InsuranceProSTL
New Member
I concur. In which state do you reside?
Guaranteed Issue Term Life
- Thread starter brokerjojo
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I concur. In which state do you reside?
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brokerjojo
New Member
- 13
Thank you everyone. I appreciate the kind words. We live in Illinois.
Moo is the most competitive at around 175 per month for 25,000. I have seen as high as 300-350 per month for 25000 with other carriers.
I know monumential life offers a GI term policy for some credit union members. Has any one had experience with them?
Moo is the most competitive at around 175 per month for 25,000. I have seen as high as 300-350 per month for 25000 with other carriers.
I know monumential life offers a GI term policy for some credit union members. Has any one had experience with them?
brokerpal
New Member
- 3
There is something creepy about your wanting to buy $100k life insurance on your mom who now has cancer.
Think about it....
Think about it....
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- #14
brokerjojo
New Member
- 13
ive been waiting for someone to be critical about my plan.
Please explain to me why you feel its creepy, wrong, or rotten.
I am looking at this strictly from a business perspective. This is the best business oppurtunity ive ever had. If she dies within two years I get my money back. If she dies between years 3-5, I will earn between 150% to 300% on my money. The doctors have said there is less than 1% chance that she will make it to 5 years.
The bottom line is 0 risk with the possibility of 150 % to 300% return on my money in 3 to 5 years.
As long as i can afford the premiums, it would be insane not to do this.
If anyone disagrees with me, please let me know why.
Please explain to me why you feel its creepy, wrong, or rotten.
I am looking at this strictly from a business perspective. This is the best business oppurtunity ive ever had. If she dies within two years I get my money back. If she dies between years 3-5, I will earn between 150% to 300% on my money. The doctors have said there is less than 1% chance that she will make it to 5 years.
The bottom line is 0 risk with the possibility of 150 % to 300% return on my money in 3 to 5 years.
As long as i can afford the premiums, it would be insane not to do this.
If anyone disagrees with me, please let me know why.
- 15,041
The fact you've been waiting to be criticized suggests that you know it is creepy as well.
Just think about it, you are profiting from your mother's death. Generally life insurance is to protect against loss of income. It doesn't sound like that is a concern for you, instead you see this as an investment opportunity.
Personally, I could care less if you do it or not. However, you might want to ask yourself how you are going to feel as you cash those checks after your mother's death.
Just think about it, you are profiting from your mother's death. Generally life insurance is to protect against loss of income. It doesn't sound like that is a concern for you, instead you see this as an investment opportunity.
Personally, I could care less if you do it or not. However, you might want to ask yourself how you are going to feel as you cash those checks after your mother's death.
- 15,319
If I had cancer (some of you are hoping), I would insist my wife buy as many GI policies as possible.
If my mother was diagnosed with cancer, I might do the same. Why would she not want this for her son?
While it is creepy, there is nothing wrong at all.
Rick
If my mother was diagnosed with cancer, I might do the same. Why would she not want this for her son?
While it is creepy, there is nothing wrong at all.
Rick
- 124
The guaranteed policies that I have dealt with stipulate that if the proposed insured has been diagnosed "terminal", then they don't qualify for coverage.
This is the creepy part:
"I am looking at this strictly from a business perspective. This is the best business oppurtunity ive ever had. If she dies within two years I get my money back."
I'm not saying it's not the right thing for you, but I can tell you that if I did it, I wouldn't want anyone I know to find out that I did it.
Good luck finding what you want.
"I am looking at this strictly from a business perspective. This is the best business oppurtunity ive ever had. If she dies within two years I get my money back."
I'm not saying it's not the right thing for you, but I can tell you that if I did it, I wouldn't want anyone I know to find out that I did it.
Good luck finding what you want.
