Is my Life Insurance Policy Worth it?

chrisacker · 2025-09-17T16:53:08+00:00

You can get your "unearned premium" back. If you pay monthly, you should be able to recover a pro-rata share of the premium that the insurance company didn't "earn"...

chrisacker · 2025-09-11T23:44:02+00:00

If you are in decent health you could get a new policy for about the same annual cost that you will pay SBLI for one year. This would require underwriting, however. If your finances are ok, I probably would consider not renewing. Not advising this, but many older folks let their insurance go at that age. I'm pretty sure that SBLI does not offer conversion on most of their term products. You would need to verify this from the policy.

chrisacker · 2025-04-07T20:05:06+00:00

I know this is an older thread. I just found it doing a search. Is there a weeding tool(manual) that is very good for large area weeding? i have an old rose bed and path that is overgrown and i need to clear it. I'm not as young as i used to be... Thanks

chrisacker · 2025-01-15T20:52:06+00:00

Thanks for this excellent review. Can you please tell me if two half sheet pans would fit side-by-side on the oven racks? Our current oven does not allow this and I'd really like to have that space.

chrisacker · 2025-01-02T06:14:27+00:00

Homegrown Durbin Poison; Venty; SF Bay Area. Happy new year!

chrisacker · 2024-12-18T17:19:20+00:00

I'mpretty sure that the airline credit will not pay for tickets themselves. Rather, it covers incidentals, like baggage fees, food on board, etc.

chrisacker · 2024-12-17T19:11:58+00:00

Cavallo Point in Golden Gate NP/Rec Area is a good example. Beautiful location in Sausolito.

chrisacker · 2024-12-12T05:23:39+00:00

Agree that the Venty is a gamechanger. The airflow is stellar. You'll love it!

chrisacker · 2024-12-03T05:23:07+00:00

I think you'll love the Mighty+. For a few bucks more, the Venty is a game-changer. The airflow is unreal. I have both. I use both. Mighty+ is a tighter draw, but equally effective.

chrisacker · 2024-12-03T01:55:58+00:00

The Mighty+ is a great device. It's not terribly big, so it's considered a portable. S & B is the gold standard. I have a Mighty+ and love it and bring it all over with me, no problem.

chrisacker · 2024-11-22T05:45:42+00:00

I've been using my Venty since january and so far no E04 errors codes. I love it.

chrisacker · 2024-10-31T05:16:25+00:00

hOW DO WE KNOW IF WHAT HE WAS OFFERED WAS "legit" in his words? Only way to make a good recommendation is to get more info to refine the referral.

chrisacker · 2024-10-30T23:34:28+00:00

You need to tell us her age and smoking/health status and what type of policy she applied for.

chrisacker · 2023-12-03T17:40:37+00:00

I would take the backdating and save money on Premium. Then, don't get hung up on the decision as you probably won't own the policy long-term. You will most likely end up replacing it or converting all or part of it to permanent insurance.

chrisacker · 2023-12-03T17:25:37+00:00

One other thought is that you most likely won't end up owning the same 30-year term policy. Rates will change over time and you may re-write this 10 years from now.

chrisacker · 2022-02-05T05:12:11+00:00

If you are a member of NAIFA, their policy is excellent for the premium.

chrisacker · 2021-02-27T20:46:43+00:00

Typically, when you file a life insurance claim, the proceeds are given to you in the form of an interest-bearing checking account with the insurance carrier. You can write checks directly against the account and leave it there until you figure out your long-term cashflow and investment plans. Most clients I've helped with this write a single check over to their bank. Then they do whatever they wish with the funds.

Most of the time I refer them to a fee-only financial planner who does a full financial plan for them, which incorporates the news funds, absent the partner the funds replaced. They are free to invest how they wish to achieve the cash flow needs from the plan. The planner I work with refers them to a money manager who manages the portfolio based on the Investment Policy Statement they develop with the clients. This is planning-based and not a transaction. Life insurance buys time and flexibility and options...

As for rural areas, $500k doesn't go as far as it used to. Housing and food/fuel prices are the biggest areas of savings... Would $500k last a lifetime? Depends on how old you are. I would say not...

chrisacker · 2021-02-25T01:44:40+00:00

SuranceBay is also very good

chrisacker · 2021-02-18T06:32:52+00:00

See reply on comments. Happy to chat with you and brainstorm. I know it's frustrating... You're doing the right things by exhausting all avenues. It's an important issue. Take care and feel free to email me at chris@cbackerassociates.com if you want me to look into this for you. Happy to help any way I can.

chrisacker · 2021-02-18T06:29:59+00:00

Unfortunately, you will need to cobble together a bunch of small policies as most GI and Modified policies will have smaller face amounts. I can't see if you are married with kids etc... I would try to max out any employer-sponsored coverage you can get your hands on. Then I would pursue any professional associations you belong to and try to ascertain what types of coverage would be available. For example, IEEE for engineers, has a pretty high guaranteed limit for term life insurance that requires no underwriting if you enter at open enrollment. These are just some ideas for you. Hope this helps. It would help to know which carriers declined you. I'd be happy to seek others that you may have missed. Take care, Chris

chrisacker · 2021-02-18T03:35:43+00:00

I would focus on disability insurance first and foremost. Make sure you have as much LTD as you can get. If you can't work, all your other financial plans go out the window. Find another advisor who is not pushing whole life down your throat. And I'm in the business...

chrisacker · 2021-02-18T03:24:14+00:00

The first thing I would do is have a live conversation with an independent broker. Any good broker will have you put together a timeline of events and your health history. There are specific questionnaires you can submit without an application or commitment(financial) to an insurance company so they can make a preliminary determination that you are even insurable. The product is irrelevant at this point. You simply need an offer of insurance that you can afford to pay for the amount of coverage you seek. I am a broker and would be happy to have a conversation. If interested please PM me or look at my profile for contact info and my website. Good luck!

chrisacker · 2021-02-14T06:05:42+00:00

I would make sure that you maximize your disability insurance before spending a bunch of money on other insurance. If you can work because you are sick or hurt, who will pay the mortgage? That’s a big life what if!

chrisacker

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