Charlie;

May I point out you are discrediting a part of your own statement. “It's got nothing to do with age or discrimination”, with qualification #2.

“(2) Now that you are 15 years older, statisically you are at a higher risk. It's is absolutely fair the Ins. co. raises your rate”.

You are so correct that “there is no free lunch”.

Like every thing to do with money in our society, if you have a life insurance policy hopefully should it be paid out the money to do so will be there. Several major life insurance companies have gone bankrupt within the last 12 years. What you think you have may not be there. That should give everyone a “warm fuzzy feeling”.

One example of a life insurance company folding was Executive Life in 1990. The company I worked for decided to invest our 401 K’s in that company a few months before it declared bankruptcy. Many people across the nation lost his/her retirement. I lost over $30,000 but fear not! A few months ago the remains of Executive Life was bought by another company and those of us who had invested in the original company received “pay outs” to cancel our accounts. I received a check for $9.92. That is what remained from my 401K.

I am looking forward to retirement in perhaps two to four years. My $1170 from Social Security will pay one half my rent in Silicon Valley. My choices are to work until I drop or become homeless. Perhaps I can take some lessons in being homeless.

So be sure you invest in IRA’s, 401K’s, Life Insurance, Bonds and Savings Accounts. It has great value but perhaps not to you!

Tom

>It's got nothing to do with age or discrimination.
>
>There are two things going on here you are not considering.
>
>(1) The time value of money. $53.00 15 years ago, is not the same as $53.00 today. You also have to figure in opportunity costs of capital and labor productivitiy.
>
>(2) Now that you are 15 years older, statisically you are at a higher risk. It's is absolutely fair the Ins. co. raises your rate.
>
>There is no "free lunch".
>
>Charlie