For the first few years after I keeled over with a couple of heart attacks, the life insurance people did not want to know me. Or, rather, they would only consider knowing me if Iād agree to an extremely huge loading on the monthly premium. This is something you agree to if you wish to have a mortgage.
Once I had the life insurance, the agent said have you thought about income protection? I said that sounded like a good idea, but I went cool on it when he laid out the figures. It looked like an awful lot of premium for not all that much, if things went south.
That's insurance for you: the risk gets shared around, and you pay more if you're especially risky and the numbers tell the tale son, can't argue with the actuaries.
