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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

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Andrew Tobias
Age: 77
Born: 1947
Born: April 20
Journalist
Writer
Life
Industry
Assumptions
People
Effort
Underlying
Company
Challenged
May
Insurance
Work
Assumption
Believe
Efforts
Good
Companies
Never
Filled

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There's no such thing as altruism.
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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.
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One of the advantages of the book's having been out there for more than a quarter century is that there's been time for people to report back on what it's done for them.
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It's very nice to be able to be who you are.
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The life insurance policies advertised on the radio with the line You cannot be turned down for this coverage! are actually saying, For policies this small, it would cost us more to decide whom to turn down than simply to accept everybody - and make them pay through the nose.
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Still, most people don't have much money. So finding ways to come out a couple of thousand dollars ahead every year still matters.
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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.
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Now listen. You can't fool all the people all the time-- but I want you to try.
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Having no national system of catastrophic health insurance, we have, through the courts, managed to patch together pieces of a not very satisfactory one.
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People don't need to find reasons to justify their not giving. What they need to find is the inspiration to give. And those who don't, but could afford to, are missing out on one of wealth's greatest luxuries.
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The larger the deductible you choose, the less insurance you are buying. Insurers want to sell insurance.
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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.
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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.
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Rule of thumb: The more trimmings an insurance plan has and the harder someone is pitching it, the faster you should run.
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There were no jobs created in America from 1945, when the war ended, through 2003. How could there be? Taxes were too high. Preposterously so under Eisenhower, Kennedy, Nixon, Reagan (who left office with a 28 percent rate on long-term capital gains) and Bush the Elder.
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The first life insurance societies where formed in England in the years between 1692 and 1720. In America, life insurance became available to the clergy through the Presbyterian Ministers Fund, founded in 1759 (still in existence), and the Episcopal Corporation, founded ten years later (subsequently merged).
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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.
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Life insurance in America has traditionally been dominated by mutual insurers. Twelve of the fifteen largest life insurers are mutuals.
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The industry cannot long offer unneeded or overpriced insurance if people will not buy it.
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