Aflac

[polarisxcsp]

Does anybody use this? I currently have pretty good insurance through my employeer (MSU) but we had an Aflac rep come in and talk to our Fire Dept yesterday. Doesnt sound like a bad deal but I was looking for a little feedback before I go ahead and sign up for this. Thanks

 

[mjkaliszak]

Well, I have worked at companies that offered it. I even bought the extra coverage at 1 of them.
Here are my thoughts, of course they are due to my life experiences.
TO ME, it seemed like another insurance scam. Fact of the matter is .... most of us working slaves are so busy working that we seldom get hurt or injured. Even if we do... it is for a short term ... because most of us have to get back to work. Most companies short term comp insurance covers 80% ( approx ) of our wages and for most folks... the issue is not the loss of partial income , it is the gap , the inbetween when no payroll check is coming & the short term disability checks arrive.

What happens is .... I ended up paying extra to AFLAC for an expected income shortcoming that never happened. I had my appendix out , and busted up my ribs bailing out on a sled ( IN the last 12 years ). Neither were during my AFLAC coverage and when I had it, I forgot about it and paid them for years... Alot of potential for them to earn.... but IMO most worker bee's like myself seldom use that type of insurance.

Maybe it's me ( I'm Just lucky ) or maybe it's my SUPER POWERFULL Guardian Angle.... but I have cheated death many times...
I would go with the ( 2nd ) since I'm lucky at some things and not others...
I believe that it is money that can be spent on something more useful.

 

[highhertel]

I sold life, health and disability insurance for many years, so here is my 2 cents:

AFLAC or similar type of salary deduction insurance coverage, if combined with a section 125 cafeteria plan can be a good buy because the premium (if paid by the employee) is pretax and the insurance benefit will thus be tax free. The down side is AFLAC coverage is marginal at best, you might be able to find a more solid product privately and possibly with better premiums.

Nobody likes spending $$ on insurance, but based on one's life situation, insurance products should not be overlooked.

HH

 

[anonomoose]

Insurance is...well, insurance.

It protects you from the unexpected. Of course, they are betting you won't need it and keep your premiums, and you are betting you WILL need it and someday it will pay off. (humm....what's wrong with this picture???)

Like all insurance you have to measure the worth....to decide if this is a good cost benefit to you. AFLAC is a "gap" insurance which can be more than just a life saver if you need it someday.

Many folks who were cookin along doing fine in life have fallen into the abyss of financial ruin because they didn't have enough coverage or the wrong kind altogether.

A good insurance man who is not necessarily out to just sell you one thing is worth his wait in gold. He should be able to provide you with some risk assessment for what you do, how far you drive to work, and calculate your needs should the unexpected happen. Then based upon this analysis he should be able to recommend just the right products but not swamp the ship with premiums that you probably don't need.

Like a financial advisor, there are those who simply want to sell you something, and others who you thank every day of the week because he knew what he was talking about. I recommend someone who comes with a recommendation from someone who uses him and who YOU trust.

Then link up with a good insurance man who can give you the advise you are asking about. Then you will be getting the right answers to the right questions and will end up with the right product to keep you afloat if the unthinkable happens to you.

 

[landoman]

Aflac was good to us

My mom had aflac from one of her employers and kept paying it even after she quit there. I believe she had what she refered to as a "cancer rider" on the policy that she paid extra for. When she got cancer, they paid her. Everytime she had radiation or chemo, outpatient or inpatient procedure, they would send her a check. Some months over $3000 if I recall correctly. It was worth it for her in the long run.

 

[alwaysright]

yes you need it, not necessarily aflac but some kind of disability insurance, esp if it's not provided by your employer. If it is provided by your employer see how much of your pay is covered, I have option of 50% or 65% and I pay extra for the 65% and have been considering buying external coverage to supplement that.

Unless your 20 and live with parents or your wife has the type of job where she can pay all the bills (including medical if they come up) without your paycheck then yes you need this type of coverage. Statistically 1 in 4 americans will become disabled before they retire (for some period of time), 23% of those disabilities last more than 5 years. Yes you need the coverage.

 

[snocrazy]

My work offers it. LTD-Long term Disability

Never had to use it personally. Its all about Risk Management. You never know what is going to happen in the future. If you crash your sled and are laid up for Months, you will be happy to get the checks.