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09-10-2021, 09:11 AM | #11371 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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Posts: 52,239
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09-10-2021, 09:11 AM | #11372 |
Mammoth penis
Join Date: May 2006
Location: Springfield
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Posts: 11,434
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09-10-2021, 08:29 PM | #11373 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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Posts: 52,239
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09-10-2021, 08:47 PM | #11374 |
MVP
Join Date: Mar 2019
Location: KC
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Posts: 7,504
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09-11-2021, 08:38 AM | #11375 |
Fish are scared of me
Join Date: Nov 2001
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Has anybody here ever sold a life insurance policy? I'm wondering how much these places that buy them will offer. My current 500K policy is expiring so I was planning to replace it with a 250K policy, I've sent information to Covington Direct who buys policies and am waiting for their response. But if I can get 50% of the face value then I'd go ahead and get the 500k replacement and have the 250K money now. AND they would have the policy payment to contend with.
Anybody have experience with this? |
Posts: 40,804
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09-11-2021, 05:37 PM | #11376 | |
Mammoth penis
Join Date: May 2006
Location: Springfield
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Posts: 11,434
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09-11-2021, 05:59 PM | #11377 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Quote:
1% - They punch you in the face. 10% - They beat you up for five minutes with a baseball bat. 50% - They hit you with a slow-moving car. 90% - They put you in an elevator with Aqib Talib and a stripper. I didn't know you could sell an insurance policy, either. Whole life, I presume? I know almost nothing about those types of policies. |
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Posts: 142,749
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09-11-2021, 06:03 PM | #11378 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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I don’t know about whole life either. I have term life insurance only.
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Posts: 46,088
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09-11-2021, 06:12 PM | #11379 |
Veteran
Join Date: Oct 2002
Location: Bismarck
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I was curious about this as well. Google says you can with whole life insurance. Basically, you have to be old and near death. You can sell it for less than the value it would be worth if you die. Seems pretty sketchy to me.
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Posts: 1,316
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09-11-2021, 06:15 PM | #11380 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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This is actually a serious question, and I've always wondered about it. Can you buy life insurance on another person? Do they have to know about it?
I wonder if google knows anything about this. I may go look. |
Posts: 142,749
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09-11-2021, 06:18 PM | #11381 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Hmm, apparently you can't buy insurance on another person unless you have both their consent and an expectation of financial loss if they die. So much for my plan to buy policies on people I don't like to cover the costs of a party at my house when they die.
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Posts: 142,749
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09-11-2021, 06:21 PM | #11382 | |
Veteran
Join Date: Oct 2002
Location: Bismarck
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I have life insurance on all of my daughters and I'm fairly certain they don't know or care. So, I'm going to say that you can in some circumstances. |
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Posts: 1,316
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09-11-2021, 06:48 PM | #11383 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Posts: 142,749
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09-11-2021, 07:04 PM | #11384 | |
Veteran
Join Date: Oct 2002
Location: Bismarck
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Quote:
On a separate note, I'm glad this was brought up tonight. For many years I thought I had a decent payout from my employer in the event of my untimely demise. After reading this thread, I logged in to my work insurance and found that I was wrong this whole time. While I thought I had a payout of 5X my annual salary, I found out it was just 10k. Guess I missed a few clicks when I set the life insurance up. I am obviously going to correct that as soon as I can, but I can't believe I've gone all these years not knowing this disastrous mistake. Thanks everyone for the heads up. |
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09-11-2021, 07:27 PM | #11385 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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