Areivim USA - Coronavirus

[David61]

You are assuming they are living until the end.  If they die two years in then your calculations are way off.  Invested $2k and got $1mm is a pretty good return...

You are assuming they die. If they live till the end of their policy (e.g. till 65, which is WAY more likely), it's a miserable investment. They gave an insurance company $500K, and got nothing from it.

Which is why balance is required in how much to coverage to buy. Insure yourself against catastrophic loss. Not more.

[skyguy918]

When dealing with a widow and orphans, one wants to be able to provide a risk-free and worry-free cash flow. Given the current interest rate environment, what would $1,000,000 produce? Oh, and by the way, whatever it produces is taxed as ordinary income. Do we know how long that money needs to last? Do we know what curveballs will be thrown at the survivors? Do we know what it would take for them not to be impoverished?

As was pointed out, looking only at what a LI payout would produce, and ignoring the principal of the payout itself, will lead to wildly over-insuring. Especially if you are truly viewing the policy as replacing the earning potential of the insured, which typically would only last until expected retirement.

[yesitsme]

Why do they store the CVV isn't it against PCI standards?

[AsherO]

Why do they store the CVV isn't it against PCI standards?

Yet another indication they’re run like a heimishe melave malka operation and should not be trusted.

[Ergel]

Why do they store the CVV isn't it against PCI standards?

Do they have PCI DSS Certification?

[ckmk47]

I am generally not a big fan of long-term level term insurance (except when it's part of a larger plan and not the only coverage in place).

After his 20 year level plan is over,  he likely still needs insurance. (He may still have elementary school age children, he may have not finished with all his weddings and college tuition.)  But he's older and perhaps has some medical issues now, so his premiums will be MUCH higher.
Shouldn't  his basic LI policy be 30 year level term?  And add some additional insurance if he needs more later.

[yesitsme]

Registration is open

[raftamaf]

This (I have been to a few Areivim meeting with these Rabbonim)

Harav Elya Brudny, Rosh Yeshivas Mir Flatbush;
Harav Yitzchok Isaac Eichenstein, Galanter Rav;
Harav Doniel Geldzahler, Rosh Yeshivas Ohr Yisrael;
Harav Binyomin Zev Landau, Tosher Dayan of Boro Park;
Harav Henoch Shachar, Rav of Klal Ohr Tuvia in Lakewood

Just to confirm, I did just call R' Shachar to confirm that Areivim USA is a legitimate organization, citing the lack of any accountable party on their website. He responded "It is very legitimate".

[Mordyk]

Just to confirm, I did just call R' Shachar to confirm that Areivim USA is a legitimate organization, citing the lack of any accountable party on their website. He responded "It is very legitimate".

What's your point?

[yfr bachur]

Just to confirm, I did just call R' Shachar to confirm that Areivim USA is a legitimate organization, citing the lack of any accountable party on their website. He responded "It is very legitimate".

legitimately what??

As far as I remember, no one on this thread really questioned whether the organizers hearts were in the right place, rather if their heads were.

[AsherO]

legitimately what??

As far as I remember, no one on this thread really questioned whether the organizers hearts were in the right place, rather if their heads were.

+1

Aside for Rabbonim, do they have a list of reputable financial professionals endorsing them?

[Yosel]

+1

Aside for Rabbonim, do they have a list of reputable financial professionals endorsing them?

NO, nor did they ever pay a ALMANA directly in cash..........................

[JACKBLUE]

NO, nor did they ever pay a ALMANA directly in cash..........................

BS. I know of a handful of Almunas that got their money within 2-3 weeks of losing their husbands.

[JACKBLUE]

+1

Aside for Rabbonim, do they have a list of reputable financial professionals endorsing them?

They have a board of about 10 businessmen that make decisions with the Rabanim.

[JMHO]

They have a board of about 10 businessmen that make decisions with the Rabanim.

Names?

[JACKBLUE]

Names?

I don’t remember the list of names, but you can call them and they’ll tell you, what I do remember is that Mr Fishman that runs Kupat Hair and Ezras Yisroel is the 1 who runs Areivim as well. I also remember the name Meir Lebowitz.

[AsherO]

NO, nor did they ever pay a ALMANA directly in cash..........................

What then?

[AsherO]

They have a board of about 10 businessmen that make decisions with the Rabanim.

Where’s that list of businessmen?

What about showing the books to independent 3rd parties with financial competence?

[PlatinumGuy]

I'm not insinuating anything about a specific org, but in Israel opaque organizations have had problems with loans and investments to related parties. There is a lot of grey area between stealing and proper management.

Sunlight is the best detergent.

[AsherO]

I'm not insinuating anything about a specific org, but in Israel opaque organizations have had problems with loans and investments to related parties. There is a lot of grey area between stealing and proper management.

Sunlight is the best detergent.

If their financials aren’t sustainable then you don’t need any embezzlement for their organization to not be up to snuff.