CA - 13 victims, ages 2 to 29, shackled in home by parents, Perris, 15 Jan 2018 #9

[rsd1200]

No, that wouldn’t make sense since the life insurance policies would likely be on HIS life. And LT would be the beneficiary. Those policies weren’t on his families lives, they would be on his life. In my experience with life insurance.

Maybe he was locked in at a good price plan. He's getting to an age that it's not as easy to pick insurance up, sometimes. Especially if he felt he had a medical condition of some sort.

 

[bears10]

Maybe he was locked in at a good price plan. He's getting to an age that it's not as easy to pick insurance up, sometimes. Especially if he felt he had a medical condition of some sort.

I guess. My husband is in his early 50s and doesn’t pay that much for a private plan he recently acquired. But for me the difference is, they were going thru bankruptcy for what, the second time? So it’s interesting to me that they chose to spend so much money on life insurance when they were knocking on bankruptcies door again. It’s telling. JMO

 

[rsd1200]

I understand how and why the convo started. It just seemed to morph into a lot of off topic personal stories about said canned meats, and besides it being unappetizing, it was just off topic.

The guy said all those cans were there. I apologize for turning into another "ongoing circle drawing" and "mystery hand" discussion. I'll try not to relate, with any more personal experiences, into the thread. That just how I think. I can't help it.

Sincerest of apologies to all who were offended.

 

[bears10]

Have you ever been sold life insurance? They will guilt-trip the heck out of you to get you to buy as much as possible. LOL.

But seriously, I see it as a very sound and responsible decision for him to carry a high amount of life insurance. He's a high-earning, sole breadwinner in the family and he has (at that time) 12 children. If he dies, then LT is going to have to make up his salary in order to maintain their standard of living. (I know, I know, but that's the terminology the life insurance salespeople use.) If DT died, then LT and any minor children would receive Social Security benefits, but it wouldn't completely cover his salary.

Also, it depends on the type of life insurance. If he was sold on whole life, then that costs a lot more than term.

Yes, I’ve said multiple times my husband has life insurance policies. DTs was thru his employer, which in my experience is different than being sold insurance independently. I think LT highly influenced him getting the life insurance policies. Bc she only worries about herself. Imo

 

[Zelda1010]

I don't think they had any financial planning ability at all though.

Well, their financial plan seems pretty straightforward. Rack up debt, declare bankruptcy, repeat. That repeat bit takes some know how, doesn't it?

 

[bears10]

Well, their financial plan seems pretty straightforward. Rack up debt, declare bankruptcy, repeat. That repeat bit takes some know how, doesn't it?

They spent money on what was important to them. Or important to LT. Life insurance on DTs life, trips to Disney, vow renewals in Vegas, vanity license plates... and once they rack up enough debt, who cares, just file bankruptcy again.

 

[rsd1200]

Have you ever been sold life insurance? They will guilt-trip the heck out of you to get you to buy as much as possible. LOL.

But seriously, I see it as a very sound and responsible decision for him to carry a high amount of life insurance. He's a high-earning, sole breadwinner in the family and he has (at that time) 12 children. If he dies, then LT is going to have to make up his salary in order to maintain their standard of living. (I know, I know, but that's the terminology the life insurance salespeople use.) If DT died, then LT and any minor children would receive Social Security benefits, but it wouldn't completely cover his salary.

Also, it depends on the type of life insurance. If he was sold on whole life, then that costs a lot more than term.

Which is likely why he kept it through his employer. If one drops life insurance on a company plan, it may require a health check, to get that amount of insurance, through an outside source. I'm not sure how the age breakdown, and requirements, for non-work related life insurance goes, but at this point, I don't think the Ts have to worry about that.

 

[rsd1200]

Well, their financial plan seems pretty straightforward. Rack up debt, declare bankruptcy, repeat. That repeat bit takes some know how, doesn't it?

I would not know.

 

[Doghairrules]

The guy said all those cans were there. I apologize for turning into another "ongoing circle drawing" and "mystery hand" discussion. I'll try not to relate, with any more personal experiences, into the thread. That just how I think. I can't help it.

Sincerest of apologies to all who were offended.

I’m not offended and hope you keep doing it. Our real life experiences help us figure stuff out. IMO

 

[Bill Carson]

Here is something that had not occurred to me until we started discussing the life insurance. DT will be 73 and LT will be 65 when "Thing #13" turns 18. And if they had had the 14th child.....

I'm convinced they had to use some sort of reproductive treatments for #13's conception.

 

[Zelda1010]

I would not know.

Me either. Maybe it just takes an unscrupulous person or just dumb luck.

 

[rsd1200]

I’m not offended and hope you keep doing it. Our real life experiences help us figure stuff out. IMO

Thanks Doghair. This case has takes a strong stomach, so I wasn't thinking. Some of my marbles escaped a few years back ... lol It's just a joke around here, I didn't figure anyone would take it seriously.

 

[rsd1200]

Here is something that had not occurred to me until we started discussing the life insurance. DT will be 73 and LT will be 65 when "Thing #13" turns 18. And if they had had the 14th child.....

I'm convinced they had to use some sort of reproductive treatments for #13's conception.

Maybe, but, that's not unheard of, I'm leaning toward an Ooops. Family/friends experience.

 

[Bill Carson]

Maybe, but, that's not unheard of, I'm leaning toward an Ooops. Family/friends experience.

Maybe it was an oops, but it was a risky one. The older the mother is, the higher the chance of Down Syndrome.

 

[TeaTime]

Life insurance was a smart thing for DT to buy. He had many, many people dependent on him for everything. If he died in a car wreck on the way to work, they would be homeless and destitute but if he filed bankruptcy, they would just move into a rental, debt free and a new start.

He is not a dumb man.

Vienna sausages. Easy to feed to little children. And, yes. The little ones love them.

 

[human]

No, that wouldn’t make sense since the life insurance policies would likely be on HIS life. And LT would be the beneficiary. Those policies weren’t on his families lives, they would be on his life. In my experience with life insurance.

I was able to insure my children with my work insurance, Is that unusual?

 

[rsd1200]

Maybe it was an oops, but it was a risky one. The older the mother is, the higher the chance of Down Syndrome.

Oh, I agree, very. Unless they used sperm and egg donors though, wouldn't it still be risky? I do know several late in life ooops folks who have no problems though (my father for one). I wonder, might that be why they wanted to do the dna testing?

 

[rsd1200]

I was able to insure my children with my work insurance, Is that unusual?

I was too. Not like I could us though. I could take out any amount I wished on myself, up to xx.xx$ on the spouse, and fixed amount on the kids.

 

[human]

Me either. Maybe it just takes an unscrupulous person or just dumb luck.

It is a strategy used by lots of rich people. Bankruptcy. Get what you can out of a business. Charge lots for materials that you own or kickback, charge a lot for managing, go bankrupt. I see it in hotel and resort schemes,Often governments give tax breaks and maybe even subsidize employees.

Some people think nothing of it. Let others pick up the tab

 

[Zelda1010]

It is a strategy used by lots of rich people. Bankruptcy. Get what you can out of a business. Charge lots for materials that you own or kickback, charge a lot for managing, go bankrupt. I see it in hotel and resort schemes,Often governments give tax breaks and maybe even subsidize employees.

Some people think nothing of it. Let others pick up the tab

I see that. In your humble opinion is this sort of thing joe schmo from kokomo could scheme up and succeed at, or would some financial finesse be required? Or is anyone with no scruples and $125+k a year able to pull this shenanigan over and over again for their person instead of a business scheme?