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Show Page 5 THE MARCH 29,2007 GARFIELD COUNTY DECEPTION IN THE BURIAL INSURANCE GAME AG MARKET NEWS THE ELDERLAW FORUM Professor Michael Myers I Sign up for South Central Communications cellular service and get FREE today! F A F F * flCC calling between South Central cellular customers. calling from any South Central cellular phone to any South Central landline phone. nationwide long distance calling. simultaneous phone ring. Ring any South Central landline phone and any South Central cellular phono at tbt unit timil #• i ' ** ' ' Ca Soirth i toctay " w vWt Central an ofCommunications our South Central GOMMUNKAflONS * * (877)688-0828 Question: When is burial insurance not really burial insurance and pays nothing upon death? Answer: When it is a "decreasing term" policy. Who would buy such a policy? The nai've, the vulnerable, and often, the elderly who wish to spare their family the expense of a funeral. After all, that's what a responsible person does—prepays the cost of being placed in the ground or burned in a very hot furnace. Insurance marketers know that lowincome people who cannot afford life insurance will nevertheless buy a burial policy as a matter of pride, as a way to secure a dignified exit from a world in which they might not have had a conspicuous presence. Today the cost for a basic, no-frills funeral is in the $8,000-to-$ 12,000 range. Accordingly, the 82-year-old widow who called the senior legal helpline assumed she was being prudent when buying a $10,000 burial policy in 1984, shortly after her husband died after a year-long struggle with cancer. "I guess I was vulnerable at the time," she said. For 22 years she unfailingly submitted quarterly premium payments of $78— now with a time/investment value approximating $3,000. She bought the policy through the American Legion Auxiliary, which sold it to a "Pearl Associates" based in Illinois, which in turn sold it to Hartford Life. Recently Hartford sent the caller a letter advising that it would accept no further premium payments; that she had in fact bought a "decreasing term" policy, and it was being terminated. It said her burial benefit under the policy was zero. "The lady I talked to at Hartford said 'I feel so sorry for people like you who get caught up in this type of thing/" Term insurance has no cash value. It is essentially a wager between the insurer and the insured. The company bets you will outlive the policy. You bet you will not. But, term burial insurance? And worse yet, "decreasing" term burial insurance? Receipts: 1,849. Last Week: 1,835. Last Year: 771. Feeder Steers: mixed but mostly weak to 1.00 lower; except 350600 lbs 1.00-2.00 higher. Feeder Heifer: mixed, but mostly 2.00-3.00 lower; except 450-650 lbs 1.00-2.00 higher. Holstein Steers: steady. Slaughter Cows: 1.002.00 lower. Slaughter Bulls: steady. Feeder Steers: Medium and Large Frame 1-2: 200-250 lbs scarce; 250-300 lbs 116.00137.00; 300-350 lbs scarce; 350-400 lbs 117.50-135.00; 400-450 lbs 129.00136.00; 450-500 lbs 115.00-130.00; 500550 lbs 111.00-121.00; 550-600 lbs 105.00-117.50; 600-650 lbs 103.00113.25; 650-700 lbs 97.00-105.25; 700750 lbs 92.00-101.50; 750-800 lbs 94.0098.00; 800-850 lbs 89.50-95.60; 850-900 lbs 87.00-93.75; 900-950 lbs 86.00-88.00; 950-1000 lbs 80.50-88.50. Holsteins Steers: Large Frame 3 Baby Bull Calves: scarce; 200-300 scarce; 300-500 lbs 68.00-77.00; 500-700 lbs 69.50-75.00; 700-900 lbs 66.50-71.50; 900-1000 lbs 62.00-66.00. Feeder Heifers: Medium and Large Frame 1-2: 200-250 lbs scarce; 250-300 lbs 110.00-116.00; 300-350 lbs 110.50115.00; 350-400 lbs 105.00-114.00; 400450 lbs 101.50-110.50; 450-500 lbs 101.50-112.00; 500-550 lbs 100.00111.00; 550-600 lbs 96.50-103.50; 600650 lbs 91.50-102.00; 650-700 lbs 89.0099.00; 700-750 !bs 81.50-92.50; 750-800 lbs 85.00-90.00; 800-850 lbs 87.50-89.50; 850-900 lbs 87.00-87.75; 900-950 lbs 78.50-83.50; 950-1000 lbs 83.00-83.50. Heiferettes: 39.50-79.00 Stock Cows: Medium and Large Frame 1: Few Older Pairs 790.00-850.00/pr. Slaughter Cows: Boning 80-85% Lean: 42.00-49.25; Breaking 75-80% Lean: 42.50-46.75 Cutter 85-90% Lean: 33.5040.75. Slaughter !*«/&: Yield Grade 1 1000-1500 lbs 56.75-58.00; 1500-2255 lbs 64.0072.50; Yield Grade 2 1000-1500 lbs 48.5052.75; 1500-2085 lbs 54.75- 60.25; FeederBulls IO5O-II15 lbs68.50-72.50. Need Solar Electric Power? St George 42 South River ftd, 248 South 100 East 64MS10 CtdarOty S3SS.Mafn$t 867-661S Hurrtur* 1141W. State SL 635-5186 Bolvvte 45 North 100 VWst 826-4211 Mkfatt 1185 W. Utah Ate. 574-2810 We 're your local source! We're currently planning orders for this season. Set \n on quantity discounts or save on shipping by combining your order with others) Give us a call! Solar Power for: Cabins, 2nd Homes, Campers, and Well & Surface Pumps RE Solar, 135 E. Main Street in Torrey 435-425-2110 www.re-solar.com |