full time cruising insurance ??
Life, Health or Boat?
Life: Actually a term GE policy for $250,000 each (cost: $72 a quarter, each)and a whole life policy from CU for $250,000 each (cost: $80 a month, each). Health, a PHCP type for $400 a month (family of 4) with a low deductible. Boat, Allstate at $500 a year for a $65,000 hull value.
Jeff: Doesn''t know anything yet. My CU policy at this point (10 years into it) pays for it''s own, everything else is earning 5% (small, but considering the past few years, out-earned many of my other investments).
Insurance isn''t needed if you don''t value your boat, health or life. Jeff doesn''t, yet. He doesn''t have a boat, he''s young and hasn''t sailed beyond the horizon (if at all). I have kids, if something happens to me, at LEAST at $500,000 will get them through college (Yes jeffy, these 11 and 12 year olds already know they''re college bound and they want to have jobs that help others).
Insurance, my young friend, is playing the odds. If I live, then they get ME, and I pay for all that stuff. If something happens to me, the STILL get through school and then some, my way of giving if I''m not around. Either way, they are taken care of. I''m not some old fart Jeff, I''m 40.
Same with the boat. A nice little hurricane is coming down on us right now. It''s track is currently RIGHT ON US. Do I care? Nope, I''ll just head inland with my crew (family). Screw the boat, it''s just a boat. It''s insured.
How can I shell out this money for insurance? I WENT TO COLLEGE AND DON''T HAVE TO WORK THAT HARD ANYMORE. Jeff, pay your dues and THEN goof off, like me. Otherwise you''ll spend your whole life explaining to people how you live your life the way you want to, while washing dishes and scrubbing grout. I have washed dishes and scrubbed grout (in high school) so I know of what I speak.
But for all his bravado, Jeff is just like us at his age (he won''t admit it, I''m sure) a scared kid trying to figure out what is next. By pretending to be ABOVE it, he thinks he won''t have to stoop to the depths of actually working for a living and building something (and being accepted!!! being able to do it!!!).
Jeff, we''ve all been there. Finish school, you''ll be fine. If your half as smart as you pretend to be, then you''ll find it''s actually a cake-walk and you won''t have to hide from it.
(p.s. i know jeff is from a generation that just likes to type on BBs and get responses, but that''s OK, it''s his way to generate feedback. it''s OUR generation that invented it, he''s just living in that world now. the question is, will he get his kicks from typing and pretending, or will he buy a boat and go SAIL!. Then he''ll know that feeling when the wind pops the main and the boat surges forward.)