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Cashing Out February 11, 2008

Posted by The Mom in money.

8pm 0.5ml Suprefact sc

I have fallen off the Metformin wagon lately and I need to get back on.

M has cashed in an expensive with low yield life assurance policy that he took out in 1997 when he bought his first shop. All this time he has been contributing to it, even though he sold the shop in 2003. Back then it was a small percentage of what we were earning and so made little difference. Now it is €90 a month when we don’t have €90 to spare. In March 2007 we made contact with the insurers and were informed that we need a certificate of deassignment as the insurers still considered it assigned to a mortgage (which no longer exists). It took until January 2008 for the bank to issue the cert! M estimated the value (considering the currently downturn in the Irish stock market) to be €3000, I was generous & gave it €3500. On Jan 28th he rang the insurers and got a value of €5799!!!! By the time the cheque was issued the market had taken another down turn and he was not hopeful for it reaching the valuation on the phone.

Last Friday the cheque arrived and was for €5889!!!!

I have wondered for the last little while about where I am going to get the money to pay for the next cycle. In the past there has always been money there, savings or the proceeds of a house sale but money none the less. I have a credit union loan since before Christmas which is paying off the outstanding credit card bill so I wasn’t in a position to borrow from them. Last year my father offered us the cost of a cycle but I politely declined as that is just not somewhere I want to go.

This cheque means that I can pay for it, in full, in cash! I paid for D’s cycle in cash. Now D’s cycle cost €500 which is a little different to handing over €5400 but it is something I want to do none the less. I don’t want to worry about a direct debit going out the account and leaving it without enough money to clear the cheque. I don’t want to put it on my credit card again. Let me repeat myself there… I don’t want to put it on the credit card again! If truth be told I am currently paying off a credit union loan that was drawn down to pay the credit card bill that wasn’t cleared after the last cycle in November. That is not somewhere I want to go again! So cash it will be!

I thought about ringing the clinic this week to see if anyone had been cancelled and then decided not to. I figured I had plans and was just going to run with them. Well, I caved! I just rang them and told them that I am here, waiting, ready, down regulated, having had a period and that if something comes up I am available.

I had already made the decision this morning to go to Dublin on Friday so that makes no difference.

Now I am just waiting for a call back. To be honest it is unlikely that something is going to come up but I have asked none the less!

I am divided between wanting the phone to ring with a cancellation and just wanting to carry on with the plans I had already. Hello rock, it’s the hard place calling.

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1. Anonymous - February 14, 2008

What great luck about the policy, especially with the market downturn, wow. I’m really hopeful this positivity/luck/whatever you hell you want to call it, will run through your cycle too. You more than deserve it.


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