So I was sitting in my office and two of our insurance men came in at the same time. The first was our health insurance guy, Eric, to talk about claims etc from our employees who have made claims against their health insurance. It is interesting to me that I now am in charge of this aspect of the business. The second man was our life insurance guy, Tom. We have insurance policies against the lives of our stockholders so that in the event of their passing the company will be able to buy back their stock, keeping control internally rather than externally. So we were talking about insurance and the different policies we have and I remembered a conversation I had with my mom a few weeks ago about my life insurance policy. It is one that she has had for me since I was a kid to cover my funeral, etc. I am going to take over the payments and such, but I asked Tom what he suggested for me in terms of a life insurance policy. I felt like an adult ... like there are a few conversations you have in life where you know you are there: Adulthood – The neighborhood for adults. Buying a home, getting married, having kids, and getting quotes on your own term life insurance policy are some of those instances though not entirely inclusive as some people who have done these things are still very much not adults, if you know what I mean.
So what did Tom suggest? He told me to keep the small policy my folks have on me, one can never have too much insurance. Then I should look at investing in a 20 year term life insurance policy for about $100,000. In the event of my death this would pay off my debt, any bills I might leave behind, pay off a car or home I own, and leave some money for my family... what he calls the human element. To those who say you should not profit in death he says, "Shut up!" (that is a homage line from The Drowsy Chaperone, love it!) It got me thinking that if he can get me a good rate, I would go for it. I think it is time that I take care of that aspect in my life. I do not have many possessions so I do not have a will; I am not married with children so I really do not need to take care of them; but I do have loved ones, who will need to take care of my affairs in the event of my death, and I DO NOT want to be a burden on them after I am gone. Morbid post, much?
And for the record: Colleen gets all of my books (scrap and reading); Candice gets all of my movies and my Kennedy election pin (I will convert you from the grave); my Mom gets to keep the Wii and my bed; Barry gets the Mac; Everett gets the PC; Patrick gets the bike; Ainsleigh gets Potty, my pictures, and my Grams’ earrings; Lottie gets the car for Mommy and Daddy, but then they have to give their old one to Katie; Dad can have all of his shirts back! Sad that those are my possessions… And with the rest of the money from my soon-to-be insurance policy? Go back to Hawaii for a week and think of me, think of me fondly! Again morbid post, much?
5 comments:
What do I say to that? I adore you... thanks for the .... lesson.
Sorry I didn't pick up susseical stuff... my bad.
love it!
This has nothing to do with your post, but rather, a response to the memory tag game you left on mine.
First of all, thank you! I didn't remember the details of the second story, so it was extra fun to read and remember it.
My random memory of you was when we were supposed to be studying for our AP Pysch test, and instead wrote a "constitution of friendship". I actually ran across it the other day...
any way, you were so sweet and concerned about us taking care of each other, and making sure we would always be friends. I love that about you.
WTF?! You have a blog, and I have to stumble across it? You better hope you aren't hiding anything from me. I am putting two and two together now...You don't want to go to Batman with me AND I don't know you have a blog. I think I am officially OUT!
Be careful of a whole life insurance policy!!!!! If you have questions, I suggest you talk to Evan!
One would want to talk to Evan about life insurance cuz he can sell you a policy for 10 bucks a month (100,000 policy). Whole life can be a rip off. If you are going to invest 100-200 a month, it's better to pay the 10 for life insurance and invest the rest in something else. Your returns will be much much greater and your loved ones will be taken care of. That's all. :)
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