Life Insurance Initiative Launched in Memory of Paz Schesterman OBM
Following the untimely passing of Young Chevra member Paz Shusterman OBM, once again the critical importance of every family having life insurance was underscored. In an effort to help make this a reality, the organization is extending a special offer to Young Chevra of SoCal members to have up to 50% of their life insurance premiums paid for 2 years.
Young Chevra of Southern California today officially launched the Arichas Yomim Life Insurance Initiative. The program was recently announced at the group’s Annual Shabbaton.
The initiative was made possible through the generous sponsorship of an anonymous donor.
Following the untimely passing of Young Chevra member Paz Shusterman A”H, once again the critical importance of every family having life insurance was underscored. In an effort to help make this a reality, the organization is extending a special offer to Young Chevra of SoCal members to have up to 50% of their life insurance premiums paid for 2 years.
“The feedback to this program has been very encouraging… We have received many inquiries already,” said Jonathan Herzog, Young Chevra’s Chairman. Community awareness about making life insurance a priority in every family is now being heavily promoted in the greater L.A. area.
Young Chevra was established with the goal of promoting achdus among the young and rapidly growing Lubavitch communities of Southern California. The Board of Young Chevra is comprised of members from the many local shuls and regional communities. Young Chevra recently had 300 people attend its annual Shabbaton in the San Bernadino mountains and earlier this year held a very successful Melava Malka Cocktail Evening to significantly expand its Keren Avrohom Eliezer Gemach Fund.
AshMan
Insurance equal to 10 times your income. 20 or 30 year level term. NO whole life, etc, too expensive and a lousy investment. Don’t forget $250,000 on your wife.
SB
Great idea!
Rochel
Amazing show of Ahavas Yisroel from Young Chevra. WOW!
mammy & tatty
Can i also get life insurance through this program
Nobody
#1 – perfect advice!
declasse intellectual
life insurance for both parents should be a no brainer!!!!!!!!!!!!!!!!!!!!!!!
Aussie
Aussie wrote
A very important undertaking by a great team at the Young Chevra and a very solid and capable Chairman at it’s helm.
He always was the ideas and follow thru guy even in H.S.
Keep up the Good work.
EDUCATE
#1 – YOUR CALCULATION IS OUTDATED. IN TODAYS ECONOMY ONE NEEDS INCOME REPLACEMENT. I.E IF YOU MAKE 50K/YR AND ARE 35 YRS OLD YOU WNAT TO REPLACE THE FUTURE INCOME YOU WILL BE BRININGING TO THE FAMILY UNIT. IF YOU PLAN TO RETIRE @ 65 YOU NEED 50K X 30 YRS (THE YEARS YOU WILL PRODUCING AN INCOME TO YOUR FAMILY) THIS CLACULATION WILL GIVE THE PROPER AMOUNT OF INSURANCE COVERAGE ONE NEEDS!
Clarification to #8
To #8, you are not figuring the interest that is earned on the lump sum payout. Death benefits are not paid out over 30 years rather in one lump sum. If you had 20 times your income in one shot and invested properly, it would easily carry you beyond the 30 years of needed income replacement.