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Lois Said:

Benefits of Survivors?

We Answered:

Let's cut to the chase:

If I were killed in Iraq, these are the following basic benefits:

1. my beneficiary gets $400,000 tax free cash fairly quickly
2. my beneficiary gets I believe either $12K or $15K cash upfront almost immediately for the funeral related expenses that are different from the $400K
3. my wife gets Dependency Indemnity Compensation ("DIC") of approximately $1150 tax free cash every month
4. kids and spouse get free tax free tuition at a state college and various medical benefits and so forth

To be brutally frank, the above benefits will inject that family into serious middle class almost immediately instead of me siphoning off cash all the time.

The biggest disbenefit is that the kids in the family grown up w/o a father. In dysfunctional families, sometimes this is good as the mother has money and a future.

I am not sure exactly if I answer your concerns and questions but these bennies are what i could point to my wife when I went to AFG and IRQ. There are more benefits if a person can chase them, of course.

Good luck!

Doris Said:

Endowment policy advice needed?

We Answered:

If you pay into this policy for the next 7 years you will pay circa £4900 into it. The balance (compared to the surrender value today) Will increase by circa £13000. I would say keep it.

If it is a 25 year policy then you have already made a profit if you cash it in £17K against £12600 paid in).

Is there any way that you could write this policy outside your estate so it would then pass to your next of kin.

Look on the bright side, if you do make 63 and you have cashed it in with a £17K payout and not kept it for £30K, then you will probably be a little miffed.

I understand your feelings towards your ex however, I stand by my original statement to keep it. As the life expectancy in the UK for a female is circa 81, I Think you have a damn good chance of reaching the final date of the policy.

Gerald Said:

Insurance Sales question, are there net broker branches?

We Answered:

I am personally licenced in over 40 states as a requirement for my job function. You cannot sell and in some cases represent an insurance product unless you hold a resident and/or non-resident license in the contract state of your customer.

Unlike the morgage market under FDIC "federal" banking rules the department of insurance will be monitored by the state which you do business.

Charlene Said:

Insurance: sky is the limit?

We Answered:

Go see a LOCAL agent, and have him/her do a Financial Need Analysis (FNA) to help you determine what your insurance needs are; not only life, but disability income.

The FNA will not lie. If you answer the agents questions truthfully, it will determine the amount of life insurance you need, as well as disability income protection and a plan to help you save toward your retirement.

But again I recommend a LOCAL agent. Not one of those internet or TV only companies.

Amy Said:

choose life, choose a job, choose a career, choose a...(trainspotting quote, whats it mean?)?

We Answered:

It's a criticism about the society,consumism and the system.We all want the same things (nice cars,fashionable clothes),we all have the same lifestyles and pains dictated by the system and society's conventions forgetting about our real dreams and what we really need (and want) so we ending figuring out that we have wasted our lives and then is too late for make a change.

You understand what really Renton means with his last monologue:

I'm cleaning up and I'm moving on, going straight and choosing life. I'm looking forward to it already. I'm going to be just like you: the job, the family, the ******* big television, the washing machine, the car, the compact disc and electrical tin opener, good health, low cholesterol, dental insurance, mortgage, starter home, leisurewear, luggage, three-piece suite, DIY, game shows, junk food, children, walks in the park, nine to five, good at golf, washing the car, choice of sweaters, family Christmas, indexed pension, tax exemption, clearing the gutters, getting by, looking ahead, to the day you die.