Thank God we never needed it. Now we have money for retirement!
Thirty two years later and I am as ornery as the day I married Linda. Linda and I were on the internet looking for information on annuities and came across your site. I read your stories and wanted to tell ours.
I bought a permanent policy 32 years ago because I loved my wife and if I died, I wanted to ensure she and my family could continue having the same level of living. Now if I didn't die, we would have enough money for retirement. HA! HA! HA! I beat the odds and out lived the need for life insurance as my family has all grown up and moved away. I get the cash! I am sure I will die some day, but until then, I do know I have enough money for Linda and I to last a life time.
Ted H. - Baltimore
Showing posts with label Insurance. Show all posts
Showing posts with label Insurance. Show all posts
Thursday, February 19, 2015
Real Life Insurance Stories: 'You're never too young for Life Insurance!' - Kim K., Ohio
You’re never too young for Life Insurance!
Some of your stories brought back so many painful memories, I felt it important to share how one day I insured all my kids and never asked the price.
Back in 1979, Mark, the son of a very close friend of mind was put to rest. Mark was only 14 years old when he was taken from us.
For the first 8 years of Mark's life, he was as healthy and normal as any 8 year old kid. At the age of 9, Mark started having bad stomach cramps and started losing lots of weight. After many months of tests and hospitalizations, Mark was diagnosed as having Crohns disease. It took 4 years, three major surgeries, lots of horrible health food, and a colostomy to finally get Mark's life back on track.
Everything was going great for Mark, that was until a year later at the age of 14, when Mark started having sores and other immune issues. It turns out that he had received the HIV Virus from a blood transfusion during one of his surgeries.
Unfortunately Mark died within the year.
Now you can imagine the funeral cost, doctor bills from the original surgeries and now the HIV costs that followed. Our friends did have medical insurance through work, but let me just say, their life time cap was reached quickly. The unfortunate part is they had plenty of insurance on the parents, but none on the kids.
Kim K., Ohio
Some of your stories brought back so many painful memories, I felt it important to share how one day I insured all my kids and never asked the price.
Back in 1979, Mark, the son of a very close friend of mind was put to rest. Mark was only 14 years old when he was taken from us.
For the first 8 years of Mark's life, he was as healthy and normal as any 8 year old kid. At the age of 9, Mark started having bad stomach cramps and started losing lots of weight. After many months of tests and hospitalizations, Mark was diagnosed as having Crohns disease. It took 4 years, three major surgeries, lots of horrible health food, and a colostomy to finally get Mark's life back on track.
Everything was going great for Mark, that was until a year later at the age of 14, when Mark started having sores and other immune issues. It turns out that he had received the HIV Virus from a blood transfusion during one of his surgeries.
Unfortunately Mark died within the year.
Now you can imagine the funeral cost, doctor bills from the original surgeries and now the HIV costs that followed. Our friends did have medical insurance through work, but let me just say, their life time cap was reached quickly. The unfortunate part is they had plenty of insurance on the parents, but none on the kids.
Kim K., Ohio
Real Life Insurance Stories: 'Divorce is hard enough!' - Vicky in Arizona
Divorce is hard enough!
When I was divorced ten years ago, I never really understood the reason why the judge and my life sales person recommended that I get a life policy on my ex-husband and that I should be the owner.
Now today it is all too clear! First of all, knowing my ex-husband, if I was the beneficiary and he was the owner of the policy, I would get nothing. That is because if he stopped paying the premium, I would never have been notified and my kids and I would have been at risk of getting nothing when the policy expired for nonpayment.
Now, since I am the owner of the policy, I am responsible for the payment of the policy even though he was required by the judge to make the payments. And you know what? About four years ago, he did stop paying the life premium. I was notified of nonpayment and had the chance to immediately make the payments to bring the policy current. Thank God I did. He died three months from that day. My family and I now have all the child support we need and a bright future. I am sharing this story because someone did a good deed for me and I want to pass it on.
Vicky in Arizona
When I was divorced ten years ago, I never really understood the reason why the judge and my life sales person recommended that I get a life policy on my ex-husband and that I should be the owner.
Now today it is all too clear! First of all, knowing my ex-husband, if I was the beneficiary and he was the owner of the policy, I would get nothing. That is because if he stopped paying the premium, I would never have been notified and my kids and I would have been at risk of getting nothing when the policy expired for nonpayment.
Now, since I am the owner of the policy, I am responsible for the payment of the policy even though he was required by the judge to make the payments. And you know what? About four years ago, he did stop paying the life premium. I was notified of nonpayment and had the chance to immediately make the payments to bring the policy current. Thank God I did. He died three months from that day. My family and I now have all the child support we need and a bright future. I am sharing this story because someone did a good deed for me and I want to pass it on.
Vicky in Arizona
Real Life Insurance Stories: 'My husband is dead'
Unemployed and, Interviewing, we had no life insurance in the meantime.
My husband is dead!
Tim was such as wonderful father and friend. He got up so early every morning and commuted so far to give his family a great life. He was so compassionate and would help anyone. We will miss him dearly, but we know he is in heaven looking down on us.
Tim and I sat down two years ago with a life insurance agent and they clearly educated us on life insurance and the different types of policies available. They did a thorough needs analysis and then made some recommendations. There is one eye opener that I remember to this day! Tim was making about $250,000 a year and had two times his salary in Life Insurance provided by his employer. Sounds Great! Wrong! Our life insurance agent explained that his insurance at work should only be considered as icing on the cake and to manage our life insurance policies outside work. The reason was, if he was laid off, his insurance would cease in most cases. Not to mention he would be much older or he could have developed a condition that would make him uninsurable. GET THE POINT!
This was the grace in saving my family today. It turns out Tim was laid off from his company and was driving into Chicago for an interview when he was killed in a fatal multi-car accident. Without the knowledge and insight of the life insurance agent, what we thought was adequate coverage would have left my family and I homeless considering Tim lost his life insurance benefits when he was laid off.
There aren't many nights that go by that I do not thank God for bringing the life insurance agent into our lives. It’s almost two years later and we are still getting over the death, but the three of us have enough money to handle any challenge that comes our way.
Terri O., Chicago
P.S. Much applause to you guys for making these experiences available to others.
My husband is dead!
Tim was such as wonderful father and friend. He got up so early every morning and commuted so far to give his family a great life. He was so compassionate and would help anyone. We will miss him dearly, but we know he is in heaven looking down on us.
Tim and I sat down two years ago with a life insurance agent and they clearly educated us on life insurance and the different types of policies available. They did a thorough needs analysis and then made some recommendations. There is one eye opener that I remember to this day! Tim was making about $250,000 a year and had two times his salary in Life Insurance provided by his employer. Sounds Great! Wrong! Our life insurance agent explained that his insurance at work should only be considered as icing on the cake and to manage our life insurance policies outside work. The reason was, if he was laid off, his insurance would cease in most cases. Not to mention he would be much older or he could have developed a condition that would make him uninsurable. GET THE POINT!
This was the grace in saving my family today. It turns out Tim was laid off from his company and was driving into Chicago for an interview when he was killed in a fatal multi-car accident. Without the knowledge and insight of the life insurance agent, what we thought was adequate coverage would have left my family and I homeless considering Tim lost his life insurance benefits when he was laid off.
There aren't many nights that go by that I do not thank God for bringing the life insurance agent into our lives. It’s almost two years later and we are still getting over the death, but the three of us have enough money to handle any challenge that comes our way.
Terri O., Chicago
P.S. Much applause to you guys for making these experiences available to others.
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