 Do people must have my permision to buy life insurance on my head? |
| If they can, is there a place I can find out anyone bought on me?... |
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 I teach from home - do I need insurance? |
| One pupil at a time, 1 hour sessions, kids aged from 8 to 18, helping with 11+, GCSE and A-level in Mathematics.... |
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 Life Insurance? |
| I was considering buying Life Insurance now because I thought it would be much cheaper than to buy it when I start to get older. I don't know anything about insurance, I know there is term life ... |
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 Medical Coverage/Disability Questions? |
| My husband recently became disabled and can not work due to a back injury (which did not happen at work). He is going to have surgery but it hasn't been scheduled yet (kaiser insurance and they ... |
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 When a college students submits his grades to a car insurance company, how does the company verify the grades? |
| I don't know if the insurance companies actually check the grades i send them or not. I would like to know.... |
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 Will my employer know that I've sold an insurance policy outside of my employment with them? |
| I work for one of the major financial advisory firms out there, and am fairly new into my career there. I have an opportunity to write an extremely large insurance policy outside of my employment ... |
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 Term LIfe Insurance, amount and duration? |
Few questions about term life insurance:
I am 24 married with a mortgage, and 2 kids.
First the amount of insurance:
I have been told two different ways to look at this:
... |
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 Nationwide has denied my homeowners insurance claim-what can I do next? |
| After hurricane Ike hit, we came home to a bent ridge beam, walls bowed out, and siding that was pulled away from the house (not to mention alot of little stuff out of whack here and there.) N... |
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 Has anyone ever heard of buying a Universal Life Insurance policy in order to have retirement money? |
I was recently told of a practice that is supposed to work better than simply saving back money for retirement age.
For example:
You buy a policy for the sole intent of dumping money ... |
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 Did someone actually get a great quote for car insurance online? where? |
| i saw that insurance companies ask for some personal information when it comes to giving an online quote, so i'm trying not to give it to all of the weird companies that come up in a general ... |
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 Are proceeds from a lawsuit taxable? Are insurance settlements arising from a lawsuit taxable? |
| I sued my insurance company over failure to pay a Hurricane Katrina claim and we settled before going to trial.... |
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 Homeowners insurance is high because there is no fire hydrant? |
| The quotes I'm getting for insurance are high b/c I live on a rural property and there is no fire hydrant on the road. The fire dept. told me their trucks carry plenty of water PLUS there's ... |
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 Being mucked about by elephant insurance company is there a body who can deal with my complaint? |
| i have emailed 4 people now about cancileing my account and no one has emailed me back i am now paying contents cover for a house that i do not live in any more this is rediculus. i only have a ... |
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 What can an insurance company force you to do legally? |
| We live in southeast Louisiana. After Katrina none of the insurance companies are writing new policies and they're trying very hard to get rid of all the existing policies and effectively make ... |
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notemag | How can Insurance company makes profits by hedging against a risk just for relatively small fee? |
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jordannadunn
|
Insurance companies do not always make profits. In fact, insurers lost over $40 billion after Katrina. Many insurers went out of business or stopped their earthquake coverage after the 1991 Northridge earthquake.
Over the long term, the total premiums and fees that insurers collect usually exceeds their payouts. They hire mathemeticians to statistically analyze the probabilities of accidents occurring and then set their premiums to a level that covers the expected losses that they cover.
Where insurers really make their money is not on their premiums. They are not allowed to spend most of this money. Instead, they must keep it in reserve to cover possible payouts.
Insurers earn their money on the interest from their cash reserves. For example, if an insurer collects $150 million in premiums during a year and pays out $100 million to cover insured losses and operating costs. The insurer will have $50 million left over, most of which must be kept in a cash reserve. Assuming the insurance company can earn 10% interest from investing this cash, it would earn a $5 million profit.
Over time, the cash reserves of insurance companies grows. Eventually, very large insurance companies can have many billions of dollars in reserve. They spread their risk across many customers and earn lots of money from investing their enormous reserves. |
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Brother Mike
 |
By putting limits on coverage. They also bring judgments against liable parties involved. |
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ßαßε
|
They have thousands and thousands of people giving them hundreds to thousands of dollars every month. |
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Jefferson Hope
|
Hi!
I feel forums are the best places to get your queries resolved. Don't you think so!
Otherwise, in today's world its too tough to get exemplary ideas honestly ... |
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Racer X
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With millions of those small fees vs. the payouts. The difference is the profit. When their expenses (read payouts) go up, so does everybodies rates. |
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sshazzam
|
Well they play the numbers...
Say you insure about 100,000 people. Each one pays you 300 dollars a month.
30,000,000 a month is what you make.
If out of that 100,000 100 have an accident that costs Oh...10,000 dollars...
30,000,000
- 1,000,000
you still make a profit of 29 MILLION DOLLARS. |
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mbrcatz
|
It's called "The law of large numbers". Basically it says, the more members you have in a particular group, the more accurately you can predict the future losses of that group. So you divide up all your future losses among the group, add in overhead, subtract investment income, divide by the numbers in the group . . . VOILA! profit. |
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godzillasagoodman
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People failed to mention how many people cancel policies such as whole life or term after a few years, the companies 99% of time, keep the unused premiums, do the math. Whenever a claim is paid, there's thousands of people paying premiums who aren't dying or making a claim. It is simply a numbers game. Hope this helped |
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