Is Final Expense a Ripoff?

[Thedude]

i can teach you how to post gifs if you like.


Call me GIF POSTING MENTOR.


has a nice ring to it, eh?

 

[Rearden]

The Dave Abides....

 

[John Galt]

i can teach you how to post gifs if you like.


Call me GIF POSTING MENTOR.


has a nice ring to it, eh?

Pm me how you do that, I like it!

 

[Ron Van D]

Repeating lies will never change them into the truth.

While what you say is true, it has never stopped the Democrats from repeating and believing the what Clintons say!

 

[Todd King]

While what you say is true, it has never stopped the Democrats from repeating and believing the what Clintons say!

Oh come on, like the Republicans don't lie either? They all lie their asses off! It's called politics.

Not taking up for any party, but to single out one party as "the" liars is just crazy.

 

[Norwayguy]

Yes, but as soon as the client pays the 1st months premium they have placed the bet.

As easy as this...I'm betting the insurance company that I'm going to die before I've paid as much in as the face amount and they are betting that I'll live longer. Kind of sounds like gambling when you put it that way doesn't it?

Maybe you but I am hoping to lose the "bet".

 

[yorkriver1]

"Kind of sounds like gambling" is a far shot off from using the term professional gambling.

I personally would never use the term nor comparison because to me they are not similar in anyway to me. Gambling is about GAINS. Insurance is about covering your LOSSES in the event of something occurring (your death in FE).

How do you stop from losing money when gambling ? You stop gambling.

Stop paying your insurance? You now are not covering your losses.

At the core, they are different.


With your logic nearly everything can be placed into the "professional gambling category". Especially dealing with finance and investments.

Yep! Insurance is not gambling.

In the insurance agent licensing textbooks, (I have been a state certified insurance instructor since 2002) there is often a discussion about the difference between insurance and gambling. It has to do with the concept of indemnity, on which insurance is based. Indemnity seeks to put a person back to the financial or material position they were in before the loss. Most of the rules in insurance are to prevent people using insurance to gain more than they had before--or pay less than they should--or get insurance they don't qualify for--, in other words to cheat the system. Think about it, almost all the things we ask on apps and before apps and require folks to do (exams, APS, etc) have to do with making sure folks don't get more than the pricing of the insurance is intended to cover.

Gambling=possibility of gain or loss. Insurance=no gain, only making up for loss. Loss of a life, the purpose of life insurance.

We get to choose the amount of insurance to fill the financial loss the death would create. In FE, it's the funeral costs, and as someone else pointed out other expenses related to the death. Since the FE policy's premium won't increase and the death benefit is guaranteed, it's a great answer for some situations, even some people who could afford to pay for the funeral from savings. Maybe it's an emotional purchase to show love. I know of at least one such situation.

 

[runtilmylegsdrpoff]

^Interesting! Thanks for clarifying the difference between Insurance and gambling.