What type of lnsurance do ya'll carry?

[Cookie Monster]

I didn't really know were to place this thread. And I know it isn't something we like to think about but it is a reality. I'm single and getting ready to get engaged. I though y'all would be the people to ask. For those of you that do have familys what type if any Insurance do you carry. Like accidental Injury, Long term disability or Life? Have you seen any problems getting insurance becasue of our occupation. I don't mean to throw up a dark cloud but I thought y'all would have more experince in this area being older and having see more from life.
Thanks -J.E.-

 

[Nickrosis]

I take it you're asking what a person carries for themself, not what a business carries, right?

 

[John Stewart]

You need to have enough to keep everyone that is important to you, so they don't feel your death as a financial burden!
What I mean is if you support some one some how, you need to make your death a sad event not a life altering catastrophy for them!
Later
John

 

[Nickrosis]

Well, I've seen 86 more days than you have. So with all that I've learned in those additional days, allow me to share.

Hopefully your employer has health insurance for you and pays most of the premium. Dental is important.

Other forms of insurance are up to you and what you can afford. If you're able to negotiate it with your employer, you might get all or part of it paid for, too. For supplemental insurances, I would start with disability - short or long term. You can go for high deductibles/low premiums to begin with and tweak later on.

Life insurance policies are another thing to think about. Consider getting a convertible term policy that would payout a healthy sum if you died while your kids are young but convert to a retirement-like account when you're in your senior years so that you don't feel you've wasted all that cash if you outlive the term.

 

[John Stewart]

In my experience if you dont have kids the dental coverage for your self is not worth the premium!
Average person sees the dentist very little.
Kids need alot of work so then it is worth it if you got the little ones!
Later
John

 

[Nickrosis]

Well, you should be seeing the dentist twice a year. That's why I don't have any cavities! and since my genes call for thick enamel.

 

[okietreedude1]

I was fortunate as a kid that my dad got me life insurance. I still have it as well as more. I am covered enough to pay off our house and a little more. My wife is almost the same amount. We also have policies for our kids should something happen to take them suddenly. Our kids policies have a provision that if something should happen to me or the misses, their premiums will be paid until they turn 25.

As for other insurance, we have health w/ drug card. No dental is offered and we havent picked it up. My wife has disability. When I checked into it, it was so high, i couldnt afford it. Remember, we are classed w/ the foresters as a HIGH RISK occupation.

Like John said, cover yourself enough to make it easier financially on the family.

(Just don't go to high to give someone ideas that your worth more dead than alive)

 

[Cookie Monster]

Thank you for the advice I'm blessed to have life insurance from my grandmother since I was born premature. So I was advised to get long term disability. But I was wondering if anyone had experince with that type. Or with getting turned down + seeing high rates because of our profession.

Hey thanks Okie on the heads up for high rates I thought that would be a problem. Is there anything out there along those same lines that might be cheaper? J.E.

 

[Nickrosis]

We have long and short-term disability, which is unique in our industry. Principal is our insurer, but it's not likely they'll continue it nor is it likely we'll find it elsewhere.

 

[Cookie Monster]

Thats very nice that you guys have that. I would like to get some but its not the end of the world if I don't Insurance is nice but its not what keeps you safe. Thanks for all the advice I'll look around when I get back home and see if I can find anything. I work for Bartlett TreeExperts but I've always been on my parents Insurance so I'll see what they have. -J.E.-

 

[ORclimber]

Insurance...double tie in and a petzl hardhat. Thinking about investing in some of those stretch airs. Workers comp is too expensive, and the disability guys so far either laugh or don't call back. Going to try to pick up some term life before turning 35.

If anyone can reccommend a reasonably priced disability carrier for one guy, I'd like to here it. The last one reccommended on this board didn't pan out in this state.

 

[Cookie Monster]

Good Call "Or" on the hard hat and double tie in. Working safe every day is the best bet. On avoiding injurys it is easy to take chances some time ya just have to stop yourself and take the time to do it right. -J.S.E.

 

[Nickrosis]

Let me know how Principal works for you.

 

[okietreedude1]

Sure guys, double tie-ins and hard hats are great....but on the job is not the only place 'accidents' happen. This disability ins. also protects you against tripping in YOUR yard while mowing, falling over the dog or kids toys. In other words, work place accidents are just the tip of the iceberg. The main reason for disability ins. is for when you are injured such that you are unable to work, it picks up on your paycheck until you can go back. It also helps with dr. bills.

If you do look into it, you might cringe and call yourself a 'landscaper' or 'consultant'. It might get you cheaper rates.

Happy Hunting!

 

[Nickrosis]

I will say that classifying yourself under another category, while considered fraudulent, may be the only way you get insured. So, with that in mind, you might want to consider what all your job description entails and explain that you spend only 30% of your time climbing or 10%, etc. I mean, you spend a lot of time sleeping, eating, and driving, right? Except for treeboaters like myself who are always climbing.

 

[Koa Man]

I have enough life insurance to pay off the mortgage and any other bills, car, etc. that we have plus have the family live at the same lifestyle till the youngest one is out of school. I looked into disability insurance and was not able to get what would be considered a reasonable rate. I am talking about $4000 premium for $2000 a month payment starting 30 days after I get hurt. When I told the insurance company I needed about $10000 coverage a month, they would not even give a quote. In contrast, my friend who is a Physical Therapist, can get a $8000 a month income coverage for around $1200 a year. In the 20 years I have been climbing trees, I have been hurt only once, and that was early in my career. I am a lot smarter now and don't take the chances I did when I was younger. Heck, I don't even ride motorcycles any more, even though I rode hi perf sport bikes from 1970 to 1995. I now consider them too dangerous mostly because of the proliferation of stupid car drivers coupled with cell phones.

 

[Nickrosis]

Did you share that you are the business owner and therefore have a lot of your time dedicated to office work?

 

[Koa Man]

I am the business owner but all the office work etc is done at night or on the weekends. During the day I am climbing.

 

[Nickrosis]

Ah...well, they get to pick the rates....

See about Principal, though.