Are you properly insured? - Mountain Buzz
 



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Old 08-27-2007   #1
 
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Boulder, Colorado
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Are you properly insured?

Between me mountain biking, boating,commuting to work on a motorcycle and losing a dear friend with no insurance, my wife and I decided to up my insurance coverage to make sure her and the offspring had something of a net in case I have extreme bad luck.

Today my wife received a document from IRS about what she would receive in benefits if I should die. She seemed to be in an unusually good mood after this and I felt better as well. Although I am now considering hiring a food taster.


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Old 08-27-2007   #2
 
Salida, Colorado
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I did the same thing recently after my son was born and yes it is a weird experience setting it all up but, afterwards I do feel better knowing my wife and son will be taken care of.
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Old 08-27-2007   #3
 
Golden, Colorado
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In addition to life insurance, anyone who does all this fun stuff needs medical insurance. It's not really an option to live without it unless you don't have a family and you don't care too much about who bolts you back together after an accident.

I haven't added it all up but my broken neck last year cost more than a nice house. One of the best neurosurgeons in So. Cal fixed me up. If I didn't have good insurance then god only knows what would have happened. They probably would have sent me to Tijuana or used me in a medical experiment.
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Old 08-27-2007   #4
 
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Disability insurance is another thing to consider. More likely to hurt yourself and not be able to work, then die (I don't remember the exact statistic).
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Old 08-27-2007   #5
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I choose medical over life. I want to live, after that I dont care.
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Old 08-27-2007   #6
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DIllon, Colorado
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So... I have a little one on the way! I have good health ins through the wifes work and some life ins. Thank god for the health ins this summer, I broke my shoulder and had to see the good Dr. What is the "standard" that I should carry now that I have a new boater comming? Any advice would be very helpful. Thanks Happy boating
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Old 08-27-2007   #7
 
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One thing to consider is that medical & life insurance don't always cover 'extreme' sports. Make sure you read the fine print so that if the unthinkable should happen, your plans and money are not wasted.
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Old 08-27-2007   #8
ITS GONNA BE BIG!!!!
 
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Quote:
Originally Posted by Ice Water View Post
One thing to consider is that medical & life insurance don't always cover 'extreme' sports. Make sure you read the fine print so that if the unthinkable should happen, your plans and money are not wasted.
Thats a good point but how do you determin if you were being "extreme" is boating the upper c "extreme" or is riding my sled in the BC "extreme" I guess I had better read the fine print. Thanks
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Old 08-27-2007   #9
 
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Boulder, Colorado
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insurance

Quote:
Originally Posted by shady View Post
So... I have a little one on the way! I have good health ins through the wifes work and some life ins. Thank god for the health ins this summer, I broke my shoulder and had to see the good Dr. What is the "standard" that I should carry now that I have a new boater comming? Any advice would be very helpful. Thanks Happy boating
I don't know but here is a work sheet to help you get started.

How Much Life Insurance Do You Need? (Insurance: Personal Finance) | SmartMoney.com
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Old 08-27-2007   #10
 
Join Date: Aug 2007
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Quote:
Originally Posted by shady View Post
Thats a good point but how do you determin if you were being "extreme" is boating the upper c "extreme" or is riding my sled in the BC "extreme" I guess I had better read the fine print. Thanks
No worries - when I was looking at life insurance one disclaimer said that river canoe trips would null and void the life insurance... Obviously that company was afraid of all water, and real policies do exist. It's the fine print that gets tedious, and oh so important.
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