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Morbid butt logical
- Thread starter pdaddyII
- Start date
My parents took out life insurance policies on themselves
My father was further proactive and made and paid for his funeral arrangements already..now THAT was creepy
My father was further proactive and made and paid for his funeral arrangements already..now THAT was creepy
WoodyO
New member
I have a large life Insurance policy with my kid named as the beneficiary. I also have a will, and I've been meaning to meet with the lawyer to make arrangements so my kid only get's an allowance until he's 18 or 21. I want to make sure his mother doesn't have access to any of that money in case I drop soon.
jnevin
New member
I think you just need to be careful how you kill them.
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yep, my mom asked us to make the premium payments on a term life policy.. I think she already felt there was something wrong but had not seen the doc..
she took out the policy and my brother/sister and i make the premiums over the next 1 1/2 yrs til she passed away..
It have her great joy that she was leaving something behind for us..
still miss her..
odds are you will live till long after he is 21.
you still dependent on mommy?
billfred
New member
Go read the article about Boone Pickens having Oklahoma State buy life insurance policies on the old regents. Lesson here - insurance companies and actuaries are smarter than avg Joe.
Lol, mom us the contrary, she won't enjoy her money or properties so she can stash it for us when she dies, I much rather make memories with her but she doesnt get that
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I changed mine over to 20 yr term life policies.. $2,million at age 45.. cost is $165 month but i have a 5 yr old and i'm 52 now so it makes alot of sense..
if i were to die tomorrow his mom would get my social security til he was 18 yrs old, she gets 1 million to spend and he gets 1 million... paid out in a trust $100k per year starting at age 18 for school, otherwise he gets $50k til age 25 then he gets $100K TIL it runs out, which if it started next week, it would pay out for most of his life ..
1,000,000 compounded for 13 yrs interest... good times
fidelity life insurance
billfred
New member
Here you go - and Boone Pickens is no dummy.
Oklahoma State Cowboys lose bid to regain $33M from fundraiser - ESPN
Oklahoma State Cowboys lose bid to regain $33M from fundraiser - ESPN
billfred
New member
The problem is this, premiums are going up every year. All of the sudden renewal is coming up and you are wanting Grandma to die. It will fuck with your brain and destroy families.
billfred
New member
Not sure if you have ever looked into buying out insurance policies. There are investment vehicles out there for this and your medical background (or your wife's) would be to your advantage. I have looked at them but never got comfortable with it. It goes something like this:
Joe Blow has been paying on life insurance premium for 20 yrs - has a $1 million payout. Premiums are up to $5k/ month and he can't afford it. He wants $200k and take over premiums. Goes and gets a physical, shows he has high blood pressure, history of family heart disease etc. or that he was treated for prostate cancer a few years back on and on. Makes a case that you can take over these premiums and get the big payout in a few years. You just have to have the balls to buy him out and keep making the payments. He dies you win - takes away the personal aspects of wanting to poison granny.
Joe Blow has been paying on life insurance premium for 20 yrs - has a $1 million payout. Premiums are up to $5k/ month and he can't afford it. He wants $200k and take over premiums. Goes and gets a physical, shows he has high blood pressure, history of family heart disease etc. or that he was treated for prostate cancer a few years back on and on. Makes a case that you can take over these premiums and get the big payout in a few years. You just have to have the balls to buy him out and keep making the payments. He dies you win - takes away the personal aspects of wanting to poison granny.
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