I had life insurance as an employee of the bank. As an independent consultant I'm on my own for this coverage. There is a tiny policy that would cover my elaborate and needlessly lavish funeral. The funeral would need to be special to help you with your unbearable pain. Right?
Anyway - I am in the process of purchasing a policy that will set Jason up should I be gone - not too much though, I don't want to give him any incentive to "off" me should he finally figure out that I'm not as cute or as funny as he thinks I am.
I'm going with a 20 year policy - which means the annual rate is fixed for the next 20 years. It's a reasonable rate, but at year 21 - if I want to continue the policy is jumps in price to almost $9,000 a year. I guess if you knew at 61 that your days were numbered it would be worth it... but yikes!
It feels strange to plan for an event that no one would want to see happen and still seems 100% impossible to me - but these are the grown up things we do.
2 comments:
Life insurance is a great investment if you care about what happens after you don't exist anymore. It's good that you are giving it some thought. I didn't, and my mates and families got nothing.
That's right, your condo's buyer turned out to be a sadist, a serial killer. No wonder his bank was having reservations about the transaction. Not long after the closing, he stuffed a large trout full of d-Con, put it in the trash and "accidentally" left the lid ajar. So I got poisoned to death. Great.
Who is handling your life insurance?
Parker, Smith & Feek has a great life insurance and estate planning specialist - click here for more information
Post a Comment