what is birthday insurance?

by nazy » Sun Jan 06, 2008 08:33 pm
Posts: 12
Joined: 06 Jan 2008

Please explain about birthday insurance?

Total Comments: 30

Posted: Tue Jan 08, 2008 05:25 am Post Subject:

Hi! we had a discussion on birthday insurance earlier on our forums. I've searched for the thread for you from the discussion archive. Please check the Url below.

http://www.ampminsure.org/birthday/index.html

Hope it'll help you in understanding the topic.

Thanks,
Steven

Posted: Fri Feb 08, 2008 04:01 am Post Subject: Birthday Insurance

I think the previous discussion was about which parent carries insurance on the children.

There is a Birthday Insurance policy a person, usually a grandparent, can buy. After the policyholder dies, the insurance company will send a birthday card and a check to the grandchild or another person for a specified number of years.

I'm not sure which one you were looking for.

Renee

Posted: Fri Feb 08, 2008 11:49 am Post Subject:

Never heard of that before, sounds like a nice thought, but kind of haunting don't you think?

Posted: Fri Feb 08, 2008 04:26 pm Post Subject:

Yes, It sounds good for the person who thought enough to do that,but would be a constant reminder of a dear one's passing.

Posted: Fri Feb 15, 2008 04:03 pm Post Subject:

I have also never heard of this type of insurance. But the plans look nice.

Posted: Fri Feb 15, 2008 05:11 pm Post Subject:

I have never heard of it before either, who ever came up with this? I don't think it would be any different than leaving it in payment form like any other insurance, it is just that putting the name "birthday" insurance on it makes it sound kind of creepy.

Posted: Fri Feb 15, 2008 06:10 pm Post Subject:

Yes, it is, but the idea behind it is a great one.Guess the people who take out that kind of insurance is making sure they are not forgotten.

Posted: Mon Feb 18, 2008 03:58 am Post Subject:

From a consumer standpoint, birthday insurance is a great way to be remembered and it's relatively cheap. You pick the card, pick the amount, pay the premium and when the time comes the beneficiary receives the allowable amount as a birthday present.

My grandmother used to send me one $2 bill every year for Valentine's Day and my uncle used to buy me a Hess truck every Christmas. I miss those type of presents. Too many people these days focus on the most lavish things they can buy and then wonder why the average consumer is in debt.

Some agents will analyze every calculation imaginable against birthday insurance to reinforce their position about recommending a more suitable investment option, but it's really a matter of personal preference.

From an insurance agent's perspective, the commission is the lowest I have seen on a life insurance product, so I wouldn't worry much about some greedy agent coming after you to get you to sign up.

Posted: Tue Feb 19, 2008 05:53 am Post Subject:

Sounds like a very thoughful gift to me.In thses days of people fighting over their inheritance its a good idea.

Posted: Wed Feb 20, 2008 02:26 pm Post Subject:

I have a feeling I'll have to fight for my inheritance. Never heard of birthday insurance before this.

Things today never cease to amaze me. There just isn't much at all taht hasn't been done or thought of.

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