life insurance
First a disclaimer. If you sell life insurance, you may want to skip this.
Mr. Life Insurance came by last night, to let us know where we stand in that regard. I don't like that drill and do it very infrequently. I never come out of it satisfied that I have a real idea of what I wanted to know in the first place.
First we go through everything we have in the way of savings, investments and insurance. He plugs them into his computer model and adds the inevitable gloom and doom factor and viola, we need about a million dollars in life insurance. Then he proceeds to try to sell me $100,000 of the stuff. Well, from his calculation, that still leaves me $900,000 short. I'm only getting 10% of the way there, so why bother? Truth is, from where I sit, we aren't bad off at all. His little computer model looks very skewed to me. Playing with numbers for a while, I figured out, no matter what I have or what I earn, this thing is going to come out with me needing more insurance, and lots of it. If I made more, well that means your standard of living got higher, and you need more insurance. If we invested more, well, the stock market could crash tomorrow, so you need more insurance. If I fart, more greenhouse gasses, global warming, you need more insurance. All roads lead to more insurance.
In fact, I have yet to meet the guy who has Mr. Life Insurance come to his house and say, "Ya know what? I looked at all your stuff and you're set. There's nothing you need insurance-wise."
Don't get me wrong, the stuff has it's place, but damn. His model has my wife spending well over twice what we both make when she's 80, I'm dead (hence the insurance, or lack thereof), the mortgage is paid off and the youngster's C.E.O. of Lumberyard Inc. How much Ensure can you possibly gulp down? Maybe I need to factor in Deuce Bigelow.
Mr. Life Insurance came by last night, to let us know where we stand in that regard. I don't like that drill and do it very infrequently. I never come out of it satisfied that I have a real idea of what I wanted to know in the first place.
First we go through everything we have in the way of savings, investments and insurance. He plugs them into his computer model and adds the inevitable gloom and doom factor and viola, we need about a million dollars in life insurance. Then he proceeds to try to sell me $100,000 of the stuff. Well, from his calculation, that still leaves me $900,000 short. I'm only getting 10% of the way there, so why bother? Truth is, from where I sit, we aren't bad off at all. His little computer model looks very skewed to me. Playing with numbers for a while, I figured out, no matter what I have or what I earn, this thing is going to come out with me needing more insurance, and lots of it. If I made more, well that means your standard of living got higher, and you need more insurance. If we invested more, well, the stock market could crash tomorrow, so you need more insurance. If I fart, more greenhouse gasses, global warming, you need more insurance. All roads lead to more insurance.
In fact, I have yet to meet the guy who has Mr. Life Insurance come to his house and say, "Ya know what? I looked at all your stuff and you're set. There's nothing you need insurance-wise."
Don't get me wrong, the stuff has it's place, but damn. His model has my wife spending well over twice what we both make when she's 80, I'm dead (hence the insurance, or lack thereof), the mortgage is paid off and the youngster's C.E.O. of Lumberyard Inc. How much Ensure can you possibly gulp down? Maybe I need to factor in Deuce Bigelow.
John put this out here at 7:32 AM
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