Topic Wiki

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 rl, 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 05, 2020, 09:33:18 PM »

Poll

Do you have Areivim & Life Insurance?

Yes
27 (69.2%)
Only Areivim
12 (30.8%)

Total Members Voted: 39

Author Topic: Areivim USA - Coronavirus  (Read 18284 times)

Offline yesitsme

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Dec 2014
  • Posts: 2501
  • Total likes: 498
  • DansDeals.com Hat Tips 4
  • Gender: Male
    • View Profile
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

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jan 2013
  • Posts: 2566
  • Total likes: 130
  • DansDeals.com Hat Tips 2
    • View Profile
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

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jan 2013
  • Posts: 2566
  • Total likes: 130
  • DansDeals.com Hat Tips 2
    • View Profile
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.

Online moko

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jul 2011
  • Posts: 3054
  • Total likes: 276
  • DansDeals.com Hat Tips 1
    • View Profile
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
Using your g-d given right of stupidity is an option, not a requirement. Please use sparingly.

Offline mgarfin

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Dec 2012
  • Posts: 2148
  • Total likes: 147
  • DansDeals.com Hat Tips 2
    • View Profile
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

Offline mgarfin

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Dec 2012
  • Posts: 2148
  • Total likes: 147
  • DansDeals.com Hat Tips 2
    • View Profile
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   

Online yos9694

  • Dansdeals Platinum Elite + Lifetime Gold Elite
  • ******
  • Join Date: Aug 2012
  • Posts: 903
  • Total likes: 92
  • DansDeals.com Hat Tips 6
  • Gender: Male
    • View Profile
  • Location: Not Brooklyn
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

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Jan 2014
  • Posts: 1774
  • Total likes: 160
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: USA
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.

Offline mgarfin

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Dec 2012
  • Posts: 2148
  • Total likes: 147
  • DansDeals.com Hat Tips 2
    • View Profile
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

Offline David61

  • Dansdeals Gold Elite
  • ***
  • Join Date: Jan 2011
  • Posts: 151
  • Total likes: 40
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NYC
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.

Offline David61

  • Dansdeals Gold Elite
  • ***
  • Join Date: Jan 2011
  • Posts: 151
  • Total likes: 40
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NYC
Re: Areivim USA - Coronavirus
« Reply #520 on: June 14, 2020, 12:14:20 AM »
I pay $118 monthly for 1million 30yr term 34 yrs old

20 year term, for 1 million, for same age, is less than half of that.

Attached are quotes for a 40 year old

« Last Edit: June 14, 2020, 12:19:22 AM by David61 »

Offline yungermanchik

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Nov 2018
  • Posts: 605
  • Total likes: 306
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Previous Signatures: If you chapped hana'ah from a post, like it; You think you know the answers and things are the way they seem.. it just ain't so -The Rebbe from Lublin-
Re: Areivim USA - Coronavirus
« Reply #521 on: June 14, 2020, 12:20:19 AM »
+1
But I just signed up because of @YitzyS and @Chapshnell. Tizku L'mitzvos
I applied back on april 30. They called me on may 27 for my cc info and said they would email me before billing. I haven't gotten an email yet. So, it seems to me like:
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.
Small people talk about other people.
Average people talk about things
BIG PEOPLE TALK ABOUT IDEAS.

Offline ExGingi

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Nov 2015
  • Posts: 8635
  • Total likes: 2161
  • DansDeals.com Hat Tips 12
    • View Profile
  • Location: 770
Re: Areivim USA - Coronavirus
« Reply #522 on: June 14, 2020, 12:22:31 AM »
20 year term, for 1 million, for same age, is less than half of that.

Attached are quotes for a 40 year old

Not for the same underwriting class.

And honestly, I'm not sure where the fixation with $1MM of coverage comes from. For most people I know that's simply underinsuring them.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Online moko

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jul 2011
  • Posts: 3054
  • Total likes: 276
  • DansDeals.com Hat Tips 1
    • View Profile
Re: Areivim USA - Coronavirus
« Reply #523 on: June 14, 2020, 12:32:02 AM »
20 year term, for 1 million, for same age, is less than half of that.

Attached are quotes for a 40 year old
I'm in the standard category :)
Using your g-d given right of stupidity is an option, not a requirement. Please use sparingly.

Offline David61

  • Dansdeals Gold Elite
  • ***
  • Join Date: Jan 2011
  • Posts: 151
  • Total likes: 40
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: NYC
Re: Areivim USA - Coronavirus
« Reply #524 on: June 14, 2020, 12:38:45 AM »
Not for the same underwriting class.

And honestly, I'm not sure where the fixation with $1MM of coverage comes from. For most people I know that's simply underinsuring them.

Well Areivim is even more underinsured (unless a person had more than 9 children) in which case they are certainly underinsured with 1 million of coverage.

Insurance agents love to sell bigger policies, but the point of life insurance (from a financial planning perspective, as I see it) is not to make the family whole from the financial impact, just to limit the downside, so they are not impoverished. After all. the premiums are expensive and priced to be in the odds of the insurance company (so life insurance is a bad bet to make from a purely financial perspective), except that it's a cost too high to bear, so one needs to make the bet (policy) for protection.

Getting more than $1 mil., becomes quite expensive, especially if insuring both spouses, and when considering cost of other insurances (homeowners and car). That can easily run $5K+/year combined, just on insurance.