Good question..do credit card/banks really pay you

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PostPosted: Tue Jul 14, 2009 12:44 pm   Post subject:   

Hello,

Unfortunately I cannot always answer questions as quickly as I would like on blogs due to a busy schedule. So don;t think that I dissapeared.



Hart To Hart World Traders LLC is DBA as FindYourPolicy.com. Hart to Hart has been around for over 5 years and FindYourPolicy.com has been registered for 2. During these first 2 years we have been doing market research and also refining our service and figuring out price points that will be acceptable to industry. Our membership is very steadily and we are happy with the growth concidering we have not done a major advertising campaign as of yet.



Hello Rupert,

You asked "Would your company update the information autometically when an insurance company changes its name or gets merged with another? "

The answer is no. We only allow you the member to update your information. When a company gets bought out or merges with another company they will automatically send you information in the mail. It is your (the insured) responsibility to keep your beneficiaries informed of this information. You would then log into FindYourPolicy.com and update that information. If they do not know the new change it will make it even more difficult for them to find and claim benefits. FindYourPolicy.com has an added service where we will locate new company names of old life insurance companies. So if in 20 years you pass away and your beneficiaries cannot find the company that you originally had life insurance with due to a mergber, we can find it for them.

The fact that there are people on this forum that are looking for life insurance policies on their loved ones shows us that our service is on the right track. Also while doing research I spoke with life insurance companies that say they get 1000's of calls daily from people searching for possible life policies on their loved ones, tells me that FindYourPolicy.com is a necessity.

I have also noticed that anyone in the life insurance industry cannot understand why people just don;t inform their beneficiaries. I also agree, it is not that hard to keep people informed, however, there are so many factors that come into play. Communication gets forgotten, writen papers get misplaced. I was even at someones house to review their life policy to see if they need more and they could not find their policy paperwork and they did not remember the company name. They eventually did but if they were to pass away, no one in their family would have found it.

Yes more people have to be aware how important it is to simply keep connected and keep this information easily accessible. This is why we started FindYourPolicy.com It is not for everyone, however, it is a great back up just incase.

On another point, I am by no means comparing our company to LifeLock. But they work on a similar concept. They offer a service that you can easily do yourself but they are now getting recognized as a company that will do it for you so you do not have the headach or forget.

We simply store information to prevent misscommunication and the possible loss of valuable information. Can you do it yourself? Absolutely, can we assist you to make sure it is always available, Absolutely.



SDChargersfan,

I have people that have used the will paper work from Office Depot. They have been written by professionals and they have been very happy with it. It is also not very expensive and much cheaper then going to an attorney. Might be worth looking into.





Hello Steve,

Yes, you are correct. However, we will always allow people to pay one year at a time so there is a comfort level for individuals who need it. We will eventually offer a discounted rate for a longer membership period.



Thank you for all your questions. Michael

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PostPosted: Tue Jul 14, 2009 4:43 pm   Post subject:   

Quote:
You would enter your first and last name, your address and phone number which is optional, the last four digits of your Social Security number along with your date of birth. (This is information that some banks use for security and no one can do anything with it)




Actually, I could use this information to obtain your entire social security number. The last 4 digits are the only unique identifiers in a 9 digit social. The first 6 are dependent on when and where you were born. If I have a name and date of birth, this information wouldn't be too hard to come by!
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PostPosted: Tue Jul 14, 2009 4:44 pm   Post subject:   

Whoops...the first 5 are dependent on when and where you were born. I'm a little slow today!

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PostPosted: Tue Jul 14, 2009 6:33 pm   Post subject:   

Hello Chris,



We have researched this subject and at the time found that since banks use the last four digits of your social and your birthdate for security we felt that it is a good source of security for us also. We also have a secure database with features to inform us and prevent penetration. We are doing all we possibly can to prevent any breach to our Database.



Michael

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PostPosted: Wed Jul 15, 2009 7:37 am   Post subject:   

Micheal, many a times fraud may occur within a financial organisation, i.e. the employees misuse the information provided by the customers. I'm sure that you would take enough care to protect the data of your customers but a slim chance would still remain as Chris has mentioned, wouldn't it?



~Jeremy

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PostPosted: Wed Jul 15, 2009 11:29 am   Post subject:   

Quote:
but a slim chance would still remain as Chris has mentioned, wouldn't it?
I wouldn't think the chances would be any greater than banking on line, purchasing on line, or bill paying on line. Nothing is 100% and a breach in any of them could be catastrophic. Anytime you put up any personal information on line there is always that risk. However, personally I wouldn't be near as concerned about the information on Micheals site as I would say, banking, or credit card info. If someone were to breach his site, they'd get what information? Life insurance policys? Ok, then they have to figure out when the person dies, and get the certified death cert. then get the full identity of the beneficary, and convince the carrier that they are that person. Too much trouble...doubt there would be much interest (from crooks) in getting info from his site.


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PostPosted: Wed Jul 15, 2009 10:41 pm   Post subject:   

let me ask you this... Instead of susbcribing to the website you mentioned, cant i simply take a peace of paper write all my stiuff and store it at a locker and in my will i can mention how to get accessed to it

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PostPosted: Wed Jul 15, 2009 11:15 pm   Post subject:   

you know what... why dont you start a service such as after you die ... this firm takes care of all your financial issues... such as closing bank accounts, clainming insurance etc for a certain fee. This way i just need to be contact with one firm and they have a file and tracking of my financial stuff

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PostPosted: Thu Jul 16, 2009 12:05 am   Post subject: Good question..do credit card/banks really pay you  

You can store all of your stuff in a locker....that does not mean your beneficiaries will find it!! That is the whole point. If they are not informed on a regular basis...(like they would be thru FindYourPolicy.com) then your locker idea really would be pointless. Besides, would you not want to pay for a simple service such as FindYourPolicy.com and make sure your beneficiaries are informed INSTEAD of paying for a locker and hoping your beneficiaries remember where your locker is??!!



Sure, you can also subscribe to a docu (your paying for it anyway, you might as well pay for FindYourPolicy.com and make sure your beneficiaries find your documents!)



FindYourPolicy.com is a living benefit. And you only have to be in contact with one firm....FindYourPolicy.com!! It is for those who want to make sure, while they are living, that all is covered. It is well worth the $24.95/yr. It is insurance on the insurance...you can't go wrong! I think it is a great idea!



Let's stay on the subject of "Good question..do credit card/banks really pay you" as the subject line suggests!!


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PostPosted: Thu Jul 16, 2009 6:11 pm   Post subject:   

Quote:
I wouldn't think the chances would be any greater than banking on line, purchasing on line, or bill paying on line. Nothing is 100% and a breach in any of them could be catastrophic. Anytime you put up any personal information on line there is always that risk. However, personally I wouldn't be near as concerned about the information on Micheals site as I would say, banking, or credit card info. If someone were to breach his site, they'd get what information? Life insurance policys? Ok, then they have to figure out when the person dies, and get the certified death cert. then get the full identity of the beneficary, and convince the carrier that they are that person. Too much trouble...doubt there would be much interest (from crooks) in getting info from his site.




I would be much more concerned with this site. Nothing has to be breached. I'd be concerned with an "inside job". A bank is a corporation with insurance. If a bank employee uses inside information to steal your identity, you'll have recourse against the bank. Find your policy is Michael. If Michael is a crook, what financial recourse do you have?
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PostPosted: Thu Jul 16, 2009 6:39 pm   Post subject:   

Quote:
You can store all of your stuff in a locker....that does not mean your beneficiaries will find it!! That is the whole point. If they are not informed on a regular basis...(like they would be thru FindYourPolicy.com) then your locker idea really would be pointless. Besides, would you not want to pay for a simple service such as FindYourPolicy.com and make sure your beneficiaries are informed INSTEAD of paying for a locker and hoping your beneficiaries remember where your locker is??!!



Sure, you can also subscribe to a docu (your paying for it anyway, you might as well pay for FindYourPolicy.com and make sure your beneficiaries find your documents!)



FindYourPolicy.com is a living benefit. And you only have to be in contact with one firm....FindYourPolicy.com!! It is for those who want to make sure, while they are living, that all is covered. It is well worth the $24.95/yr. It is insurance on the insurance...you can't go wrong! I think it is a great idea!




Michael, oops, I mean person who isn’t Michael,



If find your policy is “insurance on the insurance,” shouldn’t we think of it as such? For instance, if you sold life insurance, would you want to make sure that the corporation was financially stable? Wouldn’t you want to make sure that the corporation was going to be in existence to pay the claim when the claim occurred? Would you advise someone to buy life insurance from a corporation that has never paid a claim? Instead of using a life insurance company, would you let a client give $100/month to a stranger in exchange for a promise to pay your family when you die?



Michael, find your policy isn’t a corporation. It is you. That means that the premise is that strangers are going to personally pay you $25/year in exchange for your promise to maintain a searchable database and send a couple of e-mails. If this is profitable enough and you stay alive, you will probably keep doing this for as long as you can. If it isn’t profitable enough or if you die, the service dies with you. You may or may not do a good job of doing what you are supposed to do. If you aren’t honest, and you find a way to misuse the information, what recourse does anyone have against you? Do you have any liability insurance that provides coverage for criminal acts by you or employees?



This beneficiary information is very important. Why would anyone pay $25 and give the responsibility to a stranger instead of paying nothing and handling the responsibility themselves.



“Dear attorney, CPA, financial advisor, Beneficiary 1, Beneficiary 2, and Beneficiary 3, If I die, I have the following items: A, B, C, D, E, F. Beneficiary 1 is the beneficiary of all of them. Beneficiary 2 and Beneficiary 3 are the contingent Beneficiaries. The originals are all kept in my top file cabinet. My attorney has copies of everything.”



I still very much like this idea of find your policy in general. However, it needs to done by a corporation and not an individual. Ideally, it needs to be done by an organization that has insurance company records so that the information doesn’t need to be self-reported.
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PostPosted: Fri Jul 17, 2009 12:47 am   Post subject:   

I think the website find your policy.. need to refocus there aims... I think they need to provide more services, more wider scope to convince people

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PostPosted: Fri Jul 17, 2009 12:48 am   Post subject:   

Can I ask you something.. when did Find your Policy.com was launched? and how many members do you have upto now?

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PostPosted: Sat Jul 18, 2009 4:20 am   Post subject:   

It is my understanding that a family member can do a search on MIB.com for lost policies. All Life insurance is reported there.

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PostPosted: Sat Jul 18, 2009 12:12 pm   Post subject:   

The MIB does have a large database. I'm not sure if their records go back for this purpose longer than 7 years. I don't know if that is a rolling 7 years or if they just started having this policy locator service 7 years ago. All life insurance isn't reported, but much of it is.

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