With all the Avy Deaths, what Kind of Insurance do you have?

[Arctic Thunder]

Man I feel for every family and every friend that has lost a loved one doing the sport we all love.

But I have to wonder how many people have thought ahead enough to have good life insurance?

I have two young boys at home a wife and going out and playing in the back country without the insurance to protect their way of life is pretty crazy IMO.

Im just thinking of the those families that have just lost the only bread winner in their family and don't have any idea where the money is going to come from to make house payments, pay for college, etc.

Thunder

 

[xrated]

life insurance via work and I shell out the 10 extra a paycheck to add some more. If I kick it early, the house will be damn close to paid for....course the wife is a stay at home mom, so I can see more maybe needed.

 

[Duke]

One million, had to get enought to help my family start a new life. That is not that much money when you consider mortgages, college/university for children, wifes retirement, re-education etc. I cant imagine the financial trouble my family would be in if I were disabled or killed without good insurance.

 

[Cyle]

Just got it on my truck loan, only 19 so i'm not exactly worried about it yet, everything else is payed for and no one is depandant on me.

 

[slednutz]

parents said i'd be better off if they were dead so we got good life insurance if something was to happen to my father while we were sledding. knock on wood though that nothing bad would ever happen. all of these recent avy deaths definently do make you think about it though

 

[Mag]

1 Mill...The ol upped it first time she went with us on a ride, hers is @ 500g I'd like to lower it because it can be looked at as a "motive"

 

[Clarke673]

Full health no life.

 

[H2SNOW]

life insurance via work and I shell out the 10 extra a paycheck to add some more. If I kick it early, the house will be damn close to paid for....course the wife is a stay at home mom, so I can see more maybe needed.

stop writing my posts !! lol

Im in for 600 grand and the wife is a stay at home mom too

 

[AlaskaSnowSafaris]

1 Mill...The ol upped it first time she went with us on a ride, hers is @ 500g I'd like to lower it because it can be looked at as a "motive"

2 Mill..... and 500g for misses! Owning a big mountain guide buisness, we increased it back in 2002. I have had a policy from NYL since 1993 when I was only 19. What the heck was I thinking back then??????

I wonder if my wife lookes at it as a "motive"? She is a stay at home mom with a 15 month old and another in the oven! I can't even begin to think what it would be like if I was taken.

Chris

 

[Blu Du]

what do these policies cost?

 

[revpilot]

I bought several 100-200k policies hoping they wouldn't all go bankrupt at the same time. It's also easier to get two 250k policies as opposed to 1 500k policy, they want physicals and medical records and all that for anything 500k and up. Flying airplanes makes it hard, Insurance companies would rather insure crash test dummies than pilots. Make sure you leave a list somewhere for your family with all the contacts and policies so they can transition as smooth as possible without you.

 

[Bullheadmoto]

I was a financial planner for 12 years before I got out to go into aerospace/defense manufacturing two years ago. Nice job to all you guys who stepped up. Depending on your individual economic situation, it typicaly takes between 12-20 times your annual income to "replace" you financially. That's just to maintain the life you have provided for them now, and doesn't buy your wifes new boyfriend a Ferrari as some people think. It simply keeps the roof over their heads, the refrigerator full, the lights on, toys under the Christmas tree, college, necessary replacement of vehicles, appliances, home/business maintainance, etc, keep pace with inflation, and the wolves away from the door. And for you business owners, even more so.

Someone always pays for life insurance...you pay a little for having it, or they pay dearly for you not having it.

Need motivation? I had a client whose dad died in a car accident when he was five years old and his sister was 7, and dad had only $5,000 in life insurance. The mom was a stay at home mom, and they had to sell the nice house, pull the kids from private school, had to move to the other side of the tracks, went on food stamps and the whole nine yards until the Mom got an okay job but then she was never around because she had to work. He hated the memory of his dad and brought it up all the time...."My dad totally deserted us...it's just as though he packed up and left town. He ruined our childhood and I'll never forgive him for that."

 

[IowaSnowCat]

Hubby has $100,000 (not much) but we pay $20.46 a month and he is a smoker but young and healthy (29) with American Family Insurance. We also purchased additional Accidental Death and Dismemberment Insurance - another $100,000 ($6.26 month). On all our notes we pay an extra fee ($10-$25) so if one of us dies the note is paid for in full (mortgage and vehicles).

If he would ever become disabled, all of our policy premiums and note payments are paid for too.

I've spent $75-$100 a month in worse ways - THIS IS A GREAT INVESTMENT!

 

[Racer220]

Have had life ins. ever since I got married. 2 kids and the wife I would hate to leave them with the burden on top of me being gone forever. Got enough to pay everything off + any funeral costs and a nice reserve to keep things going. The passion for riding hasn't changed, but the actions/decisions have evolved tremendously since the fam came along.

07

 

[air4ce1]

here's a quick insurance calculator. Zander is a good site to get quotes from various companies for life insurance.
http://www.zanderins.com/term/insurancecalculator.aspx

 

[go high fast]

full comprehensive health as a dependent on my wife employer plan.

20 year Term life at $200,000 which in convertible to Whole Life.

Disability - applied 2 yrs ago and was declined due to pre existing medical condition. Too bad because the DI is what I think is as important as health for sledding.

 

[MT_mtn_climber]

here's a quick insurance calculator. Zander is a good site to get quotes from various companies for life insurance.
http://www.zanderins.com/term/insurancecalculator.aspx

Wife and Kid are taken care of if I kick it, Vehicles, house, college, etc paid for..... Thinking about getting something else setup though. I also think a lot more before I try something stupid after having my kid, You are taking a risk for you and your kid. The wife is a professional with a good career and would be alright without me financially as long as I have the things I stated above taken care of and my son taken care of.

 

[Rixster]

I have a great life insurance policy. That being said I also have the great advantage of rideing with a group of VERY intellegent people. We all check the avy report before EVERY ride. We talk about it onthe way to the mountain. We pack and wear the proper gear. We attend the classes. We practice with our beacons, not just wear them. We exercise caution!! And we PRAY that we will never have to use the tools and knowledge we have aquired.
Its going to be a rough year, use your head, talk to people in the parking lot to be sure they know of the danger!!!

STAY OFF THE HILLS !!!

 

[likkerpig]

I'm worth more dead than alive, unfortunately for me. I maxed out everything I could when I started working where I am now. Knowing what my recreational hobbies are I want my wife and kids to be somewhat taken care of IF something were to happen. Things go wrong for me, at least they'll be sitting on enough to pay off the house, car, any bills, etc...and have more than enough left to live comfortably on for a long time.

 

[HPJUNKIE]

$500K Cash,House pd for @ present,lake property life insured,another $100K thru work,business with partner double insured,I'm sure the family would rather have me around though, but I believe you have to think about tomorrow, yet live for today...