Insurance Costs 8-7-24

The Insurance Industry is a single cell animal with no brain and 3 working parts. It collects Premiums, pays claims and increases premiums. 

Life insurance can be replaced by ensuring that your spouse has a high paying occupation. The best insurance is self-insurance. The Life insurance offered to employees of corporations is cheap and is a good burial and transition plan.

Car insurance costs can be reduced by moving from full coverage to Liability insurance only. Insurance costs vary by location and are based on risk. Locations with bad roads and bad drivers cost more.

Home insurance costs can be reduced by increasing deductibles. Insurance costs vary by location and are based on risk. Locations subject to hurricanes and tornados cost more.

Medical insurance costs can be reduced by increasing deductibles and reducing coverage. Insurance costs vary by location and are based on risk. Older Patients and patients with serious illnesses cost more.  Medicare C coverage is often not useful, because most premiums include the cost of medical care for your current treatment needs.

Insurance for home appliances and major auto repair costs is attractive to poor consumers, but is not a good idea.

Insurance requires a 30% risk fee to pay for spikes in benefits paid.

Norb Leahy, Dunwoody GA Tea Party Leader