/biz/ - Business & Finance

She's going to poison you.

>>50907986
If you don’t want your wife taking dicks to feed your retarded child when you die, it’s a good idea. Get term life insurance not whole life. It’s cheap at your age.

get a policy on you, your wife and your kid.

She's just as likely to stroke out while taking a shit as you are.

And kids are basically suicide machines until they are around 14.

>>50908100
She has a masters degree. We have just decided to have her stay at home to take care of our kid. If I died, she could just go back to work.

>>50907986
Yeah that's a red flag if you weren't the one suggesting it. You understand that she ceases to be married to you after you're dead, right? Or, in [current year], literally whenever she wants.

Life insurance is the most midwit product ever. Just invest in the stock market and you will make way more money to leave behind for your wife and kids even if you die super early at like 50. There's less than a 2% some healthy male dies before 50. If you plan for the worst 2% situations you will unironically never reach your top 20% financial outcomes. Life insurance absolutely cuts the future finances of all the midwits who buy it. If you have it from 30-50 you are basically giving away a million in potential growth in stock earnings the 98% you don't die early all so you can leave behind maybe a million for the 2% you die (or get murdered) super early. It's total retardation and actually not financially responsible at all.

You do realize a good chunk of people who buy life insurance unironically have insider information about are planning to die/ know they have some disease this making it a good investment and why premiums are so fucked for healthy people? You are a total retard if you are going to buy life insurance as a healthy young person.

>>50908143
There's no doubt if you died early your wife and kid would have it super hard. BUT you're not gonna fucking die before 50. It's a suckers bet and would only more likely become a self fulfilling prophecy if you keep focusing on the possibility

It's worth it if you're broke and no assets. Gotta have something to take care of the senpaitachi after you get shot. Once you have something for them to fall back on (mortgage free house, savings/investments), then it's not worth the cost (and you dont want it to be a lottery ticket for them)

>>50907986
It makes sense, my parents both got one, so that in case one of them die, the other can use the money to pay off the mortgage. They have now paid off their mortgage and nothing happened, however, many people die young. Many people close to me lost family members very early. Just because your younf doesnt mean your invincible.

IUL and overfund it

>>50907986

Status
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You will learn one way or another. The best investment is that in which you see the truth revealed in the manner needed to understand what it is you are trying to unfold.

Determine the truth through your investments. Finance is the key to success. But, first you must understand the economic foundation of the system.

YAGMI Anon.

Stay strong. You will sing the song of the NYSE by the end of this war.

Fin...

OP here. My wife and my mom are now both crying because of this argument. My mom was very offended and sad that my wife was talking about this. What do? I am caught in the middle. I am just trying to get enjoy my newborn daughter.

Get life insurance, it's cheap as fuck at your age and if you love your wife and kid then you'll want them sorted if you die.

>>50908174
This is the most midwit take I've ever seen

>>50907986
>didn’t get it before
>now has to pay double
>can only afford term life

You missed it, anon. Kys

Why do kids need life insurance ? My step-mother-in law shills insurance non stop because she does it for a job , she brags about having policies on both of her kids. Like what you want to cash out if your kids die ? She’s rich and can cover funeral costs, I don’t get it

>>50908492
I wonder the same thing. Life insurance on children disgusts me

>>50908466
Whole life insurance is for suckers

>>50907986
If someone asks you to get life insurance you should watch your back man.
Honestly.

>>50907986
This is bait, based on your followup posts, but for the actual young anons following along, do not listen to shit advice like this faggot
>50908174
>50908200

Life insurance makes sense to get as a young person with dependents that doesn't already have at least a million in equities and cash. Buy it buy 29 at the latest because your rates jump up the second you hit 30. Get a 30ish year term life policy. This means that if you die in the coverage term, your family gets paid out. This is better and cheaper than whole life coverage, because the idea is that by the time your term life expires (assuming you are alive) you'll have had time to build wealth and make your own plans on passing your accounts and property on when you croak. As a sub 30 man with no family history of heart disease and no interest in sky diving you whould be able to get like 800k of coverage for a little over $300/year

>>50908558
>pay corporation thousands a year for 30 years
>survive
basically flushed your money down the drain lmao

>he thinks he can get any life insurance now that the vaxx happened.

>>50908682
I didn’t take the goyvax, sir

>>50908594
An 800k policy that covers 30 years for say, $340 a year, would cost you $10,200 over the full term of the policy. 10k in a 4% divie stock would only generate 400 bucks a year. Its fucking nothing. Only zoomers have this bad of a time with mathematics. The whole point of insurance is to cover your tail-end risk. I'm glad you're so confident in your total control over your fate, and that you believe nothing can ever harm you, but the universe isn't going to ask your permission before:
>some truck driver jumps the median
>you fall off a ladder while cleaning gutters
>you get mauled by a puma while hiking

You're paying to cover the worst case scenario that you hope never comes to pass: that you die early and leave people that depend on you hanging in the wind. The best case is that you never collect on it after paying the whole term.

>>50908911
>An 800k policy that covers 30 years for say, $340 a year, would cost you $10,200 over the full term of the policy. 10k in a 4% divie stock would only generate 400 bucks a year. Its fucking nothing. Only zoomers have this bad of a time with mathematics. The whole point of insurance is to cover your tail-end risk. I'm glad you're so confident in your total control over your fate, and that you believe nothing can ever harm you, but the universe isn't going to ask your permission before:
>>some truck driver jumps the median
>>you fall off a ladder while cleaning gutters
>>you get mauled by a puma while hiking
>You're paying to cover the worst case scenario that you hope never comes to pass: that you die early and leave people that depend on you hanging in the wind. The best case is that you never collect on it after paying the whole term.

>>50907986
Get it. I, had a neighbor growing up. He had a good job, everything taking care of his family and he died unexpectedly. Bam no insurance and his wife and kid had to move to an apartment and be poor after that.

>>50908558
Even with your numbers you are only breaking even if you die 7.5% of the time between ages 30-60. The number is closer to 2%. The problem is there's too many people getting life insurance who know they are about to die + corporations keeping a hefty profit making it a super shitty investment for everyone else. Also it's just a time waste dealing with it all not to mention the fact that people with life insurance are more likely to suicide/ get murdered.

But a far more important point is there's really no need to "insure" your decendents anymore given the USA has a ridiculously large welfare program. Even with the worse case scenario you die at 31 your wife and kid would be fine, they'd just get on the government dole and have all their basic needs met.

Having 60k at age 60 and growing the 98% you don't die seems way better to me, especially for the goal of your children's long-term wealth.

>>50908927
You have to be 18 to post here. That’s not for your sake. Now please go back.

>>50907986
When you have a family, having life insurance is the responsible thing and only an absolute fucking faggot wouldn't. If you don't have it and you end up dying in an accident, your wife would be forced into a situation where she would have no choice but to suck the first cock that came along in order to provide for your child

All insurance is a scam, never give a company your info and records
All taxes are a scam, never report your income
Anything that isn't cash is a scam, never trust banks with your money
I recommend you leave your wife or at the very least buy shib. When you die it'll be worth far more than any jewsurance

>>50907986
My wife and I never had life insurance til her most recent job. She got like job of a lifetime setup, signed up for life insurance and then died in a routine surgery like 2 months later. Felt bad for taking the money, but I mean $300k is $300k

>>50909160
Damn. How old are you?

>>50909013
You really are underaged aren't you? I'm not even going to into why its beyond foolish to think you still live an environment where you can be assured of consistent 10% annual gains.

Even if you could easily compound that 300/year into 60k by the end of a 30 year policy, the entire point of the policy was to COVER THE TIME IN YOUR LIFE BEFORE YOU HAD ACTUAL WEALTH TO PASS ON. Term life is there to give your family a backup plan if you die before you can live long enough to do that. What's an extra 60k going to do for them at that point if you died at 31? An extra year of expenses? Compared to what is gets them if you croak at 30?

And you also don't seem to understand how this industry works as a whole, probably because you have never actually talked to someone who has it (as if you even know your dad). Do you think insurance underwriters don't know when someone buying insurance is doing so thinking they're going to actually use it in a few years? Why do you think the premiums increase so hard with age? Why do you think they require you to get a full physical and work up from a doctor THEY trust before you can sign a policy? Why do you think they explicitly pay out less if you die withing a short time frame of starting the policy? These companies are still alive and profitable because they operate on pure actuarial autism.

Dumping your wife and children onto the tender mercies of the welfare system is an easy way to ensure none of them achieve a higher station in life than you. The loss of primary income means they will likely be forced out of their home, have to change educational plans (especially if mom was homeschooling before), and wion't be able to come into any investments you had growing when you died, since they will have to be liquidated to survive. A policy allows your survivors to lock down housing, bury you, bridge the gap of employment for your spouse, and make up for the loss of your earning power in passing wealth to your grandchildren.

>>50909276
Just turned 40, this happened at 38, have rebuilt my life now, but sometimes life hands you a shit sandwich, just be prepared for the bite

Your insurance premium will on average cost you more than what they will paid put.
It has to fund their cost of employees, marketing, office space, etc.
The pool of funds you hand them is of course invested with enough of it liquid to cover their compensation liabilities. Rest is free leverage for their majority shareholders.
>Buy $1bil shares in insurance company. Get access to 15bil of of collected cucks' bux', which you now invest into your ((buddies)) investment companies. Keep 1 bil liquid.
Also, the incentive to for any reason avoid paying compensation for something you should cover = straight profit. They're experts are this, and you're dumb, and probably at fault here. And if the damages are <$1000, it's not covered. You have to have the premium+ package for that. Also, your premium is higher now because your now in a higher risk category.
Oh, all undiscovered insurance fraud by other costumers reduces what's left for your actual damages, how much is inherently unknown.
Oh yeah, insuring things will make you less careful. It's psychological risk compensation. They premium is has that factored in already. So in a way, you paying to have your shit fucked up.
The money you pay monthly has to cover the shit above. What's left after that is what you will be paid out, on average. Any interaction with insurance is a lose-lose, they're abusing a risk compensation software in you legacy monkey brain.
Bet whatever the monthly premium is on red every month instead. The ROI beats every insurance scheme. Unironically.
>On avarage

>>50909057
>You have to be 18 to post here. That’s not for your sake. Now please go back.

>>50909160
>died in a routine surgery like 2 months later.
Damn, can't you find a good jew lawyer and sue the doctor for another 500k+ medical malpractice?

>>50908380
Sounds like you are dealing with normals and boomers. Just go see what Dave Ramsey says on the topic.

My mom watches a lot of true crime episodes

In 90% of cases of female murdering her husband, the husband had a life insurance policy on himself.

Just be careful about leaving firearms or open drinks around your wife and you should be good

>>50908081
Based, she’s gmi

The real life insurance is extended family and blood relatives. You do live nearby your large and cohesive network of extended family relatives, right anon?

>>50907986
This is the most basic common sense advice that there is while you have dependents, at least until your estate could sustain them if you died. It's a few bucks a month while you're young, do it if your wife doesn't work.
It saved us when my mom died, they both worked and never made huge money. We really needed that 500k while we picked up the pieces. Without that my dad would literally never be able to retire, but now he actually has a decent shot.

I just shorted AIG and Prudential based on the existence of this thread.

On the surface, it's a completely normal request and it makes financial sense if you're the sole earner in your family. She has to have a policy on herself too. You couldn't just stay home all day taking care of a child. Her job has to be done by someone else for money.

However, with modern women, the chance that she will cheat on you and have you murdered is never zero.

>>50909303
dude. 300 on 0 gives you a 1 in 36 to to 35x. Doing that once a year. It's statistically probable you'll win once in 30 years (36, actually but fuck you). You're now one more all on 0 away from turning that $10500 into 370k. Likelihood is about 3%.

Unless you plan on living a ww1 lifestyle the above strategy would have a higher probability for your wife and her boyfriend to enjoy a bunch of cash, no unfortunate husband accident required.

>>50910567
This shit is what I mean about zoom-zooms not understanding basic math

In order to "win" in this scenario you don't need to land an all on 0 twice any two times out of 30, because any loss sets you back to nothing. You need to land a pair of all on 0 bets consecutively. The likelihood of landing two consecutive 1/36 spins is (1/36)^2 = 0.077%. That's 77/10000, which is a far bit worse than 3/100.

>>50907986
Truly an engrained loser, gambler mentality here. Term life insurance is affordable and the most basic and responsible hedge one could acquire.

>>50908174
This. Show her what decent life insurance costs, then ask her about putting the same amount of money into a blue chip mutual fund for a rainy day.

OP here. In my culture (Albanian), a widow is not permitted ton remarry if she had children with her late husband. She is expected to remain loyal to him even after his death. If they had no kids, then she can remarry without criticism. The problem is my wife isn’t Albanian. She’s American, so this sort of thing doesn’t make sense to her. Therefore I cannot in good conscience give her an insurance policy if I know she will likely remarry if I die. There is no way to codify this in an insurance policy, so I’m thinking I will just not sign it. I will just build wealth, and in my will I will leave it all to my first born son.

>>50907986
Try to not slip on banana peel and fall, buy land, build a house. That's the best quality insurance. Insurance in general is a scam for people who don't take big risks and manipulate with highly valuable stuff. So you only need it for your factory and your mansion.