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| Thread ID: 112358 | 2010-09-02 08:58:00 | Life Insurance | Greven (91) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1133995 | 2010-09-05 00:28:00 | Coffins are ridiculously expensive - it costs $2000 for a simple box (no shape, no handles) made out of cheap wood (Either Pine or Customwood, can't remember which) My cousin made my Oma's coffin when she died recently & for a fraction of the cost, it looked way better than the ones the funeral home sells. |
Greven (91) | ||
| 1133996 | 2010-09-05 00:30:00 | Life insurance is a form of gambling whereby you agree to keep buying tickets regularly in the hope you will die soon and make all your relatives pleased you are dead. The Insurance company hopes you will live and keep paying for ever. The problem is to decide how you can win. :clap :clap :clap The way to win is not to die (and not to take out a policy). Personally, I'm going to live forever. So far, so good... |
johcar (6283) | ||
| 1133997 | 2010-09-05 13:45:00 | Like any other insurance, it is worth having if you cannot afford to pay for the insured event in cash. For example, 3rd party car insurance is almost always worthwhile because you might crash into a Bugatti Veyron ($2+ million) or a house. Full insurance may not be, if you can afford to buy a new car. Likewise for life insurance, if you can afford the conseqences of you or your partners death (your partner is able to pay the mortgage and support your family for the rest of your life) then life insurance is a waste of money. However, most people are not in this position. The guarantee that when you die your family will not collapse into financial ruin may be worth the cost. However, I think the best way to do it is get it when you're young and have few assets, then save save save. When you have enough assets that you can get by without the cover, drop it. In this case, an increasing rate sounds best, as you will most likely be getting rid of it before it gets expensive anyway - but you need proper advice on that, or do some maths. This is just my opinion. One other thing, if you don't have any dependands and you don't have a partner, forget about it until you do! PS. My dad had a $300k life insurance policy and died in 2008. I was 17, and my brother 15 at the time. Mum had a mortgage and a modest nurse's income, and no savings of any kind. Without the payout she would have lost the house for certain. |
george12 (7) | ||
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