- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
0
Posted on 6/6/26 at 8:13 am to 756
quote:
Make sure you leave enough for your final burial expenses. If something were to happen you don't want that added burden on someone else.
Only caveat on that is most places like to be paid upfront for some services since the payout on life insurance is dependent on a death certificate which will take a few days or weeks.
I have heard some stories that some life insurance companies are quick and may advance you money by giving you checks tied to the life insurance payout. While other life insurance companies will take weeks or months to process a simple death.
Heck, I bought a small 5k policy with a 20 year pay that is now paid for, but the life insurance company has gone out of business twice and the policy has shifted between state guaranty associations and a private company. I just received a letter this week about it.
Sometimes the funeral home will perform their services while they process the life insurance claims and receive the life insurance check and cut you a check for the remaining balance.
In my experience as far as the burial plot or mausoleum space, they want money upfront and will not wait for a life insurance payout.
Posted on 6/6/26 at 8:13 am to lsu xman
Wife is primary, trust is secondary. Trust is to ensure that, if me and the wife both die, no one comes for my daughter so they can collect >1million in investments, multiple life insurance policies, and SS payments till she’s 18. SIL and BIL are trust managers. Son just turned 18 so he’s legal next of kin. I just don’t want him to be put under the pressure of taking care of his sister for 6 years when he’s supposed to be building his life.
Posted on 6/6/26 at 8:20 am to Gee Grenouille
quote:
Wife is primary, trust is secondary. Trust is to ensure that, if me and the wife both die, no one comes for my daughter so they can collect >1million in investments, multiple life insurance policies, and SS payments till she’s 18. SIL and BIL are trust managers. Son just turned 18 so he’s legal next of kin. I just don’t want him to be put under the pressure of taking care of his sister for 6 years when he’s supposed to be building his life.
I think I have a half mil and wife has 1.1 mil policy. We are both worth more alive and don’t really need it.
Won’t be any “accidents” around here.
This post was edited on 6/6/26 at 8:22 am
Posted on 6/6/26 at 12:16 pm to Rize
I just bought as a product for a period of time.
I didnt figure Id need life insurance into my 60s.
I didnt figure Id need life insurance into my 60s.
Posted on 6/6/26 at 12:23 pm to lsu xman
quote:Why even bother?
Upper 40's, healthy, no wife/kids.
Posted on 6/6/26 at 1:13 pm to lsu xman
quote:
no wife/kids.
Why have life ins if not for present value of set future earnings for your family or gap-fill of pension or SS survivorship?
Posted on 6/6/26 at 1:45 pm to lsu xman
If you're young with dependents who depend on your income, you should definitely have some term life insurance. If you're mega-wealthy, whole life can be used as a tax planning tool to minimize estate taxes. I had a friend when I was younger who said (facetiously I think) that he didn't want life insurance because it meant his wife would have to stay fit enough to find a new husband if he died and he would benefit from that if he didn't!
Posted on 6/6/26 at 1:46 pm to lsu xman
quote:
Who is the beneficiary?
wife is 50%
two adults sons are each 25%
Posted on 6/6/26 at 1:49 pm to lsu xman
Revocable Trust
Posted on 6/6/26 at 1:52 pm to lsu xman
I had the pleasure one time to inform the long standing live in girlfriend that yes a recently deceased employee employee of our company had a life insurance policy. Unfortunately for her, he also had no beneficiary listed so the insurance company investigated and determined they will be sending the $115K to his "ex wife" because he never finalized the divorce many, many years ago. It was a fun conversation.
The ex wife seemed happy as she thought they were divorced
The ex wife seemed happy as she thought they were divorced
Posted on 6/6/26 at 1:59 pm to lsu xman
quote:
no wife/kids.
Are you going to give the money to your favorite charity when you die? Or are you able to specify the money be used to build a giant statue of yourself at the cemetery?
Posted on 6/6/26 at 2:01 pm to lsu xman
quote:
Do you have life insurance? Who is the beneficiary?
Posted on 6/6/26 at 2:04 pm to lsu xman
You can take out life insurance policies on complete strangers without them knowing. I highly recommend. I’ve got several policies out there. Just waiting.
Posted on 6/6/26 at 2:09 pm to biglego
we've both got term policies that 'ended' in '24 but evidently they won't cancel them, just adjust the premium. I'm about to cancel both. hers was 750k mine 500k. I've been paying through the nose since '24 and don't need them. I'm 60; she's 57
Posted on 6/6/26 at 2:13 pm to biglego
quote:
You can take out life insurance policies on complete strangers without them knowing. I highly recommend. I’ve got several policies out there. Just waiting.
"Funny" but some folks here might just be slow enough to believe
You must have some "insurable intrest" to take out a life insurance policy on a life.
Posted on 6/6/26 at 2:20 pm to lsu xman
Wife is 100%
Then
Kids split it 33.3%
Then
Kids split it 33.3%
Posted on 6/6/26 at 2:26 pm to Crow Pie
quote:
I had the pleasure one time to inform the long standing live in girlfriend that yes a recently deceased employee employee of our company had a life insurance policy. Unfortunately for her, he also had no beneficiary listed so the insurance company investigated and determined they will be sending the $115K to his "ex wife" because he never finalized the divorce many, many years ago. It was a fun conversation
Just had a coworker pass away that this happened to. He has been living with a girl for years, helped raise her children. They married in a ceremony but didn’t get married on paper b/c her first husband passed away and she and kids were getting benefits from that.
Anyway, he had some girl he lived with for a short time named on his policy from years ago and didn’t change it over. He had no kids and didn’t marry the current girl on paper. So someone he probably has not spoken to in years will get over 100k…
This post was edited on 6/6/26 at 2:28 pm
Posted on 6/6/26 at 2:35 pm to N2cars
quote:
I just bought as a product for a period of time. I didnt figure Id need life insurance into my 60s.
Ours are both through work so super cheap. Had someone try to sell me some sort of whole life policy 10 years ago and wanted me to invest 4 to 5k a month into it.
I could be mistaken on whole life, it was basically some sort of investment vehicle that paid out on death.
Page 3 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News