Comments on: Life Insurance Facts : Good & Bad Term Life Insurance Policies

By: Procastinating lazy liars

Procastinating lazy liars — Sat, 15 Nov 2008 11:04:16 +0000

I work for an insurance company. I can tell you what the future is. Let me say…almost 95% of agents I have dealt with, are rude, not helpful, and lazy. They never call their customers back. When customers have a question, they respond by trying to sell them more insurance. This is why I think the number of agents and life insurance companies are decreasing. Agents are not properly trained, and they do not care about their insureds. They only care about the money they will make from the policy and the rewards they will get and the status they will get.

On average, a day I take about 80 calls in a customer service center. I would say at least 75% of people complain about their agents. I have had people request to speak with their agent. I will call their agent, the agent will flat out tell me to "handle it myself" when the person does not want to speak with ME, they want to speak with their agent.

By: unhappy

unhappy — Fri, 14 Nov 2008 20:56:00 +0000

Yes. Typically, the owner of a policy is the insured, but the owner of the policy can named any insured he/she wants. In this case, your mother would be the insured, you would be the owner of the policy, and coincidentally, you would also be the beneficiary.

I don't understand the asset part of your question because a term-life policy has no worth except in the death of the insured. A whole life policy would have a cash value that could be cashed out now or borrowed against. If you own the policy, you would be the one that could pledge that policy as collateral against a loan. But the only people that would give you a loan against it (in all likelihood) would be the life insurance company itself. Paying back the loan and keeping the premiums up to date becomes pretty spendy.

By: sturner60653

sturner60653 — Fri, 14 Nov 2008 16:03:42 +0000

I recommend that you buy from a local agent NOT through the mail or from the internet. Then, when you have a question or heaven's forbid….a claim…..you simply pick up the phone…or drive across town, and whola…..a real live person who cares about you and your family…..no more pressing one for English, and two for Spanish……and so on.. and so on.. and so forth….etc…etc…etc.

By: deege06

deege06 — Fri, 14 Nov 2008 15:22:06 +0000

Do you not trust your spouse? You want someone else to dish out the money?

I have my spouse as my primary beneficiary. But if we die at the same time, I have a trust for the kids, as contingency, because I don't want the kids' guardian(s) to run amuck with the money.

By: Joey Starr

Joey Starr — Fri, 14 Nov 2008 08:15:21 +0000

I'm 90% sure you are kidding, but either way.. Yes, obviously the fact that you "didn't stay dead" would invalidate the claim!

By: Let_Justice_Prevail

Let_Justice_Prevail — Fri, 14 Nov 2008 07:32:59 +0000

I can tell you that I was having a problem similiar to this one but knew there was a policy but however it was trying to claim it.

Depending what state that you live in if there is a policy there is two ways to find this out.

1. You can go to the states website for unclaimed funds. Such as www.(your states full name + unclaimed no space).com

2. Two sometimes there are also legal websites that you can google that are attorney postings online for unclaimed insurance policies.

another thing is if you know enough information about this check that was possibly forged look into going to the bank or source that issued and cashed it and talk to someone about this issue and they will usually investigate it and ask for a signature verification if it is a large sum the police may very well get involved and use a handwriting expert and if he did cash it then my understanding from my sister who works in a bank all recorded cameras are archived for at the minimum of 10 years. They would be able to go back to that date and if it is proven that he did they will press charges possible federal charges depending on the amount. Hope this was helpful. I would tell you to go to the police however they will tell you without enough evidence first they cannot and will not do anything. So try to get the evidence first. It may very well come down to something big. Good Luck

By: Look what I can do...

Look what I can do... — Thu, 13 Nov 2008 14:27:07 +0000

You will die, the question is, what happens to those you leave behind? If they are dependent on your income to meet expenses, will they just have to fend for themselves? Life insurance allows you to live on in the form of replacing your income for a period of time—often a years. You are gone, but your wisdom and foresight live on. As for the insurer, it makes money by investing the premiums of all its policyholders for the period of time they are living. Many people take out term life policies that cover a period of years—the term. If the policyholder outlives the 10-, 20-, or 30-year term policy, as the vast majority of policyholders do, then the insurance company pays out nothing, keeping the premiums and the earnings made from them. If you have whole life, then a death benefit is guaranteed to be paid (assuming you do not default on the policy) but the premiums paid and the investments the insurer has made with them will result in a profit for the insurance company. Inflation is a factor, too. $100 paid in premiums in 1980 is worth $256.91 today. The insurer pays the death benefit agreed upon at the time the policy is started, but that amount is diminished by inflation.

By: allie

allie — Thu, 13 Nov 2008 10:35:36 +0000

Usually it's about three weeks after the paperwork is filed.

But usually it's ALSO a small amount, like whatever his annual salary was, or sometimes 2X annual salary, when he left. It might not cover your tuition bill.

By: Micky

Micky — Thu, 13 Nov 2008 10:15:22 +0000

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