Never before has the insurance industry faced such a cataclysmic onslaught of potential claims than they will begin to see in only a few decades from now. This is a crisis, which was set in motion by a rather innocent idea and has now turned into a greed-infested scheme. If left alone with no intervention, it will have us all looking back in 20-30 years wondering how and why we could of let this happen.
You don't think the insurance companies expect to pay out on policies by hnw seniors?
They would have to be idiots in underwriting to not expect those types of policies to have a high pay out rate, especially after all the years that life settlements have been around.
Very interesting. The assumption is that the insurance industry has a bunch of nitwits working from them with the job title of "actuary". If you really beleive that, then this is for you:
If I had a nickel for every time I was told the Insurance Industry was going to fold, I wouldn't have to sell any of it.
Remember?
The internet was going to close us down
Banks selling insurance was going to close us down
Not selling enough LTC was going to close us down
Discount cards were going to close us down
I sell primarily health-based products, and it has been the one insurance product that has NOT been duly affected by all these situations.
If I had a nickel for every time I was told the Insurance Industry was going to fold, I wouldn't have to sell any of it.
Remember?
The internet was going to close us down
Banks selling insurance was going to close us down
Not selling enough LTC was going to close us down
Discount cards were going to close us down
I sell primarily health-based products, and it has been the one insurance product that has NOT been duly affected by all these situations.
Oh, and don't forget the new one,
Universal health care is going to close us down.
Na, I don't think so.
If a person is in the financial services industry and is able to bob and weave with the times and circumstances there will always be a market there for you. However, there are some folks here who are just health insurance agents. If they are concerned that more and more states are going to go to guaranteed issue health insurance and their role/commission/need will become less and less then believe me they need to worry about it. Some of us live in states where it has already happened.
The difference is now you have a Republican president. If you get a Democrat president and 60 Democrat senators and the necessary votes in the House you will be able to pass what you want. Also, the majority of the people in this country want to live off other taxpayers!!....
That may be, but if the Democrats can't get us out of Iraq, then what makes them think they can shove Universal Health Care down our throats?
The health care coverage advocates are moving on more than one front. You have to watch what is going on in the states as well. Some states will just do nothing in the short term because the expectation is that something is going to happen on the national level. If nothing does happen though then the states will start piling on the mandates and guaranteed issue requriements, just as they did after it was clear that Hillary version 1.0 was not going to fly.
If they are concerned that more and more states are going to go to guaranteed issue health insurance and their role/commission/need will become less and less then believe me they need to worry about it. Some of us live in states where it has already happened.
Winter
How do health agents in states that have been already effected prosper?
If they are concerned that more and more states are going to go to guaranteed issue health insurance and their role/commission/need will become less and less then believe me they need to worry about it. Some of us live in states where it has already happened.
Winter
How do health agents in states that have been already effected prosper?
The difference is now you have a Republican president. If you get a Democrat president and 60 Democrat senators and the necessary votes in the House you will be able to pass what you want. Also, the majority of the people in this country want to live off other taxpayers!!....
Geez, I just found this resurrected thread. Am I glad that I did because if Mr. Bill's post of 9/20/07. I have been very concerned about alien abductions and did not know where to turn for advice and/or protection. A thousand thanks, Mr. Bill!!!
There maybe a lot of threats to insurance business but in facing reality, we have an increasing need for it because more and more people are now conscious on how to secure their life, health, family, assets and others. On the technical side, it maybe be necessary to improve the strategies in marketing in order to be competitive in selling policies of any kind.
Death of the Insurance Industry
Na, I don't think so.
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