 Question about arson and insurance fraud? |
Ok,
I have began investing in real estate. I was speaking to another investor at a REI club and he told me something that shocked me completely. He said that he bought a house for $5000. It was ... |
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 My mom recently passed and DID NOT name a beneficiary.? |
| Her husband cannot be located, He has been gone about a year. Can the children collect as the next beneficiary. In fact Mom indicated in her will what she wanted the children to do with the ... |
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 Do you have to be married to be the beneficiary on a life insurance policy? |
| Does the person listed as beneficiary on a life insurance policy have to be related by blood or marriage?... |
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 Which of two Life Insurance Policys should I keep; which to discard? |
I currently hold two life insurance policies on myself. They are both for the same amount, here are the differences:
Policy #1 costs $68 per month.
It is WHOLE Life, 20 yrs, with C... |
|
 What is an umbrella auto insurance policy? |
| I'm 19 and still live at home. Are my parents still, in any way, liable for my actions? How would this determine whether or not I should get an umbrella? Are umbrellas cheaper? I really don'... |
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 Does this seem like a fair settlement? |
Were rear-ended in our car past April (almost totaled the car).
Daughter (16 @ time) and I had whip-lash plus I had a compressed nerve (tingling both hands).
Started chiropractor & ... |
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 If my neighbor has a wood stove fire and it burns down her house and mine and kills someone in my house in the |
process and she has let her insurance lapse, who pays for the wrongful death in my home? Would it be my liability coverage?
Additional Details
Biker, I might have a liability condition. ... |
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 Can i getback my stolen things? |
| I have lost everything in a house robbery, can i get these things back?... |
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 Visitors in USA - no medical insurance? |
I have my parents visiting me from abroad and my father needs to go see a Doctor immediately for Heart Condition.
He does not have any insurance in US. What can we do? Are the hospitals OBLIGED ... |
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 Wife pregnant can she be added to my medical insurance thru my job? |
| at my job i got kaiser permanente insurance....shes 6 weeks along the pregnancy .....i don't want here Thur medi-cal ...ill rather have here Thur kaiser.....can she still be added???... |
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 Can insurance companies refuse coverage if they dispute who was the main driver on the policy ? |
| my wife was involved in an accident with a police car- it was their fault- 60 mph on the wrong side of the road- they made a claim for personal injury- our insurance company accepted liabilty then ... |
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 What do they test for when getting Life Insurance? |
| I wanted to get a life insurance policy for my family and myself. They want to take blood and a urine sample. What are they looking for? Drugs, nicotine, disease???? What's the deal?... |
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 WoULD WARANTEE CoVER ACCIDENTAL DAMAGE? |
| My daughter just bought her very first laptop. She is in Naval school, just graduated basic training. She was so proud of herself, able to buy it on her own, with her own money! She had an accident ... |
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 Can a travel insurance company get your medical records (history)from your doctor without your consent? |
| I had to cancel a holiday, and a insurance claim form was sent to me which in turn had to be given to my doctor to verify the diagnosis for not travelling so that i could claim back through the ... |
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AliJDB | Why are insurance companies allowed to take information like sex and age into account? |
Okay, I am pittyfully unknowledgable about insurance, but it seems like one of the few areas where a company is allowed to descriminate (for want of a better word) based on information like age and gender.
Like I said I know nothing about insurance, but my thinking on it is that its there to spread the risk of accidents etc, so why doesn't everyone pay the same price?
Just wondering ^.^ |
 |
 
Mike L
 |
In conjunction to prior answers: insurance is the study of statistics, risk and probability.
Age is a key element in most forms; auto insurance, health & life insurance, etc. Younger drivers "statistically" have more accidents and claims than older (more experienced) drivers.
However, a younger person has many years to live and at the same time, be in better health than someone, say 30 years older.
Risk is in fact spread around, but only within the same "rating classification." Doesn't make sense to have a 25 yr old man pay the same for life insurance as a 45 year old. "Statistically" speaking, the 45 year old will reach his average life expectance in 32 years, where the 25 year old will reach in it 52 years.
Regarding sex: men have more accidents, drive faster, etc as a general rule (doesn't matter what age) than women.
At the same time, a woman's life expectancy is greater than a man's, however she will have more medical issues / concerns over her lifetime than than man.
In a nutshell: the lower the risk, the lower the premium; the higher the risk, the higher the premium. Similar analogy would be one's credit score; the lower the number, the higher their risk and thus, the higher the interest rate.
A bit wordy I know - I hope it helps |
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suerye
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Discrimination on the grounds of sex and age only apply under employment law. Service providers are allowed to discriminate (otherwise you would have 40 year olds attending playschools).
Sex and age are risk factors in insurance - women tend to be more careful drivers than men, as do older people. |
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bud68
 |
It's not "discrimination." It's fact. Young people, for example, have higher accident rates so pay more for auto insurance. Older people have higher mortality rates so will pay more for the same life insurance coverage. |
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Greywolf
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Because people are different. Actually, it's more fair. Women don't take stupid macho risks - why should they pay a bigger premium than actually fits their real behaviour?
Old people take fewer risks, so get lower premiums.
Young stupid macho males cause all the problems, they should pay. |
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Jeff
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What are the chances that a particular individual will be dead within 10 years (from any cause)?
If I told you that individual was 25 years old and didn't smoke, would that change your answer? |
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Croxx
 |
Statics are allowed to take into account most things based upon evidence other than what is not PC. |
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Knownow't
 |
Risk is the obvious thing which insurance companies use to assess premiums that people pay.....so who is going to be the worst risk....a geteel lady driver in the country or a boy racer in the inner city.....get the point...one pays more than the other...you guess which....that's the way Insurance works. |
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notgonnagetany
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It seems unfair, but it works out in the end. Let's face it, you are more apt to get into an accident due to your younger age due to your lack of driving experience. As you get older with more experience and a good driving record, your insurance will reflect that. So what seems unfair now will even out later. As for the gender bit, younger males are more aggressive than their female counterparts. Although, you could say that younger females have more things like makeup and hair to distract them. Must be in the statistics. |
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