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after reading CANMORES post,who has life ins. for the fam??

Discussion in 'The Lounge' started by boggerless, Nov 22, 2005.

  1. boggerless

    boggerless 1 ton status Premium Member

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    if not for the wife and kids at least so your parents aren't stuck with a $10.000 bill. i have $100.000 right now. i'm worth more dead. :haha: after my mom died two years ago i found out how expensive that burial crap is. :yikes: i told the wife to just throw me in a dumpster and spend the loot on something cool. :D she won't go for it,BUT i found the cheap ass way out.HA HA donate you body to a university. :laugh: a guy i worked with did it and all the fam had to pay for was the wake. :bow: :bow:
     
  2. kyser_soze

    kyser_soze 1/2 ton status

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    Hmmmm. You got me thinking about this one. :thinking: :deal:
     
  3. Stomper

    Stomper ΜΟΛΩΝ ΛΑΒΕ GMOTM Winner

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    I'm single and have it. Have had it since I was a teenager. Not that I have any dept but like you say, the funeral cost are nuts and I don't want my family to have to take care of the bill...
     
  4. Can Can

    Can Can Pusher Man Staff Member Super Moderator

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    I have really cheap coverage through our group plan at work. Let's just say if I died in an accident Kim would be REALLY, REALLY RICH!!!!! Like Boggerless, I'm worth way more dead than alive......
     
  5. spincast375

    spincast375 1/2 ton status

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    Classic financial planning says one should have 5-6 times your income. I bought cheap term life years ago; an excess amount because it was so cheap. I, too, am worth more dead than alive, about 12 times my income. I forced the wife to buy a simple quarter mil term life policy. That would pay off the house and car. I could then live easier.

    But the proper question is: do you have a will? If you do not, the state will decide what will happen to your things. Do you have a living will to instruct the doctors what to do if you are unable to decide for yourself? Absent a living will, the hospital could keep you alive indefinitely, then fully consume your life insurance to pay themselves. Your family could be left penniless. Best we leave the instructions in writing, properly notarized.

    I want no heroics, no life saving support after 48 hours, no tubes, no respirators. Just OD me on opium, and let me drift off. It's actually a quite common way for old people to die.

    And don't automatically assume your wife/spouse/family share in your final wishes. Put it in writing, and have it notarized.
     
  6. kyser_soze

    kyser_soze 1/2 ton status

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    Food for thought, and I'm hungry.
     
  7. nc87k5

    nc87k5 3/4 ton status

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    makes me feel better that I'm not the only one worth more dead than alive. yea, I bought some cheap term life here at work and it doubles if it's an accident or dismemberment. The company I work for will also pay one and a half times my salary to Cristy at the time of death, this is at no cost to us. we also have a small policy for each of us and it will probably pay off the funeral bill and the rest will go towards some of the bills for that person.

    good idea on the living will. I've been thinking about it for the past 2 weeks since I had my surgery when they asked me all of those questions. I'm like most, don't keep me around too long and cause my insurance to pay for most of the med. bill when it should go towards my family to keep them financially secure.
     
  8. boggerless

    boggerless 1 ton status Premium Member

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    good call.and pre planning is the whip.the s==t you have to do on the day they die is crazy. you don't even get to greive."what cards,casket,liner,what will they wear and who will bring it?,etc etc etc etc." that sucked. :mad:
     
  9. boggerless

    boggerless 1 ton status Premium Member

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    you have a sweet job!! one and a half times your salery. :bow: :bow:
     
  10. Capman2k

    Capman2k 3/4 ton status

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    I'll have some starting next month... $20,000. Enough to cover a cheap funeral and my debts :D
     
  11. nc87k5

    nc87k5 3/4 ton status

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    yea, not too shabby. for an independent company, I think we have some awesome benefits.
     
  12. jekbrown

    jekbrown I am CK5 Premium Member GMOTM Winner Author

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    I have 2x my annual pay from my company automatically, and I have another 1x my annual pay that I pay a buck a month for. Its not a bad deal for the wife. We don't have a mortgage, or a car payment or kids... and with just $3k in total debt, the other $87k oughta be enough to cover the fireworks at my funeral. :grin:

    j
     
  13. boggerless

    boggerless 1 ton status Premium Member

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    sweet,you could get one of those NASCAR caskets. they are around $62.000 :eek1: but they will make it like anycar you want. :laugh: i have the procure around here some where. :laugh: they do look cool.
     
  14. boggerless

    boggerless 1 ton status Premium Member

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    my spelling again! :rolleyes: :haha:
     
  15. jekbrown

    jekbrown I am CK5 Premium Member GMOTM Winner Author

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    lol, thats just silly. I'm with "The Dude"... just throw my ashes in a grocery store-brand coffee can and call it good. Whether you believe in an afterlife or not, I ain't gonna need my decomposing body after death anyway. $pending mad ca$h on a casket is probably one of the best scams ever designed. Kinda sick taking advantage of grieving relatives, but hey, its all good.

    j
     
  16. boggerless

    boggerless 1 ton status Premium Member

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    just funnin,bro. i wat the waste managment funeral.let the guy at the dump get rid of my carcas. :haha: your soul goes to heaven ,not your body. :laugh: whats left is worm food. :haha:
     
  17. cbbr

    cbbr 1 ton status GMOTM Winner

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    I had $50,000 in school. Way way more now that I have 3 kids and a wife. Term is cheap and well woth it if something happens. It does not cover you while skydiving or scuba diving though. PITA.
     
  18. kgblazerfive

    kgblazerfive keymaster Premium Member GMOTM Winner

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    I have $400,000 in a Varible Life Policy not sure I like it but it works for now thinking about going term and the investing the rest my self.
     
  19. boggerless

    boggerless 1 ton status Premium Member

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    mine covers me scuba diving,it just cost a little more. :D
     
  20. boggerless

    boggerless 1 ton status Premium Member

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    i was gonna do $400.000,but right now i don't want my wife to off me. :laugh: :laugh: $100.000 will pay eveything off and leave her about $50.000.she won't last long on that so the rat poisen will stay in the garage. :haha: :haha:
     

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