Josh-Daniel S. Davis (joshdavis) wrote,
Josh-Daniel S. Davis

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Life Insurance

Ok, so we've been pondering. If one of us were to die, what would be required to make sure the other's life isn't completely destroyed by it any more than the emotional loss.

Well, I won't go into our personal finances on it, but I checked with a few companies, Amex Financial Advisors (more on that later), State Farm, my Insurance company, and a guy named Greg Skybes (sp) at 817-251-9612who sells a Sabre plan from Fidelity Guarranty and Life.

Amex is, well, they charge you money to tell you how much money you should give them, and they don't even have the best rates. Enough said.

State Farm has great prices on home and auto insurance, but their life insurance is kinda costly. Must be the poor admins of their 3466 Network Storage Manager boxes they use which are WAY over priced for what St Farm does with them, and they have TONS of them. They'd have done better paying for some really cooshy-positions for a few excellent Tivoli Storage Manager administrators.

I still need to find out more about Greg's plans, and how well the plan and company are rated; however, if you're interested, call him up and tell him I referred you and he can set you up with this Sabre plan which looks pretty good.

This is only REALLY useful if you have someone to make your benefitiary. I have a wife and kid, so this helps out. If you're only looking to be buried, have someone handle your assetts, and pay off your debts, then you wouldn't need nearly as much. Here are the quotes I got out of him.


Can't do more than 70% wages in disability
universal life has alot of fees
whole life is more expensive, but builds equity

Greg Scrivas (Hinze residence) 817-251-9612
all rates based on preferred, non tobacco
amount/gender@age/term/rateguarantee/rider cost/month
RoP = Return of Premium at end of term
15 yr RoP is 34/mo
30 yr RoP is 12/mo

150k/F@26/15/15 $153/yr
150k/F@26/30/15 $18.50/mo
150k/M@25/15/15 $174/yr
150k/M@25/15/15/RoP $353/yr
150k/M@25/30/15 $21.60/mo

350k/F@26/15/15 $24.62/mo
350k/F@26/30/30 $28.71/mo
350k/F@26/15/15/RoP $51.71/mo
350k/F@26/30/30/RoP $35.33/mo
350k/M@25/15/15 $28.71/mo
350k/M@25/15/15/RoP $62.10/mo (11,178)
350k/M@25/30/10/RoP $42.57/mo (15,325)
350k/M@35/15/15 $34.38/mo

500k/F@26/30/10 $38.25/mo
500k/M@25/10/10 $32.40/mo
500k/M@25/10/10 $32.40/mo
500k/M@25/15/15 $39.15/mo
500k/M@25/30/10 $45.90/mo
500k/M@25/30/10/RoP $57.15/mo (16,524)
500k/M@25/30/30 $57.15/mo (16,524)
500k/M@25/30/30/RoP $71.55/mo (25,758)

500k/M@35/15/15 $38.25/mo

bank draft preferred for monthly billing
quarterly, semi or annually ok by check
annually 8% cheaper

-------STATE FARM--------
JSD 48/mo $250 10/10/ dividends after 3 years
JSD 53.50/mo $250 select 30/30
EBR 38/mo
$25,000 Whole life
guaranteed insurable option
can increase ins up to 8 times by up to 8x w/o requalify
23.50/mo / 3rd year dividends
premiums and dividends go to cash value
baby policy $10/mo $25,000
baby policy double and it's paid up in 10 years
$15k, guaranteed insurable $15k
$219/year pays up in 10 years
$25k/guarantee $345/yr paid in 10 yrs.
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