Re: Cost of SISIP life insurance

by By the Bay Wed 10 Jan 2018, 17:05

Nemo wrote:By the Bay... You might want to check the link you provided....

Thank you Nemo!
I didn't even notice that I wrote www.speciallife.ca when the correct address is www.specialtylife.ca.
The link is now correct!

Cheers,
By the Bay

by prawnstar Wed 10 Jan 2018, 15:24

acerman1234 wrote:Prawnstar:

Just a quick note.......the older CAR (coverage after release) has a PUC attached to it.
Meaning that when you reach 65 ( I think) your coverage ends with a 10% coverage
attached at no cost. Basically your PUC will pay ALL your past premiums.
eg $250,000 converts to $25,000 with no cost. So you actually receive Free coverage
until it is converted to the PUC.

acerman1234

Thanks Acer that makes me feel better. I checked the SISIP website and you are bang on. Not such a bad deal after all.

by acerman1234 Wed 10 Jan 2018, 15:03

Prawnstar:

Just a quick note.......the older CAR (coverage after release) has a PUC attached to it.
Meaning that when you reach 65 ( I think) your coverage ends with a 10% coverage
attached at no cost. Basically your PUC will pay ALL your past premiums.
eg $250,000 converts to $25,000 with no cost. So you actually receive Free coverage
until it is converted to the PUC.

acerman1234

by **Nemo** Tue 09 Jan 2018, 15:06

By the Bay... You might want to check the link you provided....

by Willie Mon 08 Jan 2018, 22:06

NAVRATILOVA wrote:I don't believe in life Insurance because I don't believe I will ever die! And if I'm wrong then I only hope they have a legion where I end up....Legit!

Life is short ~ smile while you still have teeth. Very Happy

by Guest Mon 08 Jan 2018, 19:51

I don't believe in life Insurance because I don't believe I will ever die! And if I'm wrong then I only hope they have a legion where I end up....Legit!

by prawnstar Mon 08 Jan 2018, 18:29

By the Bay wrote:Wow! 245.00 a month? Yikes!
The best advice I can give you is to get an Insurance Broker!
I only deal with brokers for home, auto, and life insurances because they find you the best comparable prices with insurance providers. My policy includes health issues and I only pay $56.72 and my husband policy includes heart conditions with high blood pressure and he pay $87.39 a month. They also specialize in Life Insurance for people over 50 years of age and offer life insurance policies eligibility up to age 85. Plus you are not required to pay a brokerage fee....they are payed by their insurance providers. You can deal with any Brokage that you like! I deal with Special Life. I find them to be very reasonable. You can even complete an online quote at www.speciallife.ca.
Disclaimer: I am not affiliated with this insurance company only as a client...nor will I receive a discount for recommending their services. I am NOT a Insurance Recruiter! It's sad that I actually have to state this....I don't need trolls sending me nasty messages.

Cheers,

By the Bay

Thanks for the advice I will do that.

by By the Bay Mon 08 Jan 2018, 15:40

Wow! 245.00 a month? Yikes!
The best advice I can give you is to get an Insurance Broker!
I only deal with brokers for home, auto, and life insurances because they find you the best comparable prices with insurance providers. My policy includes health issues and I only pay $56.72 and my husband policy includes heart conditions with high blood pressure and he pay $87.39 a month. They also specialize in Life Insurance for people over 50 years of age and offer life insurance policies eligibility up to age 85. Plus you are not required to pay a brokerage fee....they are payed by their insurance providers. You can deal with any Brokage that you like! I deal with Special Life. I find them to be very reasonable. You can even complete an online quote at www.specialtylife.ca
Disclaimer: I am not affiliated with this insurance company only as a client...nor will I receive a discount for recommending their services. I am NOT a Insurance Recruiter! It's sad that I actually have to state this....I don't need trolls sending me nasty messages.
lol!

Cheers,

By the Bay

by prawnstar Sun 07 Jan 2018, 19:51

Thanks Nemo and Propat. I did some checking on line and the rates I saw were almost $100 more than I'm paying now. I guess that's the cost of staying alive. LOL I'm good for 300K till I'm 70 after that I'm on my own.

by propat Sun 07 Jan 2018, 18:00

wow that's a lot of coin but that's the big problem with all term life I guess . whole life is always the best . not sure of your situation but take a good look and see what amount of insurance you NEED . the amount you need may be much lower than you have . I have whole life started before I joined the military however given my situation I don't need it at all .

questions to ask yourself .

is your mortgage paid off or insured ?

what is the total of pensions and benefits you leave to your spouse ?

can they make it on that amount with you not around buying piles of beer and crazy crap of the internet ?

ok that last one was worded more for me than you but you get the idea .

propat

by **Nemo** Sun 07 Jan 2018, 16:54

For actual live insurance after age 60 and with pre-existing conditions, there really isn't much. You can get accidental but then it isn't life. You can get those small life insurance plans from companies like CPP (NOT the federal CPP) but you are looking at very small amounts like 25K. But for 250K or something...you simply won't get life insurance after 60 and with any pre-existing conditions. Accidental you could but then it is not life insurance so you only collect if you get in a car accident or other accident.

by prawnstar Sun 07 Jan 2018, 11:15

NO just SISP CRA (coverage after release) The older you get the more it costs then at seventy you are fracked. That's why I wanted to ask others in their sixties if they have cheaper life insurance.

by propat Sun 07 Jan 2018, 10:05

$245.00 ??? seems like a lot buds ya sure you are not lumping medical and dental in there ?

propat

by prawnstar Sat 06 Jan 2018, 16:52

I have been paying into SISIP since we were ordered to do so in the seventies. We were never told it was term insurance and even if we were I wouldn't have known what that meant. In six years my "term" ends where I will have no life insurance. I currently pay them $245 a month. Are there any other options out there?

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