Saving You Money For Life

This blurb is from the July issue of Money Magazine. It was written by Joe Light.
“Imagine your grandson walking out the mailbox on his 80^th birthday and finding a card and a check from you – decades after you’ve kicked it. That’s the bizarre promise of AfterThoughts Birthday Insurance, launched last year by an outfit called Commemorative Life Insurance Services in Laguna Hills, California.  Here’s how it works: You pay a premium each year, and after you die, the insurer will send a check (and a card) to your grandkids on their birthday for as long as they live. If you’re a nonsmoking 70 year old man, you’ll pay about $580 annually to guarantee two grandkids $100 each a year (an amount that doesn’t rise with inflation). Thanks in part ot the fees involved, you’d almost certainly do better by investing the $580 on your own and bequeathing the proceeds to your offspring. Even better: You won’t run the risk of totally creeping them out.”

You can leave a response, or trackback from your own site.