The Rut Most People Fall In
For years people live their life.They say nothing changes. They say the same old shi.... You get the idea. I don't buy it. I don't sell it like a snake oil salesman here in a little town of Wayitis. When I was in my twenties I remember my uncle explaining to me why we all should have life insurance. Just in case? You just never know? We all think we are going to live forever but that never happens. The truth is one day we are all going to die. So why not be prepared. For a little money, you can have life insurance coverage that will protect your family if something happens to you. Chances are you hopefully will live a long and happy life. What if it doesn't happen? Who pays for your unpaid bills? Later on, you are going to raise a family and probably have children. Don't you want to see that your wife and children are taken care of? Well, this is one way to do it. If you start paying for life insurance now your premiums will be low and then when you get older they stay the same. Once you pay for fifteen years you are done. The insurance policy will keep paying you for the next fifteen years. Your money will make you more money. For a small price, you can have the coverage you need. After listening to him it made me think he could be right. So it wasn't long after I heard a knock at the door. Back then we didn't even have a doorbell. Usually, someone was home. Sure enough, it was a very well dressed young man eager and ready to change my day forever. He is name is Mr. Ueller. After listening to him talk which later I learned is a sales pitch that leads you on to buying Some people say sucks you in. They put a little pressure on you, don't think about it. If you wait rates will change. Now is the time. So little why shouldn't you? After listening and seeing it all on paper in nice neat charts. I would have to be a fool not too. Sign me up. As I signed the dotted line. All I needed was a little money to get the ball rolling. Then as long as I keep paying for the policy I will be covered. It says it all here in the small print. What an opportunity. You will be so glad you did. Well after that day I never saw or heard from him again. But month after month I made my payments faithfully. I had too if I wanted great coverage. I didn't get a big policy but I got one I could afford. So I left there feeling safe. My policy covered me for 75,000. and over time the policy would make more money and you could have over one hundred thousand dollars in one-time death payout. Not for you but for your family later on in life. So the monthly payments came and went. So did the years. About fifteen years later when the policy would start paying for itself. You will always be covered. Now you can sit back and relax. You did the right thing. I get a letter in the mail stating there is a lawsuit pending for all people who have taken out a Variable Life Insurance Policy with a certain reputable company. If you send in your name back and soon you could be entitled to money. You have to act now. You could lose out. Don't miss the deadline. Once again I heard that same line many years earlier. So once again I send in this letter this time with no money. Sometimes after I remember receiving a check for thousands of dollars. It wasn't hundreds of thousands like I was promised. It was a settlement because when the policy came out they falsely made claims that you wouldn't have to pay any more payments ever. The policy would pay for itself. That is if the stock market and other conditions that I was not aware of stayed the same. If the stock market changes and the people that invest your money don't get a greater return then you are not going to get one either. Lesson learned if something seems too good to be true it probably is. A hard lesson to learn but one that has to be understood. Over time I have made the same mistake over and over again. When will I ever learn? We all like to think there is a silver lining in life. I thought the lining was not only silver but solid gold. So from now on if I hear a knock at the door. I am not so eager and I might not just answer. Maybe I won't be rich but then again I won't put my faith in words that are just words.For some people, this may be a story with no meaning. It goes on deaf ears. For others, it may just hit home. Dig in your pockets where your money used to be. As we go on with our day. On the surface, it may look like nothing has really changed. It takes a smart man or woman to look under each layer and dig a little deeper. To see what is really happening? To question is this the truth? No matter what other people believe. Even if it is an uncle you believe and trust. Maybe they don't know any better. They may also be looking for something greater. A pot of gold under the rainbow. Where there might be only more rain.
DREAM ON (author) on November 03, 2020:
Chrish Canosa My parents always suggested be wise with your money because a fool and his money soon parts. Don't buy if you don't need something because someone else has it. Appreciate and take care of what you have and you will enjoy it more and also have it a lot longer. Thank you for all your kind comments. I love and appreciate all your parents' points of view. Have a great day.
DREAM ON (author) on November 03, 2020:
Mr. Happy I had a variable life insurance policy from John Hancock. They misled their customers thinking that after fifteen years you never had to pay and still be covered for 75,000. The money you paid into the policy would pay for the remaining years. After fifteen years they still required the insured keep paying. There was a law court action suit and they settled paying their customers who had policies but ending your policy at the same time. I am still alive and healthy. So lesson learned. I hope that cleared up the confusion. Thank you for reading and sharing. Have a wonderful day.
Mr. Happy from Toronto, Canada on October 31, 2020:
Hold on, what? Haha!!
"I had coverage for fifteen years for 75,000 and in the end, I got a few thousand dollars back" - So, I do not know what type of policy You had but my life policy doesn't give money until I die. I have to be dead for the policy to kick-in. It';s not like pension, which starts at a certain age.
I feel like I maybe did not understand, or misunderstood what You were saying here and my bad if that is the case.
Did the company You were insured go out of business?
Anyway, best of luck and like Mr. Hansen said, sometimes we have to "read between the lines". That's why some people hire lawyers before they sign the dotted line to anything.
Chrish Canosa from Manila Philippines on October 31, 2020:
When it happens to my parents years ago the moment they figured it out,
They said " maybe that person needs it more than we do " period. (But deep inside I know its hurting)
life lesson I need to learn.
DREAM ON (author) on October 30, 2020:
John Hansen I had coverage for fifteen years for 75,000 and in the end, I got a few thousand dollars back. I remained healthy and happy. Some people believe if you invest wisely you can get a better return than a life insurance policy over time. Who knows if we will have the time. Thank you for reading and sharing. In life, we learn so many little things that can add up to big things. Have a beautiful day.
John Hansen from Queensland Australia on October 30, 2020:
It is all in the fine print, Dream On..but even then you have to read between the lines, and nothing is ever set in concrete so as you found.
Unforeseen circumstances can change things beyond our control. Thanks for sharing.