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Old 01-24-2016, 04:18 PM
 
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the ability to stop payment when services are needed are plan options . we have it on ours .
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Old 01-24-2016, 07:00 PM
 
Location: SoCal
13,235 posts, read 6,335,450 times
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Originally Posted by mathjak107 View Post
the ability to stop payment when services are needed are plan options . we have it on ours .
I need to read my plan.
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Old 01-25-2016, 05:40 AM
 
Location: Ponte Vedra Beach FL
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Originally Posted by selhars View Post
...Ok here's the rantL
And I DO feel insured to death...how many darn things in life do I have to insure?
Car Insurance, health insurance, life insurance, homeowners insurance, disability insurance ...now LTCI...
Don't forget an umbrella policy .

Overall - not all people need every possible kind of insurance. After we're retired (or even before) - many of us don't need things like life or disability insurance.

Also - since no one wants to spend every last cent on insurance - we have to figure out which policies we must buy (as a result of various laws/rules) or need depending on our individual finances - and then figure out the most cost effective ways to buy them.

FWIW - insurance costs can be an issue when it comes to decisions about staying/moving post-retirement. Because they can vary wildly from one place to another. I know that our homeowners'/windstorm - auto and Medigap policies would cost substantially more in south Florida than north Florida. Robyn
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Old 01-26-2016, 10:42 AM
 
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The need for insurance is often relative to the value of what you are trying to protect. Collision coverage on a 75k Mecedes v $500.00 junker two different thought processes. How much in assets we have can color our interest in LTC along with other priorities.
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Old 01-26-2016, 11:15 AM
 
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thanks Robyn -- I forgot about the umbrella policy -- I have one of those, too!
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Old 01-26-2016, 02:25 PM
 
Location: SoCal
13,235 posts, read 6,335,450 times
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In California, it depends on where you live, there's earthquake insurance. I have them for more than 10 years. Hopefully I never need to use it.
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Old 01-26-2016, 02:27 PM
 
Location: SoCal
13,235 posts, read 6,335,450 times
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Originally Posted by TuborgP View Post
The need for insurance is often relative to the value of what you are trying to protect. Collision coverage on a 75k Mecedes v $500.00 junker two different thought processes. How much in assets we have can color our interest in LTC along with other priorities.
I have a junk car that's worth about $1000, with $500k collision coverage. But I get multiple discount on multiple insurance. If I don't insure this car, it will cost me $700 more. It's called multiple insurance discount. It's almost a golden handcuff, in a sense.
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Old 01-26-2016, 02:29 PM
 
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500k collision coverage ?
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Old 01-26-2016, 02:39 PM
 
Location: SoCal
13,235 posts, read 6,335,450 times
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Quote:
Originally Posted by mathjak107 View Post
500k collision coverage ?
Yes and a $1 million for non material coverage, I forgot the name. It's a requirement to get umbrella insurance.
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Old 01-26-2016, 02:45 PM
 
71,630 posts, read 71,777,271 times
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collision insurance is for repairing the car . perhaps you mean 500k in liability insurance .
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