The profusion of insurance ads flooding the airwaves illustrates the amount of money to be made by doing nothing other than collecting premiums and arguing over payouts. Ads for pets, life insurance, funerals, car and household insurance, in fact you can insure just about everything in order to have that warm glow of peaceful serenity to stave off a possible ruinous payout for an unforeseen accident… providing you have previously navigated the fine print.

This is how the bastards do it: First establish the average payout. Then make the excess just below that amount. Establish a “no claim” bonus and then start collecting the money. It’s foolproof, and if government legislation ever insists that you be socially responsible, pack your bags, close the company and start afresh elsewhere.

For example, it cost $25,000 PA to insure my Jetranger helicopter. The excess on any claim is $23,000 so clearly any repair cost below that amount I need to pay for myself. The average bingle in this chopper costs around $23,000, but most accidents are much smaller and must be paid for by the client.

Okay, so when a more serious accident repair costs, say $26,000, I need to pay the first $25,000 and claim the other $1,000 from the insurer. But hang on, if I claim that $1,000 then  I lose my no claim bonus, so naturally I pay for the lot. Despite paying a $25,000 insurance premium yearly it has now cost me a total of $51,000 as a result of being insured. 

Naturally I no longer have a chopper.

Insurance companies rely on these averages over time for their massive profits. Therefore if you choose to rely on averages too, and refuse to insure anything, the profits/savings will be yours and not the insurance company’s.

President Trump is currently underwriting (insuring) America’s Obamacare insurance companies with billions of dollars in taxpayer funds. He is desperately trying to decrease their premiums while at the same time maintaining their excessive profits to prevent them shooting through.

So let’s pretend there were no insurance companies… maybe insurance was against our religion or something. Would our NDIS or Obamacare or Trumpcare cease to exist? Not necessarily!

It’s possible to leapfrog the insurance companies and simply deal with the IRS, or in our case the ATO. The fact is that someone must pay for the eventual cost. So why allow the middlemen (insurers) to cream the system of billions when saving money for the client is at a premium, and at the same time we can ensure the cover is viable?

The over-staffed IRS and ATO could operate a simple computer program that made the adjustments through monthly income tax and/or entitlements. High earners pay more, poor people pay less… that is what governments want to achieve anyway and that’s the way it will always end up.

Payments up front, refunds, rebates, concessions, no claim bonuses etc could be made from internal revenue or a sequestrated super fund that pays bills directly to the medics and hospitals or refunds to the client. 

All costs are returned or adjusted via the taxation office back to the citizens who can now ignore the insoluble Obamacare and NDIS mess.

Everyone gets paid, everyone can get medical attention, (as they would anyway) and the government has complete control of hospitals’, medics’ and ancillary costs.

No underwriting of insurance companies for billions and the billions in profits they would otherwise make are now returned to the taxpayers or the tax office.

Suddenly insurance companies are unneeded and disappear, Obamacare and the NDIS become economically feasible and the rapacious insurers can go flog fake watches on a corner somewhere.

If you believe in averages then you shouldn’t believe in insurance.      

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rumpole36
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rumpole36

Well you two have a lot to learn then.

MaclomTrudbull
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MaclomTrudbull

Snap.

999
Member
999

Isn’t it interesting, in the unseen world of PP, how communication style and language reflects ones perceived physical image out to others. I guess the message is, if you don’t want to be seen as ugly, dumb etc. then don’t communicate in that way.

rumpole36
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rumpole36

Would you like to put money on that Dirty?

MaclomTrudbull
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MaclomTrudbull

Definitely female, fat with a short back and sides, rumple that is.

rumpole36
Member
rumpole36

Oh dear. They walk amongst us.

MaclomTrudbull
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MaclomTrudbull

dante, thanks for ruining my day. Now I’ll have to concentrate very hard to unthink that mental image of Winston and her mates “lathering up”.

999
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999

Ouch, too easy, LMAO. ZZZZzzzzzzzz

TonyH
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TonyH

Fuck off knobb! Go to bed with a mirror and wake up to yourself!

999
Member
999

Agree dante.

TH, you bore me. I have better things to do than waste my time on sycophant dullard like you. The snooze button on you has now been hit ZZzzzzzzz.

TonyH
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TonyH

No need for outing so called Oz Realist, I am a self professed fan of Abbott, and proud of it. Like him I was a volunteer fire fighter, I don’t live any where near the surf so I have never been a life saver, he has all the right enemies!! You goons prove it! You’ve got nothing! Just like Labor and the Greens NUTHIN! or is it that you lot may just be some of the 54 bed wetting types that knifed him? If you are not, you might be better expending your energies else where, like on the real… Read more »

dante
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dante

The trouble with Winston Oz is that she holds Abbott up like some people hold Elvis Presley up, as an Idol. You really can’t reason with that. I say let her be Oz. The trouble is that she won’t let go, is very annoying and gets people like rumpole and BK lathering which keeps her going. Best ignored I think.

Marco-eloco
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Marco-eloco

Chris please, I get embarrassed when I get compliments like that 🙂
Throw it all out and start again unless it can be proven 100%

999
Member
999

Dante, I think you’re right. It’s pointless trying to educate Cheerleaders! However, these types of debates are helpful in outing them as such. BTW, we all know the only thing that Cheerleaders are good for and Politicians love doing them and laughing at them and their lack of intelligence the most. Cheers:))

rumpole36
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rumpole36

Well said Winston. Of course it won’t get through to Dirty Harry, Oz Realist or dante, they are not too bright.

MaclomTrudbull
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MaclomTrudbull

rumpole 36 is another total moronic fool that is either too old to comprehend Abbott’s failings or he lives in a goldfish bowl. Maybe old rumple is female, that would help explain it’s idiocy.

rumpole36
Member
rumpole36

Dirty why are you always so obscene with your comments when all around maintain some semblence of decorum? I too believe that criticising Abbott puts you in the same patch as the socialist turnips. Abbott has done nothing to earn your hostoility to him, in fact quite the reverse, but some, especially those in the media and the socialist trolls on this site take offence if you disagree with their views, and as with all socialists they become abusive and use foul language to prove their point of view, which of course doesn’t achieve it’s objective.

MaclomTrudbull
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MaclomTrudbull

Again, fuckwits like TH keep insisting that to criticise Abbott automatically puts us in the Turnip patch. Fuckwit is not a strong enough term to apply to the deceitful arsehole.

TonyH
Member
TonyH

What wacky reference will replace it? And what wacky idea will come from it all? Odds are that the Turd, Short on brains , the Greens and every other luvvy going have already git pens at the ready to sign any stupid thing to be presented.

TonyH
Member
TonyH

Erdogan is a threat to world peace. Merkel and the rest of those dumbarsed One Europe scum bags are playing with fire, trying to entertain his wishes.

TonyH
Member
TonyH

T_W_O no need to be sorry for your views, some on this site are obviously blind to the truth. Their version of history is shaped as disciples of the Turd. You only have to mention Abbott’s name on this site and the same suspects appear out of the woodwork. Their man Turdbull is out and out failure, he is not even Abbott’s boot laces. He has lost grass roots support, he has lost sponsorship, he is replacing true conservatives with bed wetting leftards. If they don’t get rid of this fool they are gone forever. They have already lost the… Read more »

pelican
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pelican

sailor..yep its incredible..and CC..when they own the money presses..and have their own people in govt to be used as thieves to take back the equivalent of whatever they print at FACE value!!, plus interest!!..Houston we have a problem…..Govt in the Zio West is nothing more than a Mafia Standover Extortion racket

T_W_O
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T_W_O

If you think that, you must a have swallowed the MSM denigration of Tony, hook line and sinker. Sorry, but I don’t agree with you, Dante.

rumpole36
Member
rumpole36

dante you are pathetic, almost as bad as Oz Realist who is completely unrealistic. They dumped Abbott because he was down in polling and Turnbull convinced them he would be better but he wasn’t. Turnbulls polling figures are lower than Abbotts were when he sabotaged him.

dante
Member
dante

2, they dumped Abbott because he was such a disaster his hand picked collagues dumped him for fear of losing their jobs and Government. Unfortunately they picked another Rhodes Scholar loser and now we are in the same boat.

T_W_O
Guest
T_W_O

Dante, we could do a lot worse. Oh, we did ! ….we got that turd as a replacemnet PM, Crumble Bum, Turnbull,

MaclomTrudbull
Member
MaclomTrudbull

Why is it that these few Abbott sycophants always insist that criticism of their hero is an endorsement for the evil left? One has to wonder what they will find in the grey matter when the autopsy is performed.

dante
Member
dante

Oz, give it away. Winston is nuts and Tony not far behind.

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