View Full Version : Maybe i am just naive...


* FeistyWench *
06-23-2006, 05:08 PM
but i just don't understand how insurance works!
you pay every month for car insurance, health insurance, etc.
you could go decades never actually needing it, but once you do, they make you jump through hoops. in many cases they actually raise your premiums! and what is up with insurance companies deciding whether they should approve medical procedures and operations? they get to decide whether it is more profitable for them to "cure" you or to just pay for minimal treatment over the long run. it seems to me that if you pay for medical coverage for most of your life then you finally need a heart transplant or whatever, you should get it. it is medically necessary and you paid your dues!

like i said, maybe i am just too naive but i just don't get it.

:Bobby:
06-23-2006, 05:16 PM
STFU you stupid n00b.



Yeah, as if I would ever say that. :p

I believe the problem with health insurance is the companies hope you die so they won't need to pay for treatment, medication, ...
We in Germany, though, have a better social net, if I may say so.

* FeistyWench *
06-23-2006, 05:27 PM
STFU you stupid n00b.



Yeah, as if I would ever say that. :p

I believe the problem with health insurance is the companies hope you die so they won't need to pay for treatment, medication, ...
We in Germany, though, have a better social net, if I may say so.
there is definitely something to be said for socialized medicine.
i have just heard so many horrific and heart breaking stories about the big business of insurance (medical, specifically)

:Bobby:
06-23-2006, 05:35 PM
there is definitely something to be said for socialized medicine.
i have just heard so many horrific and heart breaking stories about the big business of insurance (medical, specifically)
I believe you. It is sad. For them you are not a human being but a number.

The Missing Lin
06-23-2006, 06:46 PM
I think things like auto insurance should help fix your car when it breaks down. Why do they only pay after an accident? :(

* FeistyWench *
06-23-2006, 06:52 PM
I think things like auto insurance should help fix your car when it breaks down. Why do they only pay after an accident? :(
auto insurance is a tricky thing. some insurances will only pay for the damage done to the other car if it is your fault and will not pay for damages to your car.


i have only been in 1 accident and it was due to a severe snow/ice storm and NOT my fault, yet my insurance was a bunch of *******s, and raised my insurance rates although for 20 years i had paid and never been in an accident or used any of my benefits. :rolleyes:

K-DOGG
06-23-2006, 07:01 PM
Insurance Companies are the legalized mafia...no more, no less.

First they get lobbiest to make sure that you are required to have insurance by law in every state; and then they try to make it as difficult as possible for you to collect. They are there to make you pay and make it difficult for you to benefit from the partnership. Statistics and odds...everything is about "what are the odds of this happening and us having to pay this client for this particular occurence?"

Once something happens or you reach a certain age where the variables are no longer in their favor, they either raise your rate or drop your coverage. Why? Profit for them.

The odds are always in their favor and the chips are always stacked against you.

Chups
06-23-2006, 07:01 PM
Regarding insurance...specially car and home insurance...if you didn't claim anything for that year they should give half of what you gave them. If I ever go into insurance business that's what I would do.

* FeistyWench *
06-23-2006, 07:10 PM
Insurance Companies are the legalized mafia...no more, no less.

First they get lobbiest to make sure that you are required to have insurance by law in every state; and then they try to make it as difficult as possible for you to collect. They are there to make you pay and make it difficult for you to benefit from the partnership. Statistics and odds...everything is about "what are the odds of this happening and us having to pay this client for this particular occurence?"

Once something happens or you reach a certain age where the variables are no longer in their favor, they either raise your rate or drop your coverage. Why? Profit for them.

The odds are always in their favor and the chips are always stacked against you.
exactly!
and it makes me sick!

K-DOGG
06-23-2006, 07:20 PM
Regarding insurance...specially car and home insurance...if you didn't claim anything for that year they should give half of what you gave them. If I ever go into insurance business that's what I would do.

You do that and I'll sure as hell come on board. I'm of the Chris Rock philosophy on insurance.

They ought to call it "In Case ****"....so you can use it "in case **** happens"...if **** don't happen, you get your money back.

* FeistyWench *
06-23-2006, 07:26 PM
You do that and I'll sure as hell come on board. I'm of the Chris Rock philosophy on insurance.

They ought to call it "In Case ****"....so you can use it "in case **** happens"...if **** don't happen, you get your money back.
when i got insurance for the first time, i thought of it like that. now THAT was naive. :o

Cockyb
06-23-2006, 07:29 PM
us Brits have da NHS!

free health service!

didnt realise how valuable it is until u compare it to other countries health services!

2nd II none
06-23-2006, 07:36 PM
but i just don't understand how insurance works!
you pay every month for car insurance, health insurance, etc.
you could go decades never actually needing it, but once you do, they make you jump through hoops. in many cases they actually raise your premiums! and what is up with insurance companies deciding whether they should approve medical procedures and operations? they get to decide whether it is more profitable for them to "cure" you or to just pay for minimal treatment over the long run. it seems to me that if you pay for medical coverage for most of your life then you finally need a heart transplant or whatever, you should get it. it is medically necessary and you paid your dues!

like i said, maybe i am just too naive but i just don't get it.


To me insurance is a scam I mean you pay a **** load of money in case something happens to you.Well what if nothing ever happens to me shouldn't i get my money back?

K-DOGG
06-23-2006, 07:43 PM
exactly!
and it makes me sick!

Here's my thought on the way it ought to work...it's a little radical, so criticism is fine....I can take it. :D

Honestly, I think they ought to outlaw most health insurance companies as official entities; and the government should annex those firms with the best reputations and make them part of the federal health care system.

All health care should be a right of any American paying taxes just as road upkeep and public education. Yes...socialized medicene with no pharmasudical (sp) company in any state getting the nod. The FDA also needs to be revamped; but that's another thread.

In the interest of a free market, sure, keep a few insurance companies open to assist those who prefer to go to private hospitals; but free, easy, accessible, and quality health care should be a right of every citizen. There's enough money in the pot if some other steps are taken. It can be done and should be done.

Now, car insurance and such. Right now, auto insurance is a necessariy evil; but some tightenning up needs to be done so that it's a fair, consumer-friendly business and the crooks don't get away with statistical murder and larceny.

First and foremost, it's absurd for a car to be worth less than the sum of it's parts. If a quarter of your car is damaged and it'll cost aprx $7,000 in parts and labor to get you up and running again..good as new, how can your car only be worth $3,000 Blue Book?! And how can the insurance company only offer to pay off the Blue Book value and NOT THE AMOUNT TO REPAIR YOUR $3000 DOLLAR CAR?!! THAT'S INSULTING!!!!

A car shouldn't be "totaled" unless it is possitively unrepairable...undrivable, that is. If it was running fine before the accident, then fix my damn car or pay me the sum value of it's parts so I can buy something decent.

A well-kept $3,000 dollar car with over 100,000 mile on it is worth far more than any car you can pay $3000 for off a used car lot. If my car is paid for...then I don't owe anything on it; that means no car payments. That ought to be taken into account when replacing a vehicle. No debt vs Debt....if a car's totaled, and you want a decent replacement vehicle...you're going into debt. WHAT GOOD IS MY INSURANCE COMPANY DOING ME BY TOTALING MY CAR WHEN THE FENDER'S CRINKLED??!! DID I DRIVE IT FROM THE SCENE TO HAVE AN ESTIMATE TAKEN??!! IF I DROVE IT, HOW CAN IT BE TOTALED?!!!

greedy bastards. :mad:


Okay, I'm done. Sorry 'bout that.

* FeistyWench *
06-23-2006, 07:53 PM
Here's my thought on the way it ought to work...it's a little radical, so criticism is fine....I can take it. :D

Honestly, I think they ought to outlaw most health insurance companies as official entities; and the government should annex those firms with the best reputations and make them part of the federal health care system.

All health care should be a right of any American paying taxes just as road upkeep and public education. Yes...socialized medicene with no pharmasudical (sp) company in any state getting the nod. The FDA also needs to be revamped; but that's another thread.

In the interest of a free market, sure, keep a few insurance companies open to assist those who prefer to go to private hospitals; but free, easy, accessible, and quality health care should be a right of every citizen. There's enough money in the pot if some other steps are taken. It can be done and should be done.

Now, car insurance and such. Right now, auto insurance is a necessariy evil; but some tightenning up needs to be done so that it's a fair, consumer-friendly business and the crooks don't get away with statistical murder and larceny.

First and foremost, it's absurd for a car to be worth less than the sum of it's parts. If a quarter of your car is damaged and it'll cost aprx $7,000 in parts and labor to get you up and running again..good as new, how can your car only be worth $3,000 Blue Book?! And how can the insurance company only offer to pay off the Blue Book value and NOT THE AMOUNT TO REPAIR YOUR $3000 DOLLAR CAR?!! THAT'S INSULTING!!!!

A car shouldn't be "totaled" unless it is possitively unrepairable...undrivable, that is. If it was running fine before the accident, then fix my damn car or pay me the sum value of it's parts so I can buy something decent.

A well-kept $3,000 dollar car with over 100,000 mile on it is worth far more than any car you can pay $3000 for off a used car lot. If my car is paid for...then I don't owe anything on it; that means no car payments. That ought to be taken into account when replacing a vehicle. No debt vs Debt....if a car's totaled, and you want a decent replacement vehicle...you're going into debt. WHAT GOOD IS MY INSURANCE COMPANY DOING ME BY TOTALING MY CAR WHEN THE FENDER'S CRINKLED??!! DID I DRIVE IT FROM THE SCENE TO HAVE AN ESTIMATE TAKEN??!! IF I DROVE IT, HOW CAN IT BE TOTALED?!!!

greedy bastards. :mad:


Okay, I'm done. Sorry 'bout that.
nicely put, K-Dogg.
i like your ideas! :cool:

Papa Ace
06-25-2006, 02:47 PM
the concept of insurance is very complex. simply put, insurance works in the way of assesing the risk factor of any particular event and "distributing" the risk among participants.

example : one individual pays $1 for medical insurance. however, one particular ailment strikes 2 out of every 100 individuals (based on research and actuarial studies done by the company) coverage of which cost $40 each. since the insurance company would be able to collect $100 from the 100 individuals, and assuming that 2 of those from the 100 were hospitalized, the company would shell out only $80 ($40 x 2)and keep the $20 as either income, reserve fund etc. in the event that none of the 100 got sick then, its one happy insurance company. but if it goes the other way, say 6 out of 100 were hospitalized, then company has to fulfill its contractual obligation and pay $240 ($40 x 6) which translates to a net loss of $140 ($100-$240)to the company.

in cases wherein companies would step up their premiums it just means they have assessed that the risk of a particular event happening have gone up.

so it is very vital that when choosing insurance companies, the name, reputation and credibility would always be considered.

* FeistyWench *
06-25-2006, 02:51 PM
the concept of insurance is very complex. simply put, insurance works in the way of assesing the risk factor of any particular event and "distributing" the risk among participants.

example : one individual pays $1 for medical insurance. however, one particular ailment strikes 2 out of every 100 individuals (based on research and actuarial studies done by the company) coverage of which cost $40 each. since the insurance company would be able to collect $100 from the 100 individuals, and assuming that 2 of those from the 100 were hospitalized, the company would shell out only $80 ($40 x 2)and keep the $20 as either income, reserve fund etc. in the event that none of the 100 got sick then, its one happy insurance company. but if it goes the other way, say 6 out of 100 were hospitalized, then company has to fulfill its contractual obligation and pay $240 ($40 x 6) which translates to a net loss of $140 ($100-$240)to the company.

in cases wherein companies would step up their premiums it just means they have assessed that the risk of a particular event happening have gone up.

so it is very vital that when choosing insurance companies, the name, reputation and credibility would always be considered.
of course (to bolded part).


lol! i actually do "get it". i understand how it works.
i just don't like it or agree with it.

Papa Ace
06-25-2006, 02:58 PM
If a quarter of your car is damaged and it'll cost aprx $7,000 in parts and labor to get you up and running again..good as new, how can your car only be worth $3,000 Blue Book?! And how can the insurance company only offer to pay off the Blue Book value and NOT THE AMOUNT TO REPAIR YOUR $3000 DOLLAR CAR?!! THAT'S INSULTING!!!!



how much was your premium? for sure the premium amount you paid covers ONLY the book value. computations of premiums are based on the car model and year. every year your car depreciates and so as the premium.

Papa Ace
06-25-2006, 03:04 PM
of course (to bolded part).

lol! i actually do "get it". i understand how it works.
i just don't like it or agree with it.

well i can see that. its really annoying especially when they raise premiums or when in the case of k-dogg. i guess those insurance guys really has to expalin to their customers the way they should understand it.

* FeistyWench *
06-25-2006, 03:08 PM
well i can see that. its really annoying especially when they raise premiums or when in the case of k-dogg. i guess those insurance guys really has to expalin to their customers the way they should understand it.
are you in the insurance business ace? :D

Papa Ace
06-25-2006, 03:10 PM
are you in the insurance business ace? :D

kinda :D but im more into banking and investments :D

* FeistyWench *
06-25-2006, 03:12 PM
kinda :D but im more into banking and investments :D
i see.
how old are you, if you do not mind me asking.

K-DOGG
06-25-2006, 03:13 PM
how much was your premium? for sure the premium amount you paid covers ONLY the book value. computations of premiums are based on the car model and year. every year your car depreciates and so as the premium.

Ace, I understand how the system works. I am complaining about the injustice of it and how it ultimately benefits the insurance company and not the client. If my car is worth $3,000, it is illogical for the fender and headlight setting, paint, and labor, to cost almost twice as much as the entire car is worth. That's what I meant by a "quarter of the car" being worth more than the car itself. It should be irrelevant how much a car is worth. If you are paying $80 a month or so on insurance and are with that company for 3 years or more without incident, you have given them a large sum of money. For them to declare your car totaled if it still runs...aka, the amount of money to repait your car is worht more than the Blue Book value of your car....in essence, they are FORCING you to buy another car, rather than fullfilling their obligations to a paying customer. My car is paid for...I don't want to buy another car if the frame is not damaged...that is my choice.

Fortunately, I "sweet talked" the appraiser...so my car wasn't totaled. However, I still didnt' get enough to repait it. You got to pick your battles.

Papa Ace
06-25-2006, 03:15 PM
i see.
how old are you, if you do not mind me asking.

29 going 30 in about a month :( damn imma gonna be 30ish

* FeistyWench *
06-25-2006, 03:19 PM
29 going 30 in about a month :( damn imma gonna be 30ish
not bad. i just turned 36, but definitely don't look or feel it.

you;re only as old as you act. :D

Papa Ace
06-25-2006, 03:25 PM
1. and how it ultimately benefits the insurance company and not the client. (Thats the bottomline why insurance companies exist :D)

2. That's what I meant by a "quarter of the car" being worth more than the car itself. (you have an appraiser problem)

3. If you are paying $80 a month or so on insurance and are with that company for 3 years or more without incident, you have given them a large sum of money - this is always the problem. we dont get to count how many we have given, since on the part of the insurance company they have insured your car and assumed the "risk" for 1,095 days (365 x 3yrs).

4. Fortunately, I "sweet talked" the appraiser...so my car wasn't totaled. However, I still didnt' get enough to repait it. You got to pick your battles. - thats what im about to advise you :D

................

Papa Ace
06-25-2006, 03:30 PM
not bad. i just turned 36, but definitely don't look or feel it.

you;re only as old as you act. :D

well thats good. there's always the kid in me, but im always on the serious side when im in work. actually i handle 15 people most of which are older than me, around 33 and 34 but i really have to show them who's boss. :D

* FeistyWench *
06-25-2006, 03:32 PM
well thats good. there's always the kid in me, but im always on the serious side when im in work. actually i handle 15 people most of which are older than me, around 33 and 34 but i really have to show them who's boss. :D
i'm sure you exude authority. lol! :cool:


i am nothing at work like i am in "real life".
i am very serious and professional.
a few special people who have gotten to know me outside of work are stunned at how playful i really am.

Papa Ace
06-25-2006, 03:37 PM
i'm sure you exude authority. lol! :cool:

am nothing at work like i am in "real life".
i am very serious and professional.
a few special people who have gotten to know me outside of work are stunned at how playful i really am.

well its always good when you can be playful when not in work. it eases out the pressures of the daily grind.

wait what do u mean by playful? :confused:

* FeistyWench *
06-25-2006, 06:22 PM
well its always good when you can be playful when not in work. it eases out the pressures of the daily grind.

wait what do u mean by playful? :confused:
lol! laid back, silly, funny, a bit fiesty/cheeky, down to earth, not uptight or serious. opposite of what i am at work.

MANGLER
01-07-2010, 03:25 AM
but i just don't understand how insurance works!
you pay every month for car insurance, health insurance, etc.
you could go decades never actually needing it, but once you do, they make you jump through hoops. in many cases they actually raise your premiums! and what is up with insurance companies deciding whether they should approve medical procedures and operations? they get to decide whether it is more profitable for them to "cure" you or to just pay for minimal treatment over the long run. it seems to me that if you pay for medical coverage for most of your life then you finally need a heart transplant or whatever, you should get it. it is medically necessary and you paid your dues!

like i said, maybe i am just too naive but i just don't get it.

Insurance is simply a ripoff. It's necessary and can save your ass, but on the whole, $ paid for insurance to benefits received is a **** ratio.