by Maretta55 » Fri Jul 06, 2012 07:41 pm
I am currently looking for low cast whole life insurance for burial only. I have a policy for 5000 which will be paid in full in 2017. My sister is temporary paying this since I only working part time an staying in her good grace. I had a whole lot more on my job @ Marsh USA before it's major national disgrace in 2004 and 2005. I and thousands more was kick to the curb. I am 55 and have only the 5000 and I need to increase up to 20 to 25,0000. I received information today which says "New state-regulated life insurance program to pay for Final Expenses for pennies a day" "IMPORTANT-FOR ILLINOIS CITIZENS 2012 BENEFIT UPDATE" regardless of med conditions. "Special Program will pay 100% of all funeral expenses not paid by government funds, up to $25,000 (TAX FREE) for each Illinois citizen covered. Also receive a free memorial guide by returning this postage-paid card" To see if I quality I must return today this prepaid card with my name and signature. This if for ages 50 to 80. Could this be for real? I just talked with Globe on yesterday and now I received this today. How can I confirm this information? The return address on is MSS P.O. Box 4 Sheridan In 46069-9904. Thank you for your time and recommendation.
Posted: Sun Jul 08, 2012 04:45 pm Post Subject:
"New state-regulated life insurance program to pay for Final Expenses for pennies a day" "IMPORTANT-FOR ILLINOIS CITIZENS 2012 BENEFIT UPDATE" regardless of med conditions. "Special Program will pay 100% of all funeral expenses not paid by government funds, up to $25,000 (TAX FREE) for each Illinois citizen covered.
Just a gimmick to get you to buy and give them your money. Nothing about this is new or special for Illinois residents. Policies like this have been around for decades. The only thing that's new is your particular interest.
How can I confirm this information?
Contact the Illinois Dept of Insurance and ask them.
If the company is Globe Accident and Life Insurance Co., you have little to worry about. They've been doing this for a long time and are an OK company. They specialize in low value, high cost insurance for folks who wait until they are old to apply for life insurance.
Any company can choose not to apply underwriting to an applicant for any reason it chooses. What is cannot do is discriminate in underwriting by deciding to underwrite certain people on the basis of things like race, creed, color, gender, national origin, or ancestry. Some states enlarge that list to include marital status, sexual orientation, and other common characteristics.
Posted: Tue Aug 07, 2012 05:44 pm Post Subject: insurance
my sister is 58 years old and has been turn down because of health reasons. Is there way she can get insurance at her age,,,,,she a diebetic and have hearth disease..she had a triple bypass in 1995, under doctors care.......and on medicine, diet and excise,,,,
Posted: Tue Aug 07, 2012 07:44 pm Post Subject:
There will always be an insurance company willing to take your risk in exchange for the right amount of money. Whether you can afford that or not is a different question.
By working with a local independent agent, you may disover that all is not lost.
Posted: Tue Sep 11, 2012 06:39 pm Post Subject: Benefit Update
I just received the same card today. I came online to see what I can find out for myself because I will trun 54 in a few weeks, and I,ve been getting notice,es from every coponney out thar. I,m like you, When i pay my money, I want to be sure I will be takeing good care of.
Posted: Mon Sep 17, 2012 03:42 pm Post Subject: new 2012 Benefit update for PA only
I am 80 and low income. What can I expect from the
2012 Benefit Update? I live in Pennsylvania
Posted: Wed Sep 19, 2012 12:22 pm Post Subject:
Nothing. The supposed "benefit" is bogus information. It's an ad for final expense life insurance, not health insurance. There are dozens of companies that have been offering this coverage for years -- it's nothing new or special. And it's expensive.
As far as health insurance is concerned, which should be a much more important consideration now than money to bury you when you're dead (save $100 per month and in less than 2 years you'll have enough saved for cremation services), all you have available is Original Medicare, Medicare Advantage, and Medicare Supplement insurance (as a privately-paid companion to Original Medicare). If you were not eligible at all for "premium-free" Medicare, paying a monthly premium for Medicare Parts A and B (that will be about $600 in 2013) would still be less expensive than any state-based plan for persons with preexisting health conditions
If you enroll in a Medicare Advantage HMO or PPO with drug plan benefits (an "MAPD" plan), you do not need to pay for, and cannot have, a Medicare Supplement insurance plan. And in most parts of Pennsylvania, there is little or no out-of-pocket cost for the MAPD plan itself.
Get the information you need DIRECTLY from Medicare at:
https://medicare.gov/find-a-plan/questions/home.aspx Just enter your ZIPCode and the other requested information on the next few pages, and you will obtain a list of all the plans available in your area.
For example, in Allegheny County (ZIP 15123), there are currently more than 35 available MAPD HMO and PPO plans, most with little or no out of pocket premiums and limited total out of pocket expenses for the year (copays for medical services and drugs, and any limited charges for hospitalization). Depending on the plan, you will have access to more health care benefits than Medicare Parts A and B offer. Your current physician may be a network provider in some or all of the plans.
This is currently, in my opinion, the most cost-effective way to obtain health care as an eligible senior citizen in America. You're already paying $96.40 for Medicare Part B each month as it is, so why pay anything more than that of you don't have to?
Open enrollment for Medicare Advantage (new enrollments or switching plans) will begin in mid-October. You will have until early-December to make a final decision (you can change your mind as many times as you like before the deadline), but if you want your MAPD plan to start on January 1, 2013, you have to make a decision before the deadline date, which is December 7 if I'm not mistaken.
Don't miss this opportunity! It will save you thousands of dollars in the event you need to be hospitalized, and will save you thousands of dollars more if you are currently paying premiums for a Medicare Supplement insurance plan on top of your Part B monthly premiums.
Posted: Wed Jul 31, 2013 12:23 am Post Subject: New 2013 Benefit Update For Texas Citizens
I received this same card and info in 2013 for texas citizens only ages 50-85. Special program will pay 100% of all funeral expenses not paid by government funds, up to $25,000 tax free for each texas citizen covered. I mailed may 25, 2013 and have nit heard back yet. I am curious?
Posted: Wed Jul 31, 2013 04:21 am Post Subject:
I hope you did not send them any money. If you did, then contact the Texas Department of Insurance.
Posted: Thu Aug 29, 2013 01:43 pm Post Subject: ...and the envelope please...hmm, no thanks
The company(s) that hide behind this mail box clearing house set up are at best high premium/low benefit outfits plying the medigap/funeral coverage/AD&D, etc. "insurance" waters. These are murky waters indeed, clouded by beaucoup fine print. And at worst it's the snail mail equivalent of phishing. Mine came as the medigap insurance variety - "You may be missing out on what you are entitled to receive." The preferred media appears to be the Tear-off-the-sides-slide-finger-under-flap envelope. I am surprised they didn't include some patriotic/government-looking logo somewhere. Tear off your name and toss in recycle bin.
Posted: Fri Sep 20, 2013 09:54 pm Post Subject: Same story different state
I live in NJ and received the same mail offer in post card form.
I was just curious to see what others had to say about this wonderful offer -- too good to be true -- so much so that it is a joke.
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