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I guess this question is mainly for folk that are married or have kids. How many of you ride the road without life insurance? I don't have life insurance yet, so I am staying off the road and on the paved trails for now.
How many ride the road without life insurance?
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If someone I loved was dependent on me, I would get life insurance - whether I rode or not. The decission to stay on paved trails instead of the road seems trivial, I don't think I'm signifficantly more likely to get killed on the road than on a trail. If you're into micromanaging risk, stay out of your car.
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The question was how many ride without life insurance. I DO have life insurance, and felt compelled to respond anyway.
As road biking has really caught on well here in Birmingham, AL metro, there has been an unsettling high number of hits and serious injuries/deaths for the last 4 years. I won't even go near some roads, and the group rides have begun to really weed out some of the roads we used to frequent. Most of us are forced to ride 15-20 miles from our homes. I am fortunate that I live at the base of Oak Mtn State park, which has designated bike lanes, highly monitored low speed limits, and regular park ranger speed traps. It feels safe, and has a reputation for safety.
I would not think of riding the road with life insurance.
As road biking has really caught on well here in Birmingham, AL metro, there has been an unsettling high number of hits and serious injuries/deaths for the last 4 years. I won't even go near some roads, and the group rides have begun to really weed out some of the roads we used to frequent. Most of us are forced to ride 15-20 miles from our homes. I am fortunate that I live at the base of Oak Mtn State park, which has designated bike lanes, highly monitored low speed limits, and regular park ranger speed traps. It feels safe, and has a reputation for safety.
I would not think of riding the road with life insurance.
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if youre thinking about...
...you are concerned about it. i have it now and it helps bot hwith peace of mind and my arguments with the wife. in fact this exchange happened two weeks ago:
"be careful. i don't want you to get hit by a car and leave me alone to raise our son."
"bah, we have life insurance. you'll be rollin in it and find a new, better, rich husband. besides, your parents are up here invading us every other weekend anyway.
see ya in a few hours, babe."
...you are concerned about it. i have it now and it helps bot hwith peace of mind and my arguments with the wife. in fact this exchange happened two weeks ago:
"be careful. i don't want you to get hit by a car and leave me alone to raise our son."
"bah, we have life insurance. you'll be rollin in it and find a new, better, rich husband. besides, your parents are up here invading us every other weekend anyway.
see ya in a few hours, babe."
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brock said:
I am not into micromanaging risk or anything. I am currently shopping around for life insurance and decided to stay off of the road and on the paved trails until I have a policy. I think that riding the road IS significantly more dangerous than a paved trail.
While shopping around and being new to roadbiking, it struck me to ask the question. I know there are some people out there that don't have life insurance for whatever reason. I was just wondering if anybody out there rides without it.
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I actually find it a h*llofa lot safer on the roads than on the M.U.T.s: all the accidents/close calls that I've had w/bozos & their cars have been at either crosswalks, or driveways that intersect the M.U.T.s very seldom out on the open roads (excepting the idiot who intentionally takes his rear-view w/in inches of me).shades9323 said:
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One season of MTB: Partially torn ACL, knocked out all my upper front teethshades9323 said:
Three seasons of Road: Nuttin'
I only have the life insurance I purchase through work. I think 100k. If I didn't have that, I seriously doubt I would have bought supplemental insurance.
none for me....
Now, I don't ride that much (certainly not as much as I'd like), but I really don't see the need for life insurance, whether you ride or not. Sure, there is a chance that something could happen, but that's the case anywhere anytime. Everyone has their unique situations, but for me, commercial life insurance doesn't make financial sense -- I think you'd do a lot better self insuring - just setting aside the money that you pay to the life insurance company in case something does go wrong. Of course, it wouldn't be nearly as much as it would be if you got killed somehow and youre family collected on the policy, but that is unlikey to happen.
It's my opinion that life insurance is a financial product whose time has passed. 50 years ago, people used to die at work with alarming frequency in industrial accidents, or get shipped off to war. Life insurance made a great deal of sense then, because if the primary breadwinner in the family (usually the father) did die, the mother was often ill equipped to enter the working world and provide for the family. Life insurance acted as a buffer that would mean a family would not be put out on the street if the father was killed in an accident at work - something that was a very real possibility for my parent's generation.
Now, things are much different. Deaths from industrial accidents are much lower, because of better safety regulations and the fact that fewer people work in dangerous occupations. Also, many more women are working outside the home, or would be able to find a job if they needed to. Furthermore, you have a much more developed network of child care services that would help a suddenly single parent cope with working and raising kids than what existed in the past.
It is true that if I did die in an accident or for whatever reason, a life insurance policy would be highly convenient for my wife and kids. Like the other poster, I think I have about $100,000 coverage through work automatically - not a huge amount, but it wouldn't hurt. But I think that for what life insurance actually costs (which to me seems like alot!), you would be better off just setting your money aside - that way you still have it even if you don't die!
Of course, people who work in extremely hazardous situations or who draft semis for fun may want to consider a little more carefully....
Now, I don't ride that much (certainly not as much as I'd like), but I really don't see the need for life insurance, whether you ride or not. Sure, there is a chance that something could happen, but that's the case anywhere anytime. Everyone has their unique situations, but for me, commercial life insurance doesn't make financial sense -- I think you'd do a lot better self insuring - just setting aside the money that you pay to the life insurance company in case something does go wrong. Of course, it wouldn't be nearly as much as it would be if you got killed somehow and youre family collected on the policy, but that is unlikey to happen.
It's my opinion that life insurance is a financial product whose time has passed. 50 years ago, people used to die at work with alarming frequency in industrial accidents, or get shipped off to war. Life insurance made a great deal of sense then, because if the primary breadwinner in the family (usually the father) did die, the mother was often ill equipped to enter the working world and provide for the family. Life insurance acted as a buffer that would mean a family would not be put out on the street if the father was killed in an accident at work - something that was a very real possibility for my parent's generation.
Now, things are much different. Deaths from industrial accidents are much lower, because of better safety regulations and the fact that fewer people work in dangerous occupations. Also, many more women are working outside the home, or would be able to find a job if they needed to. Furthermore, you have a much more developed network of child care services that would help a suddenly single parent cope with working and raising kids than what existed in the past.
It is true that if I did die in an accident or for whatever reason, a life insurance policy would be highly convenient for my wife and kids. Like the other poster, I think I have about $100,000 coverage through work automatically - not a huge amount, but it wouldn't hurt. But I think that for what life insurance actually costs (which to me seems like alot!), you would be better off just setting your money aside - that way you still have it even if you don't die!
Of course, people who work in extremely hazardous situations or who draft semis for fun may want to consider a little more carefully....
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I will gladly pay whatever amount I need to to have proper coverage to pay off my mortage. If I died, my wife would have to sell the house and move to a more affordable(single income) home. If something happened to me, I wouldn't want my wife do be burdened financially. The emotional toll would be too much for her already.skulls said:
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Betcha I'm gonna die this year.
Betchoo won't.
Betcha I will.
I'll give ya 200 to 1
I'll take it.
If you take the bets long enough you eventually win and the money goes to somebody else if they know about the policy, can find your bookie and prove that you died and they're the beneficiary.
I have term insurance until my kids are done with college, but not cuz I like the idea. When they graduate, I'm done - road riding or not.
Betchoo won't.
Betcha I will.
I'll give ya 200 to 1
I'll take it.
If you take the bets long enough you eventually win and the money goes to somebody else if they know about the policy, can find your bookie and prove that you died and they're the beneficiary.
I have term insurance until my kids are done with college, but not cuz I like the idea. When they graduate, I'm done - road riding or not.
Far more ways to die than riding a bike
Motor vehicle drive/passenger deaths: 37,276
Pedestrian deaths: 4,641
Cyclist deaths: 719
There were more 52 times more deaths for motor vehicle occupants than cyclists. Do you refuse to get in a motor vehicle without life insurance?
There were 6.5 times more pedestrian deaths than cyclist deaths. Do you refuse to walk down the street without life insurance?
Of course, vehicle deaths are only a fraction of all annual deaths. In 2002, 2,443,387 Americans died from all causes - only about one of every 57 deaths involved a vehicle of some kind.
Given all the possible ways to die, and that the chances to die while riding a bike are not particularly higher than any other mode of transportation, it is irrational to only curtail riding a bike (and not other common everyday activities) due a lack of life insurance.
Statistics for 2004 (from Insurance Instute for Highway Safety web site):shades9323 said:
Motor vehicle drive/passenger deaths: 37,276
Pedestrian deaths: 4,641
Cyclist deaths: 719
There were more 52 times more deaths for motor vehicle occupants than cyclists. Do you refuse to get in a motor vehicle without life insurance?
There were 6.5 times more pedestrian deaths than cyclist deaths. Do you refuse to walk down the street without life insurance?
Of course, vehicle deaths are only a fraction of all annual deaths. In 2002, 2,443,387 Americans died from all causes - only about one of every 57 deaths involved a vehicle of some kind.
Given all the possible ways to die, and that the chances to die while riding a bike are not particularly higher than any other mode of transportation, it is irrational to only curtail riding a bike (and not other common everyday activities) due a lack of life insurance.
I'm married but no kids. Both my wife and I have life insurance. Although one has to wonder, are you more at risk for being disabled or killed while riding. My guess would be that its more likely to have an accident that would make you either temprorarily or permantly disabled then killed. So you may want to consider getting disability insurance, although it can be fairly difficult to qualify.
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Of those deaths, most are either kids or people riding on the wrong side of the street or in some other unconventional way. Few of the 800-or-so cyclist deaths each year are regular adult road cyclists... Some are "roadies," and we've had an awful spat of 3 here in Oregon recently, but I bet fewer than a couple dozen are roadies each year. So life insurance isn't the concern, unless you actually think you can win a lottery this year....Mark McM said:
Of greater concern is health insurance... If there are fewer than a couple dozen roadie deaths a year, I bet a sizeable percentage visit a medical facility each year for a cycling related ailment, whether from a crash or some other issue. I don't know a percentage,. but from past personal experience and that of friends, I bet it's upwards of 20% a year.... or once every 5 years for each of us, on average...
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What a silly question. Sorry. Rephrase to, “how many of you leave your home (or live in it, for that matter) w/ out life insurance? You think riding a bike puts you at more risk than driving a car? I don't have the stats but mile for mile on a bike I bet you are safer. I work at a level 1 trauma center & see very few bike related casualties compared to the volumes of MVCs.
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Keeping score
Score: thinking 0, facts 1. In fact, MUTs are more dangerous than the road. This is borne out by repeated studies. Contact the League of American Bicyclists for more info (bikeleague.org).shades9323 said:
A more relevant question would be how many are riding without disaster insurance? I mean, what if while riding you encounter a tsunami or get hit by de-orbited satellite debris? What if while doing a ride 'round Mt. Ranier, it suddenly erupts, and you get hit by a wall of water from a melted glacier?
Those are the things that are really worrisome.
Those are the things that are really worrisome.
skulls said:
Pennies on the dollar for your loved one to replace the income that would of been lost by your unfortunate and untimely death. There are so many situations that one could disagree with you on. So, I'll leave it to the bike riding financial planners to dispel your theories. Ooops, maybe you don't have a loved one that would not only grieve your loss in addition to picking up the tab to live on.
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