American Legion member on Bloomberg just announced the government paid Prudential to operate the death benefits separately and then these greedy bast*rds held the money on high risk returns and only paid families .5%! Now there greedy bast*rds are saying they lost money. How could they lose when they got paid separately and then only gave families .5% return?
Oh pleaae, they are put into higher interest bearing accounts and the courts many years ago sided with all insurance companies. Do your homework on this topic a d stop showing us how ignorant u are. I am a disabled Veteran. Why dont you ask why Mr. Barrack why disabled Vets have not had a COLA in 2 years; the 1st so called president to do this!
I agree fully on that one.Being the Widow of a Disabled Vet who died Agent Orange connected Death.I know where you are coming from.I hope this will change in the Future .He too would have the possion of sitting where he is if it wasn't for a VET .
fwiw- for several years our family has boycotted buffy products, even our son who was offered geico knows of buffy's history and chose to go with other car insurance.
geico is the most common insurance offered to soldiers. geico is buffet-no thanks,, we are true americans, he can take his socialist/communist butt somewhere else.
Actually, "paid up insurance" is not a name of any policy. It is the premium paying status of any insurance that has been "paid up". For example, any whole life policy can be made reduced paid up by using the cash values. Or a limited payment life policy such as L-65 will be paid up at the specified age. Or other reasons.
You mentioned in your post to eagle that you had a family policy.
So, you may have a paid up family policy. Quite honestly, I don't recall PRU selling Family policies recently, but I could be wrong. PRU does sell Last Survivor policies, but they do not "pay out" until the second insured dies. These are primarily for estate planning purposes.
PRU pays interest on accumulated dividends or on delayed claims.
Life Insurance Companies are prohibited from having products that are similar & compete with banks such as interest bearing accounts.
So you may be confusing dividends for interest or are getting interest on accumulated dividends.
Its called ..a Paid up Insurance .At least that is what Information was given to me .It could have been called what you have in your Post I don't know.
I do know it does give Interest..Believe me I don't Post something like I have here unless that I experienced it myself.
Sorry I didn't read your response to eagle.
Here's a definition of "family policy":
"Contract providing whole life insurance on the father and term insurance on the mother and all children, including newborns after reaching a stated age, usually 15 days. Children, upon reaching the age of majority, have the right to convert their insurance to a permanent policy up to the amount of term coverage without having to show evidence of insurability (take a physical examination). The premium is the same regardless of the number of children covered."
Doesn't quite sound like what you have. Actually what you described sounds more like a Survivorship Life Insurance Policy.
Well you've caught my curiosity. I too have worked for PRU for many years and am unfamiliar with an "interest paying" policy.
So since you have one may be you can provide some specifics so we can look it up.
Is your policy a term, whole life or endowment? What is it called? ie, L-85, etc.
Since you claim it gives "interest" what is the % of interest paid and what is it paid on; interest on the face amount? the cash value? the premiums paid? etc.?
Lastly when you say "can be paid out at 62", what is being paid out? The face amount? The cash value? The premiums paid with interest? or something else?
If you are refering to my post which I think you do .No I am not negative at all on Pru.
My comment was to say it wouldn't be the first time Soldiers where used to make Money on . I would however like to clarify what I wrote below .The Poster that called me so lovingly stupid and Dumbo and claimed to have worked for Pru for 30 Years, I guess has never heard of a Family Policy .With a Family Policy when the main Holder of the Policy passes the Spouses continues .That Life Insurance acrues Interest and it is addet on to the Principal of the Surviving Spouses Policy and can be paid out at age 60+ ...I thank you for wanting to help .