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Tuesday, 16 Iyyar, 5779
  |  May 21, 2019

    When a $250k Campaign Won’t Do

    From the COLlive inbox: "If something happened to me, how much would an online fundraising campaign raise for my family?" Full Story

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    MAF from a country where Shabbos is already out.
    Guest
    MAF from a country where Shabbos is already out.

    Extremely well said.
    Extremely important.

    Please take note and the ikkur is do NOT procrastinate.
    In any case,
    Zai Gezunt.

    Ch'er
    Guest
    Ch'er

    Being open minded. Allowing my thoughts to follow your mindset. I must ask, respectfully.

    A life insurance policy of 25$ a month allow a return of 250,00$. And how long will that last ?

    And after???
    Guest
    And after???

    Just providing a lump sum is not enough. Both husbands and wives should find out the safest legal methods of keeping that money earning. I have heard countless stories of people getting large payouts from insurance or inheritance, etc. and subsequently lost it all through mismanagement.

    bitachon
    Guest
    bitachon

    For those who have “bitachon”. Do you have full coverage car insurance on your brand new car or do you take what is the legal minimum and have bitachon that Hashem will take care of you. Or…your house insurance. If your house is paid for already, do you have insurance or do you rely on bitachon? If it is not paid for, do you have the largest deductible available on your insurance, because you know Hashem will take care of you? I am not trying to be insensitive to hose who are already not with us, nor trying to put… Read more »

    MRS PERL ARBOR
    Guest
    MRS PERL ARBOR

    MERKOS SHOULD COVER WITH LIFE INSURANCE EVERY SHLIACH WORLDWIDE WHO RUN A COMMUNITY CHABAD HOUSE PROVIDED THEY CAN DEMONSTRATE THEY CANNOT AFFORD IT THEMSELVES.. PERIOD.

    Agreed
    Guest
    Agreed

    Thank u for writing this article. Actually it is important to help instruct people exactly who to go to help u get insured. A friend of mine pressured me to take out life insurance almost 10 years ago at a time where even $25 a month was a stretch for me bcse we were borrowing every month at that time just to make rent and other basics however my friend guided me to a really wonderful Heimishe broker in Manhattan called Michael Frohlich who not only helped me obtain a very lucrative policy for less then $40 per month but… Read more »

    Suggestion for Charidy Campaign
    Guest
    Suggestion for Charidy Campaign

    This article is a no-brainer. It’s an embarrassment that it even had to be written… So why did it have to be written? Because for various reasons, which we needn’t get into here, many couples cannot afford to pay for life insurance…

    So how about a Charidy campaign to raise one million dollars per year to cover the yearly life insurance premiums for 1,000 couples?

    Take Responsibility
    Guest
    Take Responsibility

    Absolutely correct. Anyone who has any dependents must have life insurance. It is incorrect to rely on the community in case of unexpected events.

    Employers
    Guest
    Employers

    Like Shluchim, schools, and other mosdos, should make it a mandatory condition, for continued employment. My local Shliach does.

    To the author
    Guest
    To the author

    I hope you are reading my comment, because every once in a while another life insurance article appears here. 1. Life insurance companies make it very difficult or impossible for people with PRE-EXISTING MEDICAL CONDITIONS to get coverage. Many people who R”L pass away have had pre existing conditions for many years, so they were unlikely to get approved. In the unlikely event that they do approve, it will cost thousands of dollars per year. So much for your argument that “Hashem gave us this tool…” 2. Life insurance companies are a business. They are betting on your odds of… Read more »

    What if
    Guest
    What if

    The fathers mission is to provide for his family, and since that is sorted by having insurance replace him..

    CH Homeowner
    Guest
    CH Homeowner

    Amen!!

    WOW
    Guest
    WOW

    This was a bit heavy to start Chodesh Ellul with.. may Hashem bentch us all with Arichas Yomim Vshonim tovos, and healthy iife insurance packages.

    Can we get a group plan?
    Guest
    Can we get a group plan?

    Can someone create a group plan without taking any commission that will make life insurance more affordable?

    you are absolutely right, but
    Guest
    you are absolutely right, but

    250 K will not do it. at the very least you should have 500K, and truthfully (depending on the size of your family) ought to have a policy for one million dollars. as your kids grow up, and you are not financially responsible for them, you modify your plan accordingly. BTW, (and i am not a broker) you should not be buying whole life, which is much more expensive, and frankly you cannot afford to adequately protect yourself when buying whole life. Buy term life, buy a policy for $1,000,000 costing you (depending on age etc) about $600-800 a year,… Read more »

    Bubbasg
    Guest
    Bubbasg

    Yes, life insurance does provide money for families who lose their breadwinner. More importantly, it also provides them with dignity at such difficult times.

    Meir
    Guest
    Meir

    BS”D
    spot on advise
    an insurance broker about 20 years ago showed me a Sefer (can’ remember the name) and in it, it states that life insurance is a segula for long life and explains why:
    in the time of golus the mazel rests with the goyim
    what is a insurance companies mazel-not to have to pay
    and how does this happen-by the insured living a long and (healthy-my addition) life

    bad side of life insurance
    Guest
    bad side of life insurance

    Unfortunately there is also the bad side of life insurance in that, like all insurance, it provides the yetzer HaRah an opening to Chas V’Shalom to do something bad intentionally to get the huge insurance reward.

    Last week I walked by a house that conveniently “burned down” when all of the owner’s possessions and family members were out of it.. and then a few months later they are rebuilding it with a huge payout from the insurance company.

    I wouldn’t be so quick to try life insurance.

    Arevim
    Guest
    Arevim

    There is also an organization called arevim perhaps someone can post some more about them

    Insurance is a must
    Guest
    Insurance is a must

    We have so many insurance agents in the community that not getting insurance is really a crime. I personally use Dudi Farkash and I highly recommend him for all your insurance needs 718-437-0500.

    I am a life insurance agent
    Guest
    I am a life insurance agent

    Unlike the author of this article, I am a life insurance agent, and I would love to help you. Call me at 610-864-6909.
    -Mendy

    Thanks
    Guest
    Thanks

    VERY well put

    Thank you for sharing
    Guest
    Thank you for sharing

    Very pertinent info! mothers as well as fathers should also buy life insurance !

    So important, but sadly not enough
    Guest
    So important, but sadly not enough

    Excellent that you wrote and every married person(!) Should have life insurance. It is important also to have a policy on your wife – even if it’s a term policy. Even is she is not the actual income earner, the cost of a housekeeper among financing everything she does is huge.
    250,000 helps, but doesn’t sustain a family for very long.
    May we be zoche to no more tragedies and Moshiach now!

    even 1Million wont do
    Guest
    even 1Million wont do

    When a person passes no amount of money in a life insurance will aliviate the pain.

    When people come together and donate, that helps the family.

    Yes you should get life insurance. Yes You should collect for people pass, even if they have a life insurance plan.

    Wise words!
    Guest
    Wise words!

    So true, and thank you for taking the time to share.

    Agree
    Guest
    Agree

    I am impressed. Finally some one calling it like it is.
    Term life insurance is cheap and absolutely a necessity.
    You can always always switch to whole life and eventually to retire. Why depend on others to support your family. One piece of advise. Don’t buy insurance from a friend. Go outside the community and do your research. Rabbis should not marry couples unless they agree to get life insurance

    I agree
    Guest
    I agree

    Life insurance is not a luxury. If you have kids, who will pay their tuition? Who will pay for camp, chasunehs etc. Yes, when Lo Aleinu, a father or mother passes away, I always try to give something to the grieving family. It’s a mitzvah after all to care for widows and orphans. But why put an already grieving family through the financial distress of having to depend on others when for the cost os a few lattes you can protect them? Aside from very affordable term live insurance, everyone with single children under 25 yrs old should sign up… Read more »

    Tuition
    Guest
    Tuition

    What about the schools that ask to be beneficiaries? or companies that dont pay since a person died missed the last payment and beneficiaries arent informed. There are many horror stories of life insurance companies but the unafordabilty is the worst.

    To #2
    Guest
    To #2

    You are right, but that is what the campaigns are doing

    Community
    Guest
    Community

    If we as a community would spend the same amount we spend on life insurance costs, on supporting our own brethren in sorrow and need. That means every time someone pasdes everyone would give at least $70. It would end up being cheaper and the money would be going to true tzedoko.
    I think its time we start supporting our fellow jews, and not the life insurance companies.

    Ps.
    I have life insurance

    Areivim
    Guest
    Areivim

    Areivim in London can a terrific organisation
    May they have the zechus

    areivim is not legit
    Guest
    areivim is not legit

    Be aware, areivim is very problematic. Sign up for real life insurance.

    Simple solution
    Guest
    Simple solution

    No Rabbi should agree to be Mesader Kiddishin untill the couple has life insurance. At that young age the cost will be minimal. Unless there is CV a pre-existing condition. Simply put no one should walk down the aisle Unless they have insurance.

    Group Life Insurance
    Guest
    Group Life Insurance

    To those suggesting a group plan:
    anyone who is in very good health should get individual life insurance and NOT group. Any insurance plan that does not require underwriting (checking on the health status of the subscribers) will automatically atract people who are unhealthy. Therefore group life insurance is much more expensive than individual insurance for healthy people.

    BTW term life insurance for healthy individuals is very inexpensive. I also believe that for ANASH families it is also extremely important for the mother to be insured (at least that’s what I did for my family, 1M each parent).

    To #10
    Guest
    To #10

    You are absolutely correct that there are those who either can’t be insured for health reasons or it will be expensive for them. You are absolutely not correct how insurance companies work. They take a large pool of people and figure that a certain number will die this year, some will live to be 100 and some will cancel the insurance sometime down the line without having ever collected. However, the article was written for those who are healthy and can afford it and don’t purchase it. For those people, life insurance is indeed a tool. One more thing about… Read more »

    Another simple solution:
    Guest
    Another simple solution:

    Before anybody buys seats for the high holidays the Gabbai should inquire whether or not he has life insurance. Once again if CV there is a pre-existing condition then that’s another story. If BH he is in decent health that the shul should require that you get it. If he can’t afford it then let that be instead of the seat.

    Cant afford?
    Guest
    Cant afford?

    Most of us cant afford lots of things but dont do without, insurance must become one of those things we somehow dont do without,
    Perhaps bikur cholim, chai lifeline or othef organizations can help subsidize those with serious pre existing conditions

    Start a Fund
    Guest
    Start a Fund

    Start a Chabad Life Fund.
    Goal to raise 1MIL to fund 2K policies
    500K 30 year terms.

    That is why
    Guest
    That is why

    I would never give any money to help a person who has many kids and cares do little to leave no life insurance if he did care enough to get one why should I

    Again once u are married with kids u need to get a term policy

    And most campaigns do not raise that much and she is left to be another nebach case who send kids to Mossdos and pays almost nothing

    To #36
    Guest
    To #36

    You wrote: “You are absolutely not correct how insurance companies work. They take a large pool of people and figure that a certain number will die this year, some will live to be 100 and some will cancel the insurance sometime down the line without having ever collected. ” Wrong. They factor both. First they place a bet on YOUR odds of survival throughout the term. If you are in good health and a non-smoker, they factor that there is an x percent chance of getting sick or getting into an accident, a small chance which they are willing to… Read more »

    To 40
    Guest
    To 40

    Totally shocked at what u wrote. There are people in pain still sitting Shiva for their loved ones and you have the audacity to write this. You should apologise right now.

    areivim
    Guest
    areivim

    BH there is a organisation called areivim, its a very good way of giving tsedoko and staying insured,

    Do not forget the wives
    Guest
    Do not forget the wives

    Having insurance on a Shliach’s wife is extremely important, it is a very hard to deal with the responsibilities of being a shliach and taking care of several children too, because they have lost their mother. People in the community should pay for the life insurance for the Shliach. I do for 15 Chabad Rabbis in our community and their wives.

    Miami beach Resident
    Guest
    Miami beach Resident

    I bought my Life Insurance through Uri Cohen in Bal Harbour. Very nice guy, he helped me get the best policy, great value for money. Highly recommended.

    To 31
    Guest
    To 31

    Brilliant advice! I wish everyone thought like you. The last few days Tanya talks quite a bit about giving tzedaka … it’s the way Hashem wanted it and it brings geula, not sure where this attitude comes from, but I like your idea.

    Izzy C
    Guest
    Izzy C

    A healthy guy bet 25-30 can get a 20 year term $1 Million dollar policy for $45-50 a month. Stop the nonsense and these pathetic funds. Buy a policy and move on.

    If Obama Cares
    Guest
    If Obama Cares

    Obama should be making sure everyone has a life insurance policy, and if they can’t afford, it should be given for free. Period

    To #47 izzy
    Guest
    To #47 izzy

    Maybe a little senstivity?? I just lost my father this past year and he had some health issues that prevented him from getting life insurance and yes my mother and young siblings need every penny they can get. No one is forcing you to donate if you don’t like but don’t call this pathetic! It’s more than justified tzedaka

    This is so out of place
    Guest
    This is so out of place

    I’m sorry but this article is so out of place. For starters, most ppl have life insurance. And to bash those that don’t is EXTREMELY INSENSITIVE. I cannot believe how people are speaking here. So many people just passed away, it is unbearable just to handle the news. The distraught families or friends open these funds – which counts as charity btw. And all people can say is ‘why are u bothering me with this nonsense, stop dying, you should have prepared your family before hand and had a lifetime of money available’. Really?! What world do u live in?… Read more »

    I disagree with 50
    Guest
    I disagree with 50

    Ask people who lost a loved one but was endowed with life insurance if they regret awareness in this vital issue or if they are grateful that their loved one was made aware of the need to be insured. As unpleasant as it is, the best window of opportunity to make people aware of need for insurance is right after a mishap. You don’t knock on the door of people that are not in danger and tell them about precautions they can take just in case… It’s the autopsy of a misfortune that gets the witnesses motivated to better protect… Read more »

    Dor Yesharim
    Guest
    Dor Yesharim

    This should be mandatory to date like dor yesharim. Once you turn 18 get a 1 million dollar 30 year policy it will only cost a few dollars a month and can at least protect for the one’s who die young.

    Obviously pre exsisting conditions or parents dieing or having had things can disqualify and make some unable to get. But anyone that could should get it.

    X