Post by blueneck on Apr 21, 2007 6:48:39 GMT -6
I wasn't sure where to put this topic - maybe we need a separate insurance category as well?
Anyway - What is the real purpose of insurance. I look back on all the money I have spent on car insurance for example. As long As I have been driving for all the money paid to car insurance I could have bought any of the following - one luxury car, two well equipped mid sized sedans, 3pickups, or 4 compact cars.
In my state insurance proof is required for a license both drivers and plates. I was hit and my vehicle severely damaged by a hit and run a few years ago. Fortunately there were witnesses and one got a plate number. The cops caught the guy eventually. Turns out he was uninsured. This guy gets off Scott free - so guess what - my insurance had to pay for my vehicle damage. I am out of pocket the deductible and the value loss of my vehicle not to mention my time and trouble as well as my premium goes up. I guess the lesson here is to scoff the law - no consequences at all.
Health insurance - being reasonably healthy, my payments in to health plans have always exceeded my health care costs, in fact i seldom crack the deductibles. So again whats the point of health insurance?
Life Insurance? - scam.
Look at all the insurance companies trying to weasel out of paying the hurricane victims now. They are great at collecting money - not so good at paying it out.
Insurance companies are also leading service job outsourcers - moving call centers out of country.
So I contend that insurance is one of the largest scams ever perpetuated on the human race. it is nothing more than a ponzi scheme and in many cases a govt mandated scheme to boot.
Anyway - What is the real purpose of insurance. I look back on all the money I have spent on car insurance for example. As long As I have been driving for all the money paid to car insurance I could have bought any of the following - one luxury car, two well equipped mid sized sedans, 3pickups, or 4 compact cars.
In my state insurance proof is required for a license both drivers and plates. I was hit and my vehicle severely damaged by a hit and run a few years ago. Fortunately there were witnesses and one got a plate number. The cops caught the guy eventually. Turns out he was uninsured. This guy gets off Scott free - so guess what - my insurance had to pay for my vehicle damage. I am out of pocket the deductible and the value loss of my vehicle not to mention my time and trouble as well as my premium goes up. I guess the lesson here is to scoff the law - no consequences at all.
Health insurance - being reasonably healthy, my payments in to health plans have always exceeded my health care costs, in fact i seldom crack the deductibles. So again whats the point of health insurance?
Life Insurance? - scam.
Look at all the insurance companies trying to weasel out of paying the hurricane victims now. They are great at collecting money - not so good at paying it out.
Insurance companies are also leading service job outsourcers - moving call centers out of country.
So I contend that insurance is one of the largest scams ever perpetuated on the human race. it is nothing more than a ponzi scheme and in many cases a govt mandated scheme to boot.