A client of mine, just came in and told me her son's coach committed suicide. Here's the catch. He has a AAA policy, (which I do too) that states that after 2 years of coverage, suicides will pay out.

Now, from our understanding, his house is being forclosed, and the family ran out of money. Wife, 9 yr old and 6 yr old are the survior.

Its the same guy that you saw on the news on Sunday, and jumped in front of the train.


Suicide to save the family? The policy is going to pay out 750,000.00.

What are your thoughts?

BC

 

I think you have to have a really poor view of yourself to value your life at being worth less than 750k

 

Whoa... No shit.. Well if thats the last alternative for your family to live a better life then be it. RIP.

 

I think the payout will pay off the house and allow his family to have access of money. (I think those are his intentions)

 

That doesn't really answer his question, though.

I think that family is screwed. Anyone can see they are merely trying to cash out their insurance policy. I think they just lost their family member AND the potential money.

Insurance companies will do anything to get out of their promises.

 

It seems to be a trend with all these housing problems.. months ago there was a woman that suicided and wrote a note to her family saying that this was the only way she could provide them with a good life..

Not a very good way to go out..

 

I understand that side of the argument and can't even imagine how hard of a decision it would have been for him to make, but there's also non-tangible things that maybe mean more to your family and friends than just dollars

 

There are better alternatives then dying for a measly $750,000.


Sell house, move to apartment while you get your life together. How is killing yourself for $ better than being there to raise your kids?

 

Found the story...


http://www.bizchicksrule.com/massachusetts...y-the-mortgage/

 

He must have really thought he was doing a noble thing by killing himself. If there was no other alternative, a man has to do what a man has to do. That's the ultimate sacrifice, and he did it in order for his family to live a better life.

Few questions to keep the conversation going:
Will the kids and mother enjoy the $750,000 after going through such a traumatic event?
Will they feel guilty and/or as if they are to blame for his death?