werepossum: Yes or No: Do you think it's a good idea for the wife and kid to live homeless so the (likely) multi-$Billion insurance company can save $100k so their multi-$Million dollar Exec's can get another .001c on their share price? All the while the family has been paying their monthly insurance? And the wife nor kid burned the place down, and the husband is now dead?
Take away the profits of the company, or whether they're legally entitled to the insurance payout. Do you think that's something you'd consider 'Right' or not?
Chuck
Either you're a complete moron, or you're 16, probably both.
1. An insurance policy is a contract. That contract likely includes a suicide provision or against fraud. You expect the company to honor the contract even if the policy holder wont? Fuck that.
Insurance isn't a guaranty, it is a hedge against risk. You can't create your own risk and expect somebody to hedge it. If this company honored the policy then ALL policies of people who intentionally set fire to their house, then killed themselves, would have to be paid.
Don't be dense.
2. Premiums are paid by ALL policy holders underwritten to common risk metrics (number of accidents, health of the policy holder, size of the house...etc). If they started honoring this they'd fuck up the risk metrics. Naturally, this would feed into the fact that risk metrics can't predict anything, thus, ALL policy holders are now more risky.
This means that ALL policy holders get fucked due to more systemic risk. So, not only do YOU pay for it in higher premiums (to cover this one asshole) you cover it for ALL assholes (since the ins. company can't sort out non-assholes from assholes).
3. Most insurance companies are owned by shareholders. Since ~80% of all stocks are owned by institutions and most of those are mutual funds or pensions, that means that reduced profitability fucks 80% of common shareholders. That means because this assfuck, like you, was a self-centered loser, everybody else (society) has to take a hit. Fuck him, fuck you.
Do you need anything else there sparky? Do you really expect to be taken seriously here with such obvious gaps in knowledge and logic?
Now get your pansy assed communist/anarchy bullshit out of here. This guy was a selfish coward and you're a fucking retard.