Archive for June 3rd, 2008
Just as a practical matter the underwriting of private aviation may have to be reviewed. One of the guidelines that most companies have historically used is annual hours flown. Typically a company wants to see annual hours at or above 26.
With the price of all fuel escalating at a ballistic pace, many pilots who have historically flown in the 30-50 hour range annually have been cutting back some. Kind of a choice between putting gas in the car or fuel in the plane. While there may be those underwriters that think that anyone who can afford to fly can certainly afford the fuel, a fair question to them is whether or not they would cut back on driving their car when the price of gas goes over $5 a gallon?
It’s worth noting that treatment of private pilots by most life insurance companies leaves much to be desired, but that with the guidance of an independent agent preferred and preferred plus rates are available in many instances. While not all companies are adamant about the annual hour threshold, most are. Might be time for them to consider, for instance, just how significant the mortality experience change is if the annual hours requirement is cut by a third. I don’t know the answer, but I know that they do.
Bottom line. For many pilots fuel costs have not changed habits much, but for some it’s made flying an economic decision. What I would hate to see is that economic decision spread to whether or not they choose life insurance that covers aviation or not.
June 3rd, 2008
I would probably be well advised to tread carefully when it comes to mixing my business with politics, but being my own adviser, I tend to tell it the way I see it and let the chips fall wherever.
Allow me to share a few things that have struck me as important when it comes to this year’s presidential race. First and foremost is the link between the political choices to be made and the average American family’s ability to purchase life insurance. For years now Republican administrations have waged war on the economic stability of this country by cutting taxes and pretending it doesn’t matter because they have some magic credit card with no spending limit. We now all know that the credit card was issued by China and this country is in dire need of a Dave Ramsey approach to credit cards.
By driving this country to the brink of a financial meltdown through war and mismanagement, the middle class American family is now having to make a choice between gas and life insurance. That’s a real comfortable feeling. “Well, he didn’t have any life insurance but he did leave me a full tank of gas”?? George Bush, in my opinion, decided it was more important to take on the world (not Al Quaeda) than it was to take care of the country that he was put in charge of.
Again, in my opinion, this isn’t about not having four more years of irresponsible leadership. I don’t believe any Republican should be allowed to run for president again until they have acknowledged and pledged that they will stay away from the credit cards.
One other note. Kind of personal thing about the Democratic race. Much has been made about delegates versus the popular vote. I just want Mrs Clinton to know that, being from Colorado, I am personally offended by her refusal to acknowledge that anyone turned out for the caucuses in our state and the others who chose their delegates in the same manner. I know in Colorado that the turnout for caucuses was crushingly huge. Everything I’ve been told would indicate that the other caucus states were similar. So Mrs Clinton, while you rail on about the disenfranchisement of Florida and Michigan, please kindly re-enfranchise all of the caucus states.
Bottom line. This election, more than any I can remember in the 30+ years I’ve been voting, is about the future of America, and not whether it is good or bad, but possibly whether it will be owned by another country or not.
June 3rd, 2008
When you blow past that 50 mark in your life it seems that the aches and pains are more frequent and often show up without any good reason. I remember when I was younger playing 36 holes of golf (carrying my bag) and while I was tired, sore was not a problem. Now at 55, well, let’s just say that Ibuprofen is my friend.
This stiffness along with the aches and pains are a normal part of aging as we lose some of the flexibility and youthful resilience to bounce back from everyday things like golf or working in the garden. For many with arthritis, whether osteoarthritis
or rheumatoid, it isn’t a matter of bouncing back from activities, but rather the ability to do the activity being compromised.
Life insurance underwriting of arthritis is a rather complicated issue but I will try to break it down into some basic guidelines that underwriters look for. First, there is a profound difference in underwriting between the two primary types of arthritis. One reason is a very real and substantial difference in the severity of the disease and complications. Not to make light of osteoarthritis. It is painful and debilitating. A measure of its’ ability to impact your life would pale in comparison to the impact of rheumatoid arthritis.
From an underwriting standpoint the starkest difference often lies not directly with the disease, but with the treatment. While osteoarthritis can often be controlled with over the counter or prescribed anti inflammatory medications, the battle with rheumatoid arthritis is often fought with steroids and medications that can be nearly as tough on a person as some chemotherapy treatments for cancer. In fact the term “remission” is a common term used for both cancer and rheumatoid arthritis when they are being held at bay.
While the medications
can be effective in treating the disease, the side affects can be significant. It is often the known risk of the treatment that drives life insurance underwriting as much as the disease.
With osteoarthritis a person can expect that life insurance rates will generally be available at standard or better rates. Preferred rates are not out of the question depending on the degree of disability in each case. With rheumatoid arthritis a standard rate would be a best case outcome. It is not unusual to see, depending on the treatment, for policies to be rated and some even declined.
Bottom line. Helping you find the best rates on life insurance if you have arthritis is a job for a knowledgeable independent agent. Don’t expect positive outcomes from your friendly car insurance agent down the street. It takes the right agent with access to the right companies to get the job done with a satisfactory outcome.
June 3rd, 2008
