Burial Insurance in the New York Times

Burial insurance is a bit of a nonsense product. Basically, if you die, your family receives about $5,000 to cover funeral expenses. If you think about it, you'd be much better off buying a "regular ole" term life insurance policy that can be be used for any expense you have. The life insurance product not only offers more flexibilty, but most likely lower fees and expenses.

While this is a rotten product, insurance companies target consumers by preying on fear and misinformation. The New York Times tells about a company selling in the Mississippi Delta:

"Mr. Catchings, 67, said his agency sold up to 15,000 such policies a year — they are simply small life insurance policies worth an average of $5,000 — by sending 15 agents to school systems, public agencies and companies to meet the janitors, bus drivers and secretaries. When he started, he said, all the customers were black, but he now sells to a rising share of white clients. "

Racial profiling much, eh? The Times appears to completely gloss over this fact.