LIFE INSURANCE

[jose34]

Can anyone recommend some good agents? Feel free to PM.

[Mordyk]

Please make sure you have enough coverage! Term life insurance is so cheap these days.

Think about your responsibility towards your family.

I get sick every time I see another family become rachmonos cases when a parent dies. They raise a few hundred thousand dollars. Not nearly enough to sustain and marry the kids off. A life insurance policy would give $1mm-$2mm easily.


This is a PSA. I don't work for any life insurance companies.

I would like to start running ads in local newspapers really screaming this from the rooftops.  I'm looking for anyone to sponsor (can be an ad as well for your company etc).  PM if interested. Tizku lemitzvos

seems like many people have not received the memo so quoting it again.

I'm starting to get quite resentful of people that pass away and leave their families face to be plastered on the streets Hashem Yiracheim

[ushdadude]

seems like many people have not received the memo so quoting it again.

I'm starting to get quite resentful of people that pass away and leave their families face to be plastered on the streets Hashem Yiracheim

As this thread shows, people get confused. When they start talking life insurance they start hearing whole life instead of the basic term life coverage that they really need.

[ExGingi]

As this thread shows, people get confused. When they start talking life insurance they start hearing whole life instead of the basic term life coverage that they really need.

What's your proof of that? How long have you been talking to people about life insurance?

The bottom line is that nothing is new. Some feel and act responsibly and buy, some procrastinate, some are just plain irresponsible or don't care, and some claim to have some philosophical, theological or halachic reason not to buy.

Next.

Oh. And every so often someone meaning well tries a PSA type campaign, it might motivate a few, but then life goes on to the same way it's always been. Some will buy and some won't, regardless of the type of insurance.

[ushdadude]

What's your proof of that? How long have you been talking to people about life insurance?

This thread. I've spoken to enough agents about buying insurance

The bottom line is that nothing is new. Some feel and act responsibly and buy, some procrastinate, some are just plain irresponsible or don't care, and some claim to have some philosophical, theological or halachic reason not to buy.

Next.


Agreed

[ExGingi]

This thread. I've spoken to enough agents about buying insurance

This thread doesn't prove that people don't buy because they confuse Whole Life and Term. You've spoken to agents, but have you tried CONVINCING people to buy life insurance? If you would have been doing that, you would have realized that it has nothing to do with Whole Life vs. Term (I have no idea why people put the vs. there, as plenty of people I know have both Whole Life and Term).

[JMHO]

As this thread shows, people get confused. When they start talking life insurance they start hearing whole life instead of the basic term life coverage that they really need.

1000%

[ushdadude]

This thread doesn't prove that people don't buy because they confuse Whole Life and Term. You've spoken to agents, but have you tried CONVINCING people to buy life insurance? If you would have been doing that, you would have realized that it has nothing to do with Whole Life vs. Term (I have no idea why people put the vs. there, as plenty of people I know have both Whole Life and Term).

Fair enough. I guess my point was that if people realized how inexpensive insurance can be, they wouldn't be as hesitant or lazy about it. The more simple the conversation, the easier the sale. But you are correct in that I've never been on the salesman side of the conversation.

[Mordyk]

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[ari3]

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Pretty idiotic post IMHO. Someone who didn't have life insurance is automatically not a special person or a special father?

I don't think a post like that is going to convince anybody to buy life insurance.

[ckmk47]

Pretty idiotic post IMHO. Someone who didn't have life insurance is automatically not a special person or a special father?

I don't think a post like that is going to convince anybody to buy life insurance.

I understand what he means.  The collection writeups all tell us how wonderful the niftar was. Mordyk may have gone too far, but the niftar in those cases seem to have messed up by not getting LI.

[Mordyk]

Pretty idiotic post IMHO. Someone who didn't have life insurance is automatically not a special person or a special father?

I don't think a post like that is going to convince anybody to buy life insurance.

someone that has people relying on them for financial stability, yet doesn't have the decency to take care of the what-if?

or how about i start posting all campaigns that have the niftars children in the picture just so it evokes compassion so people donate?

yes that pic is a bit severe and i did not originally write it.  But it is very frsutrating that the last few years should have been a wake up call for many yet there are constantly new campaigns.

[Euclid]

Another campaign for a young person who died without proper LI coverage. This is getting tired.

[aygart]

Another campaign for a young person who died without proper LI coverage. This is getting tired.

Someone involved told me that until about 6-9 months ago he was under the BMG plan. Once he went to work he lost that and was in the process of getting a new plan. He had some coverage from his employer but was short of the year of employment to get a bump in coverage.

[Euclid]

Someone involved told me that until about 6-9 months ago he was under the BMG plan. Once he went to work he lost that and was in the process of getting a new plan. He had some coverage from his employer but was short of the year of employment to get a bump in coverage.

Thanks for sharing this

[ExGingi]

Someone involved told me that until about 6-9 months ago he was under the BMG plan. Once he went to work he lost that and was in the process of getting a new plan. He had some coverage from his employer but was short of the year of employment to get a bump in coverage.

Ouch.

Never underestimate the importance of Individually Owned coverage, even when group coverage is available. One has no control over the group coverage (though certain group policies allow portability, but many are unaware, or just think/realize that they can get an individually underwritten policy for less, and allow the group coverage to lapse before putting something else in place). Unfortunately this is a painful illustration of the issues.

[aygart]

The same person told me how he has heard yesomim who have taynes on their parent for not buying insurance and leaving them feeling as the nebachs financially besides just that they are a yosom.

[Philosophypsych]

I heard that during Covid, there were LI companies that were offering Insurance without requiring any medical background info... Is anyone aware of any companies currently offering that?
Are there any options for someone that finds out they have a serious condition and is looking to either sign up for a new plan or atleast increase the amount of coverage?
Any advice would be very helpful.
Ty.

[ushdadude]

I heard that during Covid, there were LI companies that were offering Insurance without requiring any medical background info... Is anyone aware of any companies currently offering that?
Are there any options for someone that finds out they have a serious condition and is looking to either sign up for a new plan or atleast increase the amount of coverage?
Any advice would be very helpful.
Ty.

i don't think that is true. they required medical history but weren't doing medical testing

[ExGingi]

i don't think that is true. they required medical history but weren't doing medical testing

Correct.

COVID caused Life Insurance carriers to update and modernize their underwriting procedures, doing away with many physical exam requirements.

Along with that often come increased background checks and underwriting.

So, to answer the question

Are there any options for someone that finds out they have a serious condition and is looking to either sign up for a new plan or atleast increase the amount of coverage?
Any advice would be very helpful.
Ty.

If there's a serious condition, one needs to consult with an experienced Life Insurance broker, that might be able to shop it around and see what the best available offer might be.