So the other day "my" life insurance policy came in. It's a small policy that I purchased years ago when the kids were small. It's in addition to a policy that I carry through work. My wife commented that she paid "my" policy. I laughed and said , " No it's your policy. " She looked at me with the look that I get when she knows she is right. She repeated again , " Its your policy" .... Nope I replied, " It's your policy and if its used its not like I will be around to spend the money when it's used.. I further told her that we didn't have to pay it, I would never know the difference. The score for me in arguments is 1,000,000 to 1 and it's always in her favor. Yesterday I won one..She mailed it and didn't say another word.
Differences in the way we think
- Thread starter Mojo88
- Start date
Love is a many splendored thing...
After being downsized from 2 previous marriages, I have been a bachelor for a few years.
It doesn’t suck.
I have a dog.
After being downsized from 2 previous marriages, I have been a bachelor for a few years.
It doesn’t suck.
I have a dog.
There are three types of life insurance policies. I have had all three.
When I was a young child, my parents purchased an endowment policy in my name. That policy was designed to be paid until such time as I turned 21 with no further payments being made. When I graduated from college and needed to purchase car, we borrowed against the cash value of that policy to make the down payment on the vehicle. My parents are gone and ownership of the policy is now in my name. The loan against the policy has never been paid off, but the yearly interest on the policy is greater than the interest on the loan. When I die, the loan will be paid off and my heirs will receive any residual.
I have a couple of whole life policies that I took out when I was younger and had a wife and daughter to support. I have kept paying on those policies through the years and the value of those policies are now greater than the original face value of the policies. Yes, I could quit paying on them and allow the principal to pay the monthly premiums. However, as long as I continue payment on the policies, my heirs will not forget to cash them in.
One of my whole life policies includes a term-life rider policy on my wife. If she dies before I do, I will receive the amount listed in the rider, but that amount will never increase. If I die before she does, the main policy will pay out and the rider will become worthless.
I also have a small life policy on my daughter's life, purchased when she was a child. She is now in her 40s with a teenage child of her own. I could name her the owner of the policy, but she might just cash it in, resulting in a tax obligation. Thus, I will just hang onto it. If I die, either my wife or daughter will own the policy.
When I was a young child, my parents purchased an endowment policy in my name. That policy was designed to be paid until such time as I turned 21 with no further payments being made. When I graduated from college and needed to purchase car, we borrowed against the cash value of that policy to make the down payment on the vehicle. My parents are gone and ownership of the policy is now in my name. The loan against the policy has never been paid off, but the yearly interest on the policy is greater than the interest on the loan. When I die, the loan will be paid off and my heirs will receive any residual.
I have a couple of whole life policies that I took out when I was younger and had a wife and daughter to support. I have kept paying on those policies through the years and the value of those policies are now greater than the original face value of the policies. Yes, I could quit paying on them and allow the principal to pay the monthly premiums. However, as long as I continue payment on the policies, my heirs will not forget to cash them in.
One of my whole life policies includes a term-life rider policy on my wife. If she dies before I do, I will receive the amount listed in the rider, but that amount will never increase. If I die before she does, the main policy will pay out and the rider will become worthless.
I also have a small life policy on my daughter's life, purchased when she was a child. She is now in her 40s with a teenage child of her own. I could name her the owner of the policy, but she might just cash it in, resulting in a tax obligation. Thus, I will just hang onto it. If I die, either my wife or daughter will own the policy.
May we get more people to respond to this thread.
I do not understand it .
I do not understand it .
Let me explain it to you, it's about the difference of insurance policies in regard to how different family members buy & sell their polices, in other words insurance polices can be different, such as auto, health, and life insurance, home owners insurance is not included. That's it, time for my meds and my nap.
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Never been married and I'm 59, and never will, but i'll always have a dog.
Put the wife and dog in the trunk of the car, come back an hour later and see which one is glad to see you.
I thought the post was about the insignificant chance that any married guy will ever win a “discussion” with his wife. If a man falls in the forest...
Yes yes you are absolutely right, I didn't read it close enough..
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See, I’m a bachelor...I can occasionally BE right!
I would not be whole without my fact checker. She may disagree with that though. 
I'm looking for a good looking woman that can cook, clean, shop and entertain
but only for 2-3 days a week. They don't seem to understand that concept.
but only for 2-3 days a week. They don't seem to understand that concept.
Well, if you were fool enough to "win" an argument with SWMBO, you now need a life insurance policy.
- Thread starter
- #14
That explains why she was standing behind me on the top of the steep steps telling me to look down..I’ll get her back when I’m gone . I haunt her and switch the tv to the Progressive commercials with Flo that she hates..
When I realized our checking account wasn't a joint account and my wife wouldn't be able to access funds when I die, we went to the bank and changed it. After we signed the last document, I looked at her and said "Okay, now you can kill me."
In most states, a spouse would inherit your assets upon your death, but it can take a while for things to clean. Having things in joint names or even "payable on death" makes transfer much easier.
+1. That's why I did it. She could eventually gain access to the funds, but that takes time, and bills must be paid.
