AfterThoughts Birthday Insurance

Money Magazine calls AfterThoughts Birthday Insurance the dumbest insurance ever. I have mixed emotions on the service, so I will call it interesting.

AfterThoughts Birthday Insurance was launched by Commemorative Life Insurance Services based out of Laguna Hills, CA. You pay them yearly premiums (roughly $580/year for a 70-year-old non-smoking male). What the service offers is after you pass away, the insurer will mail out a card and a $100 check to your grand kids on their birthdays for the rest of their lives.

I think this service could serve happiness and depression both at the same time once a year for the grand kids. This insurance company is definitely one of a kind. What are your thoughts on this sort of insurance service?