 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 ... |
|
 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?... |
|
 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 ... |
|
 Who pays for the Medicaid program? |
| Is it the gov't. or does it come out of a special tax on salaries and wages?... |
|
 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 ... |
|
 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 ... |
|
 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 ... |
|
 I am an uninsured driver. I got into a fender bender in a grocery parking lot? |
| It happened today. I believe it was my fault. I called the police, they said we didn't need an officer as long as noone was hurt.The other driver was so shook up she called her husband and he ... |
|
 How do you get a health insurance company to pay for a claim after it was initially denied? |
| My wife was having severe headaches and feared she had a serious medical problem. I took her in to the emergency room, they gave her a shot and a perscription and diagnosed it as sinusitis (sp). T... |
|
 Double insurance? |
| I took out two different insurance policies on my mobile phone about a year ago. (Long story....) Will "they" find out if I claim my broken phone from both insurance companies? No need to ... |
|
| Can I sue my neighbor for damages if his tree falls on my hottub? |
| The tree destroyed the cover which cost $500. We were renting the house and did not have insurance. The neighbor said he would take care of it. He did by putting on an extension and a new deck on his ... |
|
 Best life insurance? |
| i am 30 yrs old,male ,non smoker, but i am on hypertensive and cholesterol meds. what is the best life insurance i can get? how much approximately would be my monthly payment?... |
|
 Life Insurance: Variable Life vs Whole Life, which one is really better? |
| Is Whole Life premium more money than Variable Universal Life? I asked for a Whole Life insurance quote from one of the big insurance companies around, instead the agent tries to convince me that I... |
|
 Can my homeowners' insurance be different than my car insurance? |
| Silly question, but just wanted to know. Also, I have two pit bulls and was wondering which insurance agencies do not have dog restrictions. I have Nationwide car insurance and I would have to take ... |
|
 Got hit and she was uninsured? |
| woman hit me this morning and the cops came did not impound her vehicle. I called her ins. and my ins. and found out she did not have any insurance. I am covered thru my insurance, what do I do?Do ... |
|
| Whole Life vs. Term Insurance? |
| People always ask about whole life vs. Term Insurance and the insurance salespeople always defend Whole life and trash Suze Orman (not a fan of her anyway)... But they fail to prove the point with ... |
|
|  |
Junebug | Is it common practice for people to carry life insurance on their children and grandchildren? |
naming themselves as the beneficiary? |
 |
 
mbrcatz
 |
It's common for the POLICYOWNER to name themselves as beneficiary, if they aren't the insured person. That's because they're likely the ones to end up paying the funeral, if the insured person is a minor.
If the insured person is NOT a minor, the policyowner must get their permission in writing, on the application, before the insurance company will give them a policy.
Life insurance, in general, is a bad deal when you're talking about insuring children. You're much better off putting $20 a month into a cookie jar. But people do it anyway!! |
|
SuzeY
|
I'm not a believer in carrying life insurance on young children. Life insurance is intended to pay for burial expenses if there would possibly be no other way to pay for it. Statistically, most young children don't die (thank God!), so it really doesn't make much financial sense.
If you're looking to do something good for your children or grandchildren, open a 529 college savings account for them. The money is much better placed there than at some insurance company who is looking to put their name on another stadium. |
|
John B
 |
Yes it's common practice. Fifty-eight years ago my mother took out a $500 policy to pay the cost of my funeral. Now she's ninety-five and still paying it. I don't think you could bury a cat for that price now. |
|
hdoyle1967
|
Very much so, if you didn't have insurance on them and God forbit something happened and they died, how on earth would you have to money to bury them or take care of them if they become ill or physically disabled. Take care Heather |
|
cardinal
|
Hey Junebug, in answering I know it's common practice to take out insurance on your loved ones. We hope not to use it for burial purposes but that's what insurance is all about.
Later on in life, that same insurance policy will act as a savings on the premiums you've paid through the years.
I suggest calling an insurance company and asking about policies and rates. Good luck. |
|
* W
 |
I highly recommend coverage on children. Sad to say children do die. If you can't pay 5k or 7k out of pocket for final expense. Just add a simple and inexpensive Child Rider to your policy. It covers the children for a small amount and is convertable to a larger policy as they get older and have needs of their own. Make sure the policy is convertable. Do so while they are young and good health. |
|
mei-lin
|
Yes. nad things can happen to children. My good friend had a 17 year old son die in a car accident and then some years later had a grandchild die shortly after birth. 20 years ago when his son died there was no life insurance - the ex-wife wanted it handle a certain way and it ended up being over 10,000.
Many policies for children are very inexpensive and can provide not only the death benefit, but future insurability regardless of health. |
|
Lane
 |
i agree, it seems kind of , well i don't know if macabre is the right word, but you know. i was surprised how many employees here carry it on their kids- one thing, is the burial cost, as mentioned, but we have an insurance company come in and they are very good salesmen that is one reason why- they convince people they need the insurance |
|
nerdy girl
|
I have policies for all three of my kids. Never intending to have to use them in a tragic situation of course. However, the policies do have riders added that allows them to get up to an additional amount of insurance after the age of 21 or 25? This way, no matter what happens between now and then, they will have some type of insurance. Friend of mine got cancer at the age of 28, she can't get insurance at all, and even though has been in remission for several years, she is now married, with two children, and can't get life insurance.
The policies are also set up so that by the time they reach a certain age, they will have accumulated a certain amount of money which the kids can either use (downpayment for house, etc., ) or just allow it to continue to grow.
No one wants to think about the reason WHY people get life insurance, but when someone dies, there is a huge expense, and someone has to pay for it. That's what the insurance is there for. |
|
BShakey
|
Most folks who I work with these days prefer to just add a simple and inexpensive Children's Rider to their policy. It covers the kids for a small amount and is convertable to a bigger policy as they get older and have needs of their own. |
|
juliepasson622
|
Yes! I believe this is a very important thing to do. No one is promised tomorrow. When I was 17, I was diagnosed with cancer. I met many children with terminal illnesses...even babies. I can't EVER get any life insurance because of the type of cancer I had. I thought that after 5 years of being in remission that I could, but NEVER. Also, several months ago I had a cousin die in an automobile accident. Unfortunately, bad things do happen to children. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 7 minutes(s) ago
| | | |
11 | 35 minutes(s) ago
| | | |
11 | 41 minutes(s) ago
| | | |
13 | 45 minutes(s) ago
| | | |
11 | 1 hour(s) ago
| | | |
11 | 2 hour(s) ago
| | | |
11 | 5 hour(s) ago
| | | |
11 | 8 hour(s) ago
| | | |
9 | 9 hour(s) ago
| | | |
11 | 2 day(s) ago
| |
|
Homepage 
Financial
Forum 
Insurance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
