 COBRA Insurance question? |
| My wife currently carries our family insurance with her company. We were wanting to have another baby on her insurance and she is wanting to quit working in Jan. If that is the case we would ... |
|
 What are your thoughts on insurance's.Do you feel they are just a scam in disguise? |
They all want your money,but then when you need it,there's always a catch,or some reason they come up with, to keep from giving you the money..
Additional Details
I think there main ... |
|
 I'm self employed, where can I find health insurance? |
| I would like to find a provider that will pay 50% - 80% of my medical bills and all that good stuff. Where should I start looking? Who is best to go with? Is there anything you think I should go ... |
|
 Where can I purchase individual health insurance? |
| It's actually for my mom who is 63 and needs some type of insurance until she is 65 and eligible for medicare. She just retired. Does anyone know good, reasonably priced plans that she can look ... |
|
 My Insurance claim? |
Early December 2006 I dropped my pc down the stairs.
I just got a call from the Insurance people and they say that I will get a letter from the underwriter before wednesday?
Why ... |
|
 My wife sadly passed away last week ...? |
| After a long and sad illness and I sent a death certificate to the Prudential to claim under her life policy. I rang the Prudential today and went through to an Indian Call Centre where I enquired ... |
|
 Can I buy a Life Insurance Policy on someone I don't even know? |
Seriously.
For instance, If I took out a policy on Bob Barker, I could expect a payout in about three to five years.
Can I insure someone without their knowledge or permission?<... |
|
 Life insurance: Which would you pick? |
Scenario: 30 year old purchasing a $250,000 policy. Would you buy:
A) Whole life insurance that cost $3100/year. By age 65, you will have $60,000 in the cash value.
B) 35 year ... |
|
 How much is too much to pay for health ins for a family, through you employer? |
Almost 400 a month is taken out from my check to pay for insurance.
Additional Details
Had an HMO and switched to PPO to save money. Ended up paying about the same because the rates went ... |
|
 What is covered under your home owners insurance? |
| I have a main wall in my house that over time hase become week due to high winds. I can actually see the wall move, i have a big moon window and a crack going done. I have folks out who hae told ... |
|
 Life Insurance from AIG!? |
Hello,
I have a life insurance from AIG. If AIG goes bankcrupcy, what will happen to my life insurance?
What should I do now?
Thank you!
Additional Details
Thank you ... |
|
 Why are insurance companys rip offs? |
| how is it that you pay extra for dental ins. and they tell you that you can't use it for a year. let's see if they could live with a toothache for a year. can i get my money back that was ... |
|
 Insurance claim? |
Scratched car?
while going to the bank i parked my car in a short stay free car park i packed up fine. On returned to my car as i had forgot something there was a different car parked next to ... |
|
 How do you get your Lienholder to sign off on an auto insurance check so you can cash it? |
| I got in a minor accident and was issued a check from my insurance co. My family is really short on cash right now and we were thinking the best thing to do is leave the damage on the vehicle and ... |
|
 My apartment is making me get renters insurance, can they do this? |
| We have been living in this apartment now for over a year, and now they are telling us that we have to get renters insurance. We have to have at least liability, so basically if our appliances cause ... |
|
 Should parents buy life insurance policies for their young children? |
| What do you think? Give good reasoning for your argument...THANKS!!!... |
|
 How can I get my insurance to pay for a boob job? |
| I'm trying to figure out how I can get my insurance to pay for me to have a boob job. (Not because I don't have any and I just want some.) I have a what I think to be huge breasts for my ... |
|
|  |
CHEESY ♥ | Insurance: The Ultimate Gamble? |
My hubby and I debate this all the time, he wants to insure everything we own. I say it is like betting against yourself.
You are betting you are unfortunate and have an accident, or your house burn down, etc. If it doesn't happen, you have spent alot of money on nothing, right?
then he says "but what if???" and I say "but what if it DOESN'T happen? Think of all that money"
Who the heck invented insurance anyway? Think Henry Ford was at the local saloon after he invented the first car having a few beers with his croonies and he said "Hey, Benjamin, I'll bet ya a dollar that you're gonna wreck that new horseless carriage I just built for you"
And Old Pa says "Hey I want in on that bet. Let's make it two dollars"
So then everyone in the saloon bet a dollar that Benny would have an accident. Benny met each dollar with one of his own. He never did and when he died they all used Ben's money to have a party.
The question is:
Isn't insurance betting against yourself? |
 |
 
kered
|
Having insurance is actually less of a gamble than not having it. All insurance does is decrease risk. Without insurance you have no way to plan for the future, with insurance you can figure out exactly what might be the most you may have to pay. Insurance is the opposite of gambling. Gambling is taking a risk, insurance is limiting risk. |
|
Mike
 |
No. It's protecting your assets.
My homeowners insurance is about $400 per year. If my house gets blown down by a hurricane, and it is a total loss, the insurance company will shell out around $120 grand to replace the structure (I already own the land, of course).
Of course, they take my premium, along with everyone else, invest it in the stock market, and they make a profit... in 40 years I might spend $16,000 on homeowners insurance. That is a very small price to pay for that protection.
It would be financially devastating to have a tragic event happen and for me to not be protected.
Health insurance is another example. Hospital bills can add up to hundreds of thousands of dollars. I could never pay that.
You are not betting against yourself... you are being wise and protecting your assets and financial future. A disaster can put you in the poor house for the rest of your life.... and it is so cheap, its dumb not to have.
Of course, there are lots of types of insurance. Life insurance makes sure your kids are OK if you die while they are young.... and a million dollar policy is only $100 per month.... auto insurance is a lot more expensive compared to what it could pay... but there again, if you rear end someone you dont want to pay 50 grand out of pocket.
It's just one of life's expenses.... and as far as being financially responsible and winning with money and becoming rich... you MUST have it. |
|
mbrcatz
|
Yes, it's just a form of gambling. It's a financial tool. So what?
Going without certain types of insurance is a DUMB financial move. There are a lot of times when it PAYS YOU to bet against yourself.
Example: Health insurance. For a mere $300 a month or so, which is $3600 a year, you get the insurance company to maybe pay out $300 , if you're super healthy and only go once a year for a checkup and a few labs, or $250,000 if you develope cancer or have a heart attack, or $25,000 if you have a baby, or $15,000 if you fall funny and break your ankle and need the surgery. Uninsured medical costs are the #1 cause of bankruptcy filings in the US. And once you develope a problem, well, you can't bet on the race AFTER it's run! And you can't get health insurance after stuff starts going wrong.
You don't need to insure everything you own - there IS such a thing as being "insurance poor". You only need to insure the things you can't afford to replace. For most people, that includes their house. But some people DO
have $25,000 in the bank to replace their car if it gets stolen or wrecked.
Me, personally - well, we own a house in a flood plain. We have homeowners insurance on it, but NO flood insurance (yes, it's paid for, so there isn't any bank complaining about this). We chose to invest in french drains instead. I would NEVER go without homeowners insurance. But we HAVE mitigated a flood loss, and if we have some water damage to the house from getting 6" or so of water in it, well, we can financially survive that. There's always a chance that we'll have six feet of water, and then the house will be totalled. Well, the house is worth about 25%, the land is worth 75%, we'd sell the land and buy a new house. That's how WE are handling the risk.
The POINT is, to identify your risks, see which ones you think you can afford to take yourself, and which ones you CAN'T afford to take yourself - and transfer THOSE to the insurance company. |
|
aaron p
 |
Your example with Henry Ford wouldn't work because the pool of risk is too small for either party to make a smart statistical decision. Insurance relies on the concept displacing your risk with the risk of others using the law of large numbers. That is, you pool your risk with your neighbors. The insurance company basically administers the risk.
If you can afford insurable losses out of pocket, you don't need insurance. Otherwise, insurance is the cheapest and most immediate way to offset your risk.
BTW, a casino would never take the odds that insurance companies do. |
|
likepepsi
 |
No, it's not betting against yourself. It's protecting yourself against risks that you can't afford to take on by yourself.
For example, your homeowners insurance protects you against your house burning down. Very few people could come up with the money to rebuild their home out of their own pocket, so homeowners insurance is well worth it.
But if you have a $500 bicycle and spend $100 a year to insure it, does that make sense? Probably not. You could afford to lose a bicycle and it wouldn't ruin you financially.
It isn't a matter of "wasting money". It's protection against large risks that would destroy you financially if something happens. You don't get insurance on small things because there is little risk of being ruined.
Another example - cancer insurance. Why pay money for insurance that only covers you against ONE disease? That's foolish. Life insurance is necessary if your family is dependent on your income, in case something happens. You can't let your family be destitute so you get life insurance to cover that possibility. But you don't get insurance to cover you against just one possible cause of death.
You balance the risk against the cost and then decide. Insuring "everything you own" is probably a waste - just like many "extended warranties".
No insurance at all is foolish. Insuring everything you own is foolish as well. It is important to ask the "what if" questions so you know if you are protected and can survive the loss, but many times the answer is going to be "yeah, we could handle that on our own if it happened and we don't need insurance for it."
Beyond homeowners (or renters) insurance, health insurance, car insurance, and life insurance (if a family is dependent on the person's income), I would have a hard time thinking of additional insurance needs that the average person would have. |
|
britt_910
|
In a way you are but that's really too simple a way to look at things.
Instead, think what do I own that I can't afford to lose and or not replace? (Those things should be insured hands down no questions asked.) Then out of what's left over, how much of it will you end up replacing anyways out of the desire to maintain your current standard of living? This will help you determine how much more you should cover yourself for. *All of this is predicated by the assumption that we're talking about property and casualty insurance + homeowners etc. because health insurance ie major medical + supplemental is an ENTIRELY DIFFERENT SITUATION.) The last major thing to consider is how much money do I save every paycheck and how much do I have put aside right now? Do you have enough to sustain your family for more than a month if you or your husband were in an accident and one or both of you couldn't work? Or what if you were to lose your house, how long could you afford to keep paying rent while looking for a new house while paying on a mortgage for a house that is burned down and not enough money to fix it because you were under or not insured? And while you're at it, throw in the cost of replacing much of what you own because that wasn't insured either.
When it comes to insurance you really should "hope for the best but plan for the worst." Far too many people in this country end up in bankruptcy due to lack of or under insurance. And unfortunately in todays society, insurance is a necessary "waste" of money. |
|
Mildred S
 |
it's to make you whole in the event of a loss.
the issue is allstate is not paying claims out. the internal strategy is said to be to deny ... delay ...litigate .
people do not have as many lawyers as they do ... they can continue paying out claims for years. they have done this for years. allstate says they developed this strategy to prevent fraud very rappant in eighties. LOL
Insurance commissioners are finally pushing Allstate / Safeco to pay more. |
|
ndnquah
|
My mother-in-law had insurance for 50 years on 2,000 acres of land, 2 homes, 3 trucks, tractors and farm implements and when I got hurt the insurance would only pay 5,000 on my medical and we had to sue them for the rest and then DROPPED her insurance!! You can imagine how much she paid in over 50 years!!! She had had one small claim! |
|
tealc666
|
i`ve always thought so |
|
harleygirl
|
This morning in La Jolla,Ca we had a major land slid in a million dollor neighborhood...now the insurance companies say "They Are Not!! Going To Pay"!! sure they are always willing to take your money no problem...their just a big ripe off!!! |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 39 minutes(s) ago
| | | |
10 | 3 hour(s) ago
| | | |
10 | 6 hour(s) ago
| | | |
10 | 9 hour(s) ago
| | | |
10 | 11 hour(s) ago
| | | |
10 | 1 day(s) ago
| | | |
9 | 2 day(s) ago
| | | |
10 | 4 day(s) ago
| | | |
10 | 6 day(s) ago
| | | |
10 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Insurance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
