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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
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 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
49 (70%)
Only Areivim
21 (30%)

Total Members Voted: 70

Author Topic: Areivim USA - Coronavirus  (Read 140675 times)

Online aygart

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Re: Areivim USA - Coronavirus
« Reply #500 on: June 12, 2020, 12:05:36 AM »
that what got me looking at the numbers but then I thought to my self what is it different then a charity campaign
names of people is public info I can give it to you in phone books if you wish,
I have seen much juicier websites with much more info of our community
Irrelevant. Just see how many choose to have the site must them as anonymous.
Feelings don't care about your facts

Offline yesitsme

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Re: Areivim USA - Coronavirus
« Reply #501 on: June 12, 2020, 12:07:33 AM »
Irrelevant. Just see how many choose to have the site must them as anonymous.
Please FIFY
fill in the blanks

point being while it might not be convenient there is nothing harmful with the info
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Offline Baruch

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Re: Areivim USA - Coronavirus
« Reply #502 on: June 12, 2020, 12:25:02 AM »
How is the lump sum $450, if it's supposed to be a multiple of $7?

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Re: Areivim USA - Coronavirus
« Reply #503 on: June 12, 2020, 12:34:18 AM »
How is the lump sum $450, if it's supposed to be a multiple of $7?
There are 2 numbers that are fixed
they give 100K per yosom regardless of how many members they have #model2
they bill you in $7 increments to make life simpler but they actually bill less then $7 per yosom since they have more then 14285 members

so if you take 100,000/25269 it turns out you pay a little less then $4 per yosom
$450 would be for ~110 yesomim

if they would bill 110*7 you would pay now ~$770
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Offline Baruch

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Re: Areivim USA - Coronavirus
« Reply #504 on: June 12, 2020, 12:40:10 AM »
There are 2 numbers that are fixed
they give 100K per yosom regardless of how many members they have #model2
they bill you in $7 increments to make life simpler but they actually bill less then $7 per yosom since they have more then 14285 members

so if you take 100,000/25269 it turns out you pay a little less then $4 per yosom
$450 would be for ~110 yesomim

if they would bill 110*7 you would pay now ~$770
Thx for explaining.
Btw, https://areivimusa.com/?account=73000 is empty, and there may be more.

Offline yesitsme

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Re: Areivim USA - Coronavirus
« Reply #505 on: June 12, 2020, 12:41:32 AM »
There are 2 numbers that are fixed
they give 100K per yosom regardless of how many members they have #model2
they bill you in $7 increments to make life simpler but they actually bill less then $7 per yosom since they have more then 14285 members

so if you take 100,000/25269 it turns out you pay a little less then $4 per yosom
$450 would be for ~110 yesomim

if they would bill 110*7 you would pay now ~$770
oops the website says 96 Yesomim
so lets try
25269*450=11371050
11371050/96=118448.4375
so we have a surplus of 18k, I guess to develop the website who knows
or maybe they but it in the slush account on standby
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Offline yesitsme

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Re: Areivim USA - Coronavirus
« Reply #506 on: June 12, 2020, 12:42:04 AM »
Thx for explaining.
Btw, https://areivimusa.com/?account=73000 is empty, and there may be more.
explains
oops the website says 96 Yesomim
so lets try
25269*450=11371050
11371050/96=118448.4375
so we have a surplus of 18k, I guess to develop the website who knows
or maybe they but it in the slush account on standby

if there are ~40 empty accounts your almost there which is very possible
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Offline Baruch

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Re: Areivim USA - Coronavirus
« Reply #507 on: June 12, 2020, 12:43:26 AM »
oops the website says 96 Yesomim
so lets try
25269*450=11371050
11371050/96=118448.4375
so we have a surplus of 18k, I guess to develop the website who knows
or maybe they but it in the slush account on standby
Alman/Almanos with 3 kids also get another 100k

Offline Baruch

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Re: Areivim USA - Coronavirus
« Reply #508 on: June 12, 2020, 12:44:20 AM »
Pls someone that understands tech let them know that there's a major privacy breach

Offline yesitsme

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Re: Areivim USA - Coronavirus
« Reply #509 on: June 12, 2020, 12:44:42 AM »
Alman/Almanos with 3 kids also get another 100k
do they bill for them separate?
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Re: Areivim USA - Coronavirus
« Reply #510 on: June 12, 2020, 12:45:23 AM »
Pls someone that understands tech let them know that there's a major privacy breach
I don't see it as major
https://info718.com/residential

http://smartlistlocal.com/online/whitepages

Offline Baruch

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Re: Areivim USA - Coronavirus
« Reply #511 on: June 12, 2020, 12:47:20 AM »
do they bill for them separate?
If you have 3 kids (maybe 2) the spouse has 100k coverage. It's billed by each death normally.

Offline Baruch

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Re: Areivim USA - Coronavirus
« Reply #512 on: June 12, 2020, 12:48:28 AM »
I dont see it as major
I hear. You have to be bored to go look at the names. And you'll walk away knowing nothing.

Offline moko

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Re: Areivim USA - Coronavirus
« Reply #513 on: June 12, 2020, 06:01:29 AM »
Price and benefit comp for a 30 year old signing up for $1MM 30 year term vs Areivim?
I pay $118 monthly for 1million 30yr term 34 yrs old

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Re: Areivim USA - Coronavirus
« Reply #514 on: June 12, 2020, 09:59:15 AM »
I hear. You have to be bored to go look at the names. And you'll walk away knowing nothing.

I asked someone involved. He said he knows and doesn't see this as an issue. all of a name without any other info (he may be wrong)

Min = https://areivimusa.com/?account=69842
Max = https://areivimusa.com/?account=95111

25269 Members
 
25269*7 =$176,883

Many profiles are not active members

Online mgarfin

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Re: Areivim USA - Coronavirus
« Reply #515 on: June 12, 2020, 10:02:59 AM »
As a side note, Areivim is not currently accepting new members.
They received a few hundred new applications.
Their board fells that during a pandemic is not the right time to accept new members.

Im not sure the exact logic, but maybe they fell they will attract a higher percentage of ppl not eligible for li insurance   

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Re: Areivim USA - Coronavirus
« Reply #516 on: June 12, 2020, 10:06:29 AM »
As a side note, Areivim is not currently accepting new members.
They received a few hundred new applications.
Their board fells that during a pandemic is not the right time to accept new members.

Im not sure the exact logic, but maybe they fell they will attract a higher percentage of ppl not eligible for li insurance

Not to put words in their mouth, but a possible good reason for turning them away is that if someone is motivated by this pandemic to get insurance, then they should use that inspiration to go get REAL insurance.

Offline JACKBLUE

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Re: Areivim USA - Coronavirus
« Reply #517 on: June 12, 2020, 10:27:00 AM »
As a side note, Areivim is not currently accepting new members.
They received a few hundred new applications.
Their board fells that during a pandemic is not the right time to accept new members.

Im not sure the exact logic, but maybe they fell they will attract a higher percentage of ppl not eligible for li insurance
They didn't say they're not accepting, they are just not processing the applications because they were busy with the Covid situation, i believe they will process it once they have a chance, and like you said they got a few hundred applications in just a few weeks so they didn't have time to get it done.

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Re: Areivim USA - Coronavirus
« Reply #518 on: June 12, 2020, 10:37:54 AM »
They didn't say they're not accepting, they are just not processing the applications because they were busy with the Covid situation, i believe they will process it once they have a chance, and like you said they got a few hundred applications in just a few weeks so they didn't have time to get it done.

My understanding was different, it's not because they are busy

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Re: Areivim USA - Coronavirus
« Reply #519 on: June 14, 2020, 12:11:06 AM »
My understanding was different, it's not because they are busy

Of course they are not accepting. The risks are much higher now. The premiums this year are effectively double the max level previously agreed to, and there could Ch'v be a second wave. They certainly don't want short term members looking for coverage only during the pandemic.