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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 | ||
| 1133965 | 2010-09-02 08:58:00 | Who here has life insurance? I decided to look into life insurance for myself & I was surprised at the difference between flat rates & annually increasing rates. I will probably just get basic life insurance now - enough to cover the mortgage & a basic funeral & reassess my options if I ever have any dependants. Pinacle is looking like a good option. |
Greven (91) | ||
| 1133966 | 2010-09-02 09:02:00 | Life Insurance? They can't ensure you will remain living, so, surely you mean Death Insurance? | KarameaDave (15222) | ||
| 1133967 | 2010-09-02 09:04:00 | Yes I have death insurance SWMBO insisted, don't know why though I won't benefit from it | gary67 (56) | ||
| 1133968 | 2010-09-02 09:08:00 | Yes I want one that pays me now, then bills my successors. :D | KarameaDave (15222) | ||
| 1133969 | 2010-09-02 09:32:00 | There are fixed rates to a certain age like 80yrs old or 100yrs. There are stepping like 3 or 5yrly. There are floating yearly rates as they see fit. You could go thru with a broker and you can compile the excel charts out ... over the long term flat rates will be better but in the shorter term the others may. Point. Some flat rate plans may be able to return your funds back without interests. For example if in your lifetime you paid $30k, you get back $30k in the year 2050. In real terms that may be less thou. Some other fixed term plans may get nothing. So if they are up to 80yr plans. Depending on your age you may pay $500/yr. Once you hit 81yrs old you may have a annual premium of $1,000 and then from there on it can skyrocket to $30k or more per year. |
Nomad (952) | ||
| 1133970 | 2010-09-02 09:33:00 | Yes I have death insurance SWMBO insisted, don't know why though I won't benefit from it You can get trauama insurance added to life insurance. If you lose limbs or get cancer etc ... |
Nomad (952) | ||
| 1133971 | 2010-09-02 09:38:00 | You can get trauama insurance added to life insurance. If you lose limbs or get cancer etc ... Or just go out for a pint of something.:drool:clap |
KarameaDave (15222) | ||
| 1133972 | 2010-09-02 09:49:00 | I had heavy insurance when the children were small - with the payout amount decreasing annually as they got nearer to the stage of caring for themselves. Haven't had any since the youngest was 18. Keep enough in the bank to bury my wife or I, the first to go. The estate can cover the cost of burying the other. Always considered it a rip-off but didn't want to leave my wife with the kids and no money. | Scouse (83) | ||
| 1133973 | 2010-09-02 09:49:00 | I just got a quote for $10,000 life insurance. $63 per fortnight. Admitted that I am close to 70. If I were to live another 10 years that would be $16,380 in premiums and no interest on the payments I made. Makes sense if I were to just deposit $63 per fortnight into a savings account which would remain untouched and attract compound interest along the way. Five years at 63 per fortnight would be $8190 Plus the interest compounded. |
Snorkbox (15764) | ||
| 1133974 | 2010-09-02 10:06:00 | If you are a young fella, from 21 or 25 to about 30 is the cheapest band. You can get just life insurance maybe $500k cover fixed term for $500/yr. Non smoker as well. You can get life insurance policies with a fund management portion with it but it's not worth it. You mind as well get a life insurance and seprarately get investment. You will still have money left over for other stuff. Because the 2 are together if you quit early like before 55 or 65 whatever it is, you will severely affect how much you get back. You in most case will get less than the amount you paid in let alone any interests. |
Nomad (952) | ||
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