Tempting Fate

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Image by MasterTux from Pixabay

Many moons ago, I took out a life assurance policy. It was intended to ensure that in the event of my premature demise, funds were paid into the family coffers to offset the loss of my earned income. Notwithstanding my retirement and the fact that both the eldest and youngest are now financially independent of us,  I have maintained the premiums assiduously.

The policy has another 3-4 years to run at which point it matures with no refund of premiums or any other benefit to me. I have been conscious that it can, therefore, be viewed as simply paying money into a dark hole from which only the insurance company is likely to gain.

On the other hand, cancelling it has always felt a little like tempting fate. I'd like to think that I'm not particularly superstitious, except regard for Sod's Law suggests that I am, and which, thinking about it, is perhaps the driving force for any insurance policy. Maybe, considering yesterday's post, I've always been a pessimist by nature but the fear that the worst is going to happen is certainly a pretty convincing catalyst for proposing all kinds of cover.

For many months I've been indecisively mulling over the only two options: keep paying or cancel. Sometimes you can overthink these things. Obviously, I lose out either way if I die but if I keep the policy up, family would benefit in that scenario. The indecision, however, has had nothing at all to do with the monetary returns or losses. It really has come down to angering the gods and primitive superstition which, trust me, are much harder to deal with. 

I must have woken up full of optimisim and a spirit of derring-do in mid December though,  because finally I terminated the payment of the premium and despite that, I am still here! There have been no thunderbolts crashing through the bedroom window whilst I have slept, wild animals have not carried me off to devour later and nor is there any sign of the other hundred or so endings that I may have imagined. A letter is now on its way to the insurer confirming the desire to cancel but should this be the last you hear from me, you know why.

Comments

June said…
You only terminated it in mid Dec and you write this crowing post? You tempt the gods on two counts. Why? Why? I am knocking wood on your behalf.

4 January 2020 at 19:14
Caree Risover said…
Leslie you are clearly someone who understands, thank you for that and for knocking wood (I might be relying on that if my optimism deserts me).
4 January 2020 at 21:41
Treaders said…
I took out quite a large life insurance policy on myself when my kids were younger. I received a grant which helped pay for my kids' tuition in the international school in Geneva. If something happened to me my husband would have had to take them out of that school, so I figured I needed the insurance. Then as my kids finished school and my husband did a runner I thought "why am I still paying out all this money"? So like you I hesitated but in the end the only way I was going to come out "ahead" was if I died, and so figuring that my kids would get my house I cancelled it. And here I still am 10 years later, so no regrets!!
6 January 2020 at 14:20
Caree Risover said…
Yes, the need for life assurance changes with our circumstances and gambling on your own life seems bizarre even for a total pessimist.
6 January 2020 at 23:09
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