 What is Insurance? Please help me:)? |
| I am 14 almost 15 and will be getting my car when i am 16 of course but i might have to pay for my own insurance and I know nothing about it so could you guys please fill me in?... |
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 Can i get health insurance for my girlfriend? |
| I work with company that has medical benefits so I have insurance. My girlfriend has become ill and is in need of health insurance. Can i put her on my plan even though she isn't related to me. W... |
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 Insurance question regarding a condo? |
| I own a condo and have condo owner's insurance + the blanket policy for the unit. There is a leak above my condo's patio door caused by faulty stucco on the exterior. I have requested my HOA... |
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 Will ins pay for flood damage if we dont have flood ins? what if its coming from the sewers? |
| My county has been declared a state of emergency and my basement has flooded at least twice in two weeks by about a foot. last time there was a neon tetra swimming in the water whicch tells me its ... |
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 Can i take out a life insurance policy on anyone? |
We have tried to get him treatment and he won't. his mom needs the money....should i do it
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He is on drugs bad.....could i do it?... |
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 Anybody know of any car insurance co's that will give car insurance policies to 17 year olds?? |
| I have a 17 yr old that has already gotten 2 tickets so I want him off my policy - as he is making it too not less expensive for me to afford -... |
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 What kind of insurance is this? |
| As a doctor, if you mess up, and someone sues you, you need to have insurance for that. What is this insurance called?... |
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 How can I find out who my neighbors house insurance company is? |
| My neighbors will not let us know and we need to contact them. Thank you.... |
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| Will homeowners insurance cover damage to my attic caused by snow? |
| So much snow piled up on my roof that several of the 2"x6" beams that run diagonally vertical toward the apex cracked. The weight of the snow apparently was too much. I'm concerned ... |
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 I need a knee surgery? if i get medical insurance. it will cover the 5500 i need? |
my question is when i get interviewed for insurance, should i not tell him about the bad knee so they will take me?
i know the surgery will help and i can just wait a month and say i had a ... |
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 I joined an expensive gym about 6 months back and find myself never going, i called and tried to cancel? |
| the membership saying it was medical problems (I was lying...I know I am sorry...not really though, this gym is over priced) but the lady said I needed to present a doctors note in order to have get ... |
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| Do I need flood insurance for my condo unit or the building as a whole? |
| My mortgage company recently sent a letter stating that we need to provide proof of flood insurance. Fema has now declared my address is in a flood plain. Wouldn't the building need to be ... |
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 My car was inside a garage that cought fire will the home owners unsurance cover the damage? |
My fathers garage cought fire on friday he is insured by state farm unfortunately my car was inside of the garage.
I whant to now if my fathers insurace will cover personal damage to my property.... |
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| Life Insurance? |
| I had a child in 2007.. is it necessary for me to get life insurance? Why.. and what is the best carrier (in your opinion) to use? Also, what rules do I need to know before I opt to get it? Thanks.... |
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ldeweyjr | How can I help my wife and family manage my life insurance benefits after my death? |
I have about $1.3 million in life insurance benefits. My wife is not very good with managing money and I'm worried that if something should happen to me, she will run through it in a few years. She's a great wife and mom and she always means well but she has no concept of how to manage money.
Additional Details
Thanks to InsuranceAgent, who provided the "central theme" but my problem isn't with lack of trust, rather lack of knowledge. Similarly, I "trust" that my wife will take care of our vehicles if I should pass, but I can't see her overhauling the engine herself. Thanks for the sarcasm though. |
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saberhilt
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Despite some of the snark, "InsuranceAgent" makes a good point. Leaving your life insurance to a Trust will ensure that the money is there for the long haul.
As for her "No concept of money," can you get her to take a book keeping class? Or perhaps give her some money to put in the Stock Market. If she loses it all, that might shcok her money sense a bit.
As another option, I suggest playing (there are groups that meet for free, or you can buy the game board yourself) Cashflow 101. This game is kind of like Monopoly, but much more advanced. It deals a lot with How to Handle your Money. It was designed as a tool to teach investing, but it is very useful to get people to recognize their money for what it is. |
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Jason S
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I would recommend using a Trust as well. We all trust our spouses and family, but in a situation like this, a small personality quirk could lead to her being without money which would be a horrible thing. A trust would not only pay for her bills, but would give her a monthly income to do whatever she pleases with. It may take a bit of getting used to on her part, but it would be much better for her in the long run.
Good luck! |
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sudha k
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Try out any company or contact any broker |
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skylarksue
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if you set up a trust and or use annuities to transfer your assets. you can then have them allot a certain amount for her use at set intervals, or lumps sums only at certain times. a good insurance agent can help you re-allocate your assets into these controlled distribution accounts. |
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Princess Leia
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Perhaps you should set up a trust which sets forth the amount of money you want your wife to be provided monthly (obviously enough to live on after you pass; you may want an economist to estimate that amount). Name the trust as the beneficiary of the insurance benefits. Possibly a spendthrift trust.
I would consult an attorney who specializes in trusts.
You may also want to get some type of mortgage insurance that says when you die, the mortgage on your house will be paid off in full (so that your wife won't have to worry about that). |
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aaron p
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A trust with at least one professional trustee is a good bet. You can also talk to your current advisory team and make sure that they understand they should take care of her and be patient with her questions if you are no longer there. |
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LifeInsuranceAgent
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Put it in a trust with a trustee you trust to ensure that your entrusted professional will oversee the proceeds in the trust so that your wife is not entrusted with all the money upfront, but rather receives money from the trust as dictated by the trust agreement, and that the trustee carries out your wishes.
notice the central theme?
I think we are thinking of two different definitions of trust.
I'm not talking about trust as in ethics, morals, etc..I'm talking about trust funds.
If you setup a trust fund to be the owner and beneficiary of the policy, you can dictate the terms of that trust, which would in turn dictate things such as the use of the trust proceeds.
For example, the $1.3 million goes into the trust upon your death. You had already setup the terms of that trust determining how much could be spent each year, for what purpose such as education, housing, fun money, etc..
That way you can ensure that the money lasts. |
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Roy S
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hi, Check this out...www.roysummers.yournewfortune.com.... to Audio.. |
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