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Can you explain these baby insurance plans like the Gerber Grow-Up Plan? Those commercials were always on the TV when I was younger and it always felt like a huge scam to me. My grandma had done something similar on my brother and I and she thought it was gonna pay out a bunch of money when we turned a certain age (like 26 or something) but it did not because she misunderstood something about the policy and she is super tore up about it. I feel bad but I didn't really have anything to do with it, I was a baby at the time. Wish she had put that money she was paying into some kind of savings account instead though.
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Aug 16, 2013 13:09
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| # ¿ May 6, 2024 08:03 |
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I had a similar thing happen to me once when a doctor's bill that should have been paid by my insurance went to collections for non-payment for some reason. I just called my insurance and they cleared it up. It being that long ago though...
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Dec 18, 2013 22:09
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That sounds reasonable. I get term life from work equal to my yearly salary but if I didn't I'd get a cheap term plan that was big enough to cover the private student loans my parents co-signed. I have a terrible opinion of whole life because my grandma got taken by one of those plans thinking it'd pay out for my brother and I when we were in our mid 20s now. She got it when we were born and I'm 28 now and the plan is worth like three hundred dollars or something stupid like that. I know some of you guys are experts but seriously, gently caress whole life insurance sellers, it might be a worthwhile expense for some people but those companies basically prey on parental worries and financial ignorance.
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Dec 27, 2013 16:08
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It didn't depreciate, the "investment" value of the whole life policy only started to accrue value when we were 18 and it was barely anything. I mean, it's still worth the original insurance value if I die but she bought this plan with the express intent of us getting some money without us, you know, being dead. It would have been better for her, return wise, to throw all those payments in a sack and give us a wad of moldy old cash when we were adults. Because 18 years of payments disappeared into the void with nothing to show for it.
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Dec 28, 2013 15:23
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I rent a room in a house from the guy that owns it. He also rents rooms to two other people but none of us have a lease or anything, we're just friends of the homeowner and pay him cash every month for rent. There's no separate entrances or kitchens or anything for each renter, it's just a (large) house. I've been thinking of getting renter's insurance because I have a feeling that my poo poo might not be covered under his homeowner's insurance if the house burns down or something. Can I do so even though I don't have a lease?
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Mar 1, 2014 13:25
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| # ¿ May 6, 2024 08:03 |
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Yeah I just talked to him about it and he said since they'd cut him a check if that happen it'd basically be up to him if he wanted to compensate me for my losses, so if I was worried about it he'd write me up a lease or something if I needed it to get insurance. So I'm going to look into it and see if it's worth buying, thanks. Edit: Ok, Progressive is like $240-300 a year depending on what deductible I get. My yearly insurance will still be cheaper than I was paying just for my car last year but I need to think about this a bit. Now for the deductible in this policy, that'll apply on any claim right? From like a roof leak or burst pipe that damages, say, my bed, all the way up to the house burning down and taking out everything I own? 100 HOGS AGREE fucked around with this message at 15:58 on Mar 1, 2014 |
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Mar 1, 2014 15:09
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