Order for a hearing to discuss the initiation of a study that assesses life insurance need for low-income residents.
06360636. Councilor Fernandes Sanderson offered the following order for a hearing to discuss the initiation of a study that assesses life insurance needs for low income residents. Thank you. The chair recognizes Counsel Fernandez and to send Counsel Fernandez Anderson. You have the floor. Hello again. Thank you, counselor. President Flynn. So I'm getting a little bit chatty this afternoon, and I know it's going to. It's going to settle down, so I offer you this order. Due to both historic discrimination, merit out of perspective, black and brown holders of life insurance, and ongoing disparities in those who have coverage today. So black people have often been charged higher insurance rates for the same policies that others receive at lesser price. Due to this ongoing legacy of discrimination and a degree of distrust has developed. And many in the in the black community or black and brown community tend to overestimate the cost of life insurance. Black women are least likely or at least likely group to be insured, despite being largely responsible for raising a good percentage of the family units that they are a part of. Life insurance is an important financial resource to pass down. Those without it are in distinct disadvantage in terms of generational wealth. For these reasons and more, I offer this order to initiate a discussion in regards to the life insurance needs of poor and working class communities. And I guess I'd just like to say that, you know, it's also a really good idea to have to set up as a family to set up your financial portfolio. And for poor families, they often face this challenge of not being prepared. Unfortunately, we've all, I think, quoted the research here that black and brown people die in Roxbury 30 years sooner than their counterparts in Back Bay. And so oftentimes you see a lot of like sort of fund raisers, last minute go fund me to bury their loved ones. I think that this is it would be a really good idea to just do a study just to sort of assess the need in Boston and how we can support our poor and working class families . Thank you. Thank you. Counsel Fernandez Anderson. Is anyone else looking to speak on this matter? Would anyone else like to sign on to this matter? Please raise your hand. Mr. Kirk, please add Council of Royal Council. Book Council. Braddon Council. Kolkata Council. Flaherty. Consultation Council here. Councilor Murphy, please have the chair. Dawkins 0636 will be assigned to the Committee on City Services and Innovation Technology. Mr. Clerk, please read Docket 06370637.