Kid i went to school with uploaded this video he made to teach you all a thing or two about insurance
[media]http://www.youtube.com/watch?v=ytJwu4UJ_hY&context=C40beb01ADvjVQa1PpcFOUBH7xT5EPhGa_KSkUTRJ9L4PAHtx3wXw=[/media]
Sounds like he didn't pay attention in class. He makes a lot of shitty arguments like putting money spent on insurance into shares which is really risky, and insurance covers a lot more than people put into it, especially when incidents occur a lot. Negative returns on insurance only occurs when nothing happens.
Plenty of insurance that will cover only so much, and by the time you need to use it, you'll have paid that much, even more. It's best in some cases to just save the money yourself
Insurance companies make money some how, and a lot of it. Every other commercial on TV here in the states is an insurance commercial. Simply Put, it's mostly a rip off
You ever see the ones. For just $15 a month, you can have a $500,000 life insurance policy.
Well, let's see, $15 a month, how many years would it take to reach 500 grand? Oh, only 2,777 Years. So how do they make money? This is just a legal scam, is all it is
If you save a $100 every month instead of paying the same to insurance companies, in a year you'll have $1200.
If your house burns down, those $1200 definitely won't save you while having insurance would.
[editline]11th March 2012[/editline]
That's why people get insurance. Because they have a family and they don't want to take risks. Not because they're being cheated into taking it.
If they wanted to play risky, they wouldn't get insurance in the first place.
Insurance doesn't charge you dollar for dollar of what they would cover though. There's many things insurance can cover that cost much more than what you've spent on the insurance itself.
I mean there's a reason they screen people and avoid anybody who's at a high risk of actually needing the money.
[QUOTE=TheTalon;35090395]Plenty of insurance that will cover only so much, and by the time you need to use it, you'll have paid that much, even more. It's best in some cases to just save the money yourself
Insurance companies make money some how, and a lot of it. Every other commercial on TV here in the states is an insurance commercial. Simply Put, it's mostly a rip off
You ever see the ones. For just $15 a month, you can have a $500,000 life insurance policy.
Well, let's see, $15 a month, how many years would it take to reach 500 grand? Oh, only 2,777 Years. So how do they make money? This is just a legal scam, is all it is[/QUOTE]
If an Insurance company has thousands or millions of people paying 15 dollars a month and only a small percentage of them actually have to use the insurance then it adds up pretty quick.
well in Britain you have to buy insurance by law.
[QUOTE=I ARE REPTAR;35090329]Kid i went to school with uploaded this video[/QUOTE]
Bull.
[QUOTE=Speedstream;35092092]Bull.[/QUOTE]
Here's his facebook: [url]http://www.facebook.com/profile.php?id=100001567810280[/url]
And his Tumblr full of incredible covers of hardcore songs: [url]http://come-hell-or-high-water.tumblr.com/[/url]
[QUOTE=I ARE REPTAR;35090329]Kid i went to school with uploaded this video he made to teach you all a thing or two about insurance
[/QUOTE]
Next time be more confidence in your poorly thought out argument.
[QUOTE=BusterBluth;35092448]Next time be more confidence in your poorly thought out argument.[/QUOTE]
Yeah my name is Adrian and the video was made by Aaron.
I don't understand what you're trying to say.
Why'd you remove half your comment?
[QUOTE=I ARE REPTAR;35092455]Yeah my name is Adrian and the video was made by Aaron.
I don't understand what you're trying to say.[/QUOTE]
I read the names incorrectly which is why I deleted that part of the post.
I just don't see any other reason you would post a very poorly thought out argument that some guy from your school made unless it was you yourself in the video.
Then again you could have not thought it out as well, its just usually when people say "some kid from my school" its the person who is posting it themselves.
[QUOTE=BusterBluth;35092496]I read the names incorrectly which is why I deleted that part of the post.
I just don't see any other reason you would post a very poorly thought out argument that some guy from your school made unless it was you yourself in the video.[/QUOTE]
I just thought you all needed to know about the corrupt insurance companies.
[QUOTE=I ARE REPTAR;35092511]I just thought you all needed to know about the corrupt insurance companies.[/QUOTE]
The argument you used didn't make any sense though. People pay into insurance company's to guard against accidents which would otherwise cost exuberant amounts of money. If you pay 15 dollars a month for fire insurance and your 200 thousand dollar house burns down the insurance has already payed for itself.
Your making the argument that there's no way an insurance company could be profitable off of this, which would be correct if the insurance company only insured 3 people. But these company's are insuring thousands of people, very few of who actually have accidents.
[QUOTE=BusterBluth;35092557]The argument you used didn't make any sense though. People pay into insurance company's to guard against accidents which would otherwise cost exuberant amounts of money. If you pay 15 dollars a month for fire insurance and your 200 thousand dollar house burns down the insurance has already payed for itself.
Your making the argument that there's no way an insurance company could be profitable off of this, which would be correct if the insurance company only insured 3 people. But these company's are insuring thousands of people, very few of who actually have accidents.[/QUOTE]
What are you talking about??
I didn't make the video, nor do i agree to what he has said.
I used the word "corrupt" as sarcasm. It was a joke.
Shit happens, and when shit happens I'm covered. My girlfriends brother got his car totaled last week from a dumb bitch who didnt know how to stop and sideswiped him. a couple hundred a year to have coverage that replaces that 20,000 dollar vehicle makes sense. If I had a 300,000 dollar home hell yes Id have insurance just in case that bitch ever burned down.
And what someone else said earlier, they make their money off of investments. People pay them their money, they invest it, and when accidents happen, they fight to not pay out unless it is strictly covered so they take more in than they let out.
[QUOTE=I ARE REPTAR;35092616]What are you talking about??
I didn't make the video, nor do i agree to what he has said.
I used the word "corrupt" as sarcasm. It was a joke.[/QUOTE]
Well if this thread was done to poke fun I do apologize. It seemed as though you where supporting him.
Holy no fucking shit he basically just described how insurance obviously works to ANYONE who has ever bought insurance.
What the fuck is this? So his main argument is that they give out less than they take so it's a negative investment? You fucking retard every fucking single business is about giving something and taking more for it. If you give away more than you take, you go bankrupt. Following that logic you should be a fucking amish.
And the "you give them more than you can take" is bullshit. It's true when you consider everyone, but when you take 1 person it changes. You can buy house insurance that can potentially pay you 10k for like 100, for a year. You'd have to buy it for 100 years without any accident to even it out. Chances are you are going to be buying it for like 50 years and nothing will happen or maybe something minor. And in the end you will loose money if you count it all. But if something major would happen at let's say 15th year, you'd have 1500 saved up compared to potentionally 10k. The only question is, are you lucky and careful enough?
[QUOTE=Valdor;35090692]Insurance doesn't charge you dollar for dollar of what they would cover though. There's many things insurance can cover that cost much more than what you've spent on the insurance itself.
I mean there's a reason they screen people and avoid anybody who's at a high risk of actually needing the money.[/QUOTE]
Yeah the kid in the video does not grasp why people use it. It is a safety net, for example car insurance covers mechanical failures, injuries, accidents, towing, total replacement, etc.
Paying 100 bucks a month is better then not paying, getting in to a major wreck and having to pay out of pocket for a new car.
s-*looks to the right then left* S-SUP DU-des
[QUOTE=Darwin226;35090428]If you save a $100 every month instead of paying the same to insurance companies, in a year you'll have $1200.
If your house burns down, those $1200 definitely won't save you while having insurance would.
[editline]11th March 2012[/editline]
That's why people get insurance. Because they have a family and they don't want to take risks. Not because they're being cheated into taking it.
If they wanted to play risky, they wouldn't get insurance in the first place.[/QUOTE]
People have paid thousands upon thousands to insurance companies here in Florida over the years, and then Hurricane Ivan comes along and destroys a lot of them, or heavily damages them. Guess what? Insurance companies refused to pay out, and made some claim such as 'You can't prove if it was Wind or Water damage, so we're not paying' And now they don't even offer insurance against hurricanes anymore
[QUOTE=TheTalon;35103657]People have paid thousands upon thousands to insurance companies here in Florida over the years, and then Hurricane Ivan comes along and destroys a lot of them, or heavily damages them. Guess what? Insurance companies refused to pay out, and made some claim such as 'You can't prove if it was Wind or Water damage, so we're not paying' And now they don't even offer insurance against hurricanes anymore[/QUOTE]
That's why you read the fucking agreement and choose a trustworthy company. If you don't do even one of these you're an idiot. You can't go "I have 10$/year insurance on my house, I'm protected from every danger possible :downs:" because there will be tons of "doesn't include..." in it or the company is shit in general and will do everything not to pay.
sup what's up dudes
In Georgia (im pretty sure in every state too) is by law that any driver has to have insurance for their car. and with the health bill coming up it is the same for health insurance.
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