Insurance Premium Quotes

Religion is the theological equivalent of a quick-buck insurance scam, where you pay in your premium year after year, and then, when you need the benefits you paid for so—pardon the pun—so religiously, you discover the company that took your money does not, in fact, exist.

Justice is the insurance which we have on our lives and property. Obedience is the premium which we pay for it.

Religion is the theological equivalent of a quick-buck insurance scam, where you pay in your premium year after year, and then, when you need the benefits you paid for so – pardon the pun – so religiously, you discover the company that took your money does not, in fact, exist.

I divested myself of despair and fear when I came here. Now there is no more catching one's own eye in the mirror, there are no bad books, no plastic, no insurance premiums, and of course no illness. Contrition does not exist, nor gnashing of teeth. No one howls as the first clod of earth hits the casket. The poor we no longer have with us. Our calm hearts strike only the hour, and God, as promised, proves to be mercy clothed in light.

Fewer and fewer large and medium-sized companies offer their workers full health-care coverage—74 percent did in 1980, under 10 percent do today. As a result, health insurance premiums, co-payments, and deductibles are soaring.

The Doctor. He grabbed hold of Rory's ankle, dragging him protesting out from under the table. 'Rory!' he grinned, wrapping him in an enourmous bear hug that squeezed the breath out of him. 'I've been you!' 'Right,' mumbled Rory. 'You've had a gorgeous time, I bet.' 'Not... especially, no.' The Doctor stepped back, his eyes were wide and dancing. 'Did you escape from any monsters? Did you set anything on fire? I'm always doing that. Honestly, one minute it's Tell Me Your Plans, the next it's BOOOM! My insurance premiums are terrible... Anyhow, you're all back to normal, yes?' 'Yes.' Rory was ever so tight-lipped. The Doctor nudged him with his elbow. 'Go on then. What was it like being me? Wasn't it just a bit brilliant? Did it open up your tiny mind?' Rory looked a little ill. 'It's nice to be me, actually. I'm not a hero... And what was it like being me?' he asked. The Doctor tugged at his braces, embarrassed. 'Oh, don't apologize - I'm sure I'll get over it.

Then I told myself that as I never gave the Church a thought when I was feeling happy, I could hardly expect it to do anything for me when I wasn't. You can't get insurance money without paying in premiums.

Master Ruem, a shipment has arrived,” Maroc says. “Premium packaging, express delivery, includes two-hundred-percent insurance. The sender’s address is Lotus Lodge, North Alpha.” He glances at the Mesmerizer from the corner of his eyes who now stops drinking. “It’s a grand piano. Decades-old model.” Maroc reveals.

But if you judge safety to be the paramount consideration in life you should never, under any circumstances, go on long hikes alone. Don’t take short hikes alone, either – or, for that matter, go anywhere alone. And avoid at all costs such foolhardy activities as driving, falling in love, or inhaling air that is almost certainly riddled with deadly germs. Wear wool next to the skin. Insure every good and chattel you possess against every conceivable contingency the future might bring, even if the premiums half-cripple the present. Never cross an intersection against a red light, even when you can see all roads are clear for miles. And never, of course, explore the guts of an idea that seems as if it might threaten one of your more cherished beliefs. In your wisdom you will probably live to be a ripe old age. But you may discover, just before you die, that you have been dead for a long, long time.

sham idealists: the quite large number of people who profess ideals as a form of premium for other-life insurance, and are content to lay up slavery and destitution for their descendants so long as they are enabled to produce personal copybooks of elevated views at the gate of heaven.

Climate change denialists are therefore engaged in intergenerational economic warfare on their own societies. They won’t witness the worst aspects of climate change—luckily for them they’ll die before they occur. But their children and grandchildren will be affected by them. The refusal of older people, and particularly old white males, to accept the need for climate action shifts costs that they themselves are causing onto their descendants, all of whom will pay higher prices, higher taxes and higher insurance premiums and enjoy poorer health, lower economic growth and fewer jobs because of climate change. Denialists are a form of economic parasite preying on their own offspring, running up a bill they’ll die before having to pay. And every year of delay increases the costs that future generations will have to bear.

Feinberg’s study reminds me of a billboard advertisement I once saw from a large insurance firm, which read: “Why do most 16-year-olds drive like they’re missing part of their brain? Because they are.” It takes deep sleep, and developmental time, to accomplish the neural maturation that plugs this brain “gap” within the frontal lobe. When your children finally reach their mid-twenties and your car insurance premium drops, you can thank sleep for the savings.

The humourless men seated round the table before me were part of the great industry of personal injury compensation, with its army of suave and accomplished lawyers and assured expert witnesses, rooting in a great trough of insurance premiums.

A credit default swap was confusing mainly because it wasn’t really a swap at all. It was an insurance policy, typically on a corporate bond, with semiannual premium payments and a fixed term. For instance, you might pay $200,000 a year to buy a ten-year credit default swap on $100 million in General Electric bonds. The most you could lose was $2 million: $200,000 a year for ten years. The most you could make was $100 million, if General Electric defaulted on its debt any time in the next ten years and bondholders recovered nothing. It was a zero-sum bet: If you made $100 million, the guy who had sold you the credit default swap lost $100 million. It was also an asymmetric bet, like laying down money on a number in roulette. The most you could lose were the chips you put on the table; but if your number came up you made thirty, forty, even fifty times your money.

Religion is the theological equivalent of a quick-buck insurance scam, where you pay in your premium year after year, and then, when you need the benefits you paid for so—pardon the pun—so religiously, you discover the company that took your money does not, in fact, exist.” That

At the same cost spent on occasional pizzas or dine outs, one can cover premium costs - for lasting protection - with insurance.

Tversky and Kahneman note that no one would buy probabilistic insurance, with premiums at a fraction of the cost but coverage only on certain days of the week, though they happily incur the same overall risk by insuring themselves against some hazards, like fires, but not others, like hurricanes.27 They buy insurance for peace of mind—to give themselves one less thing to worry about.

a perfect description of the “automatic cultural man”—man as confined by culture, a slave to it, who imagines that he has an identity if he pays his insurance premium, that he has control of his life if he guns his sports car or works his electric toothbrush. Today the inauthentic or immediate men are familiar types, after decades of Marxist and existentialist analysis of man’s slavery to his social system. But in Kierkegaard’s time it must have been a shock to be a modern European city-dweller and be considered a Philistine at the same time. For Kierkegaard “philistinism” was triviality, man lulled by the daily routines of his society, content with the satisfactions that it offers him: in today’s world the car, the shopping center, the two-week summer vacation. Man is protected by the secure and limited alternatives his society offers him, and if he does not look up from his path he can live out his life with a certain dull security: Devoid of imagination, as the Philistine always is, he lives in a certain trivial province of experience as to how things go, what is possible, what usually occurs… . Philistinism tranquilizes itself in the trivial…

But how would the American people have reacted if President Obama had said, In order to extend insurance to 14 million people, we’re going to jeopardize the health insurance of about 200 million Americans? Many of you will lose your policies, and your doctors. Others will see your premiums skyrocket. That is the absurd bargain at the heart of Obamacare. That’s why Gruber noted, rightly, that it could be passed only through deception.

I wonder what would happen if I tried the same reasoning on you. 'I have received your insurance premium invoice. My conclusion is this fee is not financially appropriate for you. It is my decision that you should be paid in bags of rocks deposited directly on your testicles. You may appeal this decision by screaming and hitting your head against a brick wall until you get tired, then read this letter again because I'm not fucking listening.

The Vicar isn’t High Church enough for confessions, and certainly most of me would have loathed to tell him or anybody else one word; but I did have a feeling that a person as wretched as I was ought to be able to get some sort of help from the Church. Then I told myself that as I never gave the Church a thought when I was feeling happy, I could hardly expect it to do anything for me when I wasn’t. You can’t get insurance money without paying in premiums.

...Religion is the theological equivalent of a quick-buck insurance scam, where you pay in your premium year after year, and then, when you need the benefits you paid for so--pardon the pun--so religiously, you discover the company that took your money does not, in fact, exist.

To my thinking the greatest advance in recorded medical history is the thirty-minute walk before breakfast. Premiums for life insurance are usually paid for the benefit of someone else. If you want any life insurance for yourself you had better pay the daily premium of a thirty-minute walk.

Did you ever think much about jobs? I mean, some of the jobs people land in? You see a guy giving haircuts to dogs, or maybe going along the curb with a shovel, scooping up horse manure. And you think, now why is the silly bastard doing that? He looks fairly bright, about as bright as anyone else. Why the hell does he do that for living? You kind grin and look down your nose at him. You think he’s nuts, know what I mean, or he doesn’t have any ambition. And then you take a good look at yourself, and you stop wondering about the other guy… You’ve got all your hands and feet. Your health is okay, and you make a nice appearance, and ambition-man! You’ve got it. You’re young, I guess: you’d call thirty young, and you’re strong. You don’t have much education, but you’ve got more than plenty of other people who go to the top. And yet with all that, with all you’ve had to do with this is as far you’ve got And something tellys you, you’re not going much farther if any. And there is nothing to be done about it now, of course, but you can’t stop hoping. You can’t stop wondering… …Maybe you had too much ambition. Maybe that was the trouble. You couldn’t see yourself spending forty years moving from office boy to president. So you signed on with a circulation crew; you worked the magazines from one coast to another. And then you ran across a little brush deal-it sounded nice, anyway. And you worked that until you found something better, something that looked better. And you moved from that something to another something. Coffee-and-tea premiums, dinnerware, penny-a-day insurance, photo coupons, cemetery lots, hosiery, extract, and God knows what all. You begged for the charities, You bought the old gold. You went back to the magazines and the brushes and the coffee and tea. You made good money, a couple of hundred a week sometimes. But when you averaged it up, the good weeks with the bad, it wasn’t so good. Fifty or sixty a week, maybe seventy. More than you could make, probably, behind agas pump or a soda fountain. But you had to knock yourself out to do it, and you were standing stil. You were still there at the starting place. And you weren’t a kid any more. So you come to this town, and you see this ad. Man for outside sales and collections. Good deal for hard worker. And you think maybe this is it. This sounds like a right town. So you take the job, and you settle down in the town. And, of course, neither one of ‘em is right, they’re just like all the others. The job stinks. The town stinks. You stink. And there’s not a goddamned thing you can do about it. All you can do is go on like this other guys go on. The guy giving haircuts to dogs, and the guy sweeping up horse manute Hating it. Hating yourself. And hoping.

Fraud in the insurance industry is calculated to be $100 billion to $300 billion a year, a cost that gets passed directly to consumers in the form of higher premiums. All told, combined public- and private-sector fraud costs every household in the United States probably around $5,000 a year—or roughly the equivalent of working four months at a minimum-wage job. A hunter-gatherer community that lost four months’ worth of food would face a serious threat to its survival, and its retribution against the people who caused that hardship would be immediate and probably very violent. Westerners

Another roadblock to opting for an insurance cover amongst the customers is that in case they do not claim, they get nothing back in return to the premium they invested. Hence they consider insurance to be a dead investment. They need to be educated that insurance is more like a social cause. Insurance by its very principles is collection of money by many to pay to a few, in their times of distress. Rather than considering it to be a passive investment, it should be treated as an active social participation where you are securing yourself as well as helping others in their direst times of need. Then it has a higher meaning and everyone feels good to be a part of it.

There was more than one way to think about Mike Burry’s purchase of a billion dollars in credit default swaps. The first was as a simple, even innocent, insurance contract. Burry made his semiannual premium payments and, in return, received protection against the default of a billion dollars’ worth of bonds. He’d either be paid zero, if the triple-B-rated bonds he’d insured proved good, or a billion dollars, if those triple-B-rated bonds went bad. But of course Mike Burry didn’t own any triple-B-rated subprime mortgage bonds, or anything like them. He had no property to “insure” it was as if he had bought fire insurance on some slum with a history of burning down. To him, as to Steve Eisman, a credit default swap wasn’t insurance at all but an outright speculative bet against the market—and this was the second way to think about it.

Take the New York–based Lemonade, arguably the best funded of today’s crowdsurance startups. Via an app, Lemonade brings together small groups of policyholders who pay premiums into a central “claim pool.” Artificial intelligence does the rest. The entire experience is mobile, simple, and fast. Ninety seconds to get insured, three minutes to get a claim paid, and zero paperwork. Adding more technology to this arrangement, companies like the Swiss firm Etherisc sell “bespoke insurance products” on the Ethereum blockchain. Because smart contracts remove the need for employees, paperwork, and all the rest, all sorts of new insurance products are being created. Etherisc’s first offering is something not covered by traditional insurers: flight delays and cancellations. Individuals sign up via credit card, and if their plane is more than forty-five minutes late, they’re paid instantly, automatically, and without the need for any paperwork.

• Auto and Homeowner Insurance—Choose higher deductibles in order to save on premiums. With high liability limits, these are the best buys in the insurance world. • Life Insurance—Purchase twenty-year level term insurance equal to about ten times your income. Term insurance is cheap and the only way to go; never use life insurance as a place to save money. • Long-Term Disability—If you are thirty-two years old, you are twelve times more likely to become disabled than to die by age sixty-five. The best place to buy disability insurance is through work at a fraction of the cost. You can usually get coverage that equals from 50 to 70 percent of your income. • Health Insurance—The number one cause of bankruptcy today is medical bills; number two is credit cards. One way to control costs is to look for large deductibles to lower your premium. The HSA (Health Savings Account) is a great way to save on premiums. The high deductible creates a much lower premium, and this plan allows you to save for medical expenses in a tax-free savings account.

YOU HAVE some money in a savings bank; you are contributing to your company’s 401( k) at the maximum rate allowed; you have equity in a home, if you want it; you’ve tied up $ 1,000 in bulk purchases of tuna fish and shaving cream; you have lowered your auto and homeowner’s insurance premiums by increasing your deductibles; you have adequate term life insurance; you’ve paid off all your 18% installment loans and insulated your attic—you have done, in short, all the things that scream to be done. Now what?

We remember when President Obama was defending the ObamaCare bill. He promised the American people that as a result of ObamaCare, the averagefamily's health insurance premium would drop $2,500. He said: That is going to happen by the end of my first term. I would point out that the President's first term ended 9 months ago, and by the end of the President's first term, that promise was proven not just a little off the mark, not just kind of sort of a little bit not entirely accurate; it was proven 100 percent, categorically, objectively false.   Let

This rip-off relied on a series of blatant lies. “If you like your health care plan, you can keep your plan.” “If you like your doctor, you can keep your doctor.” “The average family will save more than $2,400 per year.” “Health care costs will decline.” “Health care premiums will go down.” “Everyone in this country will now have health insurance.” Even though Obama kept saying these things, none of them was true. These statements were simply part of the con man’s “pitch.

Are millions of Americans out of work? Yes. Are millions of Americans struggling? Yes. Are millions of Americans seeing their health insurance premiums skyrocket? Yes. Are millions of Americans at risk of losing their health insurance because of ObamaCare? Yes.   But Washington tells our constituents: No, no, never mind. It can't be done. It cannot be done. It is impossible. The rules of Washington say this cannot be done.   And we wonder why this body has such low approval among the people. When we go out and tell the American people it cannot be done, there is nothing that can be done to stop ObamaCare, what we are saying is we are not willing to do it. We are not willing to stand and fight.   We

One reason why many types of technical analysis don’t work too well is because such methods are often applied indiscriminately. For example, if you see a head-and-shoulders pattern form in what is the market equivalent of a twenty-year-old, the odds are that the market is not likely to die so quickly. However, if you see the same chart formation in the market equivalent of an eighty-year-old, there’s a much better chance of that pattern being an accurate indicator of a price top. Trading the market without knowing what stage it is in is like selling life insurance to twenty-year-olds and eighty-year-olds at the same premium.” — Victor Sperandeo

A counterargument is that nonfunctional autistics who could benefit from a treatment and a cure but elect not to pursue either of them, are a financial burden on society, and on the healthcare system. Since things such as social services are paid for through taxes exacted on everyone, and since insurance premiums for all may be based on the spread out costs of treatments that are necessary for a select few, “normal” tax-paying people who may or may not have insurance policies ultimately pay a large percentage of the bill for the care of non-functional autistics even though they receive little or no benefit from this outflow of cash. At

However, with improvements in medical knowledge will come new ethical conundrums. Ethicists and legal experts are already wrestling with the thorny issue of privacy as it relates to DNA. Would insurance companies be entitled to ask for our DNA scans and to raise premiums if they discover a genetic tendency to reckless behaviour? Would we be required to fax our DNA, rather than our CV, to potential employers? Could an employer favour a candidate because his DNA looks better? Or could we sue in such cases for ‘genetic discrimination’? Could a company that develops a new creature or a new organ register a patent on its DNA sequences? It is obvious that one can own a particular chicken, but can one own an entire species?

The deep learning powering Ganesh Insurance’s apps has been trained to determine the likelihood that each insured may develop serious health problems, and then set premiums accordingly.

A peso you put in your insurance premium can give you hundreds or thousands of guaranteed benefits.

Paying your insurance premium is not the problem. Seeing the value of maintaining insurance is the biggest issue.

According to their filings with the Securities and Exchange Commission, most for-profit insurance companies maintain a medical loss ratio of about 80 percent, which is to say that 20 cents of every dollar people pay in premiums for health insurance doesn’t buy any health care.

Prepaid expenses are expenditures that have already been made for benefits that the company will receive in the near future. Examples of prepaid expenses are advances for insurance policies, rent, and taxes. Prepaid expenses are classified as current assets, not because they can be turned into cash, but because if they had not been prepaid, that cash would have to be spent within 12 months. Some prepaid expenses also result in cost savings, such as paying insurance premiums annually instead of monthly.

This rip-off relied on a series of blatant lies. “If you like your health care plan, you can keep your plan.” “If you like your doctor, you can keep your doctor.” “The average family will save more than $2,400 per year.” “Health care costs will decline.” “Health care premiums will go down.” “Everyone in this country will now have health insurance.” Even though Obama kept saying these things, none of them was true. These statements were simply part of the con man’s “pitch.” For progressives, Obamacare was a prize. The prize was control of the huge American health care system, representing virtually one-sixth of the whole economy. Obamacare put progressives in charge of more than 10 million doctors, dentists, pharmacists, nurses, and technicians and support staff. Obamacare gave progressives control of more than five thousand hospitals and almost a million hospital beds. The system included hospitals and also drug companies, insurance companies, and the producers of hospital equipment, not to mention research and educational institutions. Obamacare was a heist with a very big payoff.

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The tobacco settlement money went to lawyers and to governments, which effectively turned the money into a tax and then spent it on state bureaucracy. Regular folk did not receive any tax refund checks, nor did we see lower health insurance premiums, but we did pay more for everyday products not related to smoking. This means we are, in effect, paying billions of dollars in additional tax besides the billions in legal fees because of the tobacco settlement, as well as funding the next legal campaign to collect another large pay-day in contingency fees. It is very interesting to note during the tobacco suit that, while claiming various individuals were being victimized, or medical costs were mounting from misleading advertising or dishonest business practices, it was lawyers and governments, not the people nor their insurance companies, that collected all the loot. This the type of litigation did nothing to improve your life and it raised your cost of living.

Government inflation-protected securities (in the United States, these are Treasury Inflation-Protected Securities, or TIPS) A low-cost total U.S. domestic equity (stock) index fund, either a mutual fund or an exchange-traded fund (ETF—i.e., a sort of mutual fund that can be traded like stocks on an exchange) A low-cost total international equity index fund, either a mutual fund or an ETF Single-premium income annuities Low-cost term life insurance

There are many cheap car insurance that offers the usual coverage under reasonable charges. But to be able to get the right car insurance with an affordable premium charge, you need to know the minimum requirements.

Healthcare is America’s largest industry by far, employing a sixth of the country’s workforce. And it is the average American family’s largest single expense, whether paid out of their pockets or through taxes and insurance premiums. It

If I had booked a car service, it would have delivered me to Princeton ten minutes before the meeting. Instead, I chose to save $115, and lost a $125,000 opportunity in the process. You have to invest. The investments you make, of both time and money, demonstrate your confidence in what you are offering. The premium prices you pay are literally that: premiums. They are your insurance in your success. I overlooked that once. I never have again.

Sec. Particulars Amount 80C Tax saving investments1 Maximum up to Rs. 1,50,000 (from FY 2014-15) 80D Medical insurance premium-self, family Individual: Rs. 15,000 Senior Citizen: Rs. 20,000 Preventive Health Check-up Rs. 5,000 80E Interest on Loan for Higher Education Interest amount (8 years) 80EE Deduction of Interest of Housing Loan2 Up to Rs.1,00,000 total 80G Charitable Donation 100%/ 50% of donation or 10% of adjusted total income, whichever is less 80GGC Donation to political parties Any sum contributed (Other than Cash) 80TTA Interest on savings account Rs. 10,000 1              Tax saving investments includes life insurance premium including ULIPs, PPF, 5 year tax saving FD, tuition fees, repayment of housing loan, mutual fund (ELSS) (Sec. 80CCB), NSC, employee provident fund, pension fund (Sec. 80CCC) or pension scheme (Sec. 80CCD), etc. NRIs are not allowed to invest in certain investments, such as PPF, NSC, 5 year bank FD, etc. 2              Only to the first time buyer of a self-occupied residential flat costing less than Rs. 40 lakhs and loan amount of less than 25 lakhs sanctioned in financial year 2013-14 Clubbing of other’s income Generally, the taxpayer is taxed on his own income. However, in certain cases, he may have to pay tax on another person’s income.  Taxpayers in the higher tax bracket (e.g. 30%) may divert some portion

In home furnishing terms, past a certain point, more money doesn’t get you anything except an increase in insurance premiums. An

A higher deductible will mean lower premiums in all kinds of insurance—but you definitely wouldn’t want a deductible that is higher than your liquid cash fund.

Because of the risks, the insurance premium may not be

prepaid calling times issued is now required to be paid as an insurance premium in order to reduce the burden of insurance premium

Justice is the insurance which we have on our lives and property. Obedience is the premium which we pay for it. So Insurance will make our life perfect from all the way.

While this drama and destruction was keeping life interesting, it was playing merry hell with my insurance premiums. Plus, you try making a claim when the cause is ‘trashed by a vampire’.

If we focus on the substance, the evidence is overwhelming. This law is a train wreck. Every day the headlines come in: more jobs lost, more people losing their health insurance, more premiums going up, more people pushed into part-time work. Yet every day the Senate goes about its business and says: We are too busy to listen to the American people.   There

Medicare’s administrative costs are in the range of 3 percent—well below the 5–10 percent costs borne by large companies that self-insure, even further below the administrative costs of companies in the small-group market (amounting to 25–27 percent of premiums), and much lower than the administrative costs of individual insurance (30 percent).

Obamacare’s first years have been fraught with failure, but its future looks even more bleak. Big premium increases are coming this year and next for people who purchased health insurance on the Obamacare exchanges. Millions of others with coverage outside the exchanges lost their previous policies and now are facing double-digit premium hikes. Many Americans say the new policies they are forced to buy don’t meet their needs—with excessive benefit requirements and impossibly high deductibles. Congress is continuing to try to evade the law and exempt itself from key provisions, and your privacy is still at risk. We at Judicial Watch will continue to hold the government to account over this unfair and unworkable health care law and pressure the new president and Congress elected in 2016 to come clean and level with the American people on its deficiencies.

Revival: A Novel (Stephen King) - Your Highlight on page 75 | location 1013-1015 | Added on Sunday, 7 December 2014 23:00:46 Religion is the theological equivalent of a quick-buck insurance scam, where you pay in your premium year after year, and then, when you need the benefits you paid for so—pardon the pun—so religiously, you discover the company that took your money does not, in fact, exist.

I practiced in Australia for one year as a neurosurgeon, and my malpractice premiums were only $200 a year at that time. Compare this with the $300,000 malpractice insurance fee assessed on a litigation-free neurosurgeon in Philadelphia today.

Let’s take the example of life insurance. How can life insurance companies—some of the most conservative companies in America—insure people’s lives when they know they’re all going to die? • It’s risk they’re aware of. They know everyone’s going to die. Thus they factor this reality into their approach. • It’s risk they can analyze. That’s why they have doctors assess applicants’ health. • It’s risk they can diversify. By ensuring a mix of policyholders by age, gender, occupation and location, they make sure they’re not exposed to freak occurrences and widespread losses. • And it’s risk they can be sure they’re well paid to bear. They set premiums so they’ll make a profit if the policyholders die according to the actuarial tables on average. And if the insurance market is inefficient—for example, if the company can sell a policy to someone likely to die at age eighty at a premium that assumes he’ll die at seventy—they’ll be better protected against risk and positioned for exceptional profits if things go as expected. We do exactly the same things in high yield bonds, and in the rest of Oaktree’s strategies.

For example, vehicles monitor their drivers’ behavior and share the data with the algorithms of the insurance companies, which raise the premiums they charge “bad drivers” and lower the premiums for “good drivers.” The American scholar Shoshana Zuboff has termed this ever-expanding commercial monitoring system “surveillance capitalism.

The Leckwiths were excited about the Beveridge Report, a government paper that had become a bestseller. “Commissioned under a Conservative prime minister and written by a Liberal economist,” said Bernie. “Yet it proposes what the Labour Party has always wanted! You know you’re winning, in politics, when your opponents steal your ideas.” Ethel said: “The idea is that everyone of working age should pay a weekly insurance premium, then get benefits when they are sick, unemployed, retired, or widowed.” “A simple proposal, but it will transform our country,” Bernie said enthusiastically. “Cradle to grave, no one will ever be destitute again.” Daisy said: “Has the government accepted it?” “No,” said Ethel. “Clem Attlee pressed Churchill very hard, but Churchill won’t endorse the report. The Treasury thinks it will cost too much.” Bernie said: “We’ll have to win an election before we can implement it.

Permanent life insurance that builds cash value can be a great tool in this situation. The premiums are paid with after-tax dollars. The policy grows tax deferred, and you can access those cash values before or after retirement on a tax-free basis as long as it is structured properly. Upon your death, the death benefit is paid to your beneficiaries generally income tax free and, if you set it up properly, estate tax free.

The next time you go to the supermarket, look closely at a can of peas. Think about all the work that went into it—the farmers, truckers, and supermarket employees, the miners and metalworkers who made the can—and think how miraculous it is that you can buy this can for under a dollar. At every step of the way, competition among suppliers rewarded those whose innovations shaved a penny off the cost of getting that can to you. If God is commonly thought to have created the world and then arranged it for our benefit, then the free market (and its invisible hand) is a pretty good candidate for being a god. You can begin to understand why libertarians sometimes have a quasi-religious faith in free markets. Now let’s do the devil’s work and spread chaos throughout the marketplace. Suppose that one day all prices are removed from all products in the supermarket. All labels too, beyond a simple description of the contents, so you can’t compare products from different companies. You just take whatever you want, as much as you want, and you bring it up to the register. The checkout clerk scans in your food insurance card and helps you fill out your itemized claim. You pay a flat fee of $10 and go home with your groceries. A month later you get a bill informing you that your food insurance company will pay the supermarket for most of the remaining cost, but you’ll have to send in a check for an additional $15. It might sound like a bargain to get a cartload of food for $25, but you’re really paying your grocery bill every month when you fork over $2,000 for your food insurance premium. Under such a system, there is little incentive for anyone to find innovative ways to reduce the cost of food or increase its quality. The supermarkets get paid by the insurers, and the insurers get their premiums from you. The cost of food insurance begins to rise as supermarkets stock only the foods that net them the highest insurance payments, not the foods that deliver value to you. As the cost of food insurance rises, many people can no longer afford it. Liberals (motivated by Care) push for a new government program to buy food insurance for the poor and the elderly. But once the government becomes the major purchaser of food, then success in the supermarket and food insurance industries depends primarily on maximizing yield from government payouts. Before you know it, that can of peas costs the government $30, and all of us are paying 25 percent of our paychecks in taxes just to cover the cost of buying groceries for each other at hugely inflated costs. That, says Goldhill, is what we’ve done to ourselves. As long as consumers are spared from taking price into account—that is, as long as someone else is always paying for your choices—things will get worse.

Why?’ ‘People use them as a security device, to keep a track of the kids, anything really. I think some insurance firms even give lower premiums if you have one. Spy more, pay less, that kind of thing.’ ‘Yeah, well, I’m guessing Kirsty had no idea it was there,’ Matt said. ‘You’d have to be looking for it to find it, if you know what I mean.’ They were less than a mile away now from Daryl. But that mile just couldn’t zip by quick enough. ‘We’re nearly back at the house,’ Harry said. ‘What about you and Jen?’ ‘We were just about to head over to speak with Adam’s brother,’ Matt said. ‘Just to check up on what he saw up on the moors, the lights and whatnot. Just wanted to get this development to you first.’ ‘Right,’ Harry said. ‘Good job. Well, you crack on with that, see what Gary has to say. But get a message through to Jadyn to contact Swift and tell him what we’re up to.’ ‘Will do, Boss.’ Harry told Jim to hang up. ‘We’re nearly there,’ he said, dropping speed now as they passed into a residential zone.

Insurance companies collect premiums, of which a significant portion goes into reserves to pay future claims. This reserve (the “float”) earns money for Berkshire, leveraging the company’s return on capital.

Between 2003 and 2013, health insurance premiums for employer-provided health benefits rose by 73 percent—and workers’ share of that increase was 93 percent. Deductibles more than doubled.

In both health and life insurance, the premiums of the healthy cover the costs of the unhealthy. But the healthy end up paying unnecessarily high premiums for this privilege, making them the consistent losers of this particular game.

The Economics of Property-Casualty Insurance With the acquisition of General Re — and with GEICO’s business mushrooming — it becomes more important than ever that you understand how to evaluate an insurance company. The key determinants are: (1) the amount of float that the business generates; (2) its cost; and (3) most important of all, the long-term outlook for both of these factors. To begin with, float is money we hold but don't own. In an insurance operation, float arises because premiums are received before losses are paid, an interval that sometimes extends over many years. During that time, the insurer invests the money. Typically, this pleasant activity carries with it a downside: The premiums that an insurer takes in usually do not cover the losses and expenses it eventually must pay. That leaves it running an "underwriting loss," which is the cost of float. An insurance business has value if its cost of float over time is less than the cost the company would otherwise incur to obtain funds. But the business is a lemon if its cost of float is higher than market rates for money. A caution is appropriate here: Because loss costs must be estimated, insurers have enormous latitude in figuring their underwriting results, and that makes it very difficult for investors to calculate a company's true cost of float. Errors of estimation, usually innocent but sometimes not, can be huge. The consequences of these miscalculations flow directly into earnings. An experienced observer can usually detect large-scale errors in reserving, but the general public can typically do no more than accept what's presented, and at times I have been amazed by the numbers that big-name auditors have implicitly blessed. As for Berkshire, Charlie and I attempt to be conservative in presenting its underwriting results to you, because we have found that virtually all surprises in insurance are unpleasant ones. The table that follows shows the float generated by Berkshire’s insurance operations since we entered the business 32 years ago. The data are for every fifth year and also the last, which includes General Re’s huge float. For the table we have calculated our float — which we generate in large amounts relative to our premium volume — by adding net loss reserves, loss adjustment reserves, funds held under reinsurance assumed and unearned premium reserves, and then subtracting agents balances, prepaid acquisition costs, prepaid taxes and deferred charges applicable to assumed reinsurance. (Got that?)

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The rising cost of medical care has also been important; most employees receive health insurance as part of their overall compensation, and most research shows that increases in premiums ultimately come out of wages.16 Indeed, average wages have tended to do badly when health-care costs are rising most rapidly and to do better when health-care costs are rising more slowly.

To explain how a dApp works, we’ll use an example from the company Etherisc, which created a dApp for flight insurance to a well-known Ethereum conference. This flight insurance was purchased by 31 of the attendees.23 Figure 5.1 shows a simplified diagram. Using Ethereum, developers can mimic insurance pools with strings of conditional transactions. Open sourcing this process and running it on top of Ethereum’s world computer allows everyday investors to put their capital in an insurance pool to earn returns from the purchasers of insurance premiums that are looking for coverage from certain events. Everyone trusts the system because it runs in the open and is automated by code.

We are already seeing car insurance premiums linked to tracking devices in cars, and health insurance coverage that depends on people wearing a fitness tracking device. When surveillance is used to determine things that hold sway over important aspects of life, such as insurance coverage or employment, it starts to appear less benign. Moreover, data analysis can reveal surprisingly intrusive things: for example, the movement sensor in a smartwatch or fitness tracker can be used to work out what you are typing (for example, passwords) with fairly good accuracy [98]. And algorithms for analysis are only going to get better.

There was a watered-down version in the Senate Health and Education Committee bill, requiring any government-run insurer to charge the same rates as private insurers, but of course that would have defeated the whole purpose of a public option. My team and I thought a possible compromise might involve offering a public option only in those parts of the country where there were too few insurers to provide real competition and a public entity could help drive down premium prices overall. But even that was too much for the more conservative members of the Democratic caucus to swallow, including Joe Lieberman of Connecticut, who announced shortly before Thanksgiving that under no circumstances would he vote for a package that contained a public option. When word got out that the public option had been removed from the Senate bill, activists on the left went ballistic.

The Social Security Act—the name of the ACT is FICA, the Federal Insurance Contributions Act. Well, it was sold to the public as an earned right. Work, you pay an insurance premium, but you are not paying an insurance premium at all. You’re paying a tax, pure and simple. That’s what Social Security is. It’s a tax we pay so that people who are no longer able to work will be taken care of.

Hospitals cannot continue to hemorrhage. For the country as a whole, medical insurance premiums include a surcharge that pays for treating the uninsured. However, if the proportion of uninsured indigent patients exceeds a certain figure, a hospital has no choice but to close. In California alone, the heavy cost of free medicine for foreigners forced no fewer than 60 hospitals to shut down between 1993 and 2003; many others were on the verge of collapse. From 1994 to 2004, the number of hospital emergency rooms in the country as a whole dropped by more than 12 percent. In May 2010, Miami’s health care system was so strapped, it was considering closing two of its five public hospitals. This would mean laying off 4,487 employees and the loss of 581 acute-care beds. Experts explained that treating uninsured patients had stretched the system to the breaking point. Houston is a good example of a city whose hospitals are barely making ends meet. In the nation as a whole, about 15 percent of the population has no medical insurance, but Texas, with its large population of Hispanics, has the highest percentage at 24 percent. In Houston, the figure is 30 percent. The safety net cannot accommodate so many people who cannot pay. “Does this mean rationing?” asks Kenenth Mattox, chief of staff at Ben Taub General Hospital. “You bet it does.” There is such a crush at Houston’s emergency rooms that ambulances often wait for one or two hours before they can even unload patients. The record wait is six hours. Twenty percent of the time, hospitals end up sending patients to other hospitals, and some have died after being diverted. Politicians and businessmen pull strings so friends can cut in line. Americans who fall sick in Mexico do not get free treatment. The State Department warns that Mexican doctors routinely refuse to treat foreign patients unless paid in advance, and that they often charge Americans for services not rendered.

At 50, people are still looking for a stockbroker to work a miracle for them, but at 60 they start looking for an advisor to help them negotiate a truce with reality. Regardless of when people are actually planning to retire, 60 is psychologically the beginning of the end of the accumulation period in their lives, and the beginning of the beginning of the distribution phase.... Variable annuitization offers genuine hope to people who (a) need to live on more than six percent of their capital, (b) need their income to grow in some relation to equity returns, which have historically been more than three times the inflation rate, and (c) at the very, very least, need to be assured that some income will continue for their entire lives. Variable annuitization is the only chance these people have. ...If Americans understood how the capital markets actually work, most folks would choose variable universal life insurance over variable life and whole life as the cheapest form of permanent insurance they could buy for the long run. That's simply because the insurance cost of an insurance policy is a pure function of how much of its own money the insurance company has exposed. Since the policyholder's own cash value builds up most significantly over time - and therefore the insurance company's exposure falls further, faster - in variable universal policies than in other debt-based (or general account-based) contracts, the net premium dollars allocated to the purchase of the death benefit must be lower, at the end of the day. And the policyholder's equity must be commensurately greater.

As I travel around the financial services industry today, the most interesting trend I see is the one toward relationship consolidation. Now that Glass-Steagall has been repealed, and all financial services providers can provide just about all financial services, there's a tendency - particularly as people get older - to want to tie everything up... to develop a plan, which implies having a planner. A planner, not a whole bunch of 'em... You've got basically two options. One is that you can sit here and wait for a major investment firm, which handles your client's investment portfolio while you handle the insurance, to bring their developing financial and estate planning capabilities to your client's door. And to take over the whole relationship. In this case, you have chosen to be the Consolidatee. A better option is for you to be the Consolidator. That is, you go out and consolidate the clients' financial lives pursuant to a really great plan - the kind you pride yourselves on. And of course that would involve your taking over management of the investment portfolio. Let's start with the classic Ibbotson data [Stocks, Bonds, Bills and Inflation Yearbook, Ibbotson Associates]. In the only terms that matter to the long-term investor - the real rate of return - he [the stockholder] got paid more like three times what the bondholder did. Why would an efficient market, over more than three quarters of a centry, pay the holders of one asset class anything like three times what it paid the holders of the other major asset class? Most people would say: risk. Is it really risk that's driving the premium returns, or is it volatility? It's volatility.... I invite you to look carefully at these dirty dozen disasters: the twelve bear markets of roughly 20% or more in the S&P 500 since the end of WWII. For the record, the average decline took about thirteen months from peak to trough, and carried the index down just about 30%. And since there've been twelve of these "disasters" in the roughly sixty years since war's end, we can fairly say that, on average, the stock market in this country has gone down about 30% about one year in five.... So while the market was going up nearly forty times - not counting dividends, remember - what do we feel was the major risk to the long-term investor? Panic. 'The secret to making money in stocks is not getting scared out of them' Peter Lynch.

If your needs are not attainable through safe instruments, the solution is not to increase the rate of return by upping the level of risk. Instead, goals may be revised, savings increased, or income boosted through added years of work. . . . Somebody has to care about the consequences if uncertainty is to be understood as risk. . . . As we’ve seen, the chances of loss do decline over time, but this hardly means that the odds are zero, or negligible, just because the horizon is long. . . . In fact, even though the odds of loss do fall over long periods, the size of potential losses gets larger, not smaller, over time. . . . The message to emerge from all this hype has been inescapable: In the long run, the stock market can only go up. Its ascent is inexorable and predictable. Long-term stock returns are seen as near certain while risks appear minimal, and only temporary. And the messaging has been effective: The familiar market propositions come across as bedrock fact. For the most part, the public views them as scientific truth, although this is hardly the case. It may surprise you, but all this confidence is rather new. Prevailing attitudes and behavior before the early 1980s were different. Fewer people owned stocks then, and the general popular attitude to buying stocks was wariness, not ebullience or complacency. . . . Unfortunately, the American public’s embrace of stocks is not at all related to the spread of sound knowledge. It’s useful to consider how the transition actually evolved—because the real story resists a triumphalist interpretation. . . . Excessive optimism helps explain the popularity of the stocks-for-the-long-run doctrine. The pseudo-factual statement that stocks always succeed in the long run provides an overconfident investor with more grist for the optimistic mill. . . . Speaking with the editors of Forbes.com in 2002, Kahneman explained: “When you are making a decision whether or not to go for something,” he said, “my guess is that knowing the odds won’t hurt you, if you’re brave. But when you are executing, not to be asking yourself at every moment in time whether you will succeed or not is certainly a good thing. . . . In many cases, what looks like risk-taking is not courage at all, it’s just unrealistic optimism. Courage is willingness to take the risk once you know the odds. Optimistic overconfidence means you are taking the risk because you don’t know the odds. It’s a big difference.” Optimism can be a great motivator. It helps especially when it comes to implementing plans. Although optimism is healthy, however, it’s not always appropriate. You would not want rose-colored glasses in a financial advisor, for instance. . . . Over the long haul, the more you are exposed to danger, the more likely it is to catch up with you. The odds don’t exactly add, but they do accumulate. . . . Yet, overriding this instinctive understanding, the prevailing investment dogma has argued just the reverse. The creed that stocks grow steadily safer over time has managed to trump our common-sense assumption by appealing to a different set of homespun precepts. Chief among these is a flawed surmise that, with the passage of time, downward fluctuations are balanced out by compensatory upward swings. Many people believe that each step backward will be offset by more than one step forward. The assumption is that you can own all the upside and none of the downside just by sticking around. . . . If you find yourself rejecting safe investments because they are not profitable enough, you are asking the wrong questions. If you spurn insurance simply because the premiums put a crimp in your returns, you may be destined for disappointment—and possibly loss.

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So how do you make sure you’re covered if you need long-term care, without having to save up massive amounts of money you won’t spend if you don’t need nursing care? The answer: long-term care insurance. Look into it and you might discover that it costs less than you think, especially if you start paying premiums before you’re 65.