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![]() "Michael Horowitz" wrote in message Oh, it's a way of cutting their losses. When they pay out for a less than totaled a/c, they loose 100%, but if they total the a/c, they at least get 30-40% back. Thanks Think you may find they get more than that. It's pretty much the same with the auto insurance industry. I personally know of situations where the insurance company totaled the car; paid the insured (MINUS the deductible, of course) and parted the car out, and actually retreived close to 85% of the payout. The insured is ALWAYS the one who takes the big hit, either by the insurance company totaling "short" or by big premium increases, or both. If you think you can win with insurance, you're living in a fools paradox. Best bet is whole life insurance, bought early in life. Of course, the only way to collect is... sigh GWK |
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On Fri, 28 May 2004 18:13:24 -0500, "VideoGuy" gkasten at brick dot
net wrote: Best bet is whole life insurance, bought early in life. Of course, the only way to collect is... sigh Whole life? I don't think so. Ricky |
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![]() "Ricky Robbins" wrote in message ... On Fri, 28 May 2004 18:13:24 -0500, "VideoGuy" gkasten at brick dot net wrote: Best bet is whole life insurance, bought early in life. Of course, the only way to collect is... sigh Whole life? I don't think so. Ricky Well.... Maybe I should have just said "life" insurance. Better? GWK |
#5
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![]() "VideoGuy" gkasten at brick dot net wrote in message ... "Ricky Robbins" wrote in message ... On Fri, 28 May 2004 18:13:24 -0500, "VideoGuy" gkasten at brick dot net wrote: Best bet is whole life insurance, bought early in life. Of course, the only way to collect is... sigh Whole life? I don't think so. Ricky Well.... Maybe I should have just said "life" insurance. Better? GWK No. It is one of the worst investments ever invented. |
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In article m, Dave
Stadt wrote: Well.... Maybe I should have just said "life" insurance. Better? No. It is one of the worst investments ever invented. Unless you are the person selling the policy. :-)) |
#7
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I believe the best bet is no insurance.
Think about it. The insurance company exists to make money. They collect more in premiums than they pay out. I believe that over the long run, you will pay more in premiums than you will collect. I stopped paying collision on my auto the day I got the title. I don't carry hull insurance on my plane. I Only insure against a loss that will change my lifestyle. (liability, home, health) "VideoGuy" gkasten at brick dot net wrote in message ... Best bet is whole life insurance, bought early in life. Of course, the only way to collect is... sigh |
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![]() Steve Foley wrote: I believe the best bet is no insurance. Think about it. The insurance company exists to make money. They collect more in premiums than they pay out. Not usually. They usually take the premiums and invest them in things like the stock market. That's where they really make their money. That's also why premiums skyrocket when the market goes down. George Patterson None of us is as dumb as all of us. |
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In article ,
Steve Foley wrote: Think about it. The insurance company exists to make money. They collect more in premiums than they pay out. I believe that over the long run, you will pay more in premiums than you will collect. The insurance company makes the most money by investing the premium money. When the stock market is doing badly, insurance rates go up. When the market is doing well, the rates go down. |
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"VideoGuy" gkasten at brick dot net wrote in
: Best bet is whole life insurance, bought early in life. Of course, the only way to collect is... sigh Next thing you know, insurance companies will start declaring a total loss on life insurance policies if you sustain 60-70% of injuries. Then they can make back the difference in salvage value... How much does a cadaver minus a few fresh vital organs go for these days anyway? |
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