>>>>So anyway, I started doing research online. When I had some info and some questions I called up one of the insurance brokers who had contacted me -- a specialist in group coverage for individuals. What he told me is that if I fill out insurance applications honestly I will be declined by about any underwriter.
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>>>So it's like a loan, eh? To get one you just need to prove you don't need it.
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>>I'm sure most insurers operate on the same principle -- identify applicants who are more likely to file claims and either soak them or refuse to insure them. I suppose if you look at it in strict dollars and cents terms, in terms of profitability with no other factors, that's a rational approach. Wankers.
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>Why is that wankers?
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>To paraphrase Sam Ervin (I think, it might have been Ev Dirkson)
>"Insurance companies are not eleemosynary institutions"

Except... the original ideas of "insurance" was that you got lots of subscribers and spread the risk so that the (relatively) few who NEED to claim can do so while still leaving a profit ovrall for the insurer.

But the MBAs saw it your way and turned the whole thing on its head. Even to the point of arguing minor technicalities to deny a claim.

What do you think of the practise of insurers of calling a claim "paid" (in their stats, not on their bottom line) if the insured's limit is far less than the actual cost estimate? For example, a person needing a $250,000 operation has a limit of $150,000. Knowing he cannot get the balance needed they count that as an honoured claim!!!