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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
Never
Filled
Life
Industry
Assumptions
People
Effort
Underlying
Company
Challenged
May
Insurance
Work
Assumption
Believe
Efforts
Good
Companies

More quotes by Andrew Tobias

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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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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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There's no such thing as altruism.
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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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I think a lot of people would rather have more control over their life than less.
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Nobody wants campaign finance reform more than me. It would save me a fortune.
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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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You want 21 percent risk free? Pay off your credit cards.
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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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Hay fever suffers tend to be above average in intelligence.
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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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In short: Readily available low-cost life insurance would be a threat to the industry, and whatever threatens the life insurance industry threatens America.
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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?
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The industry cannot long offer unneeded or overpriced insurance if people will not buy it.
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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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Now listen. You can't fool all the people all the time-- but I want you to try.
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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.
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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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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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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.
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