Advice from physicians...

[donheff]

Doesn't long term care insurance deal more with age related conditions, or does that also cover disabilities from accidents? Now i'll admit I dont follow LTC insurance too much due to my age, but doesnt that medicare/medicade stuff kick in at 65 which i presume also helps some along with regular health insurance.

I'm not arguing against LTC insurance, because i presumed that is for something entirely different than "disability insurance". An assumption i made, since they have their own names.

The squabble here is over disability, not LTC.

I parachuted into the discussion when you were talking about your "FedBlue" policy and corrected what I saw as a misconception about the coverage of BC/BS for eldercare since the comment you were responding to addressed those issues. I didn't read the earlier posts so I didn't realize that the broader conversation related to disability. Now that I understand that I can point out that your FedBlue policy may or may not be of use depending on how bad the disability. LTC would be helpful even at a young age if the disability required around the clock nursing or such.

But the others posters who were arguing for disability insurance may not realize that you already have a form of disability coverage - if the disability is long term. It is called disability retirement. I don't know any Feds who bothered with disability insurance although I assume some may have picked up coverage for temporary non-job related disabling conditions.

 

[azanon]

I parachuted into the discussion when you were talking about your "FedBlue" policy and corrected what I saw as a misconception about the coverage of BC/BS for eldercare since the comment you were responding to addressed those issues. I didn't read the earlier posts so I didn't realize that the broader conversation related to disability. Now that I understand that I can point out that your FedBlue policy may or may not be of use depending on how bad the disability. LTC would be helpful even at a young age if the disability required around the clock nursing or such.

But the others posters who were arguing for disability insurance may not realize that you already have a form of disability coverage - if the disability is long term. It is called disability retirement. I don't know any Feds who bothered with disability insurance although I assume some may have picked up coverage for temporary non-job related disabling conditions.

Lets refocus on scout, instead of me. I dont want to leave a thread hijack in place. The recebt debate between brewer and I was whether scout and his spouse should have a disability policy. Its their money, so if they think that's a good value, then they should buy one.

 

[saluki9]

Usually, if someone's going to go after your assets, they go after just what you have, or something specific and not more than that.

They just go after what you have?

I guess you don't know any PI attorneys? They shoot for the moon, and every once in a while the jury obliges.

 

[Nords]

I guess you don't know any PI attorneys? They shoot for the moon, and every once in a while the jury obliges.

It would seem wiser to insure one's gross worth rather than net worth. I don't think the plaintiff or the jury are going to care about a defendant's mortgage...

 

[FinanceDude]

Where did i say i self-insurse anything of significance? I have health, life, home, auto, and disability. I've got Murphy covered from every angle.

I have full coverage now on both vehicles (cause they're a near new 04' VW, and new 07' fit). I only drop full coverage after the FMV drops low enough that it minus my 1K dollar deductable is something i can cover in the worst case. Wanna guess how many "at-fault" accidents in a car i've had since i've been alive? (I'll give you a hint; think "goose-egg")

I assume your net worth is at least 5 million, if you have a 5 million dollar umbrella policy. if not, keep that to yourself cause you'd look pretty foolish.

2 million in life? You wife must not be a "9" like mine is or have a masters degree and working. I could (hehe, and probably would) be replaced by any number of men that would be more than willing to take on that hard job. (of course she's a 10 to me cause i love her, but just being strictly unbiased and going on physical alone - she's a 9. Semantics really since a hot babe is a hot babe)

Sure all that's only 250 a month? Just my family health insurance alone is 180 a month, and that's with the federal government paying 75% of it. I'm guessing your "math challenged". And that's a little scary given that i recall you're a financial advisor

Dude, you gotta learn how to READ!! Where did I say it included HEALTH INSURANCE?? Maybe in your world, DI is health insurance.......... : :

Why would it be foolish to carry more umbrella coverage than your net worth? I guess perhaps you're not as brilliant as you want us to believe............

 

[FinanceDude]

I don't see your logic on this. Please explain.

The umbrella is a liability policy, right? As far as I can tell, it could make sense to have more insurance than your net worth, depending on your risk exposure. Let's say they have a lot of risk exposure and get a $5M judgement against them that's covered by a $5M policy. They get to keep all their assets. Now suppose they get a $5M judgement and only have a $3M policy. They have $2M of exposure against their assets. If they only have $1M of assets, they can lose those assets and have their wages ganished for the balance until it's paid off. What am I missing?

Perfect logic. The first million is the most expensive in buying umbrella. The next million is usually HALF of the first million, and so on. I think of it as "pennies for thousands". If I get sued, the PI attorney is going to look for WHERE they can get MONEY. And I would rather have them beat on my insurance company than me.

BTW, Azanon, if you get a big judgement against you, and even if you file bankruptcy, the court will order restitution for you to pay for the rest of your life..............

 

[brewer12345]

BTW, Azanon, if you get a big judgement against you, and even if you file bankruptcy, the court will order restitution for you to pay for the rest of your life..............

He doesn't have to worry about it. The purple unicorns won't let that happen to him.

 

[FinanceDude]

He doesn't have to worry about it. The purple unicorns won't let that happen to him.

I need to find a "happy world" like that...........

Like my dad always says: "Nobody likes a smartass, and everybody hates a legend in their own mind"

 

[brewer12345]

Like my dad always says: "Nobody likes a smartass, and everybody hates a legend in their own mind"

I think he would understand JG's "popularity" here.

 

[azanon]

They just go after what you have?

I guess you don't know any PI attorneys? They shoot for the moon, and every once in a while the jury obliges.

Some people lives legally vulnerable lives. If that applies to you, load up on umbrella i guess. It doesnt to me.

 

[azanon]

It would seem wiser to insure one's gross worth rather than net worth. I don't think the plaintiff or the jury are going to care about a defendant's mortgage...

Good point.

 

[azanon]

Dude, you gotta learn how to READ!! Where did I say it included HEALTH INSURANCE?? Maybe in your world, DI is health insurance.......... : :

Why would it be foolish to carry more umbrella coverage than your net worth? I guess perhaps you're not as brilliant as you want us to believe............

And all your insurance cost you 250 a month. You really should stop. Disqualify yourself.

 

[azanon]

Perfect logic. The first million is the most expensive in buying umbrella. The next million is usually HALF of the first million, and so on. I think of it as "pennies for thousands". If I get sued, the PI attorney is going to look for WHERE they can get MONEY. And I would rather have them beat on my insurance company than me.

BTW, Azanon, if you get a big judgement against you, and even if you file bankruptcy, the court will order restitution for you to pay for the rest of your life..............

All this in theory. I dont live in fear, and luck/fortunate is my best friend.

Yes the sky could fall tomorrow, i'll concede that. You keep worrying about it on my behalf... mmmk?

The insurance and warranty companies make billions a year on people fear's and you guys are biting hard, hook, line and sinker.

 

[azanon]

He doesn't have to worry about it. The purple unicorns won't let that happen to him.

I choose not to worry about it.

 

[brewer12345]

I choose not to worry about it.

Well then Bob's your uncle. And he rides a purple unicorn.

 

[FinanceDude]

And all your insurance cost you 250 a month. You really should stop. Disqualify yourself.

That's right, you KNOW my whole financial situation, right? Maybe you need to shop for better rates........

 

[azanon]

Well then Bob's your uncle. And he rides a purple unicorn.

Whatever results in me enjoying life and not worrying about much of anything, is fine with me. The ends matters; the means is relatively irrelevant.

 

[azanon]

That's right, you KNOW my whole financial situation, right? Maybe you need to shop for better rates........

I know what a full health insurance with a reputable company costs, yes exactly right. You're either have one equilivant to mine, or you dont. So your figures are wrong, or you lack a full health policy - either makes you look pretty ignorant, given your profession.

Property insurance? (or you rent?) isnt cheap either. 250 a month (total for all insurance) my ass.

 

[FinanceDude]

Whatever results in me enjoying life and not worrying about much of anything, is fine with me. The ends matters; the means is relatively irrelevant.

Perhaps being critical of others is part of your world.........like the tin foil hat and the purple unicorns............

 

[azanon]

Perhaps being critical of others is part of your world.........like the tin foil hat and the purple unicorns............

Forums aren't real to me. I see a monitor in front of me, and that's it. I turn it off, you disappear.

 

[brewer12345]

Whatever results in me enjoying life and not worrying about much of anything, is fine with me. The ends matters; the means is relatively irrelevant.

Oh, there is just so far I could run with this. But I will spare the mods some work.

Especially since others have picked up bats and joined me around the Az pinata.

 

[azanon]

Oh, there is just so far I could run with this. But I will spare the mods some work.

Especially since others have picked up bats and joined me around the Az pinata.

Me exposing you for the fool you are is hardly you swinging anything. You do most of the work for me. So does finance.

I want a decent challenge, you guys are too easy. Come back TH!

 

[Patrick]

All this in theory. I dont live in fear, and luck/fortunate is my best friend.

Yes the sky could fall tomorrow, i'll concede that. You keep worrying about it on my behalf... mmmk?

The insurance and warranty companies make billions a year on people fear's and you guys are biting hard, hook, line and sinker.

The whole purpose of insurance is to spread risk. If you want to assume all the risk and go bare and wind up getting wiped out, well I guess that's your choice . . . :

 

[azanon]

The whole purpose of insurance is to spread risk. If you want to assume all the risk and go bare and wind up getting wiped out, well I guess that's your choice . . . :

Ok i'm done with this one. People are just posting and not reading the thread, because twice now i've listed my many insurance policies.

 

[brewer12345]

Ok i'm done with this one. People are just posting and not reading the thread, because twice now i've listed my many insurance policies.

Yet you still appear to be unable to find your own butt with both hands and a flashlight. How strange. Perhaps the tinfoil hat is getting in the way?