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Thread: Mortgage protection insurance

  1. #13

    Default Re: Mortgage protection insurance

    That is truly unfortunate. And things like that do happen.

    Having insurance won't stop bad things from happening or prevent people from making poor choices. It will however make insurance companies rich off the blood trade.

    Everyone will pay their due in the end, I would prefer my account is settled by a higher authority rather than the officially sponsored financial organization.
    100g

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  3. #14

    Default Re: Mortgage protection insurance

    If I choose keep an extensive gun collection in my home, should I:

    a) carry an insurance policy on it to protect my potential loss? (maybe, but that is a personal choice)

    b) require everybody else to carry a policy to protect my potential loss in case they go and do something stupid or have an accident with my gun collection?

    Of course option b would be better for all of society as whole so that nobody ever gets skinned knees, although I think some people would unhappy about being required to carry firearm insurance to protect my investment.

    But if it makes you feel better to absolve yourself of liability by paying a fee to a crooked organization, then I'll PM you my address.
    100g

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  5. #15

    Join Date
    Dec 2007
    Location
    inland Northwest
    Posts
    4,105

    Default Re: Mortgage protection insurance

    b, I agree insurance is a racket-the odds are never in our favor-always in the house's favor. when I think of all the insurance premiums I've shelled out over the years...and homeowners I've shelled out, and all the years I didn't need health insurance-didn't even meet the deductible most years early on-when I even had health insurance.....

    the odds are will never need the insurance to pay off-but when the need is there, the need is there-same as anybody else playing the odds-you play, you're playing based on the chance you'll need the payoff someday, people pay because even tho the odds are the need won't hit, but if it does, the need will be great. Not everybody who plays wins (ends up needing the payoff and getting it).

    I agree we shouldn't be needing insurance for the routine stuff including routine health care issues. Got a friend who has always only carried high-deductible health insurance for self and kids-she couldn't afford more as single mom-and she's an insurance agent herself.

    I've got a friend who declined to get Longterm Care insurance-plans on self-insuring when the time comes-but he also manages a family trust (an old banking family from 19th century-he didn't need to save it all in his one lifetime).
    "life can only be understood backwards, but it must be lived forwards" - soren kierkegaard

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  7. #16

    Default Re: Mortgage protection insurance

    Quote Originally Posted by burrocrat View Post
    No.

    But if you find yourself in that situation, I would reccomend respectfully explaining to the officer who you are and what you are doing, and that you aren't carrying insurance based on your moral requirements not to support graft and criminal enterprise. Then ask for a religious exemption and permission to proceed on your way.

    I have this friend, he tells me most often they will chuckle and issue a warning. The two times he has actually gotten a ticket have been relatively mild fines. One of them the justice of the peace waved the entire fine if he could provide proof of insurance by a certain date. It helped that the JP was also the local insurance agent.

    He also puts great effort into not being in a position to need, or need to show insurance, caution appears to be a pretty good form of insurance for avoiding accidents and getting pulled over. Who would have thought that? It is so much easier just to pay someone to protect you.

    It's a scam I tell you.

    must be a talker! lol i only knows how to talk to girls not how to talk to cops

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  9. #17

    Default Re: Mortgage protection insurance

    Disclosure: If the market spikes down on the open tomorrow I will own shares of Berkshire Hathaway class B. They own lots of cool stuff like trains and Geico insurance. I love them commercials.

    Maybe this thread will do some good, cause folks to evaulate and purchase appropriate levels of coverage (ideally from Geico).
    100g

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  11. #18

    Default Re: Mortgage protection insurance

    Oddly enough... GEICO is Government Employees Insurance Company... GEICO!

    http://en.wikipedia.org/wiki/GEICO
    Official Retirement Date: 06-31-2014!


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  13. #19

    Join Date
    May 2010
    Location
    Vancouver, USA
    Posts
    1,648

    Default Re: Mortgage protection insurance

    Quote Originally Posted by SkyPilot View Post
    Oddly enough... GEICO is Government Employees Insurance Company... GEICO!

    http://en.wikipedia.org/wiki/GEICO
    yea, and that's one of the 50 questions they ask you when putting together a rate package!
    - if you're USG employed, and which branch.
    And who owns them?
    Mr Charisma, Warren Buffet.
    Along with a good portion of the public employees uniform manufacturing companies.

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  15. #20

    Default Re: Mortgage protection insurance

    Quote Originally Posted by SkyPilot View Post
    Oddly enough... GEICO is Government Employees Insurance Company... GEICO!

    http://en.wikipedia.org/wiki/GEICO


    still love usaa for insurance

  16.  
  17. #21

    Default Re: Mortgage protection insurance

    Quote Originally Posted by law87 View Post
    still love usaa for insurance
    still hate insurance.
    100g

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  19. #22

    Default Re: Mortgage protection insurance

    Quote Originally Posted by burrocrat View Post
    still hate insurance.

    lol of course

  20.  
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