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Life Insurance

Old Aug 2nd 2006, 3:19 pm
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Question Life Insurance

I was just wondering if anyone noticed any major differences between life insurance in the UK & the US? We never had life insurance in England, as we didn't own a house etc. As we have now bought a house, we thought it would be good to get some, especially as we have a child.

So I called & got a quote, we had our medical phone calls & then they set up an appointment for a lady to come out & take our blood & urine. Do they do this in England too? Or is it just an American thing?

On a side note, a few minutes after I had my blood taken, I fainted (I've fainted a lot over the years, which doctors have attributed to my Mitral Valve Prolapse), but never from having my blood taken. Needles don't scare me & I've always watched my blood being taken & it's never bothered me. The nurse taking my blood said I had a petit mal seizure, but who knows, either way, it was really embarrassing!
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Old Aug 2nd 2006, 3:25 pm
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Default Re: Life Insurance

Originally Posted by Partystar
I was just wondering if anyone noticed any major differences between life insurance in the UK & the US? We never had life insurance in England, as we didn't own a house etc. As we have now bought a house, we thought it would be good to get some, especially as we have a child.

So I called & got a quote, we had our medical phone calls & then they set up an appointment for a lady to come out & take our blood & urine. Do they do this in England too? Or is it just an American thing?
I've got my own house in England, and I've had life insurance for nearly 7 years, and not once have I been asked to give a blood or urine sample! I have had to give permission for them to access my medical records though.
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Old Aug 2nd 2006, 3:27 pm
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Default Re: Life Insurance

Originally Posted by Partystar
I was just wondering if anyone noticed any major differences between life insurance in the UK & the US? We never had life insurance in England, as we didn't own a house etc. As we have now bought a house, we thought it would be good to get some, especially as we have a child.

So I called & got a quote, we had our medical phone calls & then they set up an appointment for a lady to come out & take our blood & urine. Do they do this in England too? Or is it just an American thing?

On a side note, a few minutes after I had my blood taken, I fainted (I've fainted a lot over the years, which doctors have attributed to my Mitral Valve Prolapse), but never from having my blood taken. Needles don't scare me & I've always watched my blood being taken & it's never bothered me. The nurse taking my blood said I had a petit mal seizure, but who knows, either way, it was really embarrassing!
We've never had anyone come out for a blood and urine sample luv, however, with a petit mal seizure, that's nothing to be sneezed at, maybe you should get to the docs?

By the way, your hub was military right, but is out now?
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Old Aug 2nd 2006, 3:36 pm
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Default Re: Life Insurance

Originally Posted by Partystar
I was just wondering if anyone noticed any major differences between life insurance in the UK & the US? We never had life insurance in England, as we didn't own a house etc. As we have now bought a house, we thought it would be good to get some, especially as we have a child.

So I called & got a quote, we had our medical phone calls & then they set up an appointment for a lady to come out & take our blood & urine. Do they do this in England too? Or is it just an American thing?

On a side note, a few minutes after I had my blood taken, I fainted (I've fainted a lot over the years, which doctors have attributed to my Mitral Valve Prolapse), but never from having my blood taken. Needles don't scare me & I've always watched my blood being taken & it's never bothered me. The nurse taking my blood said I had a petit mal seizure, but who knows, either way, it was really embarrassing!
It depends.

with State Farm, if the death benefit exceeds $100,000 then a urine test will be done (no blood though as far as I am aware)

if under $100,000 in death benefit, and under 50 years old then no medical tests will be done.
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Old Aug 2nd 2006, 3:39 pm
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Default Re: Life Insurance

Originally Posted by BrandonBrit
We've never had anyone come out for a blood and urine sample luv, however, with a petit mal seizure, that's nothing to be sneezed at, maybe you should get to the docs?

By the way, your hub was military right, but is out now?
It was slightly different from the other times when I've fainted, I mean, I knew I was going & I know to tell someone, which I did. After it happened, at first I thought I had stopped it & said I was quite good at preventing them now & then she said are you trying to deny what just happened? I thought she was having me on! Then I realised that Dev was stood there next to me, with a cold towel on me, when before, he was in the living room! I felt like such an idiot, but I don't think it's any worry, I've fainted a lot in the past, I feel okay today, just a bit tired (like everyday!).

Yeah, he was in the Air Force, but got out nearly 2 years ago.
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Old Aug 2nd 2006, 3:40 pm
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Default Re: Life Insurance

Originally Posted by Manc
It depends.

with State Farm, if the death benefit exceeds $100,000 then a urine test will be done (no blood though as far as I am aware)

if under $100,000 in death benefit, and under 50 years old then no medical tests will be done.
This is through USAA.

Ours is for $250,000 - just enough to pay for the house should something happen.
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Old Aug 2nd 2006, 3:42 pm
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Default Re: Life Insurance

Originally Posted by Partystar
This is through USAA.

Ours is for $250,000 - just enough to pay for the house should something happen.
cool, you'll get to pay the house off, neat!
you're gonna put the kids through college on you're own then should the worst happen and hubby not come home tonight?

regards.
Life Insurance Salesman.
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Old Aug 2nd 2006, 3:49 pm
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Default Re: Life Insurance

Originally Posted by Partystar
I was just wondering if anyone noticed any major differences between life insurance in the UK & the US? We never had life insurance in England, as we didn't own a house etc. As we have now bought a house, we thought it would be good to get some, especially as we have a child.

So I called & got a quote, we had our medical phone calls & then they set up an appointment for a lady to come out & take our blood & urine. Do they do this in England too? Or is it just an American thing?

On a side note, a few minutes after I had my blood taken, I fainted (I've fainted a lot over the years, which doctors have attributed to my Mitral Valve Prolapse), but never from having my blood taken. Needles don't scare me & I've always watched my blood being taken & it's never bothered me. The nurse taking my blood said I had a petit mal seizure, but who knows, either way, it was really embarrassing!
Don't know about the blood and urine. However if this is the first time you've had a petit -mal you should maybe go and get checked out by your doctor. Just to be sure.The nurse who took the blood probably documented it, so it will be in their records.
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Old Aug 2nd 2006, 3:50 pm
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Default Re: Life Insurance

Originally Posted by Manc
cool, you'll get to pay the house off, neat!
you're gonna put the kids through college on you're own then should the worst happen and hubby not come home tonight?

regards.
Life Insurance Salesman.


We're going back to England, so I'm not really worried about that! As long as he has somewhere to live, that's the most important thing to us.

If the absolute worst were to happen & we both died, he'd have $500,000. Half to pay off the house & half for whatever else he should need down the line.
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Old Aug 2nd 2006, 4:04 pm
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Default Re: Life Insurance

Originally Posted by Partystar
If the absolute worst were to happen & we both died,
you really need, should that ever arise to have a trust set up by an attorney.
the trust needs to spell out Exactly what you want to happen should the worst happen.

Don't leave it to Grandma and expect she'll take care of your little ones, once that check is in her name, legally, there is nothing stopping her blowing the lot in Vegas.
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Old Aug 2nd 2006, 4:18 pm
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Default Re: Life Insurance

Originally Posted by Manc
you really need, should that ever arise to have a trust set up by an attorney.
the trust needs to spell out Exactly what you want to happen should the worst happen.

Don't leave it to Grandma and expect she'll take care of your little ones, once that check is in her name, legally, there is nothing stopping her blowing the lot in Vegas.
We have wills, but we are going to update them, as a lot of things have changed since we wrote them nearly 2 years ago. Not to worry, we are good planners.

Thanx for the advice!
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Old Aug 2nd 2006, 4:26 pm
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Default Re: Life Insurance

Originally Posted by Partystar
We have wills, but we are going to update them, as a lot of things have changed since we wrote them nearly 2 years ago. Not to worry, we are good planners.

Thanx for the advice!
problems though still.

life insurance and death benefit are not subject to wills or probate or taxes.

You can have a will - that states something like "the life insurance death benefit is only to be used to care and lookafter partystar jr until the age of 18"
however it has no legal standing unless you leave the death benefit to the estate and to go through probate and all that good stuff.
estate taxes would be levied on it therefore.

seriously, a will cannot enforce the beneficiary of a life insurance policy to do anything you want with the money. if the check is made out to them, it is theirs...........

however if the check is made out to "the revocable trust of Mr and Mrs Partystar" then you will still legaly control the money / death benefit and how it is distributed even after death.
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Old Aug 2nd 2006, 4:27 pm
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Default Re: Life Insurance

Originally Posted by Manc
you really need, should that ever arise to have a trust set up by an attorney.
the trust needs to spell out Exactly what you want to happen should the worst happen.

Don't leave it to Grandma and expect she'll take care of your little ones, once that check is in her name, legally, there is nothing stopping her blowing the lot in Vegas.
How much would that cost Manc, to get a will with an attorney - do you have any ideas? I would like to leave all our many debts to the mother-in-law
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Old Aug 2nd 2006, 4:32 pm
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Default Re: Life Insurance

Originally Posted by Sarah
How much would that cost Manc, to get a will with an attorney - do you have any ideas? I would like to leave all our many debts to the mother-in-law
depends how much in the way of assets you're protecting and distributing.
Around a grand I reckon and upwards as it gets more complicated.
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Old Aug 2nd 2006, 4:40 pm
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Default Re: Life Insurance

Originally Posted by Manc
depends how much in the way of assets you're protecting and distributing.
Around a grand I reckon and upwards as it gets more complicated.
A grand!! That puts the kibosh on that then...
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