leave some money whether it's needed or not, just because, but he doesn't agree. Oh well. I pick my battles and when it comes to this, well, I am not going to go out of my way to make sure I'm worth more dead than alive! LOL. Never know, he could get in a mood one night and......jk.

I did also want to say to you guys especially who all think you are invincible--Corbin is average size and average weight but if we hadn't got this policy on him, we'd never have known that he had cholesterol and triglyceride problems. Now we can take care of it before it's a medical issue--thanks to the blood work they do on you. So one more reason to get a policy!!
 
Re: Checking Email, , Life Insurance

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Now we can take care of it before it's a medical issue--thanks to the blood work they do on you. So one more reason to get a policy!!

[/ QUOTE ]

Or have a regular annual doctor visit....
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Re: Checking Email, , Life Insurance

He does-they don't do that blood work in the annual visit, not even for his medical. Maybe they would if you asked specifically??
 
Re: Checking Email, , Life Insurance

Very good! Glad to hear you've worked it through and everyone's comfortable with the decision. That means it's the right decision for you guys.
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Re: Checking Email, , Life Insurance

They don't do any blood work for an FAA medical, but they should for an annual health exam. When I do my annual visit, they do blood work for everything from A-z. It's called preventative medicine. Almost any illness will manifest itself in the blood before it manifests itself anywhere else.

If you or Corbin are going to the doctor annually, and they aren't doing lab work, then you aren't getting a very complete medical exam. Might want to talk to the doctor about that.

You shouldn't have to do an insurance blood test to find out about your health....
 
Re: Checking Email, , Life Insurance

I'll have to ask our dr and our insurance company. It's never been standard at any dr either of us have been to, to have blood work done.
 
Re: Checking Email, , Life Insurance

That sucks....how else can the doctor know if everything is ok.....by your breathing and blood pressure? The only thing they'll find then is high blood pressure and a bad chest cold!!

Of course, it's common knowledge that HMO's like to "encourage" doctors to skip all of those silly tests....they just cost more money, you see...

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Re: Checking Email, , Life Insurance

We don't have an HMO so that's not the problem. Not sure why they don't check. The annual is usually just blood pressure, weight check, look in your ears and throat and nose, listen to your chest. Oh, and well that one other part they do for women. It seems to me like a good idea to have cholesterol and stuff checked at lest every 3 years or so, otherwise you only find out there is a problem if you ask for it to be checked. I wonder if it has anything to do w/ our age? Maybe they start checking more things when you get older?
 
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