A short one everyone should read

Discussion in 'Business Operations' started by Envy Lawn Service, Jan 6, 2007.

  1. Envy Lawn Service

    Envy Lawn Service LawnSite Fanatic
    Messages: 11,087

    So I thought I would just share a caption from that post for all to read.

  2. Richard Martin

    Richard Martin LawnSite Fanatic
    Messages: 14,699

    Yup, I'm guilty of that.
  3. Charles

    Charles Moderator Staff Member
    Messages: 8,954

    There is only so much Insurance people can afford to pay.
    I mean really,:


    I have thought about this and then thought I need enough money left over to eat:rolleyes:
  4. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Messages: 7,961

    Insurance is nice, and expensive.
  5. d&rlawncare

    d&rlawncare LawnSite Senior Member
    Messages: 741

    I pay....
    $48 month for $500,000, this is a 30 year term life
    Im 31 so this will last til im 61. My Ins guy told me to apply for a new 30 year term every 5-10 years.

    $33 month for $300,000 accidental death and dismemberment. (AD&D)
    This includes 150,000 for wife and 60,000 for each child (2).

    And I get 50% disability for up to 2 years at my job...

    Wish I could afford more but actually want to drop the AD&D.

    Overall I pay $81.00 a month for peace of mind that my family will be able to pay off all the bills including house and have enough money for my wife to last a couple years til she finds a new man.
  6. Duekster

    Duekster LawnSite Fanatic
    from DFW, TX
    Messages: 7,961

    that would cut into my beer money too much. :walking:
  7. Waterscapes By Design

    Waterscapes By Design LawnSite Member
    Messages: 237

    That doesnt sound like too much at all....Give me some more info on all that you got set up, 80-100 a month isnt too bad
  8. tthomass

    tthomass LawnSite Gold Member
    from N. VA
    Messages: 3,498

    Explain the 'key man' policy please???

    I'm 22 and have auto and health.......no life. I think my parents may have life insur on me, not sure. Anyway, I'm single and basically have nothing going for me in means of a house, wife.....outstanding responsibilities. Just the business, truck payment and rent.
  9. MSS Mow

    MSS Mow LawnSite Senior Member
    from Maine
    Messages: 450

    Your money would be better invested in a regular life insurance policy, rather than an AD&D policy. Insurance companies LOVE AD&D policies because the payout % is extremely low. They make a killing on these policies. An AD&D policy covers only a tiny portion of deaths, therefore, likely leaving loved ones with no protection. AD&D policies do not even cover all types of accidents, so be very cautious when purchasing them.

    Just something to think about. You should talk to a licensed insurance agent.

    If you're in good health, at 31 years of age, $33 will get you some decent life insurance protection. Check into different types of policies to see what is best for you, whether it be a term, universal, variable, variable universal, whole life insurance, or even AD&D....just have someone go over each policy type so you know what you are buying. I used to sell life insurance so I know that not every policy is going to work for everyone.

    Best of luck to you.
  10. d&rlawncare

    d&rlawncare LawnSite Senior Member
    Messages: 741


    they will give you a free quote...free medical exam. They "search" different companies for your best rate. I had to pay my first month based on the quote. If something comes up before they offer you a final contract (something medical/something better) you can not accept it and they will send you money back. They will be able to explain it better.

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