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it's time for the uncomfortable conversation about...........

Tayboo said:
I have 2 policies on myself and one on each of my children. My plan is eventually pay for my funeral cost before I go, so my kids don't have to have worry about it. I think I mentioned this before, but that's how my grandmother had everything set up for herself, my grandfather, and her mother before she died.
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Smart! Paying for the cost of everything before we go is the biggest thing you can do for your kids. Definitely a plan I need incorporate.
 
Y’all should also educate yourselves on dead peasant/janitor insurance.
Even tho it was illegal since 2011, you may have it grandfathered in if you been at the same place since then.

slso you May have signed paperwork of consent to dead peasant insurance because of the word soup they feed you.
Companies often take the money from your death and train new hires, or just cash out. This can happen even after you leave a company.

i can not say I know how to find this info on if a company has one on you or not. But I’ll ask my attorney and I’ll share it with y’all.

if your older people have insurances thru they work, get that paperwork and read it, you may have to share the death benefit thru a split dollar policy.

Yall please don’t take what Im saying as being money hungry no matter the terms.

i want people to get what’s owed and build wealth for future generations.
 
royalascension said:
Smart! Paying for the cost of everything before we go is the biggest thing you can do for your kids. Definitely a plan I need incorporate.
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Not only that, it also eliminates all the planning for the funeral as well. Everything is already picked out (casket, tombstone, program, etc.) so your family members don't really have to do much once that times comes. So no family members fighting over what they think you would want...
 
Tayboo said:
Not only that, it also eliminates all the planning for the funeral as well. Everything is already picked out (casket, tombstone, program, etc.) so your family members don't really have to do much once that times comes. So no family members fighting over what they think you would want...
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This

planning for afuneral while emotionally unstable is not good.
I feel like that’s when they make their most money from the upsale on confort and silks
 
Race Jones said:
get whole life asap

and make sure it doesnt have a 2 yr waiting benefit
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Don't most have that? Trying to find a policy without a two year gap for my dad has been very hard. If you wait to late or got health issues omg the price is crazy. He talking about he just wanna be cremated and it will be cheaper too.
 
I read with whole life insurance. You lose the cash value when you passed.
 
These conversations are far too mature for me.

I have health insurance through my job. Told my mom if i die just burn me up and turn me into some jewelry or some shit. If i had a family of my own I would probably be much more proactive with it.
 
royalascension said:
Don't most have that? Trying to find a policy without a two year gap for my dad has been very hard. If you wait to late or got health issues omg the price is crazy. He talking about he just wanna be cremated and it will be cheaper too.
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does he have health issues?

how old is he?
 
MJ DOOM said:
is this true?

“Let’s say Greg gets this $250,000 whole life policy at 30 years old. He pays $260 per month, with $15 going to the insurance and the rest into that savings account with a 6% return rate. After 40 years of paying way too much for his insurance, Greg is 70 and has $250,000 in insurance and roughly $488,000 in cash value. Then, Greg dies. How much does the insurance company pay out to his wife and kids? $250,000. But wait, what happened to the $488,000 of Greg’s hard-earned savings? The insurance company keeps it.”
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or you can purchase a rider that allows your beneficiary to recieve both the death benefit and the cash value
 
I've always had this weird feeling like getting life insurance is a death sentence and bad luck so I've stayed away from it, but the older I get the more it makes sense to get. I went through some shit this summer and looking back now I would hate to leave my family with next to nothing in my passing and you just never know when it's your time.

I'll probably look into it now.
 
This is another reason why job choice is important. People only think about salary a lot of the time, but as you get older and have more responsibility, you start to realize that benefits are as important as salary. Life insurance is one of those benefits.
 
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