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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
Industry
Threatens
Whatever
Readily
America
Insurance
Would
Lows
Life
Available
Threat
Cost
Short

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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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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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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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There's no such thing as altruism.
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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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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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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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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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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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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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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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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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Nobody wants campaign finance reform more than me. It would save me a fortune.
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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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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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I was a writer for 'New York' magazine. I had been to business school, but what did I know? Still, everybody from the receptionists on up to the editor would ask me what they should do with their money.
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The first American insurance company was the Friendly Society for the Mutual Insurance of Houses Against Fire, founded in Charles Town in South Carolina, in 1735.
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