Current Events > Buddy of mine is telling me to invest in life insurance

(+) Yeah! (+)

On our elderly relatives so long as they allow it.

I'm not 100 on how it all works but he's telling me you literally don't lose anything in paying into a life insurance. You have to pay a certain amount in within certain years and then you'll get maximum returns up to tens of thousands of dollars back. If not, you'll just get back in what you put in it.

I told him I don't wanna use the elderly to make money. He tells me use of the life insurance on their funerals, give some to the children and help out in general. What y'all think? Shits fake ain't it?

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uh this is real, however someone else will cash your money

when you're gone


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Joeydollaz posted...

uh this is real, however someone else will cash your money

when you're gone

That's fine because I'll be gone.

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He is plotting with your wife.

You get it and you die mysteriously. She takes his unlimited chad dick on vacations all over the world

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Is he the one trying to sell the insurance to you? Ask him how much commission he'll make.

I like Suze Orman's take on life insurance where you would want coverage if someone is dependent on your income. See https://www.suzeorman.com/blog/Life-Insurance-101

Life insurance on the elderly is expensive and doesnt pay out much

As it shouldnt. Life insurance is to replace lost income, of which they have less. They are also much higher risk.

Your friend is stupid
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Ethically it's pretty shady to collect on personal monetary gains from a loved one's death for investment, not to mention, the cost of insurance on an old person (if they even qualify for insurance) would be astronomical, the only winner is the rich insurance company. Trust me on this one.

Just buy some fucking dogecoin so you don't have blood money on your hands.

jfc

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If your elders are okay with it, and you can afford it, I think it's good. Funeral costs are expensive.

Oshawottownage posted...

He is plotting with your wife.

You get it and you die mysteriously. She takes his unlimited chad dick on vacations all over the world

I don't have a wife and we're talking about buying life insurance for the elderly relatives who approves of it.

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Is this more of that "bro advice" that you keep taking?

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OctoPuppy posted...

Is this more of that "bro advice" that you keep taking?

Yes. He's saying you don't lose anything because if the person passes away before you reach the payout max, you simply just get back what you just put in. Not sure if that's true.

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Veggeta X posted...

you simply just get back what you just put in.

This is only for younger ages and it's mega expensive.

I work for a life insurance company's underwriting department. They work hard to make sure you people like that can't actually profit off of life insurance.

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Thank you for the info.

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Whole life insurance is an awful investment.

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Dead pools should make a comeback.

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SK8T3R215 posted...

Whole life insurance is an awful investment.

also true (as in if you want life insurance for yourself, you should almost def go with Term)

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Veggeta X posted...

Thank you for the info.

gotta stop listening to that "bro" advice.

Unrelated, but please buy some Ethereum Classic. This is my bro advice :)

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I have eth already. Bought 375 dollars worth in 2017 on bro advice. Now I'm a little bit under from profiting 1k. I'm done investing on this shit I swear to God.

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