Burial Policies list from Steph1234

[Steph1234]

Hello,

I wanted to share more about the burial policies. They are also called whole life policies. I did my due diligence and hope it may help some of you care for your family's future.

Below is the list of policies I purchased and the payments. The policies are small. Therefore I bought as may i could. There is no underwriting. I took money out of our Roth account to make the monthly payments. I set up a second checking account with automatic withdrawals. I did this only because I didnt like seeing the insurance withdrawals mixed in with my regular checking account. Once one buys the policy, it pays the full policy amount when after two years upon death. If one passes before two years, one gets the premiums back plus typically 10%. Since my husband lived 2.3 years after we purchased the policies. It was a practical investment. The math is if one lives 7.5 years it is not a good investment. (You would do better investing in the market) I have received several checks so far and there are no problems at all. They are all being processed. It takes some time to receive the claim paperwork and send back in the death certificate.

I hope this helps some of you and encourages you. It has been a big help to me and my husband was relieved when he made the two year anniversary of the policies.

Here is what I bought, the payments and the policy payout.

co. Mo payment Policy

Gerber $97.4/ mo $25,000

American General Life $268.3 $50,000

Met Life $129 $25,000

Mass Mutual $122.75 $25,000

colonial penn $87 $13,856

Mutual of Omaha- $ 95.58 $25000

AARP New York Life $112.56 $25,000

AAA $117.5 $25,000

Physicians Mutual $47 $10,000

Vantis life $80.96 $ 20,000

[Kimmilemo]

I am a broker insurance agent and Steph is telling you the facts. Also to many of you that already have life insurance policies that some have accelerated benefits if your dr signs off on them now. Min is usually 50%

[Steph1234 in reply to Kimmilemo]

The American General policy has a terminal illness accelerator. I didnt use it but I was going to. It is a good way to get some money for home care or to pay the premiums.

[Schwah]

Again, thank you so much for taking all the time and effort and despite the pain you must be experiencing, to try and help others in this forum. One thing I can say with absolute certainty Steph....your husband would be very proud if you!!

Schwah

[Betmar]

Hi Steph,

I just want to thank you for sharing such an important tip for those of us going through this. I checked into it after reading your information and it is spot on, and brilliant. I shared it today with someone I know who is panicking at the thought of what she will do financially if she loses her husband. She was very grateful for this information, so I thank you.

God bless you at this time. I am so very sorry you lost your husband.

Take care,

Bettie

[Steph1234 in reply to Betmar]

You are very welcome. I am so happy that my findings and experience matchelp others. I have never seen this financial strategy written about. Therefore, I understand the skepticism.