Results 1 to 9 of 9

Thread: lost wage insurance

  1. #1
    Veteran Member
    Joined
    Jun 2005
    Posts
    316
    Thanks
    0
    Thanked 1 Time in 1 Post

    Default lost wage insurance

    ive heard that there is a kind of insurance that if something were to happen where we couldnt work for awhile (broken leg etc) that they would pay us up to a certain amount of money per day for the time we are out of work. anyone heard anything about this - where to get it? i imagine the amount theyd pay you would be based on your tax returns?

  2. #2
    God/dess shasta's Avatar
    Joined
    Sep 2005
    Posts
    2,175
    Thanks
    778
    Thanked 658 Times in 317 Posts
    My Mood
    Breezy

    Default Re: lost wage insurance

    Disability insurance. It makes a lot of sense to have it. The downside is it is very expensive. I have a great broker, who actually works for wells farge, my bank. She also sells insurance. I do not have disability insurance. I would love to, but it is expensive considering I don't have a family to support yet.

  3. #3
    Veteran Member
    Joined
    Jun 2005
    Posts
    316
    Thanks
    0
    Thanked 1 Time in 1 Post

    Default Re: lost wage insurance

    what do u need to do to proove how much u make, so they know how to reimburse you?do they ACTUALLY give u back what u would have been making (so in some peoples cases a few grand a day?) about howmuch is this insurance?

  4. #4
    God/dess Emily's Avatar
    Joined
    Feb 2003
    Location
    Las Vegas
    Posts
    11,302
    Thanks
    4
    Thanked 143 Times in 72 Posts

    Default Re: lost wage insurance

    I looked into it. It's really not worth it.

    You don't really prove what you make, you buy on the amount you wish to receive if you should have an accident.

    I think I asked for $40,000/year policy and it was going to be about $500/month which is about the same as someone who builds high rise buildings pays. It's BS, imo. It assumes that we are really high risk, and doesn't take in account that we're not doing 40 hours a week. I think the biggest risk is driving to and from work. I just got better car insurance coverage.

    Also, I have an account for a rainy day. it has $20,000 in it, which I've determined is enough for 6-8 months of living expenses. If I truly become disabled and can't dance, then I'll just find another job. Just because I can't dance, it doesn't mean I'm an invalid. But this is also where having other marketable skills comes into play.

    Basically, be prepared for the worst so you don't need this ripoff insurance.

  5. #5
    StrayStripper
    Guest

    Default Re: lost wage insurance

    My mother began having pains in her back. Before she saw a doctor, she bought disability insurance through her work for about $100/month. About 6 months later, she needed surgery and has been unable to work every since. She collects a check for $2000 every month. Pretty sweet deal.

    If you feel something is going to happen to you, get it. If not, have an emergency savings fund that would take care of you for 6 months.

  6. #6
    God/dess GoldCoastGirl's Avatar
    Joined
    Oct 2002
    Location
    ...hehehe... email me to ask me where i am ! (i dare you!)
    Posts
    11,486
    Thanks
    42
    Thanked 127 Times in 51 Posts

    Default Re: lost wage insurance

    For strippers with no dependants, just put the money you would have put into the insurance away into an interest bearing savings account like ING Savings Maximiser at the very least. As per what Emily has done.

    For strippers with dependants and no partner to help with everyday expenses, then it might be worth looking into IMO.


    enter: E3167322D9 for your 10% discount

  7. #7
    Banned Katrine's Avatar
    Joined
    Nov 2003
    Posts
    13,855
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Re: lost wage insurance

    Quote Originally Posted by Emily View Post
    I looked into it. It's really not worth it.

    You don't really prove what you make, you buy on the amount you wish to receive if you should have an accident.

    I think I asked for $40,000/year policy and it was going to be about $500/month which is about the same as someone who builds high rise buildings pays. It's BS, imo. It assumes that we are really high risk, and doesn't take in account that we're not doing 40 hours a week. I think the biggest risk is driving to and from work. I just got better car insurance coverage.

    Also, I have an account for a rainy day. it has $20,000 in it, which I've determined is enough for 6-8 months of living expenses. If I truly become disabled and can't dance, then I'll just find another job. Just because I can't dance, it doesn't mean I'm an invalid. But this is also where having other marketable skills comes into play.

    Basically, be prepared for the worst so you don't need this ripoff insurance.
    Its not ripoff insurance if you have a solid policy and qualify. Itcan actually save your ass from having to start over again in life, financially. But its hard to get a good, cost-effective policy if you can't prove taxable income. That is what the A-rated policies require. Also, they are very strict with your health history and occupation. I can broker with about 41 different insurance companies, and the best one I have won't even cover anyone who works in a nightclub.

    At some point, you need to run a c/b analysis. I have one at the office, its a pretty simple spreadsheet, I can look @ it tomorrow and let you know the important variable.

    I have a ton of journal statistics about how many years of savings the average person goes through in a year of disability, the credit card debt that accrues, etc....

    Even if you have some savings, having a solid income protection policy can keep you from having to liquidate long-term savings and investments.

    Edit: Emily, yeah, I do agree, you would need to protect A LOT of income to pay $500 a month for such a policy. At that price, it would be very tough to justify.
    Last edited by Katrine; 03-09-2007 at 08:15 PM.

    "Have you ever been to American wedding? Where is the vodka, where's marinated herring?" - GB
    "And do the cats give a shit? No, they do not. Why? Because they're cats."-from The Onion

    Quote Originally Posted by Mia M
    If a cupcake was tossed at me... well, I'd only be upset if it missed my mouth

  8. #8
    God/dess Emily's Avatar
    Joined
    Feb 2003
    Location
    Las Vegas
    Posts
    11,302
    Thanks
    4
    Thanked 143 Times in 72 Posts

    Default Re: lost wage insurance

    I guess I should have worded it differently. It's not a ripoff in itself. It's a ripoff at the price they were quoting.

  9. #9
    Banned Katrine's Avatar
    Joined
    Nov 2003
    Posts
    13,855
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Re: lost wage insurance

    I'm actually looking at the options for a real estate team that are my clients. They deduct all of their income versus expenses as well. I need to call 30 insurance companies or so to find out, but I may find something that could work for entertainers as well.

    The cash savings are tantamount for this industry though. I would recommend up to a year of committed expenses in savings for a stripper. How many of us have that? Hell, I know I never did when I danced.....

    "Have you ever been to American wedding? Where is the vodka, where's marinated herring?" - GB
    "And do the cats give a shit? No, they do not. Why? Because they're cats."-from The Onion

    Quote Originally Posted by Mia M
    If a cupcake was tossed at me... well, I'd only be upset if it missed my mouth

Similar Threads

  1. Minimum Wage
    By Zinaida in forum Dollar Den
    Replies: 30
    Last Post: 08-01-2011, 06:57 AM
  2. Replies: 5
    Last Post: 07-03-2011, 03:27 AM
  3. minimum wage really ??!#@[email protected]
    By minniesoporno in forum Other Work
    Replies: 13
    Last Post: 11-11-2010, 08:20 PM
  4. Minimum wage?
    By ambellina in forum Dollar Den
    Replies: 15
    Last Post: 05-14-2006, 02:44 AM
  5. lost lbs.=lost boobies
    By whirlerz in forum Body Business
    Replies: 14
    Last Post: 10-11-2005, 03:12 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •