The New And Improved Unofficial R65 Forum V2
General Category => Chit-Chat => Topic started by: Patrick_Krivacka on July 12, 2010, 11:09:03 AM
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I just got my latest Life insurance decline ( cancer survivor ) . Being the primary bread winner of the family, it makes me a little nervous riding without it. (as I was writing this, my wife called to discuss it. looks like my riding days might have just come to an end! Unless I can find some reasonably priced insurance, which I haven't so far. crap.) Anyway, back on point, what do y'all think? do you carry it because you ride? do you think it's reckless to ride without it with a family that depends on you? Don't worry, I'll be making up my own mind about this, I just want to know what y'all think.
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Well, only you can make that decision, based on your family's needs .
Let's face the facts, everyone here knows, that the next time you get on your bike, you may never come home again .
If your family couldn't financially survive without you around, probably a wise decision to give up riding, it's an unnecessary risk .
On the flip side of this coin, the next time you drive to work or back, there's a chance that some driver whacked out their head on alcohol, meth, or another illegal drug, may hit you and kill just as dead !!!
Life's a crap shoot, there's no guarantees anywhere .
There's other hobbies that you can get involved with that don't involve the amount of risk that's present when you're on two wheels .
Tough decision to make, do what you think is right for you !!!!!!!
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actually, we'll discuss it, but I'll do what my wife want's me to do. She's been really cool about my riding, even while I looked for an insurer who would cover me, but I wouldn't enjoy it anymore if I knew it caused her to feel more anxious then it already does. It's something I wrestle with already, as I'm sure most of us do, and this might be the final straw.
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iman,
I wanted to follow in behind Bob - he sure does bring up some mature and responsible points. Tough to give advice for such a personal dilemma.
So I'm going to give you my personal opinions, and first of all I can sympathize deeply with your situation...my wife Tina is also a cancer survivor for over 5 years now. We got together at the time after her chemo and radiation treatments and post treatment follow-up that enabled her to ring the bell (one of many come-to-Jesus meetings). We both feel like insurance is like a trip to Vegas. It's an annual gamble - with our own money. And there's really no compensation to speak of for good health or good driving records; roots and berries in my opinion while the insurance companies always get their money - house odds. She always has concerns when I leave on my annual cross country tour and rather than invest in a huge life/death policy we decided to put together a living will and family trust. There's plenty of conditions for you and your families protection. I have great piece of mind that Tina and my daughters will be well taken care of in the event of my death. Tina accepts my riding, doesn't really like it but accepts it. She knows I would rather die on the road on my bike - than behind my desk at work.
My bike is a integral factor in my physical and mental well-being, and I don't appreciate the financial manipulation the insurance industries pose on our lives. Gosh, the money I've invested in insurance and never received benefit for never filing a claim!
This train of thought may not work for you - but it does for us. We both have life policies...but very small and not a financial burden. Good luck with your decision. Just my 2 cents.
As Bob says "...do what you think is right for you." That's the best advice any of us can give you.
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thanks Mike. I know this is all pretty personal, so I appreciate the replies.
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I do have life insurance but not because I ride. Doesn't it keep me from dying? It's worked so far.
I filled out a profile on realage.com that asks about your lifestyle, diet, exercise, and stuff like that. The biggest thing reducing my expected life span seems to be my 30,000 mile annual commute in my tiny car. The questions didn't have motorcycles as an option so I don't know how much would have changed had they known I ride in the neighborhood of 10,000 miles per year. But my car isn't safe. Being out on the roads at all isn't safe. I did read a study that said that, per mile, your risk of dying on a motorcycle was something like 30 times higher than in a car. Still, that's 30 times a very low number. I wouldn't let it keep me from riding even if I couldn't get insurance. Good luck with your decision, however it goes.
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Crap aint it ...i cannot get anything other than E111 cover by the Nhs for Europe if/when i visit the states i cannot get health cover. I have Life policies started before i was ill and have been advised not to let them lapse.There's no chance of any new ones.That said the bike helps my sanity and i would find it difficult to give it up.Quote...I would rather live one day as a Tiger than a thousand years as a sheep
Lou
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Wouldn't accidental death (as in a vehicle accident) be different than "life insurance"?
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I'm not sure rob. please tell me what you know.
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AD&D insurance -Accidental Death and Dismemberment- is not life insurance but does pay for accidental death or loss of specified body parts. Eck...
I believe the duck from Aflac is selling AD&D.
Check out the AD&D with a trusted insurance agent. Life insurance is a racket but what ya gonna do? Also, there's mortgage insurance that pays off your home if you croak. Several other alternatives exist that will offer some financial support for your family.
I sure as heck would not stop riding just because you're not able to buy a life policy. Me? I prefer to be worth more to my wife alive than dead.
Monte
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I prefer to be worth more to my wife alive than dead.
Monte... precisely why I tend to have a small non-lucrative policy - also removes any temptation of an "accidental death in my sleep". Tina and I decided on policies to cover the incineration and a damn good celebration of life in honor of whoever leaves first. Life is good, enjoy the ride while you can.
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I'm not sure rob. please tell me what you know.
I don't know squat about the law.
But logically, (https://bmwr65.org/smf/proxy.php?request=http%3A%2F%2Fwww.pbase.com%2Ftomfarr%2Fimage%2F126478681.jpg&hash=d0d007d5e3d90d36e3d48494f847c3ae24d11ea5), dying from an accident is totally different than dying from a pre-existing medical condition, IMO.
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AD&D insurance coverage on YOUR VEHICLE has nothing to do with life insurance. Now, you may be limited in what upper limits you can carry on your auto policy in your state, but it is usually quite easy in our state to get at least $100K/$300K coverage, and generally more is possible with additional rider - insurance companies will always take your money.
Granted, this is not a $1M life insurance policy, but, who/how many people actually have one of these (term life) policies? Or, whole life policies - which are at least worth something that you could cash in later if you needed to, rather than continuously throwing money in a hole (insurance company pocket). My wife and I invest in a UVL ( Universal Variable Life) policy, but you do have to pass a physical to start, and that may prove a hurdle. The good side of that is that it is our money, and we can use it todraw as retirement income, or pay for long term care, and, if either of us does die the benefit is almost $1M.
Prior to this, I had about $50K of whole life coverage that I still carry. I bought that policy as soon as I graduated from college to make sure that I'd cover my bills and plant myself with no debts against my family, but I didn't have a young wife, children or a mortgage. It is a personal decision that only you can make for yourself, of course. But as others have said, riding a bike might increase your risks a bit, but don't be fooled into thinking that your risks are tremendously lowered if you don't ride a motorcycle - they are still substantial.
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A very interesting thread and in my case quite timely. As I write this I'm sitting in my older sisters living room 300 miles from home. This is the last place I thought I'd be tonight but she called at 1:00pm today to tell me that her husband of 40 years had just died of a coronary induced by bee stings. The man was never sick and always healthy. I mean he was just mowing the yard! You just never know what's going to happen.
Yes, life is a gamble, but like any smart player we always try to ameliorate the risks and put things in our favor. Would I quit riding just because there is an inherent danger? I haven't so far, but then my situation is my own. At my age and nearing retirement, if I died tomorrow my wife would be well provided.
You have a tough nut i-man, you really do but you'll end up doing the right thing because you care about your family. Can't nobody but you decide what's best for you and your family, but if it does so happen that you get creamed by a car making a left turn in front of you, then tell you wife to get a good attorney and just sue the hell out of the bastard.
Oh, and make sure you have a will and sign up for organ donation. Because of my brother in laws decision to donate as many as 50 people will benefit. Corneas, kidneys, skin and hair grafts for burn victims, it's amazing.
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I'm sorry for your, and your sisters loss.
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Yes I have insurance. Lots! My wife will be taken care of quite well if I get picked off my bicycle or motorcycle.
Then I can sit back and be the wind in her hair...
Things we do for Love!
The letter (http://www.pbs.org/civilwar/war/ballou_letter.html).
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...Then I can sit back and be the wind in her hair...
"wind in her hair" Almost how my bride describes me as the pain in her arse. Ah, love. [smiley=beehive.gif]
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"wind in her hair" Almost how my bride describes me as the pain in her arse. Ah, love.
Yeh, well, that's not how I remember what she said. It was more like "he's the wind in my arse", but don't quote me on that.
[smiley=2vrolijk_08.gif]
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As far as I know if you are clear of cancer for more than 5 or 6 years you should get insurance? I had laryngectomy (voice box removed) for cancer 8 years ago and have no problem now getting travel insurance. But not sure about life insurance, I no longer have any as my wife has passed away and kids grown up and gone. The good side is that the pretty big operation has not affected my bike riding in any way.
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Yes I have insurance. Lots! My wife will be taken care of quite well if I get picked off my bicycle or motorcycle.
Then I can sit back and be the wind in her hair...
Things we do for Love!
The letter (http://www.pbs.org/civilwar/war/ballou_letter.html).
Very moving......try this for dedication
http://www.estatevaults.com/lm/archives/2007/04/29/henry_russells.html
Theres a link to the song on there ......
Lou