Union head Matt McCarten wants to sell his life insurance policy to help pay $153,000 in unpaid taxes and bills, saying he does not want to "die with debt".
Mr McCarten has terminal cancer. His company, Unite Support Services, was put into liquidation last year with unpaid bills totalling $152,801 to creditors, including at least $100,000 to Inland Revenue.
Mr McCarten said his insurance policy was worth about $230,000 and he had learned only recently that it could be sold off for somebody else to collect on after he died - giving him money in the hand.
"I didn't know people did that. So I said I must be a prime candidate."
The National Business Review reported yesterday that Mr McCarten was considering selling his life insurance policy. The paper learned of its existence in the most recent insolvency report.
Mr McCarten said he was doing other work to pay off the debt, but it would take time.
Last September, he was told the cancer had spread to his liver and he had a 0.8 per cent chance of survival.
He was given between six weeks and six months to live.
"So if someone wants to buy my life insurance, great. It's a good investment because my percentages aren't great. And I don't want to die with debt, and certainly not to the taxpayer."
Good on you Matt. I think the last thing that most of us would be thinking about when facing death - would be the Inland Revenue Department. I know they would not be high on my bucket list.
My prayers are with Matt McCarten and his family. If i could say one thing to him it would be this;
It's MONEY. Who cares? Spend your time focusing on the important things in life - and money ain't one of them.
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1 comments:
Quite so Jackie; the best insurance policy that Matt McCarten could take out would be to make peace with God; the coverage is truly eternal!
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