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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
Quote
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 rĒl, 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
49 (70%)
Only Areivim
21 (30%)

Total Members Voted: 70

Author Topic: Areivim USA - Coronavirus  (Read 155824 times)

Offline JACKBLUE

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Re: Areivim USA - Coronavirus
« Reply #320 on: May 03, 2020, 10:50:40 AM »
How do you spell PONZI SCHEME?
I donít care what their flyer says. I have been a member for a year now and
Why are you even a member??😂

Offline ExGingi

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Re: Areivim USA - Coronavirus
« Reply #321 on: May 03, 2020, 10:58:04 AM »
of course if somone has cancer he canít sign up, but letís say a diabetic are some other health issues you could sign up. I know this because my friend is diabetic and he called them to ask if he can sign up and the answer was YES.

Did they ask him what his A1c was?
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline S209

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Re: Areivim USA - Coronavirus
« Reply #322 on: May 03, 2020, 11:00:54 AM »
Did they ask him what his A1c was?
That can change in 6 weeks
Quote from: YitzyS
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Offline avromie7

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Re: Areivim USA - Coronavirus
« Reply #323 on: May 03, 2020, 11:01:24 AM »
Upthread people mentioned a second wave as a possibility. Even if there are no more spikes in deaths in the next 4 years, I signed up in May 2019 and the only month since in which I have not experience a collection for since is August 2019. That would leave them with $28 a year extra, thus taking nearly 15 years to collect the difference.

Regardless, I question your math. $56 a year to get to $400 would be more than 7 years.
I'm a numbers guy, so I'm not sure how I messed the math up so badly.
I got this email from them last Rosh Hashana. Didn't crunch the numbers, but it may be helpful for those trying to do so.
According to these numbers, it would take just over 5 years to catch up. Considering this is a once in a lifetime situation, it should be very doable. I think they should come up with a system to build up a rainy day fund, by adding a small fee like an extra $1 per month. It can also help with the current backlog.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline S209

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Re: Areivim USA - Coronavirus
« Reply #324 on: May 03, 2020, 11:02:40 AM »
Why are you even a member??😂
Because itís Tzedaka, with a life insurance benefit? Where have you seen me disparage the idea? I love it. I just think they need to address the crisis presented by the pandemic properly or they will dissolve.
Iím a member for 7 years in 2019 they charged me 10 months, but the last 6 years IINM the max was 8 months.

Youíre definitely mistaken, according to the people Iíve spoken to.
Quote from: YitzyS
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Offline aygart

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Re: Areivim USA - Coronavirus
« Reply #325 on: May 03, 2020, 11:04:25 AM »
of course if somone has cancer he canít sign up, but letís say a diabetic are some other health issues you could sign up. I know this because my friend is diabetic and he called them to ask if he can sign up and the answer was YES.
Of everything in this thread this is the biggest item showing how there is no way in the world this system can possibly work over the long term.
Feelings don't care about your facts

Offline JACKBLUE

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Re: Areivim USA - Coronavirus
« Reply #326 on: May 03, 2020, 11:04:51 AM »
Youíre definitely mistaken, according to the people Iíve spoken to.
I will look up my CC charges soon and update you. Could be Iím wrong.

Offline aygart

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Re: Areivim USA - Coronavirus
« Reply #327 on: May 03, 2020, 11:06:17 AM »
I'm a numbers guy, so I'm not sure how I messed the math up so badly.  According to these numbers, it would take just over 5 years to catch up. Considering this is a once in a lifetime situation, it should be very doable. I think they should come up with a system to build up a rainy day fund, by adding a small fee like an extra $1 per month. It can also help with the current backlog.
There is a lot of very fuzzy math which I brought up earlier. Their liabilities are growing much faster than their income. This is without the pandemic.
Feelings don't care about your facts

Offline S209

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Re: Areivim USA - Coronavirus
« Reply #328 on: May 03, 2020, 11:06:59 AM »
I'm a numbers guy, so I'm not sure how I messed the math up so badly.  According to these numbers, it would take just over 5 years to catch up. Considering this is a once in a lifetime situation, it should be very doable. I think they should come up with a system to build up a rainy day fund, by adding a small fee like an extra $1 per month. It can also help with the current backlog.
That might be an idea. Black swan events do happen, perhaps not to this level but there are mass casualty events from time to time. They need to have a plan to address this and the current crises. Keep in mind they will be behind for quite a while as it is. And raising the price may diminish their pool, thus starting the death spiral.
Quote from: YitzyS
Quotes in a signature is annoying, as it comes across as an independent post.

Offline S209

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Re: Areivim USA - Coronavirus
« Reply #329 on: May 03, 2020, 11:07:41 AM »
I will look up my CC charges soon and update you. Could be Iím wrong.
Just check your emails for areivim, they email before every charge
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Offline aygart

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Re: Areivim USA - Coronavirus
« Reply #330 on: May 03, 2020, 11:08:18 AM »
Got this from Areivim last year. Pretty impressive roster. Only concern is whether they'd probably need an actuary on board.
Wouldn't an actuarial team be the most important in keeping it sustainable?
Feelings don't care about your facts

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Re: Areivim USA - Coronavirus
« Reply #331 on: May 03, 2020, 11:09:07 AM »
That might be an idea. Black swan events do happen, perhaps not to this level but there are mass casualty events from time to time. They need to have a plan to address this and the current crises. Keep in mind they will be behind for quite a while as it is. And raising the price may diminish their pool, thus starting the death spiral.
I think something like $1/month rainy day surcharge shouldn't affect membership.
I wonder what people who type "u" instead of "you" do with all their free time.

Offline aygart

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Re: Areivim USA - Coronavirus
« Reply #332 on: May 03, 2020, 11:10:02 AM »
That might be an idea. Black swan events do happen, perhaps not to this level but there are mass casualty events from time to time. They need to have a plan to address this and the current crises. Keep in mind they will be behind for quite a while as it is. And raising the price may diminish their pool, thus starting the death spiral.
Is this such a black Swan event among people with unmarried children? 14 is high but shouldn't be causing such stress on a system.
Feelings don't care about your facts

Offline Shmulie

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Re: Areivim USA - Coronavirus
« Reply #333 on: May 03, 2020, 11:10:26 AM »
Premiums arenít going up. They wonít charge a penny more then $28 max a month.
Obviously some people are willing to pay now $400 to be able to collect the money faster.

I'm a numbers guy, so I'm not sure how I messed the math up so badly.  According to these numbers, it would take just over 5 years to catch up. Considering this is a once in a lifetime situation, it should be very doable.

So does that mean that anyone signing up now is automatically signing up for $28 a month for the next 5 years (probably much longer)?

---------------------------------

What is the 100k per child supposed to cover? Just the wedding and related expenses? If so 100k is way more than needed (see this board https://forums.dansdeals.com/index.php?topic=115607.0)
If it's supposed to help cover raising the child from childhood till marriage then it is definitely not enough.

Offline avromie7

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Re: Areivim USA - Coronavirus
« Reply #334 on: May 03, 2020, 11:12:42 AM »
There is a lot of very fuzzy math which I brought up earlier. Their liabilities are growing much faster than their income. This is without the pandemic.
I'm not understanding why liabilities are growing faster, when they started there were many people who signed up with a lot of kids, I dont think anything is changing. Why do you think the makeup of the pool is different than it was 10 years ago?
I wonder what people who type "u" instead of "you" do with all their free time.

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Re: Areivim USA - Coronavirus
« Reply #335 on: May 03, 2020, 11:14:41 AM »
I'm not understanding why liabilities are growing faster, when they started there were many people who signed up with a lot of kids, I dont think anything is changing. Why do you think the makeup of the pool is different than it was 10 years ago?
What is higher, the new sign up rate or the birth rate of membership?
Feelings don't care about your facts

Offline Lurker

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Re: Areivim USA - Coronavirus
« Reply #336 on: May 03, 2020, 11:14:56 AM »
I'm not understanding why liabilities are growing faster, when they started there were many people who signed up with a lot of kids, I dont think anything is changing. Why do you think the makeup of the pool is different than it was 10 years ago?

Maybe because the people they signed up 10 years ago are higher risk now than before and not enough of them have passed through to the stage where they won't need to be paid out? It would take a full generation for the risk to level off.
Failing at maintaining Lurker status.

Offline avromie7

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Re: Areivim USA - Coronavirus
« Reply #337 on: May 03, 2020, 11:15:28 AM »
So does that mean that anyone signing up now is automatically signing up for $28 a month for the next 5 years (probably much longer)?
Good question, maybe they would need to have the regular collections, and whenever they're is "an open month" they charge everyone who was a member prior to this event.
I wonder what people who type "u" instead of "you" do with all their free time.

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Re: Areivim USA - Coronavirus
« Reply #338 on: May 03, 2020, 11:17:53 AM »
What is higher, the new sign up rate or the birth rate of membership?
You also need to factor in the rate of members children getting married
Maybe because the people they signed up 10 years ago are higher risk now than before and not enough of them have passed through to the stage where they won't need to be paid out? It would take a full generation for the risk to level off.
maybe higher risk of death but payout would be lower because they married off half of everyone children.
I wonder what people who type "u" instead of "you" do with all their free time.

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Re: Areivim USA - Coronavirus
« Reply #339 on: May 03, 2020, 11:19:21 AM »
You also need to factor in the rate of members children getting married maybe higher risk of death but payout would be lower because they married off half of everyone children.

I think you'll find that the amount of new children those members had roughly equals out the ones they married off, yet every year represents slightly higher risk per member than the previous year.
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