Quote

Not surprisingly, the insurance lobby recoils in horror at the prospect of automatic coverage (including, when it was first proposed, Social Security), no matter how efficient it may be. Automatic coverage eliminates sales commissions and profit.

Andrew Tobias

Change background

T
T
T

Change font

TAGS & TOPICS

Andrew Tobias
Age: 77
Born: 1947
Born: April 20
Journalist
Writer
Including
Proposed
Security
Prospect
Recoils
Social
Coverage
Commissions
May
Sales
Eliminates
Firsts
Insurance
Recoil
Matter
Efficient
Lobby
First
Profit
Surprisingly
Horror
Automatic

More quotes by Andrew Tobias

Image
What kind of bank gives back 65 percent-often less-of what you deposit? Indeed, when you compare the services of a bank and an insurance company, common sense suggests something is out of whack.
Andrew Tobias
Image
Rule of thumb: The more trimmings an insurance plan has and the harder someone is pitching it, the faster you should run.
Andrew Tobias
Image
Life insurance is a commodity.
Andrew Tobias
Image
There are only two things as complicated as insurance accounting and I have no idea what they are.
Andrew Tobias
Image
Man's natural life span, 75 to 90 years or so, has not increased. It is the number of us who manage to attain it that has increased.
Andrew Tobias
Image
The best thing I have are 5 percent bonds from 1780, denominated from $1 to $20. As far as I can tell, they are obligations from the United States of America, so I should be able to walk down to the Federal Reserve and redeem the uncanceled ones. With 217 years of accrued interest, for a $20 bond, that's about $800,000.
Andrew Tobias
Image
It's very nice to be able to be who you are.
Andrew Tobias
Image
No wonder lawyers, who control the legal system, have fought so hard, and with great success, against no fault insurance. No fault, no lawsuits. No lawsuits, no lunch.
Andrew Tobias
Image
The life insurance industry is filled with good people who believe in their work and their companies, but who may never have challenged the assumptions underlying their efforts.
Andrew Tobias
Image
The industry cannot long offer unneeded or overpriced insurance if people will not buy it.
Andrew Tobias
Image
Hay fever suffers tend to be above average in intelligence.
Andrew Tobias
Image
Still, most people don't have much money. So finding ways to come out a couple of thousand dollars ahead every year still matters.
Andrew Tobias
Image
But successful investors tend to be not too self-destructive. They tend to be patient, they tend not to follow the crowd, and they tend not to be too guilty about winning.
Andrew Tobias
Image
The larger the deductible you choose, the less insurance you are buying. Insurers want to sell insurance.
Andrew Tobias
Image
Nobody wants campaign finance reform more than me. It would save me a fortune.
Andrew Tobias
Image
There's no such thing as altruism.
Andrew Tobias
Image
There's no question young drivers have far more accidents than older ones - but is it our aim to keep them off the roads? Or to allow only rich young people (who can afford the premiums) to drive?
Andrew Tobias
Image
In short: Readily available low-cost life insurance would be a threat to the industry, and whatever threatens the life insurance industry threatens America.
Andrew Tobias
Image
Summers are the best. And I figured summer was my best time for meeting someone, too, because in the summer people are looking for someone to snuggle up with for the winter. And because in the summer I could take off my shirt.
Andrew Tobias
Image
Now listen. You can't fool all the people all the time-- but I want you to try.
Andrew Tobias