I received a strange request from my mom over the weekend. She is getting on a bit and she has convinced her self she needs over 50 life insurance policy.
To be honest I wasn't very eager. How can you plan for the death of your mother? I even told her to forget about it and not worry about having a life insurance.
Will money be any compensation if she is no longer with us I feel like I'm betting on my mom's death It is just an absolutely terrible thought. I told her to go on holiday or something, rather than saving from her small pension so I get money after a period of time.
Anyway, rant over. At the end I decided I'll look into it and boy is it complicated. I really didn't have any idea of what whole or term policy means. Don't get me started on the conditions and exceptions.
Now I know why she needed my help, if I can't understand over 50 life insurance plans how is she supposed to do it.
This whole life insurance business is very morbid. I don't know, I have life insurance of course but only because of my big morgate and I don't want to burden anyone with my debt.