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Evolution of the \"Fine Print\"
I am feeling cynical again. I would say these folks are continuously evolving the fine print on insurance policies such that one would likely go broke due to payout of legal expenses in trying to resolve a claim - all while the corporate headquarters buildings get glossier and fancier, and - the agents worry more about tee times. Yes I know that this has been going on for years.
Re: Evolution of the \"Fine Print\"
It's the insurance version of the old adage "the bank will only give you a loan if you don't need one."
The entire insurance industry is designed on the premise that policyholders pay in but don't ever get back. Witness the number of times people get dropped (or get major premium increases) after ONE claim. Insurance companies don't seem to accept that insurance is a gamble - nothing more and nothing less. If I take out a life insurance policy, I'm betting that I'm going to die youg. The insurance company is betting I won't. One of us is going to LOSE the bet, and the insurance companies don't think that's fair if it's them.