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One line summary:
Areivim USA is a dignified way to give צדקה. It is not Life Insurance and doesn't guarantee any sort of financial protection to its members. it is registered as a religious organization and as such isn't required to incur the additional cost of preparing and filing form 990 with the IRS.

http://www.areivim.info/rform.php

Eb228
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I spoke to Areivim at length as I sell life insurance and wanted to best advise ppl that had Areivim already and wanted to supplement it with LI.
I was told that it has never happened that Areivim declined to pay out based on someones assets or LI. It has happened that the family told them they don't need the money, but they never told the family no.
Simple reasoning is, they also think that 100K per yasom doesn't really cover it, the program just won't allow for a higher payout at $28/ monthly. So they encourage everyone to have LI as well to make sure kids are adequetly covered, and owning LI does not disqualify a payout [unless each kid will receive over a million dollars etc].



Quote
They are tax exempt. Click on the below IRS link and then download the first attachment. Then search "Areivim USA"

https://www.irs.gov/charities-non-profits/tax-exempt-organization-search-bulk-data-downloads


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

Areivim Terms and Conditions (emphasis added):
Quote
4) Areivim USA is not life insurance. Areivim USA has been established primarily as a charitable endeavor and its halachic status is like that of all tzedakah money collected from the public. In the event of a the passing of a member r”l, all contributions can be made with maaser money.

5) In the event of (G-d forbid) a large number of deaths among members (as a result of a war, an earthquake, etc.), Areivim USA reserves the right to consult with its Rabbinical Board on proper procedures.

6) Members have no rights to sue or submit legal claims against the decisions of Areivim USA or its Rabbinical Board, including for failure to initiate a collection. There are no oral agreements or other commitments between Areivim USA and its members, and no such oral agreements or commitments shall be given any legal effect.

« Last edited by ExGingi on May 30, 2021, 11:11:03 AM »

Poll

Do you have Areivim & Life Insurance? (NOTE: Areivim is not life insurance)

Yes
46 (68.7%)
Only Areivim
21 (31.3%)

Total Members Voted: 67

Author Topic: Areivim USA - Coronavirus  (Read 131239 times)

Offline liosac

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Re: Areivim USA - Coronavirus
« Reply #900 on: February 06, 2023, 04:04:27 PM »
It's hard to say "high prices" with a straight face for young and healthy folks. Most people in that vid look like they would pay less than $42 for $1m 20-year term, so whose prices are actually higher here?

For BOTH spouses? Really? Where can I sign up? The  Areivim fee covers both.

Offline S209

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Re: Areivim USA - Coronavirus
« Reply #901 on: February 06, 2023, 07:25:20 PM »
It's hard to say "high prices" with a straight face for young and healthy folks. Most people in that vid look like they would pay less than $42 for $1m 20-year term, so whose prices are actually higher here?
This is for both spouses and the ones you’re referring to are likely signing up for the equivalent of 30-40 year term.
Quote from: YitzyS
Quotes in a signature is annoying, as it comes across as an independent post.

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Re: Areivim USA - Coronavirus
« Reply #902 on: February 06, 2023, 07:55:40 PM »
This is for both spouses and the ones you’re referring to are likely signing up for the equivalent of 30-40 year term.
But it is not a locked price
Feelings don't care about your facts

Offline AsherO

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Re: Areivim USA - Coronavirus
« Reply #903 on: February 06, 2023, 08:00:55 PM »
But it is not a locked price

Or any guarantee that Arevim will be solvent in 40 years. Not that insurance companies are guaranteed, but they’re a highly regulated industry.
100% of Likes will be donated to support our brothers and sisters in Eretz Yisrael

Offline yesitsme

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Re: Areivim USA - Coronavirus
« Reply #904 on: February 06, 2023, 08:07:49 PM »
I don't think I've ever had a quiet month since I joined years ago. Unfortunately, there were needs pretty much every month or spillovers from previous months.
thats because you didn't check your statement, its not that hard to do
["-"]

Offline yos9694

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Re: Areivim USA - Coronavirus
« Reply #905 on: February 07, 2023, 04:42:57 AM »
Or any guarantee that Arevim will be solvent in 40 years. Not that insurance companies are guaranteed, but they’re a highly regulated industry.

They are guaranteed
https://www.investopedia.com/terms/s/stateguarantyfund.asp

Offline imayid2

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Re: Areivim USA - Coronavirus
« Reply #906 on: February 07, 2023, 01:51:46 PM »
This explains why new members are so important right now.
The current campaign seems to have been initiated by askanim who are involved when areivim isn’t.

Offline imayid2

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Re: Areivim USA - Coronavirus
« Reply #907 on: February 07, 2023, 09:00:38 PM »
Or any guarantee that Arevim will be solvent in 40 years. Not that insurance companies are guaranteed, but they’re a highly regulated industry.
Areivim only provides benefits for unmarried children, so that timeframe shouldn’t really be a factor in signing up.

Offline yos9694

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Re: Areivim USA - Coronavirus
« Reply #908 on: February 07, 2023, 09:04:47 PM »
This is for both spouses and the ones you’re referring to are likely signing up for the equivalent of 30-40 year term.

Areivim's premiums are likely to keep going up over time, real insurance can have a guaranteed non-increasing premium.

The death benefit in areivim varies from person to person, so the net cost comparison against real life insurance depends on family size and ages

Offline liosac

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Re: Areivim USA - Coronavirus
« Reply #909 on: February 07, 2023, 10:49:29 PM »
Areivim's premiums are likely to keep going up over time, real insurance can have a guaranteed non-increasing premium.

The death benefit in areivim varies from person to person, so the net cost comparison against real life insurance depends on family size and ages
There’s going to be a continuum going from young healthy couple with no children to older couple in less than perfect health with lots of unmarried kids.

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Re: Areivim USA - Coronavirus
« Reply #910 on: February 07, 2023, 10:50:55 PM »
There’s going to be a continuum going from young healthy couple with no children to older couple in less than perfect health with lots of unmarried kids.

Which demographic do you think is most represented in their membership rolls?
Failing at maintaining Lurker status.

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Re: Areivim USA - Coronavirus
« Reply #911 on: February 07, 2023, 10:51:04 PM »
Areivim's premiums are likely to keep going up over time
Together with the benefit amount

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Re: Areivim USA - Coronavirus
« Reply #912 on: February 07, 2023, 11:10:29 PM »
Which demographic do you think is most represented in their membership rolls?
Right now probably late 30s to beginning to marry off children
Feelings don't care about your facts

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Re: Areivim USA - Coronavirus
« Reply #913 on: February 07, 2023, 11:19:59 PM »
Right now probably late 30s to beginning to marry off children

IOW, those with the highest costs should G-d forbid a payout become necessary. Adds to the concerns of those questioning sustainability and/or questioning the rate of increasing membership fees.
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Re: Areivim USA - Coronavirus
« Reply #914 on: February 07, 2023, 11:54:51 PM »
IOW, those with the highest costs should G-d forbid a payout become necessary. Adds to the concerns of those questioning sustainability and/or questioning the rate of increasing membership fees.

It is part of why it needs infusions of young blood regularly to dilute the overweight with high blood pressure etc and lots of kids demographic
Feelings don't care about your facts

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Re: Areivim USA - Coronavirus
« Reply #915 on: February 08, 2023, 12:20:45 AM »
It is part of why it needs infusions of young blood regularly to dilute the overweight with high blood pressure etc and lots of kids demographic
You’re implying that that’s a reason for this current campaign. However that is not the case, and the drive is to get everyone from all ages to sign up.

The campaign is being spearheaded and funded by unaffiliated people.
The current campaign seems to have been initiated by askanim who are involved when areivim isn’t.

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Re: Areivim USA - Coronavirus
« Reply #916 on: February 08, 2023, 12:23:14 AM »
You’re implying that that’s a reason for this current campaign. However that is not the case, and the drive is to get everyone from all ages to sign up.

The campaign is being spearheaded and funded by unaffiliated people.
I did not mean to imply that about this individual campaign. I am all for people signing up and have some so myself
Feelings don't care about your facts

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Re: Areivim USA - Coronavirus
« Reply #917 on: February 08, 2023, 12:26:25 AM »
You’re implying that that’s a reason for this current campaign.

His comment is on what it needs to do in order to remain viable in general. Campaigns are constantly happening. The current campaign is just a byproduct of recent strain on the organization caused by root issues being discussed here (and Covid...).
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Offline imayid2

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Re: Areivim USA - Coronavirus
« Reply #918 on: February 08, 2023, 12:29:28 AM »
The current campaign is just a byproduct of recent strain on the organization caused by root issues being discussed here (and Covid...).
Not sure what you mean that it’s a byproduct of strain. The organizers and initiators are unaffiliated.

Offline aygart

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Re: Areivim USA - Coronavirus
« Reply #919 on: February 08, 2023, 12:35:24 AM »
Not sure what you mean that it’s a byproduct of strain. The organizers and initiators are unaffiliated.
I know they were involved in getting it to happen but is it really entirely them?
Feelings don't care about your facts