Random thoughts at yuletide, or Keeping It Real

This was the year that Kiev (kee-EV) became Kyiv (keev), parts of Ukraine were taken over by Russia, the long reign of a beloved monarch in the UK came to an end, and the president of the US and his minions lackeys loyal appointees continued to insist that the southern border with Mexico is not open even as people continue to pour across it unabated (2.5 million in fiscal year 2022, with 5 million projected for fiscal year 2023, representing a doubling from 7,000 per day to 14,000 per day).

In other words, as Robert Browning once wrote, God's in His heaven; all's right with the world.

In spite of what you have just read, I am not in a "Bah, humbug!" mood this Christmas. Some might accuse me of being in a "Bah, humbug!" mood all year long. I beg to differ.

I am a realist. I call them like I see them, which brings me to the subject of life insurance.

For years on American television there has been a very misleading pitch by a certain life insurance company to the effect that anyone -- 54 years old, 67 years old, even 80 years old -- can get life insurance for the fixed price of $9.95 per month. "You cannot be denied coverage for any health reason and the price is fixed; your rate will never go up," they say. What they don't tell you is that the rate is PER UNIT and the amount of insurance per unit decreases as one gets older. So while your monthly premium stays the same, the amount of coverage becomes less and less. At age 40, one 'unit' may represent (these are my own figures just for example, they are not mentioned in the commercial) $10,000 worth of insurance, at age 60 it may represent $5,000 worth of insurance, and at age 80 it might represent $1,000 worth of insurance. So if you decided to buy five units at age 40 at $9.95 per unit (let's call it $10.00 to keep the math simple), you would be paying $50 per month to have $50,000 of insurance coverage. At age 60 you would be paying $50 per month for $25,000 worth of insurance coverage, and at age 80 you would still be paying $50 per month but receive only $5,000 worth of insurance coverage for your five units. At this company that shall remain nameless the actual cost of one unit ($1,000 of insurance) is closer to $300 at age 80, making it cost-prohibitive for a great portion of the population. The whole scheme as presented seems not only misleading but downright devious, fraudulent, unethical, and several other adjectives.

To summarize, then, while other insurance companies may charge you more and more for your insurance as you get older, the company on whom today's spotlight shines offers you instead less and less insurance for your money.

So while the world constantly seems to be going to hell in a handbasket, let us remember here two days before Christmas that the angels proclaimed peace on earth, good will to men. The earth could use a whole lot more of both.

I hope a certain insurance company is listening.