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(New Zealand Herald)   Don't you hate it when the doctors say you have fatal cancer, so you spend $80,000 completing everything on your bucket list, and then it turns out the doctors got it wrong?   (nzherald.co.nz) divider line 124
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10119 clicks; posted to Main » on 17 Jun 2012 at 9:59 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-06-17 01:07:35 PM
I've never been good with definitions, is this a type I or a type II error?
 
2012-06-17 01:22:23 PM

ZAZ: I think this was a country song within the past few years.


Going 4.7 seconds on a bull named Fu Manchu is one way to go about the whole carpe diem thing, but I get a bigger kick out of Henry Phillip's approach.

Another bucket list.

The song starts around the 2 minute mark, but the first couple minutes are also amusing.
 
2012-06-17 01:28:18 PM
Hell, write an inspirational autobiographical book about seizing the day or some shiat and make a million dollars.
 
2012-06-17 02:04:59 PM
Do they have a website yet?

/the new panhandling
 
2012-06-17 02:13:52 PM

zamboni: FTFA:"If the pain got too bad I was going to kill myself, but the pain never came ... everyone was surprised I was still alive," Frank said.

Might wanna check the terms of that life insurance policy you were depending on to pay for your recent extravagances, Sparky. It probably doesn't cover suicide.

These guys sound like they don't plan ahead very much. It's a wonder they even have a life insurance policy to begin with.


It's a myth that life insurance does not cover suicides. Once it is outside the period of contestibility (usually 2 years from the date of issue), the policy will pay, even in the event of suicide unless it is specifically worded otherwise.
 
2012-06-17 02:21:16 PM

Moopy Mac: While I do think it is a waste of money for single people (or even most dual income couples with no kids) to have any life insurance, it appears that basic education as to the realities of life insurance is lacking.

And why would anyone ever get anything other than term life insurance? Is whole-life insurance just a hedge in case you remarry someone younger?


There are permanent plans which accrue cash value. The owner can take loans against the policy if needed. If the insured is diagnosed with a terminal illness, he can take a loan of up to a certain percentage of the death benefit, and the loan is paid back when the insured dies. The money can be used for medical care, or it can be spent on hookers and blow. The insurance company does not care.

Before the 1988 TAMRA act, many life insurance policies were used as vehicles for estate planning / tax avoidance. IOW, they were used to pass money from one generation to another, tax-free.
 
2012-06-17 02:26:41 PM
Am I the only one who'd never heard the term "bucket list" until now?
 
2012-06-17 02:30:16 PM

atomic-age: It's a myth that life insurance does not cover suicides.


content7.flixster.com
 
2012-06-17 02:35:01 PM
I know two separate incidents where the husband died after cancer and had secretly remortgaged the pay off house to pay the bills, which left the wives, in both cases, screwed.

In one of the cases, the husbands children from his first marriage went to the house and took everything that wasn't hers (tools, car, lawn mower, etc) and he had been pronounced dead only hours earlier. They were married nearly 17 years and she practically raised those kids. Weeks later she was diagnosed with breast cancer. And lost her house to foreclosure. I have no idea what happened to her.
 
2012-06-17 03:09:25 PM
No.
 
2012-06-17 03:21:49 PM
Only $80k? Get over it.
 
2012-06-17 03:26:14 PM
I don't know about the rest of you, but if I was given a few months to live and felt great 6 months later, I would probably try to get some kind of follow up appointment.

Unless that policy was for a million bucks, that was a really irresponsible thing for them to do. Wife is 65 and could easily live another 20 years. Throw in an expensive deterioration in health and maybe leaving something for the grandkids and voila! A million bucks.
 
2012-06-17 04:03:54 PM
Came to comment on the selfish heel of the hubby, but see there is still hope for the world with all the other comments so I'll leave you with Lampingtons Disease:

www.ferdyonfilms.com
 
2012-06-17 04:15:54 PM
Not as much as I'd hate it if the doctors had got it right.
 
2012-06-17 04:21:03 PM
A salesman sought medical aid because he had sore, popping eyes, couldn't see well and had a ringing in his ears. A doctor looked the salesman over and suggested removal of his tonsils. The operation resulted in no improvement, so the salesman consulted another doctor, who suggested the removal of his teeth. His teeth were extracted, but the salesman's eyes still popped and the ringing in his ears continued.

A third doctor told him bluntly, "You've got six months to live."

So the doomed salesman thought he would treat himself right while he still could. The salesman bought himself a flashy car and hired himself a chauffeur. He then went to the best tailor in town to make him a few custom suits. The salesman even decided to order a dozen shirts that would be made-to-order.

"Okay," said the shirtmaker, "let's get your measurements. Hmm, 35 sleeve, 16 collar - "

"Fifteen," the salesman said.

"Sixteen collar," the shirtmaker repeated, measuring again.

"But I've always worn a 15 collar," said the salesman.

"Listen," said the shirtmaker, "I'm warning you. You keep wearing a 15 collar, and your eyes will pop and you'll have a ringing in your ears."
 
2012-06-17 04:39:54 PM

atomic-age: Moopy Mac: While I do think it is a waste of money for single people (or even most dual income couples with no kids) to have any life insurance, it appears that basic education as to the realities of life insurance is lacking.

And why would anyone ever get anything other than term life insurance? Is whole-life insurance just a hedge in case you remarry someone younger?

There are permanent plans which accrue cash value. The owner can take loans against the policy if needed. If the insured is diagnosed with a terminal illness, he can take a loan of up to a certain percentage of the death benefit, and the loan is paid back when the insured dies. The money can be used for medical care, or it can be spent on hookers and blow. The insurance company does not care.

Before the 1988 TAMRA act, many life insurance policies were used as vehicles for estate planning / tax avoidance. IOW, they were used to pass money from one generation to another, tax-free.


I get calls about these types of life insurance policies quite often, they seem like tremendously bad uses of money. Are the only "benefits" that you can take loans out against the potential proceeds?
 
2012-06-17 05:05:12 PM
Eh, he completed his bucket list. That seems like an overall win for him.

Not so much for her, but it seems he was planning on leaving her broke and widowed anyhow.
 
2012-06-17 08:30:32 PM

Moopy Mac: atomic-age: Moopy Mac: While I do think it is a waste of money for single people (or even most dual income couples with no kids) to have any life insurance, it appears that basic education as to the realities of life insurance is lacking.

And why would anyone ever get anything other than term life insurance? Is whole-life insurance just a hedge in case you remarry someone younger?

There are permanent plans which accrue cash value. The owner can take loans against the policy if needed. If the insured is diagnosed with a terminal illness, he can take a loan of up to a certain percentage of the death benefit, and the loan is paid back when the insured dies. The money can be used for medical care, or it can be spent on hookers and blow. The insurance company does not care.

Before the 1988 TAMRA act, many life insurance policies were used as vehicles for estate planning / tax avoidance. IOW, they were used to pass money from one generation to another, tax-free.

I get calls about these types of life insurance policies quite often, they seem like tremendously bad uses of money. Are the only "benefits" that you can take loans out against the potential proceeds?


No, many of the policies accrue interest that the owner can receive as dividend payments, or they can be used to purchase additional life insurance on top of the face value of the original policy. And don't forget that when the insured dies--and s/he will---there is the death benefit. These types of permanent insurance are really expensive and YMMV as to whether it's "worth it". It's not for me, because the only person who I feel deserves one thin dime when I die is my husband. But if you have children / grandchildren that you want to leave set up in life, this is one way of going about it.
 
2012-06-18 03:21:06 AM

zamboni: FTFA:"If the pain got too bad I was going to kill myself, but the pain never came ... everyone was surprised I was still alive," Frank said.

Might wanna check the terms of that life insurance policy you were depending on to pay for your recent extravagances, Sparky. It probably doesn't cover suicide.

These guys sound like they don't plan ahead very much. It's a wonder they even have a life insurance policy to begin with.


In NZ they usually do cover suicide, as long as you've had the policy for a minimum x number of years.
 
2012-06-18 03:32:20 AM

Moopy Mac: wmoonfox: rvabenji: You apparently think collecting on life insurance by dieing and then using that money to pay bills is "gaming"...

When they are bills that you otherwise would not have run up, yes, that's pretty much the operative definition of "gaming the system". Insurance companies work by routinely paying out less than their face value; otherwise, everyone with a $100K policy would actually have to contribute $100K, plus administrative costs, defeating the purpose. These people decided to treat themselves to a lifestyle they could never legitimately afford by relying on a payout that they would not normally qualify for. Ergo, they gamed the insurance company... and they lost. Cry me a farking river.

I'm still confused how this is gaming the system. Life insurance policies (in the US at least) are typically fixed amounts (sometimes subject to the age/cause of death). How does running up bills before dying constitute "gaming" the system? Do NZ life insurance proceeds depend on the amount of debt of the deceased?


Don't count your chickens before they hatch. Except in this case, the chickens were cancer.
 
2012-06-18 04:33:32 AM
It boggles to see people talking about someone "gaming" life insurance companies by trying to use it the way it was meant to be used. All insurance is nothing more than a bet that you'll get more out of it in a pinch than you pay in, while they're betting that you won't; in other words, you're both trying to game each other. That's the way it works, and the sooner you understand that the sooner you'll start making smart insurance decisions.
 
2012-06-18 05:46:12 AM

mab1823: I'd probably ask for a second opinion, but I hardly blame these people for doing what they did...especially if they thought his life insurance would pay for it once he was gone. Beats the hell out of sitting at home and waiting to die.


Even then they can be "wrong". A lot of cancers disappear by themselves - your immune system figures out how to zap them.
 
2012-06-18 11:16:59 AM
Smartest
Funniest
2012-06-17 10:08:01 AM


So you borrowed 80k without any intention of paying it back. And somehow because you thought you were dying, we're supposed to sympathize?

Sorry. That makes you a douchebag.




The fact that you actually think borrowing money you can't pay back should mean anything to someone about to die is funny.
What a dickhead you are.
 
2012-06-18 02:50:59 PM

foxyshadis: It boggles to see people talking about someone "gaming" life insurance companies by trying to use it the way it was meant to be used. All insurance is nothing more than a bet that you'll get more out of it in a pinch than you pay in, while they're betting that you won't; in other words, you're both trying to game each other. That's the way it works, and the sooner you understand that the sooner you'll start making smart insurance decisions.


Not that complicated.
They simply make money on your money and give a little taste back when you qualify.
In large numbers, this is a swell racket.
Why would they care how you use it?

/my best sales prospects used to be beneficiaries
//they believe
 
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