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- Oct 13, 2010
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Apparently my Dad bought (and forgot about) some SP Life insurance he bought when his first kid was born. Believe it or not, they tracked-down my mom. She got a letter in the mail, but was spooked (thinking it was a scam since they asked for her SSN, etc). But on my advice, she looked up the company on the Internet, calling the number found there and cross-referencing with the BBB. Calling them, sure enough, there's a policy. They want the form filled out and the death certificate before they say how much they will pay.
Any guess as to how much this might be worth?
Obviously, we'll find out after a while, but I figured it would be fun to speculate. Maybe there were some folks on here that had experience with this kind of life insurance.
Anyone here buy one of these "pay one time and it's good forever" policies back when you were 30 years old? Maybe you didn't have much in the way of income, but wanted to do something to protect your new kid in case you weren't around. Maybe you dropped the equivalent of $100/month (in today's dollars) for one year, a pretty small amount. In 1957, that would be $12/mo. If the insurance company credited you with the long bond rate, you'd have nearly $5K.
It would seem that if the policy were really substantial, my dad would have had it documented better, so I'm not expecting much. But it's cool that they tracked-down my mom.
Any guess as to how much this might be worth?
Obviously, we'll find out after a while, but I figured it would be fun to speculate. Maybe there were some folks on here that had experience with this kind of life insurance.
Anyone here buy one of these "pay one time and it's good forever" policies back when you were 30 years old? Maybe you didn't have much in the way of income, but wanted to do something to protect your new kid in case you weren't around. Maybe you dropped the equivalent of $100/month (in today's dollars) for one year, a pretty small amount. In 1957, that would be $12/mo. If the insurance company credited you with the long bond rate, you'd have nearly $5K.
It would seem that if the policy were really substantial, my dad would have had it documented better, so I'm not expecting much. But it's cool that they tracked-down my mom.
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