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A lot of these discussions are like the ones I had earlier in life about Whole life insurance.
Agents tried to push me to term coverage, lower cost great coverage etc. etc.
Now I have a backstop of whole life coverage and unlike a lot of people my age do not have that worry about using pension, 401K or IRA funds.. My family is protected and I have piece of mind.
Just to say, insurance companies make a lot of money off of whole life. Consumer experts suggest buying insurance for insurance, not investment. You could have gotten a term policy and put the balance into a mutual fund and probably would have outperformed the savings whole life.
A lot of these discussions are like the ones I had earlier in life about Whole life insurance.
Agents tried to push me to term coverage, lower cost great coverage etc. etc.
Now I have a backstop of whole life coverage and unlike a lot of people my age do not have that worry about using pension, 401K or IRA funds.. My family is protected and I have piece of mind.
Financial advisors have always said "buy term and invest the difference". The problem with that is most people "bought term and spent the difference".
It is just another form of federal income based tax.
They give so much away, they need more to give to other nations to buy their friendship, and by votes to stay in power. They ran out of other peoples money. They figured out a way to get what is left over.
No one disagrees? Like they don't steal enough from "The People"
An amendment to the US Constitution, that reverses the 16th Amendment and another one eliminating the Federal Reserve.
When the banks do good, the bankers and stockholders rake it in, but when the banks do bad, the people pay for it, not the stockholders. There is your federal reserve and the reason the cost of living skyrockets.
The government allows the rich to be bailed out for what made them rich, with what they steal from the people.
That is different than the junk policies that were outlawed.
Not really. They are only junk because Obama outlawed them.
Millions of people today have "junk" policies that are blessed by Obama. You pay thousands of dollars per year in premiums and never get a dime back unless you have a catastrophy. That's exactly the same as the old "junk" policies.
Just to say, insurance companies make a lot of money off of whole life. Consumer experts suggest buying insurance for insurance, not investment. You could have gotten a term policy and put the balance into a mutual fund and probably would have outperformed the savings whole life.
Or he could have done what most people do. They buy term and spend the difference.
Not really. They are only junk because Obama outlawed them.
Millions of people today have "junk" policies that are blessed by Obama. You pay thousands of dollars per year in premiums and never get a dime back unless you have a catastrophy. That's exactly the same as the old "junk" policies.
I loved my old "junk policy" when I was in law school. It's now illegal under Obamacare, but it was perfect for my needs- I chose a high deductible ($2,000, low by today's standards) and excluded certain coverages, such as chemotherapy and child birth, and the premiums were $200 per month ($2,400/yr). It was perfect insurance to get me from the age of 26 until starting my legal job shortly thereafter. I was protected from falls, accidents, major illnesses; basically everything except the chemotherapy aspect of cancer (other treatments still covered). Oh, and I bought it on a website called "ehealthinsurance.com" which was essentially an "exchange", years before Obama "created" the exchanges.
I recently checked the premium for the obamacare approved version of that plan, and it's now over $700 per month ($8,400/yr) with a $5,000 deductible, and the co-insurance rate is higher once the deductible is met. But now chemotherapy is included.
Thank god Obama is protecting us from all of those horrible "junk policies". Oh, and Roadking- you're totally right. Obama turned what was a decent catastrophic plan into a total junk plan- it used to cost $4,400 out of pocket before coverage kicked in and now requires $13,400 out of pocket before paying a dime. Obamacare is one of the greatest scams perpetrated on society.
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