I'm Studying To Become An Insurance Agent. My Study Book Says The Following: ....?
Dec 22, 2007 by Neither Republican nor Democrat | Posted in Insurance
My study engage says the following: "It's important to remember that insurance is a Dealing. Some people think of insurance as a service that helps people in times of insufficiency. Insurance companies operate to produce a PROFIT. Therefore, they want to collect more in premiums than they pay out in claims." Gravely - this is what it says.
Who do you think the insurance companies in the USA are going to care for: the insured or the insurance flock?
Both. If they don't care for their bottom contract with this year, they won't be around to care for the insured next year.
You can't seperate the two.
Companies that don't perturbation about their bottom line (all companies, not just insurance companies) are called, "Out Of Concern".
FWIW, keep in mind that insurance companies pay out in claims, for each dollar entranced in:
health - $.99
Homeowners - $.80
auto - $1.15
workers comp - $1.25
So you're NOT looking at gigantic profits here. Oh, and to compare, government health care - medicaid - pays out about $6 for every $1 infatuated in, in premiums (the taxpayers subsidize it), but about 80% of it is administrative costs. Sneakily insurers pay closer to 27% in administrative costs.
This is an unexacting one lol. Any business stays in business by making a profit. They have to pay their employees, their lawyers, and their creditors. An insurance business spends billions of dollars per year in claims, a lot of them bogus, and they could not do this honest by caring about individuals. After all why would you be charged premiums if they were just going to give the fortune away. Oh but wait where would they get the money to give away?
Thomas B | Dec 22, 2007
Insurance crowd obviously.
This is why I've been advocating national plans for things like the healthiness of our citizens. I understand insurance for nice tangible items like valuables and such. But unfortunately democracy (U.S.) promises the fact to vote but gives no rights on health.
People should not have to worry about elementary health expenses. thank you for your posting.
jmaat1 | Dec 22, 2007
Let's say that it was a amenities to help people....
It wouldn't be around very long to help folks if it didn't carry on at a profit. You can make a profit and still have a social conscience. That sounds like what you want to do.
aaron p | Dec 23, 2007
critically, are you in disbelief about that? did you think insurance companies were NOT profit? that they just handed out on Easy Street for no reason? of course they are a business, and like any other business, they WANT to require money and KEEP it. Maybe you should research the job your trying to get into BEFORE you get into it.
Queen B | Dec 23, 2007
Both. If they don't attend to for their bottom line this year, they won't be around to care for the insured next year.
You can't seperate the two.
Companies that don't pester about their bottom line (all companies, not just insurance companies) are called, "Out Of Corporation".
FWIW, keep in mind that insurance companies pay out in claims, for each dollar captivated in:
health - $.99
Homeowners - $.80
auto - $1.15
workers comp - $1.25
So you're NOT looking at colossal profits here. Oh, and to compare, government health care - medicaid - pays out about $6 for every $1 entranced in, in premiums (the taxpayers subsidize it), but about 80% of it is administrative costs. Surreptitious insurers pay closer to 27% in administrative costs.
mbrcatz17 | Dec 23, 2007
What Study Book For Property And Casualty INSURANCE?
Jan 02, 2009 by 00mar7 | Posted in Insurance
im exasperating to study for texas state insurance licensing in property and casualty.. is there one that you recommand or that could as likely as not help me..to learn the basics of insurance so i can take my test?
Find a set in your area, see if they have a test manual you could buy or borrow, they also may have online tests you can pay do do. The investigation and regulations are different in each State.
You could contact your State Insurance Auditor and ask if they have a booklet, they did for my Status.
Find a equip in your area, see if they have a test manual you could buy or borrow, they also may have online tests you can pay do do. The analysis and regulations are different in each State.
You could contact your State Insurance Auditor and ask if they have a booklet, they did for my Shape.
Best of luck, it's a nasty test!
linze2go | Jan 02, 2009
You should be buying your study materials as recommended on the Insurance Be influenced website.
If you want something further, I'm partial to the Kier series, or you can contact the TX Self-sufficient Agent Association, and they offer courses and stuy materials for on offer, also.
mbrcatz | Jan 02, 2009
California Life Only Insurance Exam: What Book Is Good To Study?
Jan 22, 2009 by mrxalex319 | Posted in Standards & Testing
I am entrancing the California Insurance Exam, what is a good book to study from? thanks!
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Both. If they don't care for their bottom contract with this year, they won't be around to care for the insured next year.