Just cancelled My Life Insurance

[olevetonahill]

Got tired of payin a 100 bucks a month when I dont need it anymore .

[badger]

Does anyone personally need life insurance? I mean, it's not like they're gonna bill collect in heaven, amirite?

[olevetonahill]

Does anyone personally need life insurance? I mean, it's not like they're gonna bill collect in heaven, amirite?

If you have dependents yes you do for THEM, My Kids are well grown with families of their Own, Most Of My Big debts are paid . So My Son can just sell everythin pay out whats left owed and divie up what ever is left over.
Simple

[badger]

If you have dependents yes you do for THEM, My Kids are well grown with families of their Own, Most Of My Big debts are paid . So My Son can just sell everythin pay out whats left owed and divie up what ever is left over.
Simple

You should let OSU take out an insurance policy on you so that they have to pay expensive premiums. Then, live as long as you possibly can so they can never hope to recoup their costs. Hell, even those Pokes that were tagged for early death never died to this day :stunned:

[rock on sooner]

If you have dependents yes you do for THEM, My Kids are well grown with families of their Own, Most Of My Big debts are paid . So My Son can just sell everythin pay out whats left owed and divie up what ever is left over.
Simple

If you're in that situation, then, yes. 'Sides, that hunnert bucks is five or so
30 packs more a month...:devilish:

[olevetonahill]

If you're in that situation, then, yes. 'Sides, that hunnert bucks is five or so
30 packs more a month...:devilish:

What Ima thinkin Bro.

[8timechamps]

Does anyone personally need life insurance? I mean, it's not like they're gonna bill collect in heaven, amirite?

Life insurance has two purposes:

While young and working: Income replacement.

While older and retired: Asset protection.

That's it.

[SanJoaquinSooner]

Vet, the least you could do is put in your will that you're leaving the cast iron skillets and a couple of C notes for your cleaning senorita.

[soonerbrat]

you could leave it to me. i'd put it to good use. promise.

[winout]

Just waitin' for the government to make it illegal to deny 'cause of a pre-existing condition. You could actually buy life insurance from the grave, wow-sa!

[btk108]

Wrong again people. Have you had to pay for a funeral lately? The national median is $8,000. In Oklahoma for a traditional funeral and burial you can expect $6,000 up to $15,000 depending on the funeral home you choose. Cremation? $785 for a direct cremation, no viewing, no services. Cremation with a service, $3000 and up. Your mom and pop funeral home that let you pay it out for $100 a month is gone and if you know of one, don't expect it to remain that way.

The industry standard is that a guarantee of funds is in place BEFORE your service date is set if not at the end of the arrangement conference. Guarantee of funds = cash, check, credit card or an assignable LIFE INSURANCE policy. You have an estate? That takes months, even years to settle, the funeral home will not wait on it. Keep your life insurance policy so that your spouse or children don't find out that beside dealing with losing you, they now have to come up with THOUSANDS of dollars immediately. THAT'S WHAT LIFE INSURANCE IS USED FOR NOW. If you have the cash, go to your funeral home and pre-arrange so that you lock in today's prices.

[olevetonahill]

Thats my next step bro
I still have a 100K policy Mainly just dumped the High priced one, I dont need that much coverage anymore

[SanJoaquinSooner]

You wearing a wedding ring?

[olevetonahill]

You wearing a wedding ring?

I thot you knew me better than that ****

Ive been Happily DEEVORCED for over 13 years
Figured after 12 years I better slow down on the celibratin it was wearing me out

[jkjsooner]

There should be a market for selling policies that you want to dump. Afterall, you paid higher rates when you were younger so that you don't pay sky high rates when you're older. To get the idea, compare two twenty year policies bought at 30 and 50. You'd pay miniscule amounts for the 30-50 policy an a ton more for the policy bought at 50. By buying 40 year policy at 30 you pay something between.

That means assuming you had this policy for decades, at this point the monthly payment is not high enough (by itself) to justify the coverage. If legal, some enterprising investor should buy up these policies from folks who no longer need them. They'd pay a price to the policy holder and the monthly payment until the end of the policy.

Some would be winners and some would be losers but for these long term policies with the cost front loaded they could come out ahead.

Edit: I wouldn't suggest selling the policy to an individual unless you really want to be knocked off...