Quote:
Originally Posted by Scanner
If my sister is struggling financially, I am not sure where you feel Americans are lacking in some core family value in that she should profit from my untimely death.
I'm sorry. . .while I am normally one to participate in questioning the status quo. . .I just don't get it.
I kind of know what you are saying - if the Fraternal Order of Police calls for a $50 donation telemarketing . . .apparently there are enough people who will part with their money, yet. . .maybe not help their grandchildren out with college.
Maybe that is peculiar that people put charity before family in America whereas perhaps China or India, the family clusters all finanical wealth.
But my sister wouldn't have any obligation to bury or cremate me or satisfy my debts. That would be born upon my wife and kids without having a father.
Another stat while we are throwing some around - America is the most overinsured nation out there.
We have travel insurance, accident insurance, whole life insurance, furniture extended warranties, yet. . .we are lacking insurance in health and disability as a whole, having that fall to Medicaid/Medicare and SSI.
Essentially the insurance industry wants to sell us stuff we don't really need and the stuff we really do need. . .well. . .they don't do such a good job of administering.
|
Being a former accountant for an insurance company, the reasoning behind the part of your quote that I bolded can partially be explained by potential liability (partially, not totally). Health & disability are open-ended on the claims side (with disability claims particularly having the potential to hang on for years and years) while the others you listed are much more defined. Granted, reinsurance mitigates some of the loss potential, but reinsurance on these lines is also expensive.