Do you still trust Pre-need and Insurance programs lately?

If I have lots$$$ of cash to spare, I will still invest in them. Pre-need plans and insurances are supposed to be investment where you entrusted your money to be managed by others. As an investment, you may win some, you will lose some. However, I will really have to look for companies that have stable financial condition and proven tract record.

Better invest in a life insurance company and not on preneed company. There is a big difference between the two. Insurance Companies are under the regulating body of Insurance Commission (IC). IC is more strict when it comes to managing the funds of the life insurance company under them. Life Insurance company are required to inform IC where they plan to invest their money. IC also make sure that life Insurance company are 85% liquid. They are not allow to invest on real estate that are not income generating. They have regular audit on all the companies under them. And for the record, as of today there are no Life Insurance Company who have been close, they usually are buying out only. Example is Aetna Life was bought by Ing Life but Ing Life was under Pru Life. It simply means that all current and future claims of Aetna and Ing Policyholder will be accepted by Pru Life. Try to visit IC website for more details. While preneed company is under the SEC and as we know they have become very lenient to all the business they are handling. Hope this simple information helps. The best technique to invest is still diversification which means we don't put everything into one investment.

I don't have any trust with pre-need companies before much more now. Most of them really are so cruel to just neglect their responsibilities to their plan holders. It's not easy to earn money nowadays so I am very careful where my money go. I don't have any insurance policies because I don't have any trust with those insurance companies and all.

No I'm not going to trust them anymore. I'm so pity with the planholders who work hard to be able to pay their plan. The pre need companiwa can'r guarantee them if they get the whole amount or when they can get their money like what happened in CAP and Legacy, now the Prudential life. I think it is much safer if you time deposit your money in the well known bank or reputable one so you can ensure that your money is insured with PDIC.

Good day, fatherblogger. I never trust those pre-need companies that offers insurance plans. They are scammers including the pyramiding scheme that promises to pay double the amount to its investors. I don't know why investors had trusted them. They took the risk because they believe that they can be richer than before. They obliged themselves to invest more because they expect it to become bigger in return. They got fooled by the promise of those evil companies. The wrong thing on the part of investors is why did they trust such a scam. Maybe because they think that they are practical and smart when it comes to money. It is better to deposit money on banks even it has low interest rather than to waste money to nothing. This is my response, happy mylotting...=)

We are one of the victims of CAP.I don't want to trust the preneeds anymore.Rather , I would like to invest on real estate

not really sure what you are talking about but if its hospital Ins. I will keep mine thanks as I pay for it thru SS

Many insurance companies are saying that they are far different from pre need companies. But for me they are all the same. As for me, I am just very skeptical on both of them. I pretty know that Insurance cos are very strict when it comes to fund management unlike the pre-need that they were given a freehand in magaing the fund.

My husband and i decided to stop paying for the monthly premium of the plan we got for him... and this is mainly because we are afraid that our pre-need company will meet the same fate as Legacy or the other companies who are in trouble... it is just sad because we only have two more years... and we will be fully paid... so for now... we would just have to wait and see...

haha.. NOthing is really safe in the world.. Even the biggest insurance company in the world needs bail out, so what's there to hope for those other small companies?? I guess with that incident, alot of ple's confidence are shaken, and not that many ple are willing to invest their money in insurance ever again.. Even depositing our money in the bank is not as safe like before, and i also dunno where is the safest place to have our money in.. lol =D

Companies are now experiencing difficulties because of the poor management of funds that were brought to them by the members who entrusted to them their hard earned money. Ever since the news about Legacy plans going down came out and news about its owner personal assets were said to be acquired using funds from the company, made most people think twice about their own pre-need plans. If you really want to invest in insurance or in pre-need plans, it is important to go with the companies that are trusted and have good records.

No, I no longer trusts these pre need companies. I'd rather keep what little is left in my deposit box or somewhere safer. There were so many companies which closed last year. I'm lucky I did not invest in any of them.lol. All the best.