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Personal Finance (Not Investing) • Advice on $2 million umbrella policy for my 92 year old father-in-law

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... I am urging him to secure $2 million in umbrella insurance before his vacation trip just in case he had a catastrophic car accident that was his fault causing substantial injury or death to others. It’s a relatively small risk as he is quite healthy mentally and physically for his age and will have a friend along (though not driving). However, at 92 years old the risk of “anything can happen” is definitely there. ...
You are right. At that age, anything can happen and he is taking a huge risk.

In my neck of the woods recently, a very "healthy and active" 87-year old man with zero high-risk medical conditions drove at a very high speed straight into a tree in his neighbor's yard in broad daylight. He died on the spot. As of now, the police suspect he had a heart attack.

In another case, my friend's friend, a 79-year old man died at the wheel while driving. His panicked wife who was by his side had to find a way to steer the car to a halt from the passenger seat so they didn't crash into oncoming cars on a two-lane highway or get hit from behind while going at 70 mph.

Yes, these incidents are rare, but at his age -- however healthy the doctor says he is --, who knows what might happen.

Statistics: Posted by peterw — Sun May 05, 2024 9:18 pm — Replies 6 — Views 334



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