On Tuesday 26 February 2008, bw95945 wrote:
> I also want to know if Primamerica is an okay company for life
> insurance. 20 years ago before I new what MLM was I got a life
> insurance policy from them. This is the only life insurance I and my
> husband have and we are too old to get a good deal on a new policy.
> Becky
I don't know how to say this without it sounding like I'm criticizing
you, but if you have a policy, then you have the information on it, so
it's essentially your job as the consumer to read the terms and
determine what the value is and if it'll provide what you want. Is
your goal to make sure burial costs and other end-of-life issues are
covered? If so, check on what the value is and research what the costs
will be.
It's not only a case of "Let the buyer beware," but also, in this case,
since you have the product, then you should do the research to find out
what you have and if it's going to give you what you want. If it
isn't, check with AARP. They have life insurance for the elderly.
On a related note, as someone who was in meeting with not one but TWO
lawyers yesterday to go over my will and estate arrangements, but also
as someone who has spent most of the past 14 months dealing with the
issues surrounding my Father's death and his estate (he died without a
will), this is something that should NOT be left to accepting someone
else's answers on whether or not one company provides the best life
insurance.
If you can't afford a lawyer to settle this, then the responsible thing
to do is to research it, both on the web and with books, as well as
finding out what the deal is with local laws (for example, whatever I
inherited from my Father remains mine as long as I stay in Virginia,
even if I get married, then divorced, but if I move to certain states,
THEN get a divorce, she'd get a share).
I know it's hard. It's unpleasant, but if you, or anyone else, is
concerned about whether a life insurance policy you bought years ago is
good enough, then it's time to not only review that policy and compare
it to what the costs involved with your death will be, but it's also
time to either talk to a lawyer or do some serious research. Since
there was no will, if it had not been for those TWO good lawyers we
had, my sister and I would have ended having to make sure everything
was in our Mother's name and we would be losing 45% of it in taxes when
she dies.
If I sound hot about this, I've learned that it's something that needs
to be worked out well ahead of time and I'm also surprised at the
question, since a review of the policy would answer most questions.
And, along with that, if I'm being hard nosed about it, it's because I'm
hoping I can shake a few people up so their loved ones don't have to go
through probate and a legal purgatory that is anything but fun.
Hal
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