I Have Federal Employees Group Life Insurance,(plan A&B) Is This Competitive To Public Policies,eg, Term/whole
Question by Thom A | Posted in Insurance
Option A is the basic plan that will pay about $43,000.00 @ $14.00 monthly. Option B is 5 times my salary prior to disability retirement which will pay about $205,000.00 @ $50.00 monthly.
My age is 49, and I would like to know if term or some type of whole life policies would be a better savings and pay-out.
This policy will be for the benefit of my two children.
Answer: Not likely at your age. Most employer sponsored polcies are cheaper, because the employer picks up a chunk of the cost, AND it's averaged among ALL employees.
You'll have to get quotes from a local agent to be sure. The MAIN point is, you can get more coverage from a private policy. $43K between two kids doesn't go very far, ya know?
Federal Life Insurance For A 23 Year-old?
Question by Dialectical Reflections | Posted in Insurance
Hello, is 54 a month of pretax dollars too much for life insurance with a premium of 1.6 million dollars? The original premium is 800k, but since I'm under 35 the premium automatically doubles. The cost and premium go up as my salary goes up. However, it does not build up any cash value or payback value. The only reason I want life insurance is because my dad cosigned student loans for me, and if anything were to happen to me (odds are nothing will-statistically speaking of course) I wouldn't want to leave him strapped with that burden. I could elect to get less insurance, but this is the new employee cost only. If I want a higher premium in the future I would have to get a physical, and the
Answer: Premium means, cost of insurance. I think you're confusing that with death benefit.
Insurance through an employer is almost always group term coverage. The rate is subject to change every year, and they can drop it all together, if they want to.
I would no way rely on my employer, to pay for my life insurance. If you want life insurance, buy it yourself.
Life insurance with cash value don't pay out cash value when you die! They say its a good way to build savings! How is that so if you lose it all and it doesn't go to anyone when you die? People say you can borrow it. Why do I want to borrow my own money that I paid for? Cash value = scams!
Life Insurance is an employee benefit available to all workers. Life insurance company refuses to pay on claim because they say that we, the employer, never made it part of our contract. Isn't COBRA a federal requirement?
Thanks
Does Anyone Know The Where Abouts Of Will For Richard Bartley Dorosk Died1990 In Georgia, Cobb County?
Question by Rick | Posted in Insurance
my father served 30 yrs in marine core and retired, one year later he died of massive heart attack,but the military tells me he had no insurance,does a federal employee's life insurance premiums stay in affect for retired military personal? He also had allotments taken out for john hancock mutual life insurance for additional policy! can anyone suggest how i can find his policy from military and john hancock,they both are claiming they cant find any records!
Answer: No, you don't get "free life insurance" for life, after you retire, military or not. You DO get the benefit of a military funeral, which can save money.
If, however, he converted his John Hancock policy to private insurance when he retired, it is possible it was still in force. What you need to do, is 1. Become executor/administrator of his estate, so you can have LEGAL ACCESS to the information 2. Get copies of all his bank statements for the last year of his life - if he HAD life insurance in force, he would have been paying for it.
You're probably asking, is there some kind of central database where you can plug his name in, and it tells you if
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What it “does is right an existing injustice that penalizes one class of federal employees by limiting their benefits versus what their fellow federal workers receive.” Those benefits include health, long-term care and life insurance; retirement,
Prior to World War II, many employees purchased their own individual or family health insurance policies, sometime called “personal” health insurance policies, just like they do today with homeowners, auto, and life insurance.