The 3 P's of Life Insurance

Narragansett

Narragansett

Member
Silver Supporter
Joined
Aug 11, 2013
Messages
7,808
Reaction score
53,424
Location
RI/ Savannah, GA
Hi Jonathon,

I'm 57, weigh 87 pounds, have TB, scurvy, rickets, warts , every identified STD, smoked crack for 20 years and drink a quart of vodka a day. What's my price?

For you my dear it is just 9.95 a month

Anybody, ever buy or know anyone that bought this low rated Colonial Penn insurance?
 
Register to hide this ad
Walkin Horse said:
I think I read that is $9.95 a month per unit. Im guessing a unit is $1000. So $10,000 policy would cost $100 a month. I may be wrong though.
Click to expand...

You're dead on! I looked at this a few months back and a $20K policy at my age (76) was around $250/month. Premium is per $1K unit and varies by age.
 
Old&Retired said:
You're dead on! I looked at this a few months back and a $20K policy at my age (76) was around $250/month. Premium is per $1K unit and varies by age.
Click to expand...

I know it works like that, and there is a limited benefit for the first 2 years, meaning you just get your money back. Not to talk ill of the dead, but that sleazy Trebek pushed that stuff for 30 years
 
We passed on all the senior insurance. They were too much for what we needed. :mad:I have NO life insurance but an annuity that could be used.

We went to a funeral home to check on prepayment for a funeral 2 days ago. It’s better to just pay for funeral, only about 10,000 on there end to bury you. The cemetery is another prepay item.

If you are somewhat healthy you could make payments in Ohio and if you die before it’s paid off, it’s paid in full. Kinda insurance. Since I had quadruple bypass, it’s just a pay as you live item till you pay it off. Larry
 
My mom bought one of their policies unbeknownst to my sister or me.
She told us about it shortly before she died. My sister handled mom's estate. This insurance company was very quick to pay in full with no hassles at all.
 
Lee Barner said:
back when I was 71 or 72 I called and asked what I got for $9.95 a month. I got $531.00 worth of life insurance for each $9.95 a month. I laughed and hung up. Lee
Click to expand...
Yes, what constitutes a “unit” is never stated. And I have understood that as you get older the amount of the “unit” decreases. If the “unit” is a constant amount they would have to tell you what it was. Which they do not.

Anyone else ever notice that the “Three Ps” in the ad are actually two Ps?
 
Last edited:
I don't understand why folks who are aging continue to purchase life insurance. My understanding of life insurance is that you should be insured to cover future earning potential to care for loved ones etc. should anything happen to you. With that in mind you should insure yourself heavily when young backing off as you age. My wife and I carry no life insurance at this point.
 
After I prepay for "Ultimate-dead-meat-sack-disposal" (soon) I will owe nothing and everyone in the family is set. I often tell my 10 year younger wife: "No man in my family has lived past 80. I'm 72 and a betting man. I'd be tempted to get a $quarter million policy for 'S&G's." She hasn't done so yet; as far as I know.........Joe
 
Since I never married and never had any children I didn't carry any life insurance outside of my jobs. But now I carry two small group life policies to cover funeral costs without having to deplete my estate.
 
Narragansett said:
I know it works like that, and there is a limited benefit for the first 2 years, meaning you just get your money back. Not to talk ill of the dead, but that sleazy Trebek pushed that stuff for 30 years
Click to expand...


Jonathon is a bigger sleaze bag than Trebeck was. When the ad comes on, the mute button goes to work.
It's the same with all the other Senior Life Insurance ads.
 
Last edited:
Gambling. Playing the odds. Mr. Customer is betting that the Mr. Insurance Man will pay off more than he paid in. Mr. Insurance Man is betting that whatever Mr. Customer pays in can be invested and earn more than will have to be paid out.

There can be only one winner, and it ain't gonna be the dead guy.

But I knew an old boy whose wife was in the final stages of terminal illness and encouraged him to buy a nice new truck, with credit life insurance as part of the financing deal. Very nice truck and very few payments had to be made. The old boy lasted less than another year and I think the grandson got the nice truck.
 
I have only one life policy for $50K. I got it many years ago when I was between jobs so my wife would have something in case I left this mortal coil. She actually had a good job and did not really need it. However it was a very good policy and was paid off years ago. I think it was something like a 10 pay life. I could have cashed it out long ago, but decided to just let it ride as I am no longer paying premiums.
 
LoboGunLeather said:
But I knew an old boy whose wife was in the final stages of terminal illness and encouraged him to buy a nice new truck, with credit life insurance as part of the financing deal. Very nice truck and very few payments had to be made. The old boy lasted less than another year and I think the grandson got the nice truck.
Click to expand...

If I am ever diagnosed with a terminal illness that is my plan also.

I once asked a car salesman if the age of a elderly person mattered when buying a vehicle he told me no. Salesperson are only concerned about earning a commission and the dealership with selling a certain volume of vehicles so they can get good selection of vehicles and purchase agreements from the manufacturers.
 
You must log in or register to reply here.

Latest posts

Back
Top