There’s a flaw in selling kids whole life policy’s. What happens when Grandpa dies?

[goillini52]

To where? It is an alarming trend globally. https://www.actionnews5.com/2022/10...-rise-cancer-among-young-people-across-globe/

Cancer is a lucrative business.

 

[scagnt83]

Cancer is a lucrative business.

Giving it or treating it?

Wait, its both.

 

[Allen Trent]

Side note: community property states make a difference as well.

Rates of cancer have increased across the board.

But a few considerations about that article, its based on the world, not US. And many parts of the world have only recently started accurately reporting cancer deaths.

Also, cancer deaths are not always been known in young people of the past. Modern tech has allowed us to gain more info about deaths without having to do an autopsy. So with a simple blood test we can find cancer deaths now, vs. 20 years ago when an autopsy would have been required.

So that study must be taken with a huge grain of salt compared to the US population.

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What they have linked to increased cancer rates, without a doubt, time and time again, is the use of petroleum based products in our daily lives. Along with other dangerous chemicals & emissions that are allowed to be used around the mass public. And Im not just talking about energy uses when I say petroleum.

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If those cancer patients all live in the same area, its very likely there is some type of harmful pollutant in the area.

Cancer "clusters" have been a growing trend since the 80s. When properly investigated, often there is some type of manufacturer emitting something toxic nearby

(I know of a small area in our region where at least 7 different people, all lifelong residents in their late 20s, all within 5 years of each others age, were diagnosed with an extremely rare form of aggressive brain cancer. Less than 1% of all cancers are this type. They had 7 within a 6mi radius.)

A lot of the research is also pointing to processed foods, food additives, obesity, sedentary lifestyles, vaping, etc, but certainly environmental & chemicals in air, drinking water & food.

 

[goillini52]

Giving it or treating it?

Wait, its both.

Yes, both.

 

[WinoBlues]

For something so simple, these kids policies can get complicated.

Yup. Had one a couple of years ago. Grandma owned a policy on a now 18 year old. She dies. Grandpa wanted the policy, California community property, no problem. Oops, he forgot to tell us they were now divorced. Policy reverted to grandson. I do not remember if there were other heirs.

 

[Allen Trent]

Policy reverted to grandson. I do not remember if there were other heirs.

Now you are really splitting heirs

 

[PrivClientSG]

While I have a national practice, my business is based out of non-community property states. However, I have a lot of clients in California, Arizona, Nevada, New Mexico, Texas, and the other community property states. When I talk to those clients -- about any asset transfer, anything having to do with the distribution of assets, titling, will, even inter-vivos gifts to trust, whatever the case may be -- I insist we get the attorney on the phone!

My process is measure three times, talk to the experts/professionals, measure again -- and then cut once! LOL.