The totally off-topic thread

[Pushka]

You have your own business right?

I leave (pun?) ~20 days annual leave and ~4-5 days sick leave in the bank at all times.

I'd love to know how much I would have thrown away with income protection. Life insurance. Accidental Death. Etc, etc.

Yep - owning our own business means we get no paid annual leave, sick leave, long service leave etc. Having said that, when we were employees at the ripe old age of 23 MrP suffered a life threatening illness that saw him take four weeks leave and then several days leave for the next 12 months. Nothing in the leave bank! Thankfully he worked for an Insurance company at the time and had taken out all the life Insurance products necessary to cover our newly minted mortgage.

The thing is, if you need to claim against Life Insurance (and others) you know the value of the product. Maybe just be thankful you have never had to claim. "throwing away money on Life Insurance" simply means you have never been ill for long enough to need it.

 

[cove]

I don't think your pet pig would be gruntled Robert Barlow. By the way I now know there are no real miniature pigs. Pigs can truly pig out on food and get bigger as a result. I think pigs love religions that don't support pork and bacon consumption.

 

[JohnK]

The thing is, if you need to claim against Life Insurance (and others) you know the value of the product. Maybe just be thankful you have never had to claim. "throwing away money on Life Insurance" simply means you have never been ill for long enough to need it.

Understand the concept of insurance. As a general rule insurance companies rake in the profits. I believe we over insure.

Note that I work for an insurance company and one of their main focuses is to create new products to sell.

 

[Katie]

If I am not colour blind why are Brisbane Yellow cabs orange?

Have you seen the "Golden" (Red) Gate Bridge??

 

[Cool Cat Phil]

What's the Fuel Price in your neck of the woods today?

I saw Unleaded at 99.3 cents per litre at the United Servo ( northbound) on the Westgate Freeway today.
Coles next door, are a bit slow to respond and are 2 cents more expensive.

Let's hope to see a continued price reduction of fuel.

 

[Pushka]

Understand the concept of insurance. As a general rule insurance companies rake in the profits. I believe we over insure.

Note that I work for an insurance company and one of their main focuses is to create new products to sell.

Yes - and if we didnt then Insurance companies would go broke.

 

[serfty]

You have your own business right?

I leave (pun?) ~20 days annual leave and ~4-5 days sick leave in the bank at all times.

I'd love to know how much I would have thrown away with income protection. Life insurance. Accidental Death. Etc, etc.

Back in the '91 as a contractor/sole trader , I had IPI.

Contracted pneumonia - had two weeks off work (doc recommended 4), even having to give up my tickets to the AFL grand final where my hawks were playing.

My insurance had a 1 week 'excess', so how much did I get ? Zip!! As they based cover on 80% of earn less $20 admin costs per claim. Since I had a very good accountant, "I virtually 'owed' them!".

I have not had IPI since October 91 - (no real issues these days as my super will cover me anyway).

 

[JohnK]

Yes - and if we didnt then Insurance companies would go broke.

There would be less insurance companies. That may not be such a bad thing.

 

[serfty]

There would be less insurance companies. That may not be such a bad thing.

No - the more the merrier, for those who need them, competition is good.

My ambition at 25 was to not need any insurance by the time I was 40 ... I did fail in that, but due to compulsory Superannuation, the insurance I need is minimalized.

 

[coriander]

Have you seen the "Golden" (Red) Gate Bridge??

Actually, the bridge's name has nothing to do with its colour. The narrow entrance to San Francisco Bay is named the "Golden Gate" or "Golden Gate Strait" hence the bridge that spans the strait is named the Golden Gate bridge.

 

[andye]

Why do you need income protection?
.

1 professional income. 4 children. Little cash savings
One prolonged medical illness from financial embarrasment. One head injury/stroke from destitution

PS: I only insure consequences* eg death, loss of income. Other types of insurance such as critical illness and accident insurance are just a punt.

* well, there is car, travel and indemnity also

 

[JohnK]

My ambition at 25 was to not need any insurance by the time I was 40 ... I did fail in that, but due to compulsory Superannuation, the insurance I need is minimalized.

Nice goal.

You can tell I'm not a huge fan of insurance? If one saves a lot of the money one spends on personal insurance this turns into a nice little nest egg. Certainly with retirement one would need to worry about less to insure.

 

[Pushka]

Nice goal.

You can tell I'm not a huge fan of insurance? If one saves a lot of the money one spends on personal insurance this turns into a nice little nest egg. Certainly with retirement one would need to worry about less to insure.

The trick is which occurs first. The nest egg or the Insurable event. Get the order wrong and ...
I trust you take out travel insurance.

 

[coco50]

Have you seen the "Golden" (Red) Gate Bridge??

The "Golden Gate" is the name of the body of water that flows into (out of?) San Francisco Bay. The red bridge is known as the Golden Gate Bridge. The bridge itself is not the Golden Gate.

 

[anat0l]

There's a comic strip (can't remember the name, I think it was the Wizard of Id)...

Guard: "Your Highness! A life insurance salesperson has come to see you!"

[The salesman enters]

King: "What is life insurance?"

Salesman: "It's a bet that you can pay us more money in premiums than you will get in return."

King: "What if I die young?"

Salesman: "You win!"


Life insurance sales from the banks were pushed quite a bit some time ago... seemed to be a phase. I had banks contacting me left, right and centre about life insurance. A branch of Suncorp that I visited were trying to "set the mood" for life insurance by dressing up in funeral attire (all black, the ladies had veils).

 

[JohnK]

The trick is which occurs first. The nest egg or the Insurable event. Get the order wrong and ...
I trust you take out travel insurance.

Travel insurance is a must as you are going to other countries where medical assistance costs obscene amounts of money.

Home insurance is a rort unless you live in a flood zone, bushfire area etc. Just cover the contents if need be.

Understand that people get sick. Save the money you spend on income protection premiums and use it when you get sick.

 

[Cossie]

What's the Fuel Price in your neck of the woods today?

I saw Unleaded at 99.3 cents per litre at the United Servo ( northbound) on the Westgate Freeway today.
Coles next door, are a bit slow to respond and are 2 cents more expensive.

Let's hope to see a continued price reduction of fuel.

The Costco fuel outlet at Majura Park keeps the Woolies prices there low, this afternoon it was 99.7 with 4 cent discount whilst Woolies at Hume had it at 120.7 with the discount.

 

[OATEK]

The Costco fuel outlet at Majura Park keeps the Woolies prices there low, this afternoon it was 99.7 with 4 cent discount whilst Woolies at Hume had it at 120.7 with the discount.

BP Loftus at $0.969 this afternoon, and you get Velocity points.

 

[andye]

99c in Northmead.
Petrol prices have fallen ever since I bought a diesel

 

[mrs.dr.ron]

James Packer and Mariah Carey confirm engagement !!!!!!!!!!!!

We're told that Mariah's new diamond bling comes in at around 35 carats and that no wedding date has been set just yet."