Life Insurance question

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04-18-2009, 07:33 PM

#11

Golden Bear

Gets Weekends Off

Joined APC: Aug 2007

Position: Skeptical

Posts: 378

Quote:

Originally Posted by Boomer

One Million Dollars? How many toys will her next husband really need?!?

Well, I was really more concerned with getting our 7 month old little girl through the next 20+ years of her life, but hey, if I'm dead and gone I just hope they throw one hell of a party to wish me goodbye!

04-19-2009, 06:52 AM

#12

Winged Wheeler

Libertarian Resistance

Joined APC: Feb 2007

Position: 757 FO

Posts: 1,057

High Risk?

Quote:

Originally Posted by kalyx522

I have term life through AOPA (underwriter Minnesota Life). 500k for $45/month. I am healthy, nonsmoker and in my 20s. I was hesitant to go with regular life insurance because I didn't know which other companies covered people with jobs like us. (I guess technically the insurance industry considers flying a high risk job.)

I'd be interested in seeing the actuarial tables that showed pilots as being high risk. That certainly used to be true, I am not convinced that it is still true today.

WW

04-19-2009, 10:05 AM

#13

FlyerJosh

Chief Jeppesen Updater

Joined APC: Oct 2005

Position: Executive Transport Driver

Posts: 3,080

$1mil for me $500K the wife through state farm- 30 year term. No extra cost to include my aviation activities either professional or personal. Pay about $100/month total.

I'm 31, she's 30. Non-smoker.

04-21-2009, 09:26 AM

#14

Puckhead

Gets Weekends Off

Joined APC: Oct 2006

Position: CRJ900

Posts: 230

Well heres a question, Im 21 single and wonder if you guys think I should get life insurance now since it would be cheap or wait till I actually have a family? Money is tight though since Im also going to school.

04-21-2009, 10:06 AM

#15

kalyx522

Gets Weekends Off

Joined APC: May 2006

Position: Student Pilot

Posts: 849

Quote:

Originally Posted by Puckhead

There is absolutely no reason to get life insurance if you don't have dependents. That's the sole purpose of life insurance - to provide income that would be lost to the family if the breadwinner died. The rate might be cheaper now since you are young, but you would be wasting more money on paying the premium every month when you dont even need life insurance in the first place. Plus if you stay healthy I don't think there would be a big difference in premium between a 21 yr old and a 30 yr old.

I don't have any dependents but I have life insurance because my older brother cosigned some of my student loan. If I died for any reason he'd be stuck with the bill and I couldn't let that happen to him.