What would happen to your tank if

[vetteguy53081]

Hello;

It would be amazing if that took place and happened. I don’t have kids (well yet I guess) but I have nephews and a niece that love it.

She gets the house, so I've decided the tanks stay with it . . LOL

 

[Sarah24!]

She gets the house, so I've decided the tanks stay with it . . LOL

Hello,

You know lol that’s not a bad idea, hmmmm (devilish Wiley coyote look), who ever I leave my house to gets the salt water tank (s), and they are set to go. Just a few tips on maintenance and there they go into the legacy lol

 

[Ashley Kekua]

Critical employees is a key employee. I explained that is the exception to what I was saying. That even includes that it is “unlike” normal life insurance policy’s because the company receives money.

Thanks for posting that, it backs up my claim 100%

I feel sad California education has failed you and you are so stubborn to it and refuse to admit that companies have been paid by it in the past NOT the employee's family. I'm surprised you don't know about Dead Peasant Life Insurance. I'm speechless. It's so sad you must claim you passed an insurance test to try to override my knowledge but your mind is not open to what I'm to say to you.

Please educate yourself. A company CAN purchase life insurance on an employee. It's NOT limit to Executives. The company (who pays for the premium as a Tax deduction, mind you) is the recipient to the moneys. You can keep claiming to know that family receives but you are WRONG. Google Dead Peasant Life Insurance and educate yourself please. You are doing a disservice to your clients with lack of knowledge. Must I sight past instance and spoon feed you??

 

[Ashley Kekua]

I never even heard of a COLI before, but a quick Google search appears to support Ashley's claim:

https://www.investopedia.com/terms/c/coli.asp

"- COLI

Company-owned life insurance (COLI) is a life-insurance policy that pays a benefit to the company when an insured employee dies.

Breaking Down Company-Owned Life Insurance - COLI

Company-owned life insurance (COLI), or corporate-owned life insurance, is typically taken out on a group of critical employees and pays a benefit when any one of those employees dies. Unlike typical life-insurance policies, COLI policies pay the death benefit to the same entity that pays the premiums."

Thank you for support. I wish I did not have to spoon feed hemmdog. Now watch him accept that yes company can receive benefit of life insurance on employee death as I said from the very start. which is A company can buy life insurance on another person. to block Sarah claim that you can only buy life insurance for yourself, which is simply wrong. Sorry I know you don't like to hear you are wrong.

 

[Ashley Kekua]

The company has seperate insurance for that, it’s called COLI, it only works for key employees, such as an executive. Life insurance goes to the deceased’s spouse or next of kin.

Again here you are wrong. You keep say it's only executive and that the money goes to spouse or next of kin...but NO the company can buy life insurance and it paid to company AND company keeps it!!!!! There are many examples ! Please educate yourself!

 

[Ashley Kekua]

Lol, you don’t think people’s families would be upset about that? When people’s spouses die and they get millions where is that coming from?

They keep some money if it’s a COLI which is rare. It’s if some executive is theoretically so good the company will lose money without them.

LOL It's funny you don't know. You sound inexperience

 

[Dom]

Will it to a local aquarium.

 

[Sarah24!]

Thank you for support. I wish I did not have to spoon feed hemmdog. Now watch him accept that yes company can receive benefit of life insurance on employee death as I said from the very start. which is A company can buy life insurance on another person. to block Sarah claim that you can only buy life insurance for yourself, which is simply wrong. Sorry I know you don't like to hear you are wrong.

Hello,

I’m sorry but the idea behind my post is to make others aware of maybe having a plan b. What your bringing up and arguing about is a moot point. To be honest that program was popular in the 80s and is rarely used. I’m sure you know they used it to help minimize a companies tax burden. They used the money to pay for another person to take the place of the one who died. (Wow what a great policy). Knowing they are saving money to replace me of it was ever done for me is an insult. The companies also did it to find tax loop holes so save the company money. Yes super family friendly if you ask me, and you wonder why I see people die from work related stress. Plus oh this is great these lovely companies bored against the money as a loan. Finally in 1990 Congress had enough and severely restricted this process of corporate insurance. It has rapidly declined because in 2000 they were sued by so many families. If you wanna know the in and outs your proper research would be to look up the pension protection act of 2006.

After researching this, and reading both of the posts your confusing this with normal life insurance. Yes one can buy normal life Insurance on themselves and or a legal minor child. The topics are comparing a train to a truck. They are not related, as you are claiming.

Also please please please enjoy my threads but derailing it on something not even related to said topic is unproductive. I didn’t think @Hemmdog blocked me from anything. Please please just stop and have fun, I want people to enjoy my threads not avoid them because of drama.

The topic I wrote about to me is very important to me, and I really wanted everyone’s advice and input. I’m sorry but at the moment corporate life insurance wouldn’t do me any good (or anyone else). Asking me if they had one on my Brain is honestly I don’t know if it’s an insult, trying to be funny, compliment etc. I have no idea why that would even come up, special with what I was asking. I value your input, I do, but please just don’t demean others. As most know I try to have fun and yes sometimes this happens.I hold myself to being helpful, given correct information, and help anyone that I can, and to help others enjoy themselves. Some posts here have really inspired me, some have eased the panic, and some made me realize that I’m not the only one who’s family lol doesn’t care about something I have a huge passion for. I will always welcome anyone, but it’s okay to agree to disagree, but it this happens please be super kind.

Sincerely
Sarah

 

[Sarah24!]

Will it to a local aquarium.

This is also a great idea and I spoke to my local aquarium about it. When we spoke their answer did make me sad but better than nothing. Their response was we will break it all down and then take what we need to make our reefs better and separate the fish where we see fit. When I asked if they could just keep things the same since it was doing great, they said no. But it’s an option which is good, I was able to find a close friend here at the lfs that said they would be honored to keep it going. Which made me very happy etc, so I can have a plan b and c lol.

 

[Ashley Kekua]

My original response to you. Was because you claim that you cannot buy life insurance for another person. You said specifically one can only buy life insurance for themselves, which is incorrect and I try to educate you, but you don't admit your wrongness. To which I say you are wrong. There are many instance. that a Parent can buy life insurance on their child and be the beneficiary. Also a spouse can buy on their spouse and pay it and be the beneficiary. So you were wrong. I simply try to educate you.

 

[Ashley Kekua]

Hello,

Huh! Lol umm first off one can not buy life insurance for another, the person has to buy their own. I can buy life insurance and leave fsmily as my beneficials, but as per my head no. Now for example some famous dancers have insured their legs or aka Freddy Mercury Insured his teeth etc. I would never do something like that, simply because I have no reason too, plus it would be kinda creepy if they did.

My original response to you. Was because you claim that you cannot buy life insurance for another person. You said specifically one can only buy life insurance for themselves, which is incorrect and I try to educate you, but you don't admit your wrongness. To which I say you are wrong. There are many instance. that a Parent can buy life insurance on their child and be the beneficiary. Also a spouse can buy on their spouse and pay it and be the beneficiary. So you were wrong. I simply try to educate you.

 

[JaimeAdams]

I have taken tanks from people whose spouses have passed away that I have found on craigslist. I have also been contacted as the president of the local marine aquarium society about taking peoples tanks who the original owner of has passed away as well as people asking for advice on how to continue to care for their passed loved ones tanks. I also have some friends who aren't young who have told me to come take their livestock when that time comes.

 

[Sarah24!]

Did


Did they buy life insurance on your head? mm?

First off you asked did they (who is they) and on my head. Life insurance doesn’t cover just my head, it covers me if I pass away. Secondly people can insure like I gave examples certain parts of their body aka like Freddy Mercury. In the state of Idaho per the department of insurance who over sees all insurance programs, I can buy life insurance on my self or a minor child. I can’t buy life insurance for my next door neighbor. As you also know I don’t have a spouse, I’m single so where was I wrong? My parents didn’t buy life insurance for me and the corporate one is even more off topic.
Regardless if they did or did not is a moot point (why) because life insurance doesn’t dictate where my tank goes that would be a living will or will. The only thing a life Insurance policy covers is burial costs mainly, and of its large enough to help the widow(er) or beneficialiary with money since that income isn’t there. So I was correct and if it makes you smile and happy and what not you can say I’m wrong but this has nothing to do with what I asked help on.

 

[Ashley Kekua]

First off you asked did they (who is they) and on my head. Life insurance doesn’t cover just my head, it covers me if I pass away. Secondly people can insure like I gave examples certain parts of their body aka like Freddy Mercury. In the state of Idaho per the department of insurance who over sees all insurance programs, I can buy life insurance on my self or a minor child. I can’t buy life insurance for my next door neighbor. As you also know I don’t have a spouse, I’m single so where was I wrong? My parents didn’t buy life insurance for me and the corporate one is even more off topic.
Regardless if they did or did not is a moot point (why) because life insurance doesn’t dictate where my tank goes that would be a living will or will. The only thing a life Insurance policy covers is burial costs mainly, and of its large enough to help the widow(er) or beneficialiary with money since that income isn’t there. So I was correct and if it makes you smile and happy and what not you can say I’m wrong but this has nothing to do with what I asked help on.

This is a different tune from your original post where you stated " umm first off one can not buy life insurance for another" That is your exact quote, no alteration. Now you admit that a parent can by life insurance for a child. But you still claim you are correct. How can you be correct with both statements when both statements contradict each other much?? hmmm? I don't understand why so hard for you to admit you so wrong? You and Hemmdog should marry!

 

[Hemmdog]

I’m already married

 

[Ashley Kekua]

Sorry Sarah, I tried and failed to make love connection

 

[PaulPerger]

@Ashley Kekua - I just looked at your post history. You have 178 posts and 18 of them are on this thread which you have completely derailed. You have spent more than 10% of your thread count on R2R arguing with @Hemmdog and @Sarah24!

Follow the rules. Stay on topic.

 

[Sarah24!]

Hello,

I would still love to hear from those on how they would handle this situation. I value everyone’s thoughts and maybe together we can all find a great solution of others have the same issue.

 

[PaulPerger]

Forgive the "Re-Post", but... You want a plan in place... NOT ONLY FOR YOUR DEATH! But for any situation which leaves you unable to care for your tank(s).

Last year I was perfectly healthy on a late January Friday, Sick with the FLU on Saturday, Admitted to the Hospital on Sunday and in a coma by Monday evening. It all happened so fast, I, nor anybody thought about my eight freshwater fish tanks.

Long story short, I was in a coma for three weeks and couldn't communicate for another week. By the time I was able to communicate, four of my tanks had crashed. By the time I got home, I had lost well over 100 fish, and six tanks. Within the next month, I lost all but one fish.

I shut down my fishroom, cleaned tanks, admittedly shed a few tears and seriously thought about hanging up the aquarist hobby. My wife, however, encouraged me to pick it back up because I do enjoy it. However, this time as I build, I am making water changes and regular maintenance SUPER easy and ALL CARE instructions will be shared with my wife and someone locally who also has tanks with an agreement to help each other out in such an event. I am in the re-building process now, but I will not add one live creature to my tanks until such an agreement is in place.

I learned the hard way.... If you are reading this, You don't have to.

Join a local club. Get to know other Aquarists in your area. Exchange phone numbers and ensure that you post their phone number in your sump area, or somewhere it can be easily found and inform your friends and family they are to call that person should you not be able to. You may save yourself thousands of dollars!

 

[Sarah24!]

Forgive the "Re-Post", but... You want a plan in place... NOT ONLY FOR YOUR DEATH! But for any situation which leaves you unable to care for your tank(s).

Last year I was perfectly healthy on a late January Friday, Sick with the FLU on Saturday, Admitted to the Hospital on Sunday and in a coma by Monday evening. It all happened so fast, I, nor anybody thought about my eight freshwater fish tanks.

Long story short, I was in a coma for three weeks and couldn't communicate for another week. By the time I was able to communicate, four of my tanks had crashed. By the time I got home, I had lost well over 100 fish, and six tanks. Within the next month, I lost all but one fish.

I shut down my fishroom, cleaned tanks, admittedly shed a few tears and seriously thought about hanging up the aquarist hobby. My wife, however, encouraged me to pick it back up because I do enjoy it. However, this time as I build, I am making water changes and regular maintenance SUPER easy and ALL CARE instructions will be shared with my wife and someone locally who also has tanks with an agreement to help each other out in such an event. I am in the re-building process now, but I will not add one live creature to my tanks until such an agreement is in place.

I learned the hard way.... If you are reading this, You don't have to.

Join a local club. Get to know other Aquarists in your area. Exchange phone numbers and ensure that you post their phone number in your sump area, or somewhere it can be easily found and inform your friends and family they are to call that person should you not be able to. You may save yourself thousands of dollars!

Hello,

First, I’m very very glad your still among us to share this. (Sorry was hectic day), things can happen very quickly and yes tanks and other things are always put on the back burner. Yes it makes sense, but you pointed out things that I didn’t even consider. You are very correct these things happen three times faster than a tank crashing. I am definitely going to implement a lot of your thoughts and ideas. On side note how have you been and how’s the recovery coming?