When to use a Golden Life policy and changes that could be made
Funeral plans are no longer a viable product, mainly because they have been deemed unreasonable contracts. One alternative is a Golden Life policy. Jon-Paul Hale explains.
Why are funeral plans unreasonable contracts?
The pricing of these plans is such that, held long enough, the policyholder can pay significantly more than the policy pays a claim.
This is considered low value and unreasonable for consumers.
Why is this?
Because of the nature of the contracts, the pricing is about the risk. The policy has no medical disclosure, and...MORE»
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