Is it true?

  • by Henry
  • Nov 11,2017
  • 24 answers

Is it true?


LIKE OR DISLIKE:

  

Insurance Answers (24)

Zakaria last week

no.

Help others find the most helpful reviews
Was this review helpful to you?  

One last week

Hi,
Insurance works and earns by computing the possibility of an event happening versus it not happening. These figures are then translated to monetary values to assess the feasibility of the possible policy. If it turns out to be feasible, meaning, if the chance of an event not happening is greater than the chance of it happening (for example, more healthy individuals than sickly individuals availing of health insurance) and bringing more income than expenses, the insurance company will proceed with submitting the draft policy to the insurance commission for approval before offering it to the public. This entire process involves studying the possible needs of their customers and limiting their benefits to make sure that the insurance policy is not abused and nobody earns by paying for it. It is a security tool and not an investment, unless your health insurance allows you to include value-earning premiums, in which case, you'll need to pay a higher premium. Since insurance underwriters can very well research and compute these possibilities, they are well-assured that even if the minority avails of expensive treatments, the company will stay in business. You might wonder, if that is the case, then why can they not target 100% of an event not happening? The answer is, because if that is the case, then the insurance policy is definitely useless because it does not answer to a specific need, and since customers will only respond to offers that they think will suit their needs, offering a useless policy would eventually result to loss. It has to be balanced. So don't worry if you're using the benefits of the policy. The entire customer base for that policy is sharing the burden and is keeping the insurance company in business. :)

Help others find the most helpful reviews
Was this review helpful to you?  

Steve last week

No

Help others find the most helpful reviews
Was this review helpful to you?  

Casey Y last week

Your mother has no clue about this issue and should stop spreading misinformation.

Help others find the most helpful reviews
Was this review helpful to you?  

Chad last week

Uuuuhh... no. Mom is misinformed.

Help others find the most helpful reviews
Was this review helpful to you?  

Mal last week

No that is just a lie

Help others find the most helpful reviews
Was this review helpful to you?  

mary last week

No that's not true

Help others find the most helpful reviews
Was this review helpful to you?  

Shaha last week

Yea, It is true.

Help others find the most helpful reviews
Was this review helpful to you?  

Scotland26 last week

No

Help others find the most helpful reviews
Was this review helpful to you?  

mehedi last week

i mean it is not right.

Help others find the most helpful reviews
Was this review helpful to you?  

abdul last week

No

Help others find the most helpful reviews
Was this review helpful to you?  

R K last week

no, it isn't. they might deny some claims if they think they aren't medically
necessary.

Help others find the most helpful reviews
Was this review helpful to you?  

Robert F last week

more likely raise your rates

Help others find the most helpful reviews
Was this review helpful to you?  

Boo last week

If you make too many claims on your home insurance they have the right to not renew ,however with medical insurance if a doctor says you need treatment that validates the proper use of your medical coverage. As long as you make payments they can't drop you because you become sick.

Help others find the most helpful reviews
Was this review helpful to you?  

sara last week

No that's not true

Help others find the most helpful reviews
Was this review helpful to you?  

John last week

No ida but America sucks

Help others find the most helpful reviews
Was this review helpful to you?  

Insurance Pickle.com last week

You're mine is incorrect. If we're the same age, in the same zip code, and buying the same plan...it's the same price. Doesn't matter if you don't use yours and I use mine daily. IF EVERYBODY uses their plan more than anticipated, then it goes up, but it goes up for everybody, not just those using it.

Help others find the most helpful reviews
Was this review helpful to you?  

babyboomer1001 last week

They do that but, not how you would expect. They raise the rates so ridiculously high that you have to cancel the policy.

Help others find the most helpful reviews
Was this review helpful to you?  

Judy last week

no

Help others find the most helpful reviews
Was this review helpful to you?  

H. Marie last week

no that is not true
insurance companies do have limits on some procedures they will pay but not your use of the insurance

Help others find the most helpful reviews
Was this review helpful to you?  

Post a Answer

Your comment was successfully posted!

Or use your account on Blog

Error message here!

Hide Error message here!

Forgot your password?

Or register your new account on Blog

Error message here!

Error message here!

Hide Error message here!

Lost your password? Please enter your email address. You will receive a link to create a new password.

Error message here!

Back to log-in

Close