How many of you have insurance?

[Prime Shane Douglas]

I have homeowners, car and four life insurance policies.

The homeowners policy is a no brainer to me. I have it in an escrow account with the mortgage and I have used it for a robbery once and storm damage two or three times.

The car insurance is relatively cheap. I have a sixteen year old truck and only pay around 50 bucks for liability. It's a 4WD, so it's a little higher than your average sixteen year old vehicle.

I put out a decent sized life insurance policy due to having two kids and a wife. It's enough to pay off the house and put a good amount in the bank to get by. I would like to have had enough to put some in college funds but I am now considered high risk because I have epilepsy. It's still enough to ensure they have a roof over their heads. The company I pay also gave me 10K policies for both of my kids with the plan I pay for and my employer gives me a 10K policy for as long as I work here.

Edit: Forgot I have health insurance too. All together I pay around $550 a month. Most of that is health...

 

[phipps66]

I have auto, motorcycle, homeowners on my house and my rental home. I really need to get on top of life because I recently had a son.

 

[SammyPops]

House insurance
Car insurance
life insurance through work and private
Extended health insurance through work

 

[Stoop1r]

I have only health insurance. I don't have any reason to take an insurance for the house. But I think about a life insurance

 

[loyalyolayal]

I have only health insurance. I don't have any reason to take an insurance for the house. But I think about a life insurance

I have a combined health/life insurance for the moment out my wife's behest. Is she going to kill me?

Enjoy your first like.

 

[JoshTehV]

yes but id rather almost die before I use it, don't trust them mofos

 

[looktwice]

I have motorcycle insurance and rental insurance.

 

[Phr3121]

I also own 40 acres of property, but there is nothing on it at the moment, so there is no need for insurance on that.

I would reconsider that. If someone gets hurt in your property, they can sue you. Yeah, I know, its private property. It does not matter, they can still sue you. Yeah, I know, the law sucks. People are stupid.

Remember the two neighbors. One had a pool and the other didn't. The one who didn't have a pool had a kid who wandered into the neighbor's pool (property) and drowned. Kid's family sued the neighbor and won.

I own 3 acres of land where I raise 5 donkeys. I have insurance for that. It is very cheap and it keeps me safe.

House, car, health, and life insurance are good to have. Life insurance is for others (family), not you, and it does not pay for your funeral or cremation.

 

[Phr3121]

I have only health insurance. I don't have any reason to take an insurance for the house. But I think about a life insurance

What if your house burns down? Are you married? Do you drive a car?

 

[Phlog]

The only insurance I don't have is income cover for sporting injuries and I'm getting that next season. Health is covered by the state. Vehicle insurance is mandatory by law and I have life insurance.

I think it's an essential component of modern living. I want to be covered should the worst happen. Saving is hard to do, probably because of all the insurance I pay out for.

 

[Simian Raticus]

I get health and life through work.

If I get sick, I get treatment. If die, my family gets some money.

Good enough for me.

 

[IloveTHIS]

yea i have insurance lol.

I don't need life insurance right now since im only 22 among other reasons

has anyone told you how stupid that is yet? you think because you are 22 theres zero chance something could happen to you?

you are literally gambling with your life. I guess its not the absolute worst, because if you end up ruined by medical bills you could file bankruptcy. cant have too much savings at 22 anyways.

 

[michal001]

Insurance is for costs you can’t afford with your savings if you lost and would be devastated by if lost.

Most people can’t buy a home, pay for accident costs, or pay for serious health costs. And you’d be devastated if home burned down, wrecked your car and seriously injured somebody or yourself, or got cancer and needed care.

Insuring piddly stuff you could just pay for us stupid and a insurers dream. Dental optical ring insurance doesn’t add up for the average consumer. Those warranty plans bestbuy and Home Depot and apple sell you crazy.

 

[LHWBelt]

I'm referring to all kinds of insurance and I don't sell insurance.

If you own a house and have a loan, you have to have insurance on the house. Many who rent don't have insurance.

If you have a car you are usually required to have liability insurance in case you cause damage or injury to someone else. You also might need to have coverage to repair or replace your vehicle.

Life insurance is something that many people don't have. If you want to be buried, that costs about $10,000. If you have children, you need to provide for them if you die before they are grown.

Many people are complaining about being forced to have health insurance but many still chose to pay the fine instead of buying insurance.

I started this thread because of local events that have happened.

One family's house burned and they didn't have insurance. They have a motorhome, a couple boats 2 jetskis, 2 snowmobiles, 2 fairly new vehicles but no insurance on the house and are asking for donations.

A man driving a car with no insurance hit a pedestrian who was self employed and didn't have medical insurance.

A man crashed his new motorcycle and died. His obituary said his children were the most important thing in his life. Seems the only life insurance he had was the $5000 his employer provided. His co-workers were telling that they could purchase additional term life insurance at very good rates.

I've always had insurance on everything even when I didn't make much money. My parents had purchased a $5000 policy for me when I was born that I added to and expanded. This was a whole life policy that provided me with a good amount of money in retirement. It had a savings provision that I could add money to at a guaranteed 5% minimum interest. My siblings had the same policy but cashed them in when they turned 18.

Do you have insurance? I know some on here have children. Do you have insurance to provide for them?

I got insurance on everything and good insurance except life. I have life insurance through work but the policy only pays out 50k. I'm having a baby soon so I'm looking into getting a policy that pays out 500k I'm just looking around still trying to find a good deal.

 

[odog]

Well, I’m Canadian, so I have insurance on everything.

Except my life

Nobody cares about my life.

 

[Mr. 4K]

I have pretty much everything under the sun since I own a rental property. Then I have the basics like health, vision, and dental.

 

[bufetadanacara]

has anyone told you how stupid that is yet? you think because you are 22 theres zero chance something could happen to you?

you are literally gambling with your life. I guess its not the absolute worst, because if you end up ruined by medical bills you could file bankruptcy. cant have too much savings at 22 anyways.

He has insurance- just not life insurance. If he is 22 and has nobody in his life to pass the money to after he dies, then why would he pay into it?

I didn't get life insurance until I was 40.
My houses are insured, vehicles, life, I have insurance in case I get sick or injured too- but I also have a wife and kid. At 22, it really didn't matter if I had life insurance.

 

[ralphc1]

I would reconsider that. If someone gets hurt in your property, they can sue you. Yeah, I know, its private property. It does not matter, they can still sue you. Yeah, I know, the law sucks. People are stupid.

Remember the two neighbors. One had a pool and the other didn't. The one who didn't have a pool had a kid who wandered into the neighbor's pool (property) and drowned. Kid's family sued the neighbor and won.

I own 3 acres of land where I raise 5 donkeys. I have insurance for that. It is very cheap and it keeps me safe.

House, car, health, and life insurance are good to have. Life insurance is for others (family), not you, and it does not pay for your funeral or cremation.

Life insurance can be set up however you want it. You can name a beneficiary, have it left to your estate, or dedicated for a specific purpose, such as your burial. Most often it is left to a family member who will be the one arranging your funeral. You can also cash in your whole life policy for it's cash value to use in your retirement.

 

[Phr3121]

Life insurance can be set up however you want it. You can name a beneficiary, have it left to your estate, or dedicated for a specific purpose, such as your burial. Most often it is left to a family member who will be the one arranging your funeral. You can also cash in your whole life policy for it's cash value to use in your retirement.

Have you ever dealt with collecting from a Life Insurance company? It is not a simple process. Depending on the company, they make things extremely complicated with the 'mountain' of paperwork you have to mail in. Highly doubtful you will be seeing any of that money during the first or second week of someone's death. So, money for funeral, burial, or cremation will not be available.

I have first hand experience with this. One of the companies my father had a Life Insurance policy with made things extremely difficult for my sister and I. So difficult to the point I had to bring in my attorney and start a lawsuit process. The minute the process started, the insurance company decided to pay out the benefits, about two months later. My attorney said that this is a very common practice with some companies here in the U.S. Only about 40% of beneficiaries get to see that money. Many give up with all the paperwork requests and time waiting. Very sad.

Cashing in a Life Insurance policy is also not easy to do and it depends on the policy and company. You cannot do that with every policy. There are many drawbacks to this option:
. Excess premium payments and earnings are held.
. Cash-value withdrawals are treated as taxable to the extent that they exceed your basis in the policy.
. The life settlement industry is very marginally regulated, so there's no guidance as to your policy's value, making it hard to determine whether you're getting a fair price for your policy.
. Aside from the tax liability that you could face, life settlements usually come with another cost. As much as 30% of your proceeds could be paid in commissions and fees, which reduces the net amount you receive.

 

[sweetviolenturg]

My wife & I have the usual. Health, life & home. Right now we don't have to pay for auto because we've been using my father in law's car since we moved to AZ.