All About Kimberly

So my grandmother calls me this week to let me know that she has this life insurance policy that she’s been paying on me for years and years.  She was given the impression when she bought it that it was a policy that would eventually be paid off, but when she called them to see how much longer to pay it off, she was told never.  It officially became mine at the age of 18 (even though I had no idea about it as she had continued to pay it) so she decided she didn’t want to continue to pay it unless I really wanted it (and would keep it after she died).  She also was told that it could be cashed out when I told 18 so I told her to call back and see what it was worth and just cash it out.  I have life insurance that I’ve bought personally and through work so I didn’t need this policy (with a monthly bill). She calls back and finds out that it has NO value.  After paying on it for all of these years for all of her grandchildren, she finds out it’s a total waste of her money.  I’m so upset - not for me (though I was looking forward to a little money), but for her after all these years of thinking she was doing something so great for us to be so bitterly disappointed.  So before heading to bed tonight, I wanted to caution you to not be fooled by these children’s insurance policies that you may receive in the mail and their low life insurance rates. Check all the details so that you don’t wake up 20 years later and feel totally scammed.