denverpilot
Tied Down
We've been messing around with our life insurance for both of us lately, to better match it up with reality.
My wife's stuff, no brainer. Found a better company at a lower price just by shopping it better than ever before. That part is easy.
Me:
I have an ancient policy that's not very big and also not that cost effective per dollar of coverage, but it's there... covers about 1/6 of what we want in total coverage.
I have another policy taken when I was a Private pilot and held for a long enough period of time it's set in stone also and covers about 2/6 of the desired coverage.
There's also a third policy that's just going away. It's not even close on pricing and covers a fairly good chunk of what we want today also. That's what we are trying to kill off. Easy on her, not so easy on me.
Went shopping this around mainly to simplify this by a LOT. (One total policy would be great...) I realized that with the CFI ticket I now have to make sure the underwriter knows I'm involved in "commercial aviation". And whooo boy. Did that pop the rates sky high and remove a number of companies from even being willing to underwrite.
Attempted to contact and do quotes from a broker who says they specialize in aviation stuff. They can't seem to get their act together enough to even get the quote out. Not impressed.
Anyone have an aviation broker they like for life insurance stuff? Perhaps willing to share a number for what you're paying per 100,000 annually for coverage?
Frankly it looks like my cheapest route is to keep two of my old policies, argument it with a policy that excludes aviation, and tack on EAA's AD&D policy that doesn't exclude aviation.
The change by adding the CFI is MASSIVE on anything quoted thats brand new. We're talking a big multiplier vs Karen's rates.
I probably should have realized this earlier but it's honestly not a huge problem for us. Just interesting enough to ask. Also annoying that I can't get it all done with one reasonably priced policy now.
More stuff for Karen to mess with if I were to croak. It also means they're kinda scattered on end-dates, which is fine, but the old ones will run a little longer than we'll probably need them to. Cancellations of all of them will happen before they mature, most likely. All depends on the retirement numbers invested.
These are just partial income replacement on us if one of us keels over before retirement. Not huge policies (No I'm not worth more dead than alive! Haha! Well not yet anyway..!) but not tiny. Mainly designed as a stop gap to allow someone to move into smaller digs, pay cash for the move if desired, maybe build a giant dog fence if needed, and then deal with selling the house on the prairie... all with Denver's
housing in a bubble, making that stupidly expensive to do... without raiding retirement funds.
Term only, of course.
My wife's stuff, no brainer. Found a better company at a lower price just by shopping it better than ever before. That part is easy.
Me:
I have an ancient policy that's not very big and also not that cost effective per dollar of coverage, but it's there... covers about 1/6 of what we want in total coverage.
I have another policy taken when I was a Private pilot and held for a long enough period of time it's set in stone also and covers about 2/6 of the desired coverage.
There's also a third policy that's just going away. It's not even close on pricing and covers a fairly good chunk of what we want today also. That's what we are trying to kill off. Easy on her, not so easy on me.
Went shopping this around mainly to simplify this by a LOT. (One total policy would be great...) I realized that with the CFI ticket I now have to make sure the underwriter knows I'm involved in "commercial aviation". And whooo boy. Did that pop the rates sky high and remove a number of companies from even being willing to underwrite.
Attempted to contact and do quotes from a broker who says they specialize in aviation stuff. They can't seem to get their act together enough to even get the quote out. Not impressed.
Anyone have an aviation broker they like for life insurance stuff? Perhaps willing to share a number for what you're paying per 100,000 annually for coverage?
Frankly it looks like my cheapest route is to keep two of my old policies, argument it with a policy that excludes aviation, and tack on EAA's AD&D policy that doesn't exclude aviation.
The change by adding the CFI is MASSIVE on anything quoted thats brand new. We're talking a big multiplier vs Karen's rates.
I probably should have realized this earlier but it's honestly not a huge problem for us. Just interesting enough to ask. Also annoying that I can't get it all done with one reasonably priced policy now.
More stuff for Karen to mess with if I were to croak. It also means they're kinda scattered on end-dates, which is fine, but the old ones will run a little longer than we'll probably need them to. Cancellations of all of them will happen before they mature, most likely. All depends on the retirement numbers invested.
These are just partial income replacement on us if one of us keels over before retirement. Not huge policies (No I'm not worth more dead than alive! Haha! Well not yet anyway..!) but not tiny. Mainly designed as a stop gap to allow someone to move into smaller digs, pay cash for the move if desired, maybe build a giant dog fence if needed, and then deal with selling the house on the prairie... all with Denver's
housing in a bubble, making that stupidly expensive to do... without raiding retirement funds.
Term only, of course.
