Pre-Need Woes...
While I was enrolling Bea yesterday, I overheard some parents' complaints about scrambling for money because their educational plans failed.
One of the so-called "subterfuge issues" my ex-wife allegedly had with me is my failure to get my children educational plans.
But don't get me wrong. I believe in the concept. But only the traditional plans where these companies allow you to choose the school you want your child enrolled and they pay for the tuition in that school.
The plans that came after (the ones that just give you a set amount of money after a while) appeared to me as raw deals. I could not fathom the concept of sacrificing a huge portion of my present income that I could really use for a sum money that appears to be big now but could become chump change when I'm supposed to get it.
Add to that the stories I heard about the overcharged commission structure, bloated executive salaries, the people that got rich selling these babies and the bad/mismatched investments...
My goodness! Thank God I did not bite!
I remember all the spin the pre-need companies had against treating their business as insurance and hence, handled by the Insurance Commission. Did they hate this because insurance law (and hence, the Insurance Commission) is more strict and the Securities and Exchange Commission is more lax? Just asking.
But think about this. Insurance law mandates that a portion of total potential liability be re-insured. If this was done in pre-need, it could have saved a lot of people this present heartache.
One of the so-called "subterfuge issues" my ex-wife allegedly had with me is my failure to get my children educational plans.
But don't get me wrong. I believe in the concept. But only the traditional plans where these companies allow you to choose the school you want your child enrolled and they pay for the tuition in that school.
The plans that came after (the ones that just give you a set amount of money after a while) appeared to me as raw deals. I could not fathom the concept of sacrificing a huge portion of my present income that I could really use for a sum money that appears to be big now but could become chump change when I'm supposed to get it.
Add to that the stories I heard about the overcharged commission structure, bloated executive salaries, the people that got rich selling these babies and the bad/mismatched investments...
My goodness! Thank God I did not bite!
I remember all the spin the pre-need companies had against treating their business as insurance and hence, handled by the Insurance Commission. Did they hate this because insurance law (and hence, the Insurance Commission) is more strict and the Securities and Exchange Commission is more lax? Just asking.
But think about this. Insurance law mandates that a portion of total potential liability be re-insured. If this was done in pre-need, it could have saved a lot of people this present heartache.
transcription by Punzi @ 12:52 AM
1 Objection(s):
and I thank God I was not lured into getting one for my kids.
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