 If I were to die, who gets access to my life insurance benefits, if the beneficiary is a minor? |
| I want to make my son the primary benificiary to my life insurance policy, but what if I died when he was only 4 years old? If my sons father (my ex husband) got custody of my son and my son was the ... |
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 How the heck can a homeowners insurance company force you to pay for over twice the value? |
| I am just venting but I called other companies and they all say the same thing. In 2005 my policy was for $60,000.00 dwelling and today I recieved the policy and it called for over $109,000.00 ... |
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 Will Homeowners Insurance cover outside stairs? |
| The stairs of my back deck (put in long before i purchased the house) are falling apart. I havent filed any claim or called them as of yet but just wanted some information before i start the process. ... |
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 Car insurance for 17 year olds? |
Hey people, i am 17 in april and i have been looking into buying a 1983 mini mayfair with 13"alloys and arches....and thats it...
onlly a 998cc, not the fastest of cars
... |
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 Purchasing life insurance? |
| I have adult family members that I want to purchase life insurance for. A $10,000 policy each to cover funeral expenses. I know that if anything happens to them I will be responsible. I'm ... |
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 What can my husband do? |
| My husband works for AllState and the agent he works under refuses to send out flyers or mailings. He expects him to make "cold calls" all day (while most people are at work) and still ... |
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 Is life insurance taxable at payout time.? |
| So if I die and my husband collects the $, is that $ taxable?... |
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 How long should an insurance claim take to be completed? |
| My kichen was flooded 10 weeks age and the insurance company keeps changing th goals posts and askeing for different things. is this right??... |
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 Got my drivers licence? |
Is going to be the first time me getting a job so I was wondering as soon as i start the job can i purchase a cheap car right away and insurance and stuff?
and cant get student loan ... |
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 I suffer from depression & was suicidal for a while, but now im tryin to get a mortgage & need life insurance? |
| would I be better off not mentioning anything about the suicide or depression, I know the insurance won't pay out if anything happens to me but the insurance would be cheaper, how much extra ... |
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 Can we insure our health with more than one insurance company? |
| If yes, how can we get reimbursement with one one set of original bills?... |
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 Where is the best place to look for life insurance for a 73 year old without exams? |
| My father is 73 years old and is diabetic (takes daily shots). I would like to take out a life ins. policy on him, but know nothing about it. I am assuming term (maybe 5-10 years) would be the best ... |
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 Who pays for the Medicaid program? |
| Is it the gov't. or does it come out of a special tax on salaries and wages?... |
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 If my mom is borrowing my car, is she covered by insurance? |
| Here's my situation. My husband and I have 3 cars. We recently found out that I am pregnant and want to let my mom take over payments. Would we be able to put her on our insurance even though ... |
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| I had a car accident had a total loss on my car. I was hit by another driver who was at 100% fault.? |
| I incurred a back injury and visited the chiropractic doctor 14 times. I had a MRI, massages, and exercises done. I feel better now. The visit to the doctor cost me $1500 and the MRI cost me ... |
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 My wife is pregnant, and we don't have insurance, how can we pay for the baby? |
| I'm self-employed and make a decent living, but I can't afford health insurance. I bring in around $90,000 a year, but my AGI is between 35-40,000. I have two children already, and this ... |
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Guy | I'm interested in getting life insurance? |
I have 2 kids both under 2 yrs old, I'm 26 yrs old, I have no health problems. 2 of my grandparents died of heart attack, and so did 3 of their parents. I don't smoke. I am aspiring to be a chicago police officer. I've already passed the written exam. I'm looking at $1M payout to my kids, but I don't want it paid out to them in one payment, I want them to receive fixed payment monthly for the rest of their life. What life insurance policy do you recommend?? Finance specialists only!
Additional Details
I don't want to tell anyone at all about this. Not the kids when they come of age, not their mother, not my siblings, not my parents, only the company/entity responsible for distributing the funds. I guess an irrevocable trust (i think that's what they call it) is the best thing. Sanjua & Drcaryl thank you for providing the web sites. |
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rxing
|
I am no financial specialist but I am very involved in my families life insurance, and I have a great insurance expert whom I work with, My husband is 10 years older than I am and we have 2 kids , when I had my son I was 21 and we got our first policy of 500K (each of us)and then when we moved into our bid expensive house we got another 500K(each of us) Because if he died I would be screwed, and vice versa.
You should look into getting term policies, not whole life they cost alot more, at your age you could get a relativly cheap policy , but being a cop could hurt the premium, I was 26 when we got my additional and it was only 16$ a month. for whole life it would have been 350$ a month. Look into your employer about term life, they probably be the best at it because they know what their officers face. Make the kids the beneficiary, you can add a trustee to the account to distribute the cash as you see fit. Also remember that the kids will get money from social security is you die, and money from the department if you die in the line of duty. Remember to make a will, insurance goes by beneficiay. Will's cannot touch your life insurance.
For outside companies, that are reputable, use:
NY life or
Met Life
Prudential
They might be a little more expensive but are known for there honesty and name. |
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aaron p
 |
The primary thing you need to do while you are waiting on the underwriting on your life policy is meet with a lawyer to set up a trust for your kids. If you name them the beneficiary, there will be a nasty court battle and their guardian will have access to all the funds. If you create a special type of trust, the trustee will have very specific powers about how that money should be used for your children's benefit.
Talk to a life insurance broker about you policy to get it rolling. Grandparents don't usually factor into family history and certainly finding a company that doesn't care about it will be easy. The face amount will hinge primarily on your current income. A qualified broker should be able to explain this. |
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sanjua m
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please try this
<a href="http://www.anrdoezrs.net/click-174... target="_top">help!</a> |
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insuranceguytx
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You have some good answers here already.
Bottom line is that you need to talk to both an insurance agents and a lawyer. These two professionals need to coordinate their efforts. the agent can set you up with the right amount AND TYPE of insurance. Keep in mind that you CAN own both term and permanent insurance.
The lawyer can write the legal documents that you need so that if you die, a trust with very specific language will determine who and how the money from the insurance policy is used.
When dealing with large amounts of money (and a million is a lot) normal people do strange things to get their hands on it. Their desires may not always be what YOU want for your kids. Setting up the legal documents allows your wishes to be followed.
I applaud your desire to plan ahead.
Good Luck
* |
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Makotto
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Given your situation I would recommend a 20 or 30 year fixed term insurance. This means that your insurance payments will remain the same for 20 years (or 30 depending your choice). After that time the payments will jump really high on price and increase yearly.
Having this insurance for 20 (or 30) years is good because your payments will be realtivelity low for 1M and it will provide money for your kids if you pass away when they are still young.
Also I would advice to apply as soon as possible because fue to your profesion some companies might rate you up.
Good Luck |
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mbrcatz
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You need a WILL and a TRUST to set up guardianship for your kids, and then ANY POLICY can pay the trust.
Talk to your local agent about quotes. DO NOT BUY OVER THE INTERNET. |
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reymop
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I know of two agents in Chicago that would be more than willing to help you out with this and to run a free financial analysis for you and your family. Just email me if you want me to set this up for your. |
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bob_frangione2000
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This is not an insurance problem per se. What you want to set up is an annuity payment from your insurance. You can ask for this to be a part of your coverage with most policies. |
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anthonyky
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Term Life is cheaper but it expires. Whole life costs more but it is good for your lifetime. You can set up payments when you buy the policy.
Look at several companies, there are not for profit insurance companies out there like Modern Woodmen of America. |
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mp3specz
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Hello! Check this offers: http://bestinsuranceoffers.blogspot.com |
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