[gumbydood]

Recent posts about the loss of forum riders, and the loss of my sister-in-law's boyfriend last year convinced me to write this.

For those of you with families, do you have adequate life insurance? My (almost) brother-in-law was killed in a freak motorcycle accident in February of 2002. He had no life insurance and no will. The loss has devastated my sister in law, as she has had to pay rent/buy groceries/daycare etc all by herself. The loss not only hit her and her daughter hard emotionally and psychologically, but financially as well.
I purchased a bunch of life insurance for myself and my wife (she rides an R6) shortly after this, realizing how quickly life can be taken. Now I know that if something happens to me, she will be able to afford to keep the house, eat, and (since I bought enough insurance) she'll never have to work again. Just something to think about.

Gumbydood
Ride fast, but ride smart

 

[freakyty]

financial experts say that as a minimum you should have 5 to 6 times your annual salary in life insurance coverage....if you own your home that figure should increase to cover the mortgage pay off.....
research your options: term life, whole life, universal life etc.

you pay now, or your family pays later.

 

[Eyespy]

Hell, I'm worth more dead than alive :crash

 

[yamahog]

Hell, I'm worth more dead than alive :crash

:iamwithst

This is very good advice I think everyone should follow!:fact

 

[Epik]

Hahahaha how's it feel to be worth more dead hMMm... =T

Very good advice though i'm sorrry for your friends wife and daughter and what they have to go through. Loss of a loved one and financial troubles... sheesh

 

[bpa00]

I have a large policy and named myself the beneficiary. If I bite the dust then I will become a very rich man :rock

Seriously though, if I had a wife and/or kids, then I would get the largest policy that I could afford.

- BA

 

[WitoldR6]

There's nothing more sad than these "collections" for fallen riders who didn't bother to get life insurance.

1/2 million policy is _dirt cheap_ if you a healthy nonsmoker. Every rider should have at least that. Chances are that you are getting a deal on your premiums, given average mortality rates for people that live sedetary lives, versus an avid motorcycle rider.

The reason why I don't have a policy is because I have heart disease and it's harder and more complicated for me to get one. But even though I don't have any dependents, I will research it and get one anyway. Who know what can happen, and if I were to die, at least my sister and parents could be living it up. hehehe...