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Veterans Life Insurance should I get it.

Discussion in 'Other Off Topic Forum' started by 96impalaSS, Feb 12, 2004.

  1. 96impalaSS

    96impalaSS F1 Rookie

    Dec 8, 2003
    3,504
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    Chris
    I keep getting things in the mail about it. And there offering me a $250,000 plan for something like $228 a year. Is there any better deal out there than this. Wondering if anyone had any input on this.
     
  2. Nibblesworth

    Nibblesworth Formula 3
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    Nov 29, 2002
    1,756
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    BillyBoy

    Is there *ANY* reason why you should get it?

    The only true reason to get it is if you have a wifey and kids that'll hit the sh!tter if you die. For example - you have a $750,000 house with a $6,000/month mortage, and an addition $3000/month in bills. Your wife doesn't work. You die. She looses the house and your kids end up toothless on the streets.

    Other than that, you'd be wasting $228/year.
     
  3. 134282

    134282 Four Time F1 World Champ
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    Aug 3, 2002
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    Carbon McCoy
    Impala, Simplesworth is right on this one... Never buy life insurance through the mail... What state do you live in...? Mid West, right...? If you're really interested in life insurance, PM me... No one here in my office is licensed beyond NY or NJ, but i'm sure i could make a few calls and find someone you could trust a little more than a piece of paper in the mail...
     
  4. Doody

    Doody F1 Veteran

    Nov 16, 2001
    6,099
    MA USA
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    Mr. Doody
    save your cash. you're gonna need it to buy your way out of being bubba's beeyatch in prison ;)

    sorry, i couldn't resist that one, dude :)

    you almost certainly don't need insurance at this time in your life. any debts you might have right now will be nobody-special's problem once you're planted.

    doody.
     
  5. 96impalaSS

    96impalaSS F1 Rookie

    Dec 8, 2003
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    Chris
    Thanks for the info guys.Thanks for the info guys. Ill probally take Doody's advice on this one and just wait awhile to get it.,
     
  6. Slim

    Slim Formula 3

    Oct 11, 2001
    1,735
    Pacifica, CA, USA
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    richard
    I don't know how old you are but my mom died at 49 and my dad 58, both of cancer and my brothers and I certainly look at my dad's purchase of life insurance to have been a smart choice that is making things easier for me to take care of right now. So if you have any kids, why not buy some? And specify a beneficiary if you can so that it will pay them without having to go through probate. I have two kids and will be buying life insurance on myself soon.
     
  7. 308GTSi

    308GTSi Rookie

    Feb 6, 2004
    4
    Are you a veteran? Is this the VGLI (Veterans Group Life Insurance) or something just named "Veterans Life Insurance"?
     
  8. 96impalaSS

    96impalaSS F1 Rookie

    Dec 8, 2003
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    Chris
    Im a actual Veteran its the VGLI
     
  9. 308GTSi

    308GTSi Rookie

    Feb 6, 2004
    4
    I have it & pay $16/month for $250K. It starts with the age you discharged from the srevice. The only bad thing is how the rates increase with age. They go up drasticly when you get to 40 I believe the age is & the older you get the more it is. I think a 60 YO man pays like $350 month.
    It is good for me right now. But when I get older I'm going to switch policies.

    I'd be weary of cards you got in the mail. If you want to get it or are interested in it. Go to this site here http://www.insurance.va.gov/index.htm

    It will tell you everything you need to know about it.


    If you hav been seperated from the military for any legenth of time( normal discharge) you only have like 6 months from DOS to be eligable & up to 1 year for 100% disability( like myself)
     
  10. 96impalaSS

    96impalaSS F1 Rookie

    Dec 8, 2003
    3,504
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    Chris
    Thanks.
     
  11. 308GTSi

    308GTSi Rookie

    Feb 6, 2004
    4
    Your welcome. I edited my above post because I forgot some importany info.

    It's the last few lines in my reply.
     

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