No, it's the companies trying to milk the cost of doing what they're supposed to be doing. There's a reason why a certain insurance boss isn't around anymore.
Ya no it’s the one good thing California is doing insurance companies shouldn’t be able to do what they do. Charge insane amounts of money and raise it more when you need the insurance. They will drop you for no reason even when your bill is all paid up. They will just refuse coverage if it seems to be to expensive. Ya the insurance companies deserve it and I hope it becomes a national law
They are actually paying out fewer claims in that state… if you watched the video you’d see that the added regulation and therefore higher costs are causing less people to purchase
@Baylifebrokerage I did watch the whole thing and I'm pretty sure the biggest problem is that they don't want to cut their profit, not the regulations. There are plenty of routine things you can do to have updated information on the beneficiaries to avoid additional costs. Knowing the US those regulations are probably minimum anyway.
@@shadowcat311 yes it very much had to do with making a profit, all business is centered around that core idea…I’m not sure what your referring to about the beneficiary designations this was not a reason given for higher costs but if your central point is that businesses shouldn’t raise the price of their product irrespective of their increased cost to operate in that market, that would be a failing business….
@@Baylifebrokerage I was rejecting your conclusion that regulations are bad. You do realise that if these regulations has made the companies pay out life insurance more often it means that they've gone years not doing what they should've done in the first place.
@@Baylifebrokerage oh, and I was thinking about the additional time and cost it takes finding beneficiaries, it might not be a big cost but a cost nonetheless. I was just thinking about the practical side of it. Not important
No, it's the companies trying to milk the cost of doing what they're supposed to be doing. There's a reason why a certain insurance boss isn't around anymore.
No what? Not sure what your saying no to here…
Ya no it’s the one good thing California is doing insurance companies shouldn’t be able to do what they do. Charge insane amounts of money and raise it more when you need the insurance. They will drop you for no reason even when your bill is all paid up. They will just refuse coverage if it seems to be to expensive. Ya the insurance companies deserve it and I hope it becomes a national law
Very confused here what is it your saying the insurance companies deserve, to make peoples premiums higher?
Oh no, do they actually have to pay out life insurance that the dead person already payed for? So sad. 🙄
They are actually paying out fewer claims in that state… if you watched the video you’d see that the added regulation and therefore higher costs are causing less people to purchase
@Baylifebrokerage I did watch the whole thing and I'm pretty sure the biggest problem is that they don't want to cut their profit, not the regulations. There are plenty of routine things you can do to have updated information on the beneficiaries to avoid additional costs. Knowing the US those regulations are probably minimum anyway.
@@shadowcat311 yes it very much had to do with making a profit, all business is centered around that core idea…I’m not sure what your referring to about the beneficiary designations this was not a reason given for higher costs but if your central point is that businesses shouldn’t raise the price of their product irrespective of their increased cost to operate in that market, that would be a failing business….
@@Baylifebrokerage I was rejecting your conclusion that regulations are bad. You do realise that if these regulations has made the companies pay out life insurance more often it means that they've gone years not doing what they should've done in the first place.
@@Baylifebrokerage oh, and I was thinking about the additional time and cost it takes finding beneficiaries, it might not be a big cost but a cost nonetheless. I was just thinking about the practical side of it. Not important