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Tagged With "Insurance"

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Re: Life Insurance, Disability Insurance, Wills, etc

Moore Income ·
I personally came really close to getting life insurance from the company I have car insurance with. But at the last minute they changed my insurance representative and I just never followed through with it because we had a good relationship with our previous representative and didn't know the new guy. One of the main reasons I didn't follow through was because I felt I was getting pressured but still don't have a good understanding of what to look for when it comes to life insurance. I...
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Re: Life Insurance, Disability Insurance, Wills, etc

Gee ·
Being 63 in a couple of days and in good health, I recently passed all the requirements for a universal life policy with a long term care rider. My spouse will have the proceeds if I die before her even if I’m retired and no longer have the term life policy that my job made available. And the added benefit is that I can draw $10,000 a month after 100 days of an incapacitating illness myself. It reduces the amount payable upon my death but I don’t have to die to benefit from it myself. Win-win!
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Re: Life Insurance, Disability Insurance, Wills, etc

AverageJoe ·
We need to update our wills. We used to get it updated every year when we were with a company that sold legal insurance as sales associates. Now we no longer are with that company, and haven't kept it updated. We are in the process of writing our new wills, and will file them and leave them in appropriate hands. We do realize that it's important to keep things like this updated, though, as well as having a living will and all the correct directives. I don't preach on it, but my sister asked...
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Life Insurance, Disability Insurance, Wills, etc

Nicole ·
Part of financial well-being is also being prepared to protect you & your family should something terrible happen. Do you have Life Insurance, Disability Insurance, Critical Care Insurance, a Will? If you do, how often to you make sure it still suits you & your lifestyle? (eg will only lists 2 children & now you have 3, life insurance would pay off your mortgage but now your mortgage is paid off)
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Re: Life Insurance, Disability Insurance, Wills, etc

NanaWaller14 ·
Universal Life is a ripoff! Buy Term and shop for long term care separately. You'll save money.
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Life Insurance

Christina Desgrottes ·
Dear Penny, What are some of the key aspects of a life insurance policy? I’ve been in touch with a few companies and the monthly rate for the policy ($0.5M 30yrs) that I am looking for are still affordable. How do I choose the best policy? I know the bank ratings are key but I am not sure what I should focus on and what are the right questions to ask. Your guidance is appreciated. CD
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Re: Life Insurance

Dear Penny ·
Hi @Christina Desgrottes ! Glad you've been able to get quotes at a reasonable rate. So many people wait too long and find that the premium is affordable. Ideally, you'd choose one with a level term instead of one with an annual renewable term. With a level term, your premiums will stay the same throughout the policy. It will be more expensive at the beginning, but it will probably save you money over that 30 year term. Your life is way less expensive to insure today than it is 10 or 20...
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Re: Life Insurance

PiNaY ·
If my employer provides a $75,000 group life benefit, and my mother has a 20-year term life policy for $250,000 on me, are these sufficient? Thanks.
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Have anyone used Gabi for insurance?

Pete ·
Has anyone used Gabi.com and, if so, has thoughts on the company?
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Re: Have anyone used Gabi for insurance?

Maryann ·
Hi @Pete ! I haven't used Gabi personally, but we did have a contributor at The Penny Hoarder document their experiences about the company. You can find that article here: Gabi Insurance Review .
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Re: Have anyone used Gabi for insurance?

Pete ·
Thank you, Maryann!
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Has insurance ever saved you from a financial disaster?

The Penny Hoarder ·
Have you avoided financial ruin thanks to insurance? Maybe it was a flooded basement, car accident or a hail damaged roof – we've all experienced some unforeseen event that made us glad we had insurance. But sometimes your insurance doesn't cover all – or any – of the costs of a disaster you didn't prepare for. How has insurance saved (or ravaged) your bank account in the past? Share your stories in the comments! Related content from The Penny Hoarder Best Car Insurance Companies of 2022...
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Re: Has insurance ever saved you from a financial disaster?

KPaulson ·
Yes. I experienced a horrible crime that happened to my home. A car drove into my large front window in my living room. The 2 occupants of the car, fled the scene on foot. The car was still running, got caught on base of window frame and steel rebar supports. All fluid from car drained onto carpet in my living room, shards of glass everywhere in the house. Only 1 person was caught running from the scene, this person had no driver license, only a "gaming card" from a casino in Las Vegas, and...
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Re: Has insurance ever saved you from a financial disaster?

Karen E Peyton ·
Yes, cover my roof when the snow was too heavy causing massive damage. Save me from replacing the entire roof.
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Re: Has insurance ever saved you from a financial disaster?

irishnanny ·
i have never had a claim yet i am blessed
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Re: Has insurance ever saved you from a financial disaster?

Paula Reilly ·
When we did have a claim my homeowners insurance refused to pay the agreed upon replacement value even with photos . They denied the claim because it was couture clothing and jewelry and after 2 years settled $15,000 instead of the 52,000 due
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Re: Has insurance ever saved you from a financial disaster?

Dena Y ·
We got pet insurance for our dogs and one of them ended up having to have surgery that would have cost close to $10,000 without the insurance. We were reimbursed 90% of the cost with the pet insurance plan we had.
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Re: Has insurance ever saved you from a financial disaster?

Will S. ·
Two new roofs in three years thanks to severe hail damage. Would've been financially wrecked if not for insurance! Also, we had our garage broken into and several things were stolen (like my new lawnmower). Insurance covered the cost of most of the stolen items, so long as we filed a detailed police report.
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Re: Has insurance ever saved you from a financial disaster?

Chrissy Goff ·
I was in a wreck but it wasn't my fault so the other insurers account paid the monies. I did cancel my insurance because I called to ask a question and they wouldn't answer a yes or no question without charging me my deductible. Goodbye Geico....
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Re: Has insurance ever saved you from a financial disaster?

Olivia ·
Two premies, a car accident, and a spouse's heart attack, so yes.
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