Magic-Thoughts On An Uncollected Life Insurance Policy

When Life Insurance Goes Uncollected

I have written in the past about my father dying and the gift of his life insurance.  My parents $200,000 term policy grew too much greater sums in the stock market after his death.  That money provided for both college and graduate education for all three of his sons.  It was with great irony, that I recently cancelled my policy, when I realized that I have enough to self insure.

There is a much darker story, however, surrounding life insurance and my father’s death.  A story that leaves me wondering how things would be different if not for one hapless error.

We tell ourselves the stories about our lives that make it bearable.  Or better yet, magical, mystical.  The story of my father’s uncollected life insurance policy is bittersweet.  I choose to look for the magic in this story.  Let’s see if you will to!

It’s In The Contract

My father left his academic position for a much more lucrative job eight months before his death.  Not only was the salary better, because he was now a partner, the benefits were much more extensive.  One of these benefits included the underwriting of a million dollar insurance policy with my mother as the beneficiary.

Of course, when this part of the contract was negotiated, no one had foreseen that my father’s young life would be terminated so quickly and unexpectedly a short time later.   It was one of those just in case moments.

How many times do we spend money to protect ourselves just in case when we know that it is unlikely that these circumstances will ever come to fruition?

• Life Insurance
• Extended Warranties
• Disability
• Travel Insurance

The list goes on and on.

The Policy That Never Was

It was a few weeks after my father’s death that we were informed that the policy so carefully written into my father’s contract was never purchased.  The other partners in the practice had simply forgotten.  An innocent error.  Who knew?

Now it might be a lot more entertaining to say that we went after the medical practice, sued them for all they were worth, and emerged victorious.  But it’s not the truth.

My mother, beleaguered and heartbroken, had neither the energy nor fury to tackle such things.  Instead, she hunkered down and took care of her three boys.  She invested what she had carefully.  She worked and provided for our emotional as well as financial well-being.

And we grew up safe and healthy.

How Do You Interpret Your Life?

I guess I could retell this story with anger.  I could spit venom at those greedy doctors who didn’t deliver on what they promised, and bemoan all the creature comforts that were ripped out of my eight year old hands.

But that’s not how I see things at all.  Instead I see a courageous woman fighting for her kids.  A woman who faced every form of adversity and triumphed.

I see a childhood littered with joy and wonder, family and friends, safety and certainty.

I see magic.