Investing megathread extravaganza

[DaFace]

A place to talk about investing stuff.

[scho63]

Originally Posted by MTG#10

The only scam going on with AMC is from the hedgefunds. Retail choosing to buy a stock in mass isn't a scam, good fundamentals are not a requirement to buy in.

Just remember this.........

[neech]

Originally Posted by neech

AFRM is a nice one this morning, still has legs I think.

This preformed outstandingly, anyone else get in on this.

[Hog's Gone Fishin]

Has anybody here ever sold a life insurance policy? I'm wondering how much these places that buy them will offer. My current 500K policy is expiring so I was planning to replace it with a 250K policy, I've sent information to Covington Direct who buys policies and am waiting for their response. But if I can get 50% of the face value then I'd go ahead and get the 500k replacement and have the 250K money now. AND they would have the policy payment to contend with.

Anybody have experience with this?

[MTG#10]

Originally Posted by Hog's Gone Fishin

Has anybody here ever sold a life insurance policy? I'm wondering how much these places that buy them will offer. My current 500K policy is expiring so I was planning to replace it with a 250K policy, I've sent information to Covington Direct who buys policies and am waiting for their response. But if I can get 50% of the face value then I'd go ahead and get the 500k replacement and have the 250K money now. AND they would have the policy payment to contend with.

Anybody have experience with this?

Wait, what? Are you saying you can cash in a portion of a life insurance policy before you die or is my drunk ass reading this wrong?

[Rain Man]

Originally Posted by MTG#10

Wait, what? Are you saying you can cash in a portion of a life insurance policy before you die or is my drunk ass reading this wrong?

Yeah, but you have to be partially dead.

1% - They punch you in the face.
10% - They beat you up for five minutes with a baseball bat.
50% - They hit you with a slow-moving car.
90% - They put you in an elevator with Aqib Talib and a stripper.

I didn't know you could sell an insurance policy, either. Whole life, I presume? I know almost nothing about those types of policies.

[lewdog]

I don’t know about whole life either. I have term life insurance only.

[rydogg58]

Originally Posted by MTG#10

Wait, what? Are you saying you can cash in a portion of a life insurance policy before you die or is my drunk ass reading this wrong?

I was curious about this as well. Google says you can with whole life insurance. Basically, you have to be old and near death. You can sell it for less than the value it would be worth if you die. Seems pretty sketchy to me.

[Rain Man]

This is actually a serious question, and I've always wondered about it. Can you buy life insurance on another person? Do they have to know about it?

I wonder if google knows anything about this. I may go look.

[Rain Man]

Hmm, apparently you can't buy insurance on another person unless you have both their consent and an expectation of financial loss if they die. So much for my plan to buy policies on people I don't like to cover the costs of a party at my house when they die.

[rydogg58]

Originally Posted by Rain Man

This is actually a serious question, and I've always wondered about it. Can you buy life insurance on another person? Do they have to know about it?

I wonder if google knows anything about this. I may go look.

I've watched a bunch of Forensic Files on netflix. This scenario has been the motive for murder in quite a few episodes. But of course, they were all caught so I'm not sure if the got to enjoy the money. However, the narrator's have never said that this is illegal, so I don't know.

I have life insurance on all of my daughters and I'm fairly certain they don't know or care. So, I'm going to say that you can in some circumstances.

[Rain Man]

Originally Posted by rydogg58

I've watched a bunch of Forensic Files on netflix. This scenario has been the motive for murder in quite a few episodes. But of course, they were all caught so I'm not sure if the got to enjoy the money. However, the narrator's have never said that this is illegal, so I don't know.

I have life insurance on all of my daughters and I'm fairly certain they don't know or care. So, I'm going to say that you can in some circumstances.

Yeah, in reading about it I guess the insurance companies don't want to create situations where you're rooting for another person to die. So it has to be a situation where the insurance offsets a loss (financial or maybe emotional - hard to tell on that last part).

[rydogg58]

Originally Posted by Rain Man

Yeah, in reading about it I guess the insurance companies don't want to create situations where you're rooting for another person to die. So it has to be a situation where the insurance offsets a loss (financial or maybe emotional - hard to tell on that last part).

I asked my wife about this, whether it's just burial insurance or life insurance for the kids. It's only 10k, so I said it's burial and she says it's life. Guess we will have to talk to the insurance company next week to find out.

On a separate note, I'm glad this was brought up tonight. For many years I thought I had a decent payout from my employer in the event of my untimely demise. After reading this thread, I logged in to my work insurance and found that I was wrong this whole time. While I thought I had a payout of 5X my annual salary, I found out it was just 10k.

Guess I missed a few clicks when I set the life insurance up. I am obviously going to correct that as soon as I can, but I can't believe I've gone all these years not knowing this disastrous mistake. Thanks everyone for the heads up.

[Buehler445]

Originally Posted by rydogg58

I've watched a bunch of Forensic Files on netflix. This scenario has been the motive for murder in quite a few episodes. But of course, they were all caught so I'm not sure if the got to enjoy the money. However, the narrator's have never said that this is illegal, so I don't know.

I have life insurance on all of my daughters and I'm fairly certain they don't know or care. So, I'm going to say that you can in some circumstances.

A lot of companies have policies in key personnel.

[scho63]

Insurance is THE most confusing shit of all.

I don't know jack shit.

[Jenson71]

There has to be an "insurable interest" in order for the contract to be valid. That same interest exists for life insurance situations as well as tangible property. I don't have an insurable interest in my neighbor's life nor his car and therefore would not be able to get a policy over either (or, if the company issues it based on my lies, can void the payout later when I try to enforce it).