I saw this life insurance advertisement in my Yahoo email today which claims you can get a $500,000 policy for a 27 dollars a month premium. To call any form of advertising misleading and deceptive is not really a news flash, but this ad was almost maliciously concealing.
First the insurance carrier was not even mentioned. Second the $27 per month payments to get $500,000 worth of coverage would only be for the lowest age ranges. If you are over 50 and want this kind of coverage, then the monthly premiums would probably be closer to $80 or more.
The “Rest in Peace” ad had a smiley face declaring that Dad died at 32 with this policy leaving a wife and two kids in school. The policy paid off the house and put both kids through a complete college education. There is no way, of course, to corroborate the authenticity of such a claim. You have to trust this unknown insurance company who could go out of business or deny your claim arbitrarily which would force you to pay for an expensive attorney to fight them.
Finally, this particular advertiser is really in tune with the psyches of many internet surfers/addicts. The ad stresses that no login is required. Many of us seeking insurance only want quick information on the cost and coverage. We don’t want the hassle or burden of registering and having to remeinmber another User ID password combination!
Finally, this ad appeals to any father’s desire to take care of his family. It is a little like the Farmers life insurance ad that was posted on Facebook in Roswell,NM that induces Dad to buy insurance by making him feel guilty.