Personal Insurance

[Chris L]

You know, my crash the other day got me thinking (yes, I know and I'll clean it up later :D ), maybe it's about time I had some personal injury cover. I mean, if some guy with small penis or melted brain syndrome ran me down (or even if I stopped paying attention for a moment) and I couldn't work for a while I'd really be in deep sh*t.

I just got myself a policy that would pay $400/day up to $36,000 (I could survive for two years or so on that). It's only going to cost me something like $18/month. Even I can afford that! Think about it, it could save you a lot of stress later. :)

Oh no! Does this mean I'm finally growing up? :eek:

[*WildHare*]

Even children do smart things now and then :D Don't worry.

[Oscar]

What triggers the benefit payment? Do you recieve $400 while hospitalized, or while disabled? We have some policies that sound similar here in the U.S. They could be a life-saver or a money-waster depending on your luck, I suppose.

[Chris L]

Originally posted by Oscar
What triggers the benefit payment? Do you recieve $400 while hospitalized, or while disabled? We have some policies that sound similar here in the U.S. They could be a life-saver or a money-waster depending on your luck, I suppose.

It covers both of those areas. There's also an extra $150/day if I need to pay someone to "care" for me while it happens (i.e. if I am incapacitated). Anyway, I can cancel the thing at any time I like, plus I get the first 60 days free, so there's plenty of time to look for the 'catch'. :)

[Oscar]

Chris - I've heard a lot of scams in this area, so I asked. Your policy sounds like a good one to me. I just hope you never use it.

[Chris L]

Originally posted by Oscar
Chris - I've heard a lot of scams in this area, so I asked. Your policy sounds like a good one to me. I just hope you never use it.

So do I :) . Oh yeah, I may have forgot to mention, there's also no excess to pay on claims either (that's how some companies rip people off!).

[ljbike]

The thing that seems curious to me is that when we buy insurance, we are gambling that something bad is going to happen to us and they are gambling that it is not.
I hope none of us ever wins the bet.

[Oscar]

When you insure something, you aren't gambling. You're paying a bit of money to cover you in case something bad happens to you. The insurance company is the one rolling the dice. Just a little textbook knowledge.

Want a persuasive arguement against smoking? Highly paid pencil pushers at insurance companies have come to the conclusion that it costs twice as much to insure a smoker's life than a non-smoker. Hard cold numbers speak louder than public service announcements, sometimes.

[Bob G]

The policy sounds way too cheap. How does it define disability? Sometimes the definition is so restrictive that you are limited to collecting only if you are run over by a train at 2:00 a.m. while sitting in your living room.
Bob

[Chris L]

Originally posted by Bob G
The policy sounds way too cheap. How does it define disability?

It means "unable to work".

[Bob G]

"Unable to work" is too vague. If you are capable of selling pencils on a street corner you are not "Unable to work" . If that is how the policy is worded chances are it's totally worthless and any claim you make against it will be denied.

You need a policy that specifies that it insures you in your own occupation or even better is a policy that insures you based on your ability to produce an income.
Bob

[Chris L]

Originally posted by Bob G
"Unable to work" is too vague. If you are capable of selling pencils on a street corner you are not "Unable to work" . If that is how the policy is worded chances are it's totally worthless and any claim you make against it will be denied.

Thanks for your concern, but I did actually clarify this before signing up. It will pay out if I'm unable to do the job that I had at the time of being injured. Not that I plan on getting injured of course :D