Avoid gofundme: Get a freaking Term insurance..

[pavone]

4 minutes ago, shaktimaan said:

Costco lo chudu, it's one of the best in the market. It costs me $380/yr for a 1M term insurance

carrier is Protective and they don't have living benefits. So, it is cheaper for a reason.

[hydusguy]

1 hour ago, pavone said:

Avoid gofundme by getting term protection. Sad that people pay $100/month for car insurance and not for their life. 

For all people with kids, dependents and liabilities, get a term insurance.

Things to look for, as cheapest is not always the best,

• carrier rating/comdex score
• max. living benefits
• good coversion option to perm

My recommendations in this order (based on low cost and features/benefits)

• AIG qol flex term
• North American term
• NLG/LSW

You dont own the insurance benefit from your full time job,

• no living benefits
• it is not sufficient/enough coverage
• no more coverage when retired-early, start a business, go contracting etc. Insurance will be very costly (even not eligible in some cases) if they develop medical issues.

Get it when you dont need it because you will not be able to when you need it.

 

everyone will have bro.. this is extra money which they get very soon..  insurance  goes thru claims process so it will take time.

and if we get more why to deny

[ZoomNaidu]

1 hour ago, JANASENA said:

I have a question:

US lo Insurance policy oka 20 yrs ki 1M policy teesukuni premium throught the term kattane anuko, so after 20 yrs will I get my premium money or insurance money back or nothing?

Go with whole insurance - it works for you. 
 

let’s say u pay 5000$ every year for 20 yrs, it covers life insurance through out your life and at end of 20th year, ur 100k may get 250-300k. (U’ll know the value while signing up itself). You can also take loan for 5% in difficult times and make installment payments..  

[shaktimaan]

2 minutes ago, pavone said:

carrier is Protective and they don't have living benefits. So, it is cheaper for a reason.

are you suggesting whole life vs term 

[Vaaaampire]

29 minutes ago, Thokkalee said:

If you lose your job, that benefit is gone.. it is always better to take term insurance on top of the employer provided insurance… 

So? U can always start one with next employer too? 

[pavone]

Just now, shaktimaan said:

are you suggesting whole life vs term 

what do you mean? some carriers have living benefits included by default in both their term and perm products.

I am saying Protective is the insurance carrier that Costco offers and they are a little cheaper because it doesn't come with living benefits. That is why, I said cheaper is not always best in my post.

[pavone]

3 minutes ago, Vaaaampire said:

So? U can always start one with next employer too? 

a 40yr old getting a 35year term will have coverage until age 75. But most of us retire by 60 or even earlier and will not have insurance or living benefits. May be insurance is not required at that age but living benefits is a must. I also added few more points to the post regarding this. check it out.

[chammakchandra]

1 hour ago, pavone said:

Avoid gofundme by getting term protection. Sad that people pay $100/month for car insurance and not for their life. 

For all people with kids, dependents and liabilities, get a term insurance.

Things to look for, as cheapest is not always the best,

• carrier rating/comdex score
• max. living benefits
• good coversion option to perm

My recommendations in this order (based on low cost and features/benefits)

• AIG qol flex term
• North American term
• NLG/LSW

You dont own the insurance benefit from your full time job,

• no living benefits
• it is not sufficient/enough coverage
• no more coverage when retired-early, start a business, go contracting etc. Insurance will be very costly (even not eligible in some cases) if they develop medical issues.

Get it when you dont need it because you will not be able to when you need it.

 

Do you really think all those desis opening go fund me doesn’t have life insurance ? Then u got it totally wrong!!!

[pavone]

1 minute ago, chammakchandra said:

Do you really think all those desis opening go fund me doesn’t have life insurance ? Then u got it totally wrong!!!

I don't have that info by looking at the gofundme post and there is no way to validate it. Most people in my circle don't have term insurance.

[shaktimaan]

11 minutes ago, pavone said:

what do you mean? some carriers have living benefits included by default in both their term and perm products.

I am saying Protective is the insurance carrier that Costco offers and they are a little cheaper because it doesn't come with living benefits. That is why, I said cheaper is not always best in my post.

sorry, I mistook it for whole life

how are living benefits different than ADD, short term illness and long term illness insurance since most employers provide these as well

[pavone]

3 minutes ago, shaktimaan said:

sorry, I mistook it for whole life

how are living benefits different than ADD, short term illness and long term illness insurance since most employers provide these as well

ADD is an insurance. short/long term disability are not as I think they are paid time offs.

[pavone]

44 minutes ago, ZoomNaidu said:

Go with whole insurance - it works for you. 
 

let’s say u pay 5000$ every year for 20 yrs, it covers life insurance through out your life and at end of 20th year, ur 100k may get 250-300k. (U’ll know the value while signing up itself). You can also take loan for 5% in difficult times and make installment payments..  

whole life returns are usually between 3% to 5%. With 4% return, it takes 18yrs to double the money if you fund 100k lumpsum initially. You will have less than 200k if funding $5k per year for 20yrs. Whole life is considered savings account alternative and IUL as a bond alternative.

[chammakchandra]

49 minutes ago, pavone said:

I don't have that info by looking at the gofundme post and there is no way to validate it. Most people in my circle don't have term insurance.

I personally saw ppl who opened gofund me and got life insurances 

[JUST444FUN]

2 hours ago, pavone said:

Avoid gofundme by getting term protection. Sad that people pay $100/month for car insurance and not for their life. 

For all people with kids, dependents and liabilities, get a term insurance.

Things to look for, as cheapest is not always the best,

• carrier rating/comdex score
• max. living benefits
• good conversion option to perm

My recommendations in this order (based on low cost and features/benefits)

• AIG qol flex term
• North American term
• NLG/LSW

You dont own the insurance benefit from your full time job,

• no living benefits
• it is not sufficient/enough coverage
• no more coverage when retired-early, start a business, go contracting etc. Insurance will be very costly (even not eligible in some cases) if they develop medical issues.

Get it when you dont need it because you will not be able to when you need it.

 

Ee DB lo pulkas and jeffas ki sagam mandiki unndadu insurance . 

[hunkyfunky2]

3 hours ago, Vaaaampire said:

Most of the companies offer 1-2X base pay as insurance and you can increase it to multiple X by paying $50 per month. Opt it if ur company has it

But that coverage stops when you leave it. So, take the free but don't pay extra at company.

Instead, get it then you are young - 1 mil for 20 years when you are under 40.