Unregistered

I have the opportunity to purchase perpetual homeowners insurance from the Green Tree Perpetual Insurance Co.

This functions like a typical HO replacement value insurance product except I make one, lump sum premium deposit with the company to obtain coverage. After that no more premium payments. Naturally this deposit is sizable, about 10x an annual premium amount. An additional element is the ability to get 100% of my premium deposit back at anytime if I cancel the policy.

What is happening behnd the scenes is the insurer is investing the proceeds to generate income that pays for re-insurance.

I plan on staying in my home for the long-haul, we've been there six generations already. Back of the napkin-wise, I'm even after 10 years, sooner considering rising insurance premiums and replacement value.

Any opinion on these? It's hard to find data on this type of product and this company, although they have been around since the days of Ben Franklin.

Thanks

CB