Life Insurance Question

[Woodson]

I am actively searching options to lock in a 30 year $500k term life insurance policy but wanted to ask if non disclosure of kiteboarding would result in non payment in the event of my unfortunate demise?

When speaking with the agent, he asked if I sky dived, rock climbed etc, and it wasn't until I was speaking with someone who questioned if my nondisclosure of "kiteboarding" which is classified as an extreme sport would result in the insurer stating I gave false information...

Didn't think of it as falling into that category until now...

Thoughts?

Thanks in advance...

 

[MadJack]

I am actively searching options to lock in a 30 year $500k term life insurance policy but wanted to ask if non disclosure of kiteboarding would result in non payment in the event of my unfortunate demise?

When speaking with the agent, he asked if I sky dived, rock climbed etc, and it wasn't until I was speaking with someone who questioned if my nondisclosure of "kiteboarding" which is classified as an extreme sport would result in the insurer stating I gave false information...

Didn't think of it as falling into that category until now...

Thoughts?

Thanks in advance...

i'll take a wild guess and say they won't pay if you happen to die in a kiteboarding accident.

is the new wife encouraging you to get this life policy? kurby kurby

 

[Woodson]

No, but we're thinking of starting a family w/ Katie staying at home... I thought this may be a necessity due to hit by bus factor...

I just didn't want to pay a premium only 10 years down the road to find out that an incorrect answer cost my family the benefits...

 

[MadJack]

No, but we're thinking of starting a family w/ Katie staying at home... I thought this may be a necessity due to hit by bus factor...

I just didn't want to pay a premium only 10 years down the road to find out that an incorrect answer cost my family the benefits...

i heard you better be honest on those things. you KNOW they are always looking to get out of paying.

JMO

(i was kidding above)

 

[Woodson]

I know I know.

I may need to rethink some of my answers... :mj07:

 

[MadJack]

I know I know.

I may need to rethink some of my answers... :mj07:

:lol:

 

[AR182]

I am actively searching options to lock in a 30 year $500k term life insurance policy but wanted to ask if non disclosure of kiteboarding would result in non payment in the event of my unfortunate demise?

When speaking with the agent, he asked if I sky dived, rock climbed etc, and it wasn't until I was speaking with someone who questioned if my nondisclosure of "kiteboarding" which is classified as an extreme sport would result in the insurer stating I gave false information...

Didn't think of it as falling into that category until now...

Thoughts?

Thanks in advance...

hi woodson....

i used to sell life insurance....but haven't sold it in 17 years.....look for a company that has a 2 year contestable period (met life, john hancock, mass. mutual, etc)...then if you die after the 2 year period is up, the ins. company cannot deny a claim no matter what you answered on an application...however if die within the 2 years of the application, they can contest the death...

hope this helps....

 

[MadJack]

hi woodson....

i used to sell life insurance....but haven't sold it in 17 years.....look for a company that has a 2 year contestable period (met life, john hancock, mass. mutual, etc)...then if you die after the 2 year period is up, the ins. company cannot deny a claim no matter what you answered on an application...however if die within the 2 years of the application, they can contest the death...

hope this helps....

very helpful, Al, as i'm in the market too since a 10 year term policy for me expired recently. i'll def look for that clause whenever i get around to taking care of it..

 

[MadJack]

i could gamble and say i don't even smoke and if i make it 2 years they still have to pay?

serious question...

 

[BADTODABONE]

:nono:

http://www.metacafe.com/watch/700686/horrible_kiteboarding_accident_broken_glass/

 

[AR182]

i could gamble and say i don't even smoke and if i make it 2 years they still have to pay?

serious question...

the problem that i think you will have jack, is that an insurance company will pick up the fact that you smoke in a urine test (i forgot & am not sure).....a smoker has to take out insurance where he/she doesn't have to take a medical exam or where the ins. company does not request an aps from the personal physician...does your present policy rate you as a smoker ?

 

[MadJack]

the problem that i think you will have jack, is that an insurance company will pick up the fact that you smoke in a urine test (i forgot & am not sure).....a smoker has to take out insurance where he/she doesn't have to take a medical exam or where the ins. company does not request an aps from the personal physician...does your present policy rate you as a smoker ?

yes, my expired policy listed me as a smoker. i won't lie on those things, was just asking.

thanks

 

[Woodson]

Thanks guys. It appears I need to consider several options that have not been presented to me as it relates to the coverage.

I'll probably bring this back to life after the holiday.

I submitted a quote at 5:38 and I shit you not, at 5:39 my phone rang...

The difference is term vs term return of principle was $18 a month but in an IRA it seems like you'd clear a large percentage more if the return rate was 8%...

Any thoughts on this?


Thanks AR and Jack.

*The video: Always where booties... especially around oyster beds... :nono:

 

[AR182]

Thanks guys. It appears I need to consider several options that have not been presented to me as it relates to the coverage.

I'll probably bring this back to life after the holiday.

I submitted a quote at 5:38 and I shit you not, at 5:39 my phone rang...

The difference is term vs term return of principle was $18 a month but in an IRA it seems like you'd clear a large percentage more if the return rate was 8%...

Any thoughts on this?


Thanks AR and Jack.

*The video: Always where booties... especially around oyster beds... :nono:

woodson,

did you submit an application from a site on the net ?......i wouldn't do that...but "to each his own".....i would be careful with these companies because i'm not sure what type of contestable period these companies have that work from the net....or even what is written on their contracts....i believe in sitting down with an insurance person & discussing your needs & goals....especially if you are thinking about an ira....

 

[MadJack]

these sites that take questions are only lead generators for the companies selling whatever and they sell them the leads/questionaires that people fill out.

 

[Woodson]

Good to know.

The IRA comment was in regards to a higher yield vs returned principle at end of term when alive.

I think I'll speak to famly as well.

Thanks again.

 

[vinnie]

Woody tell'em your going to try this :mj07:
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[southbeach]

a friend told me about this guy he is pretty damn good ,, he travels all over the place doing stuff I don't know if there is anything on his site in your area but he is got some cool stuff on there


http://www.google.com/search?rlz=1C...e=UTF-8&q=life+insurance+in+atlanta+,+georgia

:shrug:

 

[vinnie]

 

[MadJack]

Woody tell'em your going to try this :mj07:

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</P>:mj07: :mj07: