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[♥]Mrs. Taylor 18 kids; Texas 12250 posts
2nd Jan '13

<blockquote><b>Quoting Cheeks mom:</b>" <blockquote><b>Quoting [♥]Mrs. Morgan:</b>" I worked for an insurance company ... [snip!] ... But why wouldn't you just tell the person you have the policy on? Like "hey we're doing this just in case"....."</blockquote>




Because its your money you're spending, and you don't have to? I would keep it private so it wouldn't start any drama over who the beneficiaries were etc. I don't plan on discussing the policy I have on my daughter with her or her husband.

min. 2 kids; 1 angel baby; Lorain, Ohio 2486 posts
2nd Jan '13

<blockquote><b>Quoting Cheeks mom:</b>" <blockquote><b>Quoting [♥]Mrs. Morgan:</b>" I worked for an insurance company ... [snip!] ... But why wouldn't you just tell the person you have the policy on? Like "hey we're doing this just in case"....."</blockquote>




Thats exactly my point!



DH is going to find out about it- he finds it odd that its such a secret.



I can understand people being prepared, but secrets are fishy!

~ Ez's MoM ~ 33 kids; Zimbabwe 3436 posts
2nd Jan '13
Quoting min.:" <blockquote><b>Quoting annabelle509:</b>" your husband was in the military? regardless. ... [snip!] ... DH alive. I faintly remember his dad mentioning to someone he has a big li on him. So again, it just seems more a greed thing.."


that is nuts. there is nothing illegal with what they are doing, i would hope that if it was a huge sum of money they would give some to you and your kids as well. but it seems like they are greedy.

ERMAGHERD BEEDS! 17 kids; Philadelphia, Pennsylvania 4099 posts
2nd Jan '13

<blockquote><b>Quoting Smartass *TTC*:</b>" Why would I? I don't plan on telling my son I have a life insurance policy on him. I have 200k on ... [snip!] ... have that money. If he ever dies before me I will get it. He doesn't need to know. He should still carry his own policy."</blockquote>




Yeah but in this situation were talking about an adult male, not a four year old. I am honestly curious also

ERMAGHERD BEEDS! 17 kids; Philadelphia, Pennsylvania 4099 posts
2nd Jan '13

<blockquote><b>Quoting [♥]Mrs. Morgan:</b>" <blockquote><b>Quoting Cheeks mom:</b>" <blockquote><b>Quoting [♥]Mrs. ... [snip!] ... over who the beneficiaries were etc. I don't plan on discussing the policy I have on my daughter with her or her husband."</blockquote>




Ever? Even if she's curious to see how much coverage she should get for herself? I honestly don't get it, I'm just wondering.

[♥]Mrs. Taylor 18 kids; Texas 12250 posts
2nd Jan '13

<blockquote><b>Quoting Cheeks mom:</b>" <blockquote><b>Quoting [♥]Mrs. Morgan:</b>" <blockquote><b>Quoting ... [snip!] ... Ever? Even if she's curious to see how much coverage she should get for herself? I honestly don't get it, I'm just wondering."</blockquote>



Nope, not until I decide I'm ready to sign the policy over to her.. She can get however much she feels necessary. What I choose to do with the policy I've paid for is my business.



If I have grandkids, I plan on leaving it for their inheritance after I'm gone if she is prepared and has her own life insurance. If not, I would put it toward their education and raising. If it doesn't happen while I'm alive after a certain time period I will more than likely let her take over the payments and transfer it to her name.

min. 2 kids; 1 angel baby; Lorain, Ohio 2486 posts
2nd Jan '13

<blockquote><b>Quoting annabelle509:</b>" that is nuts. there is nothing illegal with what they are doing, i would hope that if it was a huge sum of money they would give some to you and your kids as well. but it seems like they are greedy."</blockquote>




Yeah, another reason it just doesnt sit well... :/

ERMAGHERD BEEDS! 17 kids; Philadelphia, Pennsylvania 4099 posts
2nd Jan '13

<blockquote><b>Quoting [♥]Mrs. Morgan:</b>" <blockquote><b>Quoting Cheeks mom:</b>" <blockquote><b>Quoting [♥]Mrs. ... [snip!] ... while I'm alive after a certain time period I will more than likely let her take over the payments and transfer it to her name."</blockquote>



I get it now! Thanks!

user banned Due November 7 (boy); 1 child; Dayton, Ohio 26853 posts
2nd Jan '13
Quoting Cheeks mom:" <blockquote><b>Quoting Smartass *TTC*:</b>" Why would I? I don't plan on telling ... [snip!] ... Yeah but in this situation were talking about an adult male, not a four year old. I am honestly curious also"


As I said before, my parents have a 200k life insurance policy on me.
His parents have probably had a life insurance policy on him since BEFORE he was an adult.

And even if they didn't who cares? It's none of your concern.

user banned Due November 7 (boy); 1 child; Dayton, Ohio 26853 posts
2nd Jan '13
Quoting Smartass *TTC*:" As I said before, my parents have a 200k life insurance policy on me. His parents have probably had ... [snip!] ... a life insurance policy on him since BEFORE he was an adult. And even if they didn't who cares? It's none of your concern."


I do not plan on telling my 4 year old son now, or when he is 30. It's something I pay into. It doesn't cost him anything.

I would give the same reaction if my son or his wife said something about his life insurance policy I hold. Yes, I have it, no you don't need to know anything about it.

min. 2 kids; 1 angel baby; Lorain, Ohio 2486 posts
2nd Jan '13

<blockquote><b>Quoting Smartass *TTC*:</b>" As I said before, my parents have a 200k life insurance policy on me. His parents have probably had ... [snip!] ... a life insurance policy on him since BEFORE he was an adult. And even if they didn't who cares? It's none of your concern."</blockquote>



The difference is you know about yours. They took it out on him just before he got outta the service 5-6 years ago, so he woulda been 24?



Life insurance i made to help pay funeral expenses and cover financial losses and debts for that person. Too many peopl use it as a private piggy bank when someones death would have no financial burden on them. Its a payout and shouldnt be.

user banned Due November 7 (boy); 1 child; Dayton, Ohio 26853 posts
2nd Jan '13
Quoting min.:" <blockquote><b>Quoting Smartass *TTC*:</b>" As I said before, my parents have a ... [snip!] ... peopl use it as a private piggy bank when someones death would have no financial burden on them. Its a payout and shouldnt be."


I only know about it because when I got insurance on my son the lady mentioned the one my mother took out on me. My mother never told me.
Life insurance is not designated for anything. I have so much on my son, 200k, that would not just pay for a funeral, that would give me as much time as I needed to not work and grieve. I will always have that money on him. To pay his funeral, to spoil his kids, to pay for therapy for myself, whatever I WANT to do with it. It can be my personal piggy bank if I want it to, because I AM the one who paid into it.



It's my policy, ON him. Not HIS policy.

NopeNotGonnaDOIt 6 kids; Cuba 3000 posts
2nd Jan '13
Quoting min.:" DH and I are purchasing our own life insurance policies. I have a small one through work and we didnt ... [snip!] ... children. Im pretty irritated about it and DH doesnt get why theyre so hush about it. What the fuck? Would you be kinda mad?"


It's probably more like he doesn't want to think about outliving his son, not that he is thinking you'll want to take it away or anything. Maybe he is embarrassed about it, about worrying he might lose his son to the military or afterwards. Some people just don't like talking about death, especially their children's potential death.

Vincent&Me (Laura) 2 kids; Moab, Utah 7847 posts
2nd Jan '13
Quoting [♥]Mrs. Morgan:" <blockquote><b>Quoting Mrs.O!:</b>" a lot of people buy "secret" policies...the person ... [snip!] ... Actually you do have to be related. There has to be an immediate relationship. Parent/guardian/grandparents."


You don't technically have to be related, you just have to have an insurable interest. My husband's company has a policy on each of their employees, because it's a small company and it would cause a financial burden to the company if any of them died. If I remember right, it's called Key Employee life insurance. But you can't just insure anyone.

[♥]Mrs. Taylor 18 kids; Texas 12250 posts
2nd Jan '13

<blockquote><b>Quoting Vincent&Me (Laura):</b>" You don't technically have to be related, you just have to have an insurable interest. My husband's ... [snip!] ... company if any of them died. If I remember right, it's called Key Employee life insurance. But you can't just insure anyone. "</blockquote>




Right, but I couldn't get a policy on you if I wanted to. A company is different from individuals.