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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.
Andrew Tobias
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Andrew Tobias
Age: 77
Born: 1947
Born: April 20
Journalist
Writer
Threat
Cost
Short
Industry
Threatens
Whatever
Readily
America
Insurance
Would
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Life
Available
More quotes by Andrew Tobias
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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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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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.
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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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Nobody wants campaign finance reform more than me. It would save me a fortune.
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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 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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It's very nice to be able to be who you are.
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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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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 industry cannot long offer unneeded or overpriced insurance if people will not buy it.
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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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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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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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Life insurance is a commodity.
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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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