Life Insurance

[Cosmo]

Rainman

 

Was that you I saw in YPK a couple of weeks ago?

 

I wouldn't waste your time and money with mortgage insurance. It is very expensive and only pays off what remaining on your mortgage. Hopefully your mortgage is declining. So you are paying same monthly fee for less bucks when you pass on.

 

I have insurance thru UNUM. About $73 bucks a month. Gives me accidental death coverage and disability. Covers flying except water bombing (Bucketing). (Go figure)

 

A good guy to call locally is Arne Arnsen 604-257-7308.

 

Call me

Cheers

C.

[rotorhead wannabe]

As luck would have it, I'm still insured through SISIP (don't know what it stands for), from my time in the military. Costs me 3 bucks a month for $50,000 (33 yrs old, non smoker). And, being a military policy they don't sweat about the small stuff like flying... or acts of war. Only thing they won't pay for is suicide.

 

Hmmm... on second thought... maybe flying a helicopter isn't covered?

 

RW

 

P.S. I know $50,000 is not much coverage but right now I just need enough to cover the wake :up: I'll boost it when I get a wife and kids. Ahhh, who am I kidding! I'm going to be a helicopter pilot! The wives won't be around long enough to need a policy and I probably won't even know about the kids I have! :shock:

[Harmonic_Vibe]

In my experience rhw, there're lots of wives around but they're not usually yours!!!

[Rotorwing]

Hey Folks consider having some loved one purchase a plan on you, like some folks do for their children. I am not sure how it works but they buy the coverage and they are the benificiary of any pay out and there are less restrictions.

[rainman]

Hmmm?

 

Just have to be in good standings with the other person so no "accidental" premature cash in occurs!

 

HAHA

[Batfink]

As luck would have it, I'm still insured through SISIP (don't know what it stands for), from my time in the military. Costs me 3 bucks a month for $50,000 (33 yrs old, non smoker). And, being a military policy they don't sweat about the small stuff like flying... or acts of war. Only thing they won't pay for is suicide.

 

Hmmm... on second thought... maybe flying a helicopter isn't covered?

 

RW

 

Hey RW,

 

Great news about SISIP - you are fully covered for everything (i.e. NO EXCLUSIONS - PERIOD). If you have the insurance in effect for more than 2 years, even suicide is covered. It's a great program - Well, for your beneficiary anyway...

Edited November 17, 2005 by Batfink

[Rotorwing]

Last time I checked you normaly don't buy life insurance so you can benifit

[cap]

Rotorwing ------Me and a lot of others helped ourselves make the downpayment to buy or build our first houses by borrowing from our "Whole Life Policies". Those who had "Term", had/got coverage and that's all. Therefore, I think that I benefitted from it and that was one of the main reasons that I got Life insurance in the first place.......and at my dad's urging because he had also done the exact same thing long before me.

[Rotorwing]

Cap

 

I stand corrected I never thought of doing that, made it happen a different way.

I was just giving a possible way for those floks that find it imposible to get life insurance.

 

RW

[helicopper]

TERM is the route i chose given MY circumstances (47 yrs/non-smoker/wife/3 kids [thankfully smart like their mom], comm heli/copper/mortgage... on that note - ALWAYS accept the mortgage insurance premium!!!!)

 

all-risk coverage on a million dollar policy CURRENTLY costs me $105 monthly (canada life)... renewal rate effective from 2009 thru 2019 is $4850 annually...

 

this coverage works fine for me until my kids have graduated university... at which time i will re-evaluate my insurance needs...

 

in the interim, knowing that my family will be financially secure should i have a bad day, is WELL worth the $105 monthly...

 

your OWN personal circumstances will dictate your insurance requirements... and will undoubtedly change over time...

 

here's hoping your beneficiary NEVER cashes in!!