HWZ Forums

Login Register FAQ Mark Forums Read

Can I get some advice please :(

Like Tree3Likes
Reply
 
LinkBack Thread Tools
Old 01-12-2019, 11:19 AM   #31
Supremacy Member
 
Join Date: Jun 2010
Posts: 9,686
actually i treat the PA policy as a gamble that if i were to die in an accident, there will be a bonus in my estate. $370/yr to fight for additional 500K.
Police: "Spouse of Zombiewar? I'm afraid we have terrible news to report. Your dear Zombiewar died earlier today."

Spouse of Zombiewar: "Oh no! Are you sure?!?!"

Police: "Yes, unfortunately Zombiewar is no more."

Spouse of Zombiewar: "Uh, would you mind telling me HOW he died?"

Police: "Zombiewar was run over by a bus."

Spouse of Zombiewar: "Yahoo! Jackpot, baby! ....Uh, OK, thank you for that information."

....Seriously, is this your "thinking"? Who the hell cares how you die? Your dependents don't, or shouldn't. They either have genuine financial need or they don't. So-called "Accidental Death Insurance," which is the part of Personal Accident Insurance you're describing, is utterly dumb.

Would you buy home insurance in advance for the home you'll buy later on, if it also turns out to be cheaper to buy early? You will probably have your own place before you have dependents (kids). So makes sense to buy home insurance early on also.
Why stop there? Why not insure your unborn grandchildren now? After all, it's "cheaper."
BBCWatcher is offline   Reply With Quote
Old 01-12-2019, 11:23 AM   #32
Senior Member
 
Join Date: Feb 2015
Posts: 1,922
Police: "Spouse of Zombiewar? I'm afraid we have terrible news to report. Your dear Zombiewar died earlier today."

Spouse of Zombiewar: "Oh no! Are you sure?!?!"

Police: "Yes, unfortunately Zombiewar is no more."

Spouse of Zombiewar: "Uh, would you mind telling me HOW he died?"

Police: "Zombiewar was run over by a bus."

Spouse of Zombiewar: "Yahoo! Jackpot, baby!"
Cryophoenix is online now   Reply With Quote
Old 01-12-2019, 12:45 PM   #33
Senior Member
 
undiscern's Avatar
 
Join Date: Sep 2005
Posts: 2,440
When dbs was $15,everyone says crash crash, do you dare to pump in 100k?
undiscern is offline   Reply With Quote
Old 03-12-2019, 10:03 AM   #34
Junior Member
 
Join Date: Nov 2019
Posts: 11
Police: "Spouse of Zombiewar? I'm afraid we have terrible news to report. Your dear Zombiewar died earlier today."

Spouse of Zombiewar: "Oh no! Are you sure?!?!"

Police: "Yes, unfortunately Zombiewar is no more."

Spouse of Zombiewar: "Uh, would you mind telling me HOW he died?"

Police: "Zombiewar was run over by a bus."

Spouse of Zombiewar: "Yahoo! Jackpot, baby! ....Uh, OK, thank you for that information."

....Seriously, is this your "thinking"? Who the hell cares how you die? Your dependents don't, or shouldn't. They either have genuine financial need or they don't. So-called "Accidental Death Insurance," which is the part of Personal Accident Insurance you're describing, is utterly dumb.
Yeap. my dependents sure shouldnt need to care how i die.
What i need to do while alive is to ensure that if i were to die one day, out of the sudden in an accident, they will have a sum of money. Is that not the reason to buy insurance? Similar to buying term insurance.

if spending $370/yr for a 500K PA policy is deemed not worthwhile in your opinion, thats cool with me.
Zombiewar is offline   Reply With Quote
Old 03-12-2019, 10:20 AM   #35
Junior Member
 
Join Date: Jun 2019
Posts: 87
Yeap. my dependents sure shouldnt need to care how i die.
What i need to do while alive is to ensure that if i were to die one day, out of the sudden in an accident, they will have a sum of money. Is that not the reason to buy insurance? Similar to buying term insurance.

if spending $370/yr for a 500K PA policy is deemed not worthwhile in your opinion, thats cool with me.
I think the point BBC was trying to make is that it is not advisable to buy a narrowly focused insurance like PA, as your dependants won't get anything if your cause of death is not an accident.

Recommended life insurance instead which doesn't distinguish between cause of death
tesarise is online now   Reply With Quote
Old 03-12-2019, 11:48 AM   #36
Junior Member
 
Join Date: Nov 2019
Posts: 11
I think the point BBC was trying to make is that it is not advisable to buy a narrowly focused insurance like PA, as your dependants won't get anything if your cause of death is not an accident.

Recommended life insurance instead which doesn't distinguish between cause of death
Totally agree.
Medical/hospitalisation insurance is the most important one should get as early and comprehensive as possible.
Followed by term life insurance.
PA is optional after the above 2 is sufficiant.
I was misunderstood about DII previously prior been pointed out by BBC. After reading about it. Its actually a good policy too.... But I think its not for everyone. Eg freelancer, high allowance/commission earner, business owner etc. One also have to note that DII is also much more complicated than most insurance when trying to claim. Thats when those mini fonts and asterisks in the T&C gets magnified.

Anyone here has got first hand experience in claiming or has helped client claim for DII?
Zombiewar is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On