Update Season X - "It's beginning to look a lot like Christmas Vol. I."

[Joe Biden 2020]

Nice! What did you do with them? Talk about Jesus?

I helped the oldest with his homework just a bit and then just watched them play.

[Joe Biden 2020]

Bushie, I hope you are done working for those horrible MLMs.  They're pure evil. 

Believe me, I am through with those MLM's.

[Joe Biden 2020]

The news about Chesapeake Energy hiring more Metro Tech graduates than colleges or universities is very encouraging.  I know for a fact now this endeavor is not in vain and gives me the drive to keep going.  I should finish LAP 6 and start LAP 7 today.

[Joe Biden 2020]

I've got to plot a couple drawings real quick after lunch, then I should take LAP 6 test by 12:00 and start LAP 7 by 13:00.  I should get to LAP 8 on Thursday.

[Joe Biden 2020]

Walter, yes, week 1 was my only full week.

Torie and Gramps, I sold a policy to a former college professor and another to a college friend and his family.  These were both in early 2006, about 7 1/2 years ago.  I even have a policy of my own.  I have ~$200,000 in my policy and have been paying on it for 8 years.  Primerica is strictly term life.  They call cash value - "trash value".  If I had found a third recruit and more clients, I would have done well and turned my business into a regular commission sales job.  I was good at selling policies, I was just too timid to ask anybody for their time to show the product.  I did come away with priceless financial knowledge.

I've had several jobs with regular paychecks.  Remember all the call centers, like ONG, Sprint, Convergys, Dell, Xerox, and Unisys?

[Joe Biden 2020]

Can I ask what you're paying for the life insurance?

$51 per month.

[Joe Biden 2020]

I was good at selling policies, but I only could sell 3.

My timidness really bogged me down and I didn't give myself fully to it.

[Joe Biden 2020]

Ah, come off it man. You've got Tourette's. That's why you're a sh!tty salesman, and always will be... and why attempting to become one with inevitably end with... well...

You're right, I'm not a good salesman.  Not only because of my Tourette's.  I wasn't great at selling policies, but I could hold my own.  There was one reason for it.  I enjoyed it as I was in the business with a friend and made several friends in my time there.  I never liked Kirby, and I only tried it three times by stumbling on it the last three times and too desperate to say no.

[Joe Biden 2020]

My family is horrible at selling.  My grandmother used to say she couldn't sell a $5 bill for a nickel.

[Joe Biden 2020]

I had a great day at school. I received an honor right before the end of the day. My instructor asked me to make a live drawing that will be used by the school. He is going to find out all the details this afternoon and let me know in the morning. This will be my first major portfolio project and will be used to bring the MTC CADD program some prize money! Out of all the students in the class, he chose me.

[Joe Biden 2020]

Can I ask what you're paying for the life insurance?

$51 per month.

And who is the beneficiary?

Until I get married, my mother is the beneficiary and my brother is the secondary.

[Joe Biden 2020]

So your mom is paying for your life insurance?

For now, yes.

[Joe Biden 2020]

Wow, Bushie has a $200,000 life insurance policy?? Suddenly all his parents' actions make so much more sense. The poor bastard.

This simply means that not only is Bushie a terrible seller of insurance policies, but he's a terrible buyer of them as well.

Yeah, >$600/year for a $200,000 policy is not that great.  Jeff, what's the term on this policy?

I'll have to look at it.  I can't remember it right off hand.  Mom and I just pay the premium and I have peace of mind because of it.  I'll dig out the actual policy sometime and check.

[Joe Biden 2020]

I'm curious... take a guess... is it like 15 years?  30 years?  More or less?

I'm wanting to say 30 years, but that's just a guess.

[Joe Biden 2020]

The likelihood of me clocking out by age 53 is a little better than most healthy people, I will probably have to get a new policy as I get into my early 50's.  again, I'll have to take a look at my policy to make sure.  I got it now because you just never know when your clock runs out.

[Joe Biden 2020]

The likelihood of me clocking out by age 53 is a little better than most healthy people, I will probably have to get a new policy as I get into my early 50's.  again, I'll have to take a look at my policy to make sure.  I got it now because you just never know when your clock runs out.

But give me a number... estimate what the chance is that you'll die by the age of 53.

Maybe 35%?  That's a wild guess, though.

[Joe Biden 2020]

Jeff, at what age do you plan on getting married?

I'd like to get married soon, so I can't really plan on an age.  That's something God knows and I don't.

[Joe Biden 2020]

The interesting thing is that if Bushie's actually believes his death probability numbers are real, that's probably why he think his policy is so great.  At a 35% chance of death in his 30 years after purchasing a 30-term life insurance policy, if you ignore inflation and potential gains from investment (the former assumption is faulty but the latter is not, considering who we're talking about), he should actually be willing to pay anything under $194/month for a $200,000 policy.

The probability is probably less than I said, it was just a stab in the dark.  That, too, is something that is really impossible to predict at any age.

[Joe Biden 2020]

The interesting thing is that if Bushie's actually believes his death probability numbers are real, that's probably why he think his policy is so great.  At a 35% chance of death in his 30 years after purchasing a 30-term life insurance policy, if you ignore inflation and potential gains from investment (the former assumption is faulty but the latter is not, considering who we're talking about), he should actually be willing to pay anything under $194/month for a $200,000 policy.

The probability is probably less than I said, it was just a stab in the dark.  That, too, is something that is really impossible to predict at any age.

Then how could you know that buying life insurance (or rather that policy) was a good idea?

I think my estimate was high, but the fact is nobody knows when they will pass, so speaking as a former life insurance agent, I believe everybody regardless of age (and medical condition, mind you) should have some form of life insurance.  All the way from infants to children to teenagers to adults to the eldest among us.  I really like the pre-existing clause in the ACA, now my wish and my hope is for it to be applied to life insurance as well.

To further and more directly answer your question.  I was a life insurance agent and a salesman.  At the time I wanted to buy the product I was selling for myself so I could relate to the customer's position and concerns.  If I were a water filtration salesman for instance, I would want to buy a water filtration system for myself so I can tell customers from first hand knowledge how it works, not just how a book says it should work.  I know they're not the same thing, but the concept is, at least in my mind.

[Joe Biden 2020]

so speaking as a former life insurance agent

Yes, yes, I would like to buy some of this insurance for former lives.

I really like the pre-existing clause in the ACA, now my wish and my hope is for it to be applied to life insurance as well.

A pre-existing life is pretty common, no?

I meant pre-existing condition.  I just assumed everyone would know what I was talking about in regards to the ACA (ObamaCare).

[Joe Biden 2020]

The interesting thing is that if Bushie's actually believes his death probability numbers are real, that's probably why he think his policy is so great.  At a 35% chance of death in his 30 years after purchasing a 30-term life insurance policy, if you ignore inflation and potential gains from investment (the former assumption is faulty but the latter is not, considering who we're talking about), he should actually be willing to pay anything under $194/month for a $200,000 policy.

The probability is probably less than I said, it was just a stab in the dark.  That, too, is something that is really impossible to predict at any age.

Then how could you know that buying life insurance (or rather that policy) was a good idea?

I think my estimate was high, but the fact is nobody knows when they will pass, so speaking as a former life insurance agent, I believe everybody regardless of age (and medical condition, mind you) should have some form of life insurance.  All the way from infants to children to teenagers to adults to the eldest among us.  I really like the pre-existing clause in the ACA, now my wish and my hope is for it to be applied to life insurance as well.

No; not everyone should have some form of life insurance.  And applying the pre-existing clause in the ACA would not work for life insurance unless you mandated that everyone buy life insurance, and that would be STUPID, because while people without health insurance will pass costs on to the insured when they go to the hospital, not everyone who dies passes costs on to society when they die.  At most, those costs are passed on to the person's family for their funeral.  The absolute stupidity of this post is amazing... I mean are you frakking serious, man?  I knew you were financially less-than-knowledgeable, but it seems that your job of selling life insurance actually made you MORE financially stupid for lack of a better term.

Wow, calm down, man.  I was explaining my view and I get attacked and called financially stupid?  Sheesh.

[Joe Biden 2020]

Of course, the pre-existing clause could not be universally appiied to life, but I believe that no one, and I mean no one, should be denied life insurance because of a pre-existing condition.  That almost seems cruel to the applicant.

[Joe Biden 2020]

I wish there were packages that have "as much as necessary" clause, just enough to cover the cost of the funeral and pay off the bills and debts of the deceased, within a reasonable limit.  I don't like the idea of half million dollar policies, myself, and if I had my choice today I would choose a $75K policy.  I just want enough to pay my funeral and burial costs and pay off my debt.  Death should not be a financial burden on the family, but it should also not be a financial windfall either.

[Joe Biden 2020]

As a real licensed (Bushie wasn't licensed) insurance broker for 31 years, I'm enjoying the words of the lifescam agent, Inks.  Please let him continue.

Actually, I held my actual life, accident, and health license for two years.  I got it in 2006, and let it expire in 2008 without renewing it.  You can call the Oklahoma Insurance Commission and check for yourself.

Inks, Primerica is owned by Citi Group.  They are a legitimate company that sells real life insurance policies and with an extra license, securities.  Their hierarchy is a Regional Vice President, Division Leader, District Leader, Represenative, Unlicensed Representative.  The company is recognized by the Oklahoma Insurance Commission as a legitimate company and my license was just as valid as those from let's say, Farmers or State Farm.  I know quite a bit about finances.  My leaders taught me well.  I am not dumb or naïve on finances.  I have all the right in the world to vote in business meetings.  I am just as competent as the next person.

[Joe Biden 2020]

As a real licensed (Bushie wasn't licensed) insurance broker for 31 years, I'm enjoying the words of the lifescam agent, Inks.  Please let him continue.

Actually, I held my actual life, accident, and health license for two years.  I got it in 2006, and let it expire in 2008 without renewing it.  You can call the Oklahoma Insurance Commission and check for yourself.

Inks, Primerica is owned by Citi Group.  They are a legitimate company that sells real life insurance policies and with an extra license, securities.  Their hierarchy is a Regional Vice President, Division Leader, District Leader, Represenative, Unlicensed Representative.  The company is recognized by the Oklahoma Insurance Commission as a legitimate company and my license was just as valid as those from let's say, Farmers or State Farm.  I know quite a bit about finances.  My leaders taught me well.  I am not dumb or naïve on finances.  I have all the right in the world to vote in business meetings.  I am just as competent as the next person.

Did anybody at Primerica ever tell you that everyone should have life insurance, or was that something you came up with?

'
They told me I should have it.  I think they took one good look at my belly, which was starting to get nice and fat, and said "do it!"