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[–] KobeBurger 1 point 1 point (+2|-1) ago  (edited ago)

My term 25 is $25 a month. For 25 years that is $7,500. If I die, my wife and kids get half a mil and pay off the house, debts and top up the kids education funds. If I make it beyond that time, I cancel the policy and it was a good $300 per year to give me peace of mind.

[–] [deleted] 1 point 1 point (+2|-1) ago 

[Deleted]

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[–] KobeBurger ago 

No, mine was underwritten after I passed a full health screening. I die, it pays. The only way it wouldn't pay is if I committed suicide in the first 2 years, or don't pay the premiums. That 2 years was done over 10 years ago, and I'm not going to miss paying a $25 premium. The insurance you're talking about is either whole life or universal life, good if you have the bucks for it, for most people, they just need term insurance to cover a period of time of debt.

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[–] AngryInVirginia 0 points 1 point (+1|-0) ago 

It is similar to hedging an investment. In an ideal situation you are going to lose some money on it. But you are accepting that loss to cover your losses in the event that things do not go the way you had planned. I am not turning my back on something like that no matter how much of a sham people on this forum say it is.

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[–] KobeBurger 0 points 1 point (+1|-0) ago 

Exactly. They probably just came across someone who was trying hard to sell them the wrong kind of insurance because it pays a big commission.

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[–] everlastingphelps 1 point 1 point (+2|-1) ago 

1955 was still the gold standard. $35 an ounce. That means that a $1 deed was worth 0.028 oz of gold.

Gold is currently $1,733.80 an ounce. That makes the 0.028 oz worth $49.50 in current dollars, which is actually more than just notarizing now. The current $500 inspection would have cost (in gold) 0.288 oz, or $10 in 1955.

When you start thinking of things in gold, you will realize that most prices aren't going up (and a lot of things are going down) but rather, they are using inflation to make the dollars you have in your pocket worth less and make you run the rat race to constantly make more dollars. They want dollars to not be able to hold value, so you have an incentive to spend then right now rather than saving.

A car in 1955 cost around $1500 dollars. That's 42.85 oz of gold. At the current spot price, that's $74,305 worth of gold. See what I'm saying?

On the insurance front, it's not a bet. It's socialism. It's distributing the risk of something around to lots of people. It's not inherently bad when people are allowed to decide if they want to opt in. The problems come in when people either are forced into it by the state (auto insurance, mortgage regulations) or people are given it by someone else (employers buying health insurance.)

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[–] honk_atcha_boi ago 

That's not socialism. I really wish people would stop conflating government action and collective agreements as socialism. They're not. Socialism is communal control of the means of production, i.e, the strongest mob boss makes the profit and takes the goods.

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[–] AngryInVirginia ago 

A tip for people living in Virginia. Last time I checked there is a clause that allows you to drive without vehicle insurance. It is called the Uninsured Motorist Fee and is a fee that you can pay at the time of registration that allows you to drive the vehicle without insurance of any kind. Another tip for people living in certain parts of Virginia. Many people out there either do not have insurance or will drive away after hitting your vehicle and the police are not likely to do a damn thing about it.

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[–] Totally-Not-A-Troll ago 

We had a house fire and the damage was ~$60,000 which insurance paid. I figured out over the course of home ownership I had paid out about $60,000 in insurance money. I certainly did not hit a jackpot - but I would not have had $60,000 just laying around to cover the expenses either.

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[–] honk_atcha_boi ago 

If you had put that money aside, instead, you'd probably have had more.

Not that its relevant.

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[–] New-World-Ebola 0 points 1 point (+1|-0) ago 

nosejobs and paedophile island holidays aren't cheap.

you've been jewed

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[–] beefartist ago 

You own an expensive car, faggot

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[–] New-World-Ebola ago 

arab faggots in Australia used to stage fake car crashes to get insurance payouts... diversity has also made insurance a fucking ripoff.

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