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What will happen to your loved ones when you die?

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 Posted 6/1/2014 6:18:06 PM
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There isn't a proper section for this topic, so this seems like the best of all areas to post this.   It's an important subject that I don't think many if any life extension practitioners/followers have discussed. 

I know, nobody likes to talk about dying. Nobody likes to imagine that (as we know now) they will eventually die. Many folks, especially the ones in the life extension sciences, believe they may conquer death and live forever in their mortal existence.

To some, living forever may seem grandiose, far-fetched, wacky, far-out, a pipe-dream, sacrilegious. Those who study and practice life extension, have a broader view of our existence and believe that some day human beings will live a mortal existence forever.

Some believe that technology will advance allowing humans to transcend, and evolve into part human, part machine, with the mortal spirit or 'life force' captured, preserved in some digital form that needs only hardware and software updating to keep one alive and progressing.

All of that sounds exciting.  For the future.

The question is, what are YOU doing NOW, so that your surviving loved ones (and if you don't have cherished loved ones, than a charity of some sort) can carry on the evolution of their life extension practices without financial burden?

Speaking to those who do have cherished loved ones, what have YOU done to prepare for your death so that your dependents are protected financially?

Life insurance is the answer.  No, it's not 'just insurance'.  Life insurance is solace, lifestyle, and security for your surviving dependents.  It frees up large amounts of cash to keep the utilities paid, the mortgage current, food on the table, education for the kids.  It also helps pay your final expenses.  For life extension practitioners it means leaving a financial legacy so that your loved ones can continue costly doctor visits, exams, blood tests, and supplements.

Think about this statement for a second ... Life insurance is ONLY for those who have someone they TRULY love.  Think about that for a moment.  Do you have a spouse? A child? A grandchild?  Do you truly love them enough to not solely focus on the self-involved acts and vanity that being a life extension practitioner/follower evokes?

I'll say it again ... Life insurance is ONLY for those who have someone they TRULY love.  Makes you think doesn't it?  Perhaps it makes you question if you truly value love enough to do something that you will never gain from but they will.

Purchasing a well planned life insurance policy for yourself is probably one of the most unselfish acts there is.  It truly demonstrates UNCONDITIONAL LOVE for your cherished loved ones. 

In fact what you're really doing is protecting THEIR life. Making sure THEIR life can continue forward unencumbered by financial burdens.

Think about it this way ... Let's suppose you die unexpectedly at 50, 60, or 70 years, and you leave your dependent(s) a million dollar life insurance policy. Let's suppose a major life extension discovery happens in THEIR lifetime, but it is too cost prohibitive for most people.  Wouldn't you want your loved ones to have the opportunity to take advantage of such a discovery?  Life insurance can do just that.

Perhaps you wish for yourself and/or your loved one(s) to partake in some form of cryonics when you die. I'm sure that is a costly proposition.  With proper estate planning and life insurance that dream can become a reality.

If you haven't already, it's time you think long and hard about this subject. It is very important. Contact a sincere, knowledgeable life insurance broker who can answer your questions. Find out the facts.

Oh one other thing ... Many people say.. "I can't afford life insurance!"  You know that expensive latte you drink once a day can probably pay your monthly life insurance premiums.  Ask yourself this question ... "What is the 'latte' in my life that I can do without?"  I'm sure there is something extravagant in your life you can delete if you crunched the numbers.

-Tom


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Post #13034
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 Posted 6/17/2014 6:45:30 PM
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I appreciated this advice and really took it to heart, buying my wife a policy that I'm going to present to her on our anniversary, among other gifts.
As an added bonus, the insurance company I applied through gave me a copy of my medical tests, saving me money that I would have spent on medical testing. This easily paid for the first 9 months of premiums!


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 Posted 6/18/2014 3:54:20 AM
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Another thing to think about is long term care insurance. Unless one has significant savings, without it, one's family members can be faced with significant hardships.

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 Posted 6/19/2014 7:21:54 AM
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DDye (6/18/2014)
Another thing to think about is long term care insurance. Unless one has significant savings, without it, one's family members can be faced with significant hardships.


Well, there is another obvious option. For now I hang around to care for my wife. Whatever,   ...Oscar
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 Posted 6/19/2014 8:02:06 PM
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DDye (6/18/2014)
Another thing to think about is long term care insurance. Unless one has significant savings, without it, one's family members can be faced with significant hardships.


+1 DDye

It's not only the financial hardships, but the quality of care you want in old age.  Medicare nursing home is is almost like dying a tortured death. Often a patient is neglected, and treated with disrespect. The horror stories abound regarding nursing care.

I got my mother to purchase a long term care policy from: GE Capital which is now called Genworth, and she kept the policy in force all the way up until the day she passed. The policy would have paid for most of her private hospice care. Let me tell you this was a very nice facility she was treated with respect and dignity and the rooms were comfortable private.

Medicare will pay for hospice as long as the patient dies within few months after being admitted.  this is what happened with my mother. I admitted to hospice in a month later she passed. Medicare pay the whole month's bill.

most people however, don't die like that. Most people get sicker and sicker, weaker and weaker, and need more and more care as they get older. This is where long term care insurance is invaluable.

In my moms case she paid premiums for about 14 years but we ended up not having to use the insurance. This is because I decided to try to take care of her myself, until she was almost ready to pass away

My suggestion is do not do what I did as it's too much of a burden and stress on the caregiver family member. Get long term care insurance and when your loved one needs long term care, don't try to be a hero. Use your insurance and admit them to a facility that willl take care of him/her for you.

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Post #13186
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 Posted 6/20/2014 3:32:50 AM
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Some long term care policies will contribute to the cost of a home health aid, but not everyone is able to live at home.

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 Posted 6/20/2014 4:28:05 PM
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Kelton (Fastingly) (6/17/2014)
I appreciated this advice and really took it to heart, buying my wife a policy that I'm going to present to her on our anniversary, among other gifts.
As an added bonus, the insurance company I applied through gave me a copy of my medical tests, saving me money that I would have spent on medical testing. This easily paid for the first 9 months of premiums!


Kelton, 

Good to hear. 

-Tom

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Seize every opportunity to put your best foot forward.

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If you don't stand for something, you will fall for anything
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Post #13196
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 Posted 6/21/2014 4:47:14 AM
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The post from Tom let you really think hard to what you are really ready to give vs. receiving. I appreciated it. And DDye's longer term care insurance is also something important to be pondered.
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