Help me spend my Fathers life insurance which

AUandAG

I just got.
First a bit of background. Dad took it out in 1965. He died in 1990. I found out about this policy with NY Life
three weeks ago. Mom didn't collect when he died and she died in 1997. So, I spoke to NY Life and answered
all their questions to their satisfaction. Got the check a couple of days ago and it's burning a hole in my pocket.

Here's the breakdown of the check:

Policy face amount: $2.00
Dividend Accumulations: 1.59
Dividend Interest: .01
Termination Dividend: .05
Post Mortem Dividend: .01

Miscellaneous Interest: 4.99

Total payable: $8.65

Yep, my inheritance in full! Good old Dad, probably laughing in his grave!! Hard to believe that NY Life would admit to owning this pittance!

What CC should or could I buy?

bob

STONE

lol

Elcontador

Get a Eunice Shriver Commem!

JRocco

<< <i>I just got.

What CC should or could I buy?

bob >>



Get a nice 1989 Chuck e Cheese token

AUandAG

<< <i>Get a Eunice Shriver Commem! >>



I said CC (Carson City!)

PS: Could anyone really take a policy out for $2.00? Soooo weird.

Rampage

I guess I don't get it. What is the purpose of a $2.00 policy?

AUandAG

<< <i>

<< <i>I just got.

What CC should or could I buy?

bob >>



Get a nice 1989 Chuck e Cheese token
>>



Already have one of those, but may upgrade! Good idea. Better than Chinese Counterfeit!

coindeuce

I've got 1 oz. avp . of Cu for Au & Ag !

chocolatebayou

You could have used it to bid on that 1870-CC$20 if it hadn't been heisted

erickso1

<< <i>I guess I don't get it. What is the purpose of a $2.00 policy? >>



Peace of mind.

" Have you purchased life Insurance yet from that nice NY life man"

"Yep, sure have."

AUandAG

<< <i>You could have used it to bid on that 1870-CC$20 if it hadn't been heisted >>



Maybe if the CC's were superglued on I could get one of them when it falls off?

Oh, I have no idea why a $2 policy. I don't get it either.

And Cu might be the real chance for appreciation down the road?

lol

bob

DNADave

Frame the check.

coinman420

buy a few cc`s of Eliah Craig and drown those sorrows.

AUandAG

<< <i>Frame the check. >>



I may do just that. Put it above my desk and will always get a chuckle out of it.

Best idea yet!

bob

Goldbully

59¢ for a senior coffee

RedTiger

It is a hidden message, buy a coin dated 1865, though if $8.65 is the budget, a modest Indian cent from that year is the only U. S. coin that fits.

AUandAG

<< <i>It is a hidden message, buy a coin dated 1865, though if $8.65 is the budget, a modest Indian cent from that year is the only U. S. coin that fits. >>



Had it been a $2 policy from 1865 it actually might have amounted to something!

bob

WoodenJefferson

Re-invest $8.00 back into a NY Life policy, take the left over 65¢ use 44¢ to mail in the forms, with the remaining 21¢ buy some Ramen noodles of your choice...let you heirs figure out why you took out this policy.

MercLovin

<< <i>Re-invest $8.00 back into a NY Life policy, take the left over 65¢ use 44¢ to mail in the forms, with the remaining 21¢ buy some Ramen noodles of your choice...let you heirs figure out why you took out this policy. >>


This.

itsnotjustme

Maybe they mis-represented it to him (or you) as 2 units, with each unit being $1,000 or $5,000.

My dad recently passed and his 1959 policy was for $30K. Fortunately for my mom this was not all he left.

66Tbird

I was thinking units also I only say that because my fiance just went through three years of 'we know nothing about that policy' when we had the policy in hand. It makes me really wonder how many policies never get claimed because the issuer just ignores the whole thing. 'Sweep it under the rug and fix what keeps crawling out' seem to be the mentality we ran into. Can you tell I'm bitter???

I like the 1865 idea, or buy a lotto ticket.

TwoSides2aCoin

I recommend employing the services of a good accountant ? More importantly, one who specializes in estate taxes

options26

If I had to take a guess I would bet he bought a policy from a door to door sales man that was probably $2 a month but didn't continue after his first payment.

Elcontador

Invest your lordly inheritance at a local bank that pays .1% per annum, and wait until you get enough money to by an 1889 CC Morgan in a PC 5 holder. Be sure to make provisions for this in your will. This will only work if you live in a jurisdiction that does not have a law forbidding perpetuities.

morgantype

<< <i>

<< <i>I just got.

What CC should or could I buy?

bob >>



Get a nice 1989 Chuck e Cheese token
>>



Shhhh, don't start the stampede!!!

MsMorrisine

<< <i>If I had to take a guess I would bet he bought a policy from a door to door sales man that was probably $2 a month but didn't continue after his first payment. >>




something that makes sense... hmmmm


$8.65 would get you a silver quarter, shipped, from your birthyear.

Tiny

PS: Could anyone really take a policy out for $2.00? Soooo weird.


I remember about 1969 or 70 Independant Life had debit salesmen that came around the work place
every week and collected like 35 cent on a policy for like I think a thousand bucks. After a few years
the guys stopped coming around and a bunch of us call Independant and asked what the heck. They
told us the policy didn't need to be paid anymore and that the money we had paid over the years
would cover it I think forever. Yea Right. Anyway the company ain't around anymore so I guess the
answer is yup back then you could get some weird insurance policies.

leothelyon

Yep, my inheritance in full! Good old Dad, probably laughing in his grave!! Hard to believe that NY Life would admit to owning this pittance!

I don't believe that. For many of the older generation, money was scarce. My grandmother left me around $32 and she was dirt poor most of her life. When her husband, my grandpa died at 49 years, she continued to run the chicken farm, that's all she had. For years, I refused to cash that check but the bank it was drawn on kept sending me letters asking if I had cashed the check. Eventually, I did cash it and put it towards a bond for my first grandson.

EagleEye

You could probably get a 1876-CC dime in AG for $8.65

Hawgstick

Go for a really bad chinese counterfeit CC on ebay.

melvin289

I have a policy in my file cabinet that my father took out on me when I was born. The payments were 25¢ a month. The cash in value is $100 and on my death it will be worth either $500 or $250, I forget which. The policy was taken out in 1948 and you could bury a child for that amount back then.

Ron

Twinturbo

The next CC dime I get is heading your way, we cant all be big winners, but we all can be winners in some sort of sense.

ebaytrader

<< <i>PS: Could anyone really take a policy out for $2.00? Soooo weird.


I remember about 1969 or 70 Independant Life had debit salesmen that came around the work place
every week and collected like 35 cent on a policy for like I think a thousand bucks. After a few years
the guys stopped coming around and a bunch of us call Independant and asked what the heck. They
told us the policy didn't need to be paid anymore and that the money we had paid over the years
would cover it I think forever. Yea Right. Anyway the company ain't around anymore so I guess the
answer is yup back then you could get some weird insurance policies. >>




Your policy was transfered to AIG when they took over Independent Life and should still be in full force. Policies don't disappear into the ether when the companies go belly-up.

TwoSides2aCoin

<< <i>Go for a really bad chinese counterfeit CC on ebay. >>


Premium Quality comment, for sure

..an' the avatar ain't too bad either.

Ahrensdad

I'm not in the insurance business but here goes:

Could it be a reinvested dividend that purchased a mini policy on top of a larger existing policy? When the larger policy was cashed out, someone missed this small one? It hink there is a term for such policy, but I can't remember what it is.

kiyote

In 1965 $8 would have covered the cost of a coffin, hearse and burial...

secondrepublic

<< <i> Policy face amount: $2.00 >>



Too bad he didn't pull $2 worth of silver out of circulation back in 1965