194 – French reverse mortgage – Jeanne Calment
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Jeanne Louise Calment lived to 122 years of age (a species record). Who would have thought such an age was achievable? How would you feel, betting against such a long life, and losing on the deal?
Shawn and Mark discuss how a business might use this story to illustrate the unexpected nature of planning, and the danger of ‘the sure thing’.
Welcome back to a new Anecdotally Speaking episode.
For your story bank
Tags: deal making, property, unexpected, old age, insurance, outliers, planning
This story starts at 01:48
In France, a stipend can be paid to an (elderly) home owner
Upon the death of the owner, ownership passes to the stipend payer
Andre Refrais made a deal like this with Jeanne Calment in 1965, who outlived him by 2 years and lived to 122 years of age
(R’s family continued to pay the stipend until J’s death)
This story is set in Arles, France (where Van Gogh spent part of his career)
J remembers supplying pencils to Van Gogh during her huge lifespan
A ‘sure bet’ isn’t always so predictable
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