Quantcast
Shopping around for life insurance - Page 5 - Beyond.ca - Car Forums
Page 5 of 5 FirstFirst ... 4 5
Results 81 to 96 of 96

Thread: Shopping around for life insurance

  1. #81
    Join Date
    Dec 2006
    Location
    Calgary
    My Ride
    Bowtie
    Posts
    3,023
    Rep Power
    17

    Default

    ^ did you cancel policy? $50k richer? #You'reRicherThanYouThink

  2. #82
    Join Date
    May 2002
    Location
    Online
    My Ride
    Budget Baller
    Posts
    10,203
    Rep Power
    30

    Default

    Quote Originally Posted by TomcoPDR View Post
    This quote is hidden because you are ignoring this member. Show Quote
    ^ did you cancel policy? $50k richer? #You'reRicherThanYouThink
    Yes. Went into see my agent today and I was close to bailing but decided to fk it and sign away

    I don't know if I'm richer than I think but I'm definitely richer than what people think lol

  3. #83
    Join Date
    Jan 2008
    Location
    Cruising the +15
    My Ride
    100% SAVAGE
    Posts
    6,196
    Rep Power
    27

    Default

    Now the key is to not save or invest any of that money. Spend it now now now.
    Double-meat sub dreams.
    Public Mobile referral code: 88M4Y9
    Quote Originally Posted by freshprince1 View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I'm glad this is such a safe space full of support and encouragement.

  4. #84
    Join Date
    Sep 2005
    Location
    Calgary
    My Ride
    19 Ram Sport, Turbo Beretta
    Posts
    1,560
    Rep Power
    0

    Default

    Big shoutout to all you guys who have messaged me and who ive been able to help so FAR! If anyone needs anything, please feel free to drop me a message!

  5. #85
    Join Date
    Sep 2004
    Location
    Calgary, AB.
    My Ride
    210000 km oldie
    Posts
    1,089
    Rep Power
    17

    Default

    A friend of mine suggested we ditch our life insurance and go with straight life insurance if needed without the 'investment' part. Reason is the high amount of commission the agent would take. Would appreciate your opinion and we will do our dued diligence.

    My wife:
    Age: 40
    Forrester Advantage Plus 20-pay Whole life insurance for $300,000.
    3 years into coverage

    Me:
    Age: 49
    Avari Wealthadvantage for $400,000
    Many years in so have about $30k of surrender value

    We have a 4 year old daughter and a 10 months old son.
    Currently single income family.
    I am a contractor and also have my own DI and CI coverage.

    Do you agree it's best to buy life insurance and do the investing on our own?

  6. #86
    Join Date
    Jan 2008
    Location
    Cruising the +15
    My Ride
    100% SAVAGE
    Posts
    6,196
    Rep Power
    27

    Default

    Read this thread, lots of opinions clearly stated.
    Double-meat sub dreams.
    Public Mobile referral code: 88M4Y9
    Quote Originally Posted by freshprince1 View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I'm glad this is such a safe space full of support and encouragement.

  7. #87
    Join Date
    Sep 2016
    Location
    Calgary, Ab
    My Ride
    Zonda CRV
    Posts
    573
    Rep Power
    5

    Default

    bigbadboss101, will send you a PM.

    Anyone else reading this thread. Be careful, a lot of misinformation on here. Life insurance is not a joke.

    Speak to a qualified agent, its a heavily regulated industry. Im assuming GonSho is a life agent, PM him or shoot me a message.

  8. #88
    Join Date
    May 2002
    Location
    Calgary
    Posts
    1,090
    Rep Power
    19

    Default

    Quote Originally Posted by tonytiger55 View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Im assuming GonSho is a life agent, PM him or shoot me a message.
    No disrespect to GonSho personally, but a World Pyramid Scheme rep is the last person who I'd ask for any financial advice, including life insurance.
    Originally posted by max_boost
    Hey baller, any problem money can solve is no problem at all. Don't sweat it.

  9. #89
    Join Date
    Sep 2004
    Location
    Calgary, AB.
    My Ride
    210000 km oldie
    Posts
    1,089
    Rep Power
    17

    Default

    Yes I read the thread. Thing is it's not one size fit all and decisions would depend on each person or family's situation and goals. I do agree the fees can be high when you have someone else managing the investment aspect. We are leaning toward cashing out the WL, use that $ to pay off some debts, and both my wife and I will go with insurance only policies.
    Last edited by bigbadboss101; 04-08-2019 at 10:43 AM.

  10. #90
    Join Date
    Sep 2005
    Location
    Calgary
    My Ride
    19 Ram Sport, Turbo Beretta
    Posts
    1,560
    Rep Power
    0

    Default

    Quote Originally Posted by Strider View Post
    This quote is hidden because you are ignoring this member. Show Quote
    No disrespect to GonSho personally, but a World Pyramid Scheme rep is the last person who I'd ask for any financial advice, including life insurance.
    You need to give your head a shake man, a good majority of people who are in this business for any real length of time know what we are talking about. I have clients who have million dollar accounts and clients who have almost nothing but wanted to start somewhere. My company gives the average person a better place to start investing or getting OUT of debt, than a bank EVER can or will..

    We deal with some of the oldest, biggest, well known and respected financial/insurance companies in Canada.


    @tonytiger55 I am life licensed, both here in Alberta and BC.
    Last edited by GOnSHO; 04-08-2019 at 10:59 AM.

  11. #91
    Join Date
    Jun 2002
    Location
    Calgary
    My Ride
    Nissan and Germany
    Posts
    1,575
    Rep Power
    19

    Default

    Does anyone here have critical illness insurance?

    I have life insurance and critical illness and I can only get cash back on the critical illness, not both.

  12. #92
    Join Date
    Sep 2005
    Location
    Calgary
    My Ride
    19 Ram Sport, Turbo Beretta
    Posts
    1,560
    Rep Power
    0

    Default

    Quote Originally Posted by jaylo View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Does anyone here have critical illness insurance?

    I have life insurance and critical illness and I can only get cash back on the critical illness, not both.
    Hey bud,

    CI is normally the only type of insurance you can get ACTUAL Return of Premium rider, which gives you premiums paid back if you dont use it by a certain age if you wish to cancel it.

    There are a couple ways to setup life insurance to do something similar.

  13. #93
    Join Date
    Apr 2004
    Location
    Calgary
    My Ride
    2013 Q5
    Posts
    1,682
    Rep Power
    18

    Default

    Quote Originally Posted by jaylo View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Does anyone here have critical illness insurance?

    I have life insurance and critical illness and I can only get cash back on the critical illness, not both.
    i have both through group benefits at work. CI is an optional opt-in, but definitely no option of cash back. it's a pretty low premium for myself, wife and son so maybe that's why there is no concept of cash back on it.

    what kind of LI do you have that you're expecting to get cash back? Is it Term or Whole Life? As far as i know, only SOME Whole Life policies do cash back

  14. #94
    Join Date
    Sep 2005
    Location
    Calgary
    My Ride
    19 Ram Sport, Turbo Beretta
    Posts
    1,560
    Rep Power
    0

    Default

    Quote Originally Posted by sabad66 View Post
    This quote is hidden because you are ignoring this member. Show Quote
    i have both through group benefits at work. CI is an optional opt-in, but definitely no option of cash back. it's a pretty low premium for myself, wife and son so maybe that's why there is no concept of cash back on it.

    what kind of LI do you have that you're expecting to get cash back? Is it Term or Whole Life? As far as i know, only SOME Whole Life policies do cash back
    You can actually setup a UL that ACTS like a term, so that after the 20 years all the money you paid in, is what the cash/surrender value is, then cancel it and get all your money back. Instead of running a UL until you are 100.. ha

  15. #95
    Join Date
    Sep 2016
    Location
    Calgary, Ab
    My Ride
    Zonda CRV
    Posts
    573
    Rep Power
    5

    Default

    Quote Originally Posted by jaylo View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Does anyone here have critical illness insurance?

    I have life insurance and critical illness and I can only get cash back on the critical illness, not both.
    With Critical illness you can get your premiums paid back with two options. 1. Payback at surrender. 2. Payback when policy expires.
    Some companies offer both.

    Life insurance works a bit differently. Depends on the product and how it has been set up to serve your immediate need and potential future needs.

    Quote Originally Posted by sabad66 View Post
    This quote is hidden because you are ignoring this member. Show Quote
    i have both through group benefits at work. CI is an optional opt-in, but definitely no option of cash back. it's a pretty low premium for myself, wife and son so maybe that's why there is no concept of cash back on it.

    what kind of LI do you have that you're expecting to get cash back? Is it Term or Whole Life? As far as i know, only SOME Whole Life policies do cash back
    sabad66, Pull your documents and read through them or have a life agent explain it to you. Don't fall for the 'I have great benefits at work' line unless you know what it is and actually comparing too.
    Generally speaking work benefits are a lot different than a bespoke policy and may not cover your actual risk and that of your family. If you have not had a medical at the time of application, then the underwriting is done after you get sick/or die and you may not be guaranteed.

  16. #96
    Join Date
    Sep 2005
    Location
    Calgary
    My Ride
    19 Ram Sport, Turbo Beretta
    Posts
    1,560
    Rep Power
    0

    Default

    Quote Originally Posted by tonytiger55 View Post
    This quote is hidden because you are ignoring this member. Show Quote
    With Critical illness you can get your premiums paid back with two options. 1. Payback at surrender. 2. Payback when policy expires.
    Some companies offer both.

    Life insurance works a bit differently. Depends on the product and how it has been set up to serve your immediate need and potential future needs.



    sabad66, Pull your documents and read through them or have a life agent explain it to you. Don't fall for the 'I have great benefits at work' line unless you know what it is and actually comparing too.
    Generally speaking work benefits are a lot different than a bespoke policy and may not cover your actual risk and that of your family. If you have not had a medical at the time of application, then the underwriting is done after you get sick/or die and you may not be guaranteed.
    THIS GUY!! you know what youre talking about! I love it!

    When I sit with clients who have benefits through work, I always ask they have a copy of the benefits package to go through and explain to them what it is EXACTLY they have.

Page 5 of 5 FirstFirst ... 4 5

Similar Threads

  1. Another: shopping for fun new or lightly used around 30k.

    By tehwegz in forum General Car/Bike Talk
    Replies: 10
    Latest Threads: 07-12-2015, 12:02 PM
  2. Hot tub shopping.. sort of like car shopping

    By Redlyne_mr2 in forum Home and Garden
    Replies: 20
    Latest Threads: 09-11-2014, 07:06 AM
  3. Replies: 11
    Latest Threads: 06-14-2008, 02:32 PM
  4. Real Life vs. Internet Life

    By /////AMG in forum Misc. Gallery
    Replies: 8
    Latest Threads: 08-04-2006, 09:24 AM
  5. half life in real life

    By dj_honda in forum Photoshop Gallery
    Replies: 7
    Latest Threads: 06-28-2005, 12:58 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •