Dying to Know


Hello

Today we are going to Muse about what a bad deal.  If this is your first visit, welcome to Musings. If you have been here before, welcome back. Over time we are going to talk about many things: the past, the present, perhaps the future, travel, art, society and more. Wherever my musing takes me. I hope you will come along with me.

 Colored text is a link.  Clicking on the text will provide additional information about the subject

money

money

Dying to Know

Life Insurance.  Bet you don’t give this much thought.

I bought my first policy when I was 23, a $10,000 Whole Life policy issued by New York Life Insurance Company.  I still have it.

The policy cost $14 a month or $168 a year.  Every year the amount it would pay, if I were to die, increased because of the dividends, or, if the dividends were applied against the premium, the annual cost went down.  I could never live long enough to put in as much as it would pay if I died.  I thought that was a pretty good deal.

Over the years I have used the policy when I was strapped for cash . . . took money out, put it back later.  I still have this policy.

So, why am I am I musing about this today?

Well, in the mail recently came an offer for guaranteed acceptance  (cannot be turned down) Whole Life insurance.  You have probably seen similar offers.  It was available to people ages of 45-80.

In my case it offered $10,000 of modified Whole Life insurance for $95.60 a month, or  $1147.20 annually.  In eight years and 8 months I would have paid $10,000 in premiums.  Furthermore, it offered “modified” Whole Life, which meant that if death occurred by natural causes within two years of the policy being issued, it would not pay the face amount;  it would return any premiums paid plus 10%.

So, for the first two years there is really no coverage, except for accidents.  By the time there is full coverage I would have paid $2300 for  $10,000.  This is really a bad deal.

I am musing about this because you may be asked by a friend about this type of coverage, or you may yourself consider purchasing it. In my opinion, the only persons who should consider this are those in very poor health.  If you are in reasonable health and want life insurance, contact an agent and go through the normal application process.  If acceptable, you will likely find the policy is much more affordable and the coverage is better.

On a Different Topic

In 2015 we took an extended trip to and about Morocco.  If you wish to read about it go to April 2015 in the Archives on the side bar.  There are several musings and photos there. The trip has been cause for some inspiration.

Here are two of my most recent pieces.

Bay of Tangier

Bay of Tangier

click to see

In The Casbah

In The Casbah

click to see

More to come

Fine Art America, a Pixel.com company

Pixel.com is producing reproductions of my artwork.  The work is available as traditional prints on canvas, paper or metal, but it also available on greeting cards, phone covers, tote bags, shower curtains,  t-shirts and more.  It makes for some very personalized gifts.  Below is the link to the site.  When you click on an image in the site,  a menu of products will appear.  I hope you like it.

           CLICK ON:  thomas-tribby.pixels.com

If you like Musings, take a moment and click the subscription button on the side-bar to the right so you will be notified by e-mail when I make a new post.

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Books by Thomas L. Tribby Available
Click on title below to preview

Works on Paper

On The Waterfront

Impressions of Florida

Tribbyart’s Boutique

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New Works at

                                thomas-tribby.pixels.com

Afternoon Mooring

Afternoon Mooring

Harbor Boats

Harbor Boats

Click to see

Intracoastal Mooring

Intracoastal Mooring

Click to See

For information about these or other original works of art, please feel free to contact us: 

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About Thomas L. Tribby

Professional artist: painter, sculptor, print maker. Maintains a studio in West Palm Beach, Florida
This entry was posted in art, art exhibit, life insurance, life insurance sales, life style, tourism, travel and tagged , , , , , , , , . Bookmark the permalink.

One Response to Dying to Know

  1. Mary Shields says:

    Hi Tom,

    Just got your blog letter and as always, enjoyed it. I see that in addition to painting and sculpture you are also a printmaker. Our daughter Kim is also a printmaker and has just started teaching “green” techniques to avoid the toxic exposures. You can google : Kim Spivey, printmaker to see what she’s up to.

    Mary

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