you get Richer as the Older You’ll Get

[boumalo]

Insurance companies are not dumb.

I agree. Especially the American insurance companies. That's why I hate them so much. And I am not just talking about the life insurance. Look at the Mediclaim / health insurance also. Is it even possible for a 80 year old to get a decent Mediclaim?

Buffet made a lot of money with his investments in the insurance business

I heard so many negative stories about insurance companies trying to steal my friends that I don't trust them much

[single-mom]

Yo don´t spent as much as you are young so your get richer.

[umair127]

Please don't hate me.

Insurance companies are not dumb.

The life insurance usually is to cover the mortgage or working income.

So its great if they purchased it when they were younger 30-50.

But if they are 80 and ask for life insurance... they will not get very far I promise you that.

Also again its the elderly person we are talking. Not their spouse or their children.

What if they have no children and no wife/husband ?

Its sad but it happens alot.

Kr,

Malcolm O

Well im talking about getting insurance when they are in there 40s and 50s, this is the secret of how people make money on there parents I know this jewish lady who did that on her father cause we all know men usually are the first ones to go.

[boumalo]

Please don't hate me.

Insurance companies are not dumb.

The life insurance usually is to cover the mortgage or working income.

So its great if they purchased it when they were younger 30-50.

But if they are 80 and ask for life insurance... they will not get very far I promise you that.

Also again its the elderly person we are talking. Not their spouse or their children.

What if they have no children and no wife/husband ?

Its sad but it happens alot.

Kr,

Malcolm O

Well im talking about getting insurance when they are in there 40s and 50s, this is the secret of how people make money on there parents I know this jewish lady who did that on her father cause we all know men usually are the first ones to go.

I don't understand what you are talking about

If you don't cheat or know better when you take an insurance you are ev<0

[tins]

Please don't hate me.

Insurance companies are not dumb.

The life insurance usually is to cover the mortgage or working income.

So its great if they purchased it when they were younger 30-50.

But if they are 80 and ask for life insurance... they will not get very far I promise you that.

Also again its the elderly person we are talking. Not their spouse or their children.

What if they have no children and no wife/husband ?

Its sad but it happens alot.

Kr,

Malcolm O

Well im talking about getting insurance when they are in there 40s and 50s, this is the secret of how people make money on there parents I know this jewish lady who did that on her father cause we all know men usually are the first ones to go.

In regards to life insurance: I'm not sure if you're just ignorant or trolling, but either way, I will educate you.
Insurance companies are for-profit businesses with a single goal...to make money for themselves and their shareholders. Some of the highest paid employees of any insurance company are the actuaries. They come out with actuarial tables giving the life expectancy for any particular person with any particular medical history (they are not legally able to make actuarial tables based on race or ethnicity). Insurance companies have access to the Medical Information Bureau and National Prescription database so that a consumer that "forgets" about something on their application, could be properly vetted. Insurance companies are also able to require an applicant to complete paramed exam up to a full physical as a condition of getting the coverage.
Everything is priced in when an insurance company makes a premium offer to the consumer. The insurance companies will make (roughly) the same profits off of a 30 year old, non-smoking, female as they would off of a 70 year old male smoker.
There is no such thing as pulling a fast one over on the insurance company (obviously I'm speaking in general, there will always be the occasional outlier).

[johnmatrix]

It should be that way but sometimes the older you get the less money you have as an income.. probably as an entrepeneur yeah more older you get more experience you have and u make more money

[bryant.coleman]

Buffet made a lot of money with his investments in the insurance business
I heard so many negative stories about insurance companies trying to steal my friends that I don't trust them much

Compare the average annual medical costs in the US / EU with those in Singapore / UAE / Hong Kong.etc. There is no difference in quality, but the former is almost 5 times more expensive than the latter. And the primary reason is those insurance companies.

[boumalo]

Buffet made a lot of money with his investments in the insurance business
I heard so many negative stories about insurance companies trying to steal my friends that I don't trust them much

Compare the average annual medical costs in the US / EU with those in Singapore / UAE / Hong Kong.etc. There is no difference in quality, but the former is almost 5 times more expensive than the latter. And the primary reason is those insurance companies.

There are insurances companies in Singapore UAE HK but less government, less taxes and less action of the state on the market

When the state intervenes the prices always go up, we saw that for the university tuition costs as well

[bryant.coleman]

There are insurances companies in Singapore UAE HK but less government, less taxes and less action of the state on the market

Well... don't know much about the healthcare sector in UAE / Hong Kong, but I can say with confidence that the taxes in Singapore are at the same level as those in the US. The only difference is that the Singaporean government prevents the medical sector from getting too much exploitative.

[umair127]

Please don't hate me.

Insurance companies are not dumb.

The life insurance usually is to cover the mortgage or working income.

So its great if they purchased it when they were younger 30-50.

But if they are 80 and ask for life insurance... they will not get very far I promise you that.

Also again its the elderly person we are talking. Not their spouse or their children.

What if they have no children and no wife/husband ?

Its sad but it happens alot.

Kr,

Malcolm O

Well im talking about getting insurance when they are in there 40s and 50s, this is the secret of how people make money on there parents I know this jewish lady who did that on her father cause we all know men usually are the first ones to go.

In regards to life insurance: I'm not sure if you're just ignorant or trolling, but either way, I will educate you.
Insurance companies are for-profit businesses with a single goal...to make money for themselves and their shareholders. Some of the highest paid employees of any insurance company are the actuaries. They come out with actuarial tables giving the life expectancy for any particular person with any particular medical history (they are not legally able to make actuarial tables based on race or ethnicity). Insurance companies have access to the Medical Information Bureau and National Prescription database so that a consumer that "forgets" about something on their application, could be properly vetted. Insurance companies are also able to require an applicant to complete paramed exam up to a full physical as a condition of getting the coverage.
Everything is priced in when an insurance company makes a premium offer to the consumer. The insurance companies will make (roughly) the same profits off of a 30 year old, non-smoking, female as they would off of a 70 year old male smoker.
There is no such thing as pulling a fast one over on the insurance company (obviously I'm speaking in general, there will always be the occasional outlier).

ok so I did a quote just to show you that you dont know what your really talking, met life quote, Ill over ball it for you  
so say my mom is 55 which is true, smoker yes, health is good.  20 year plan.  Knowing my family history we die very young, so this is a gamble.  Here we go ill over ball the quote to 150 Usd a month that Ill have to pay for her, for 100,000 return if she dies before the 20 years is up.  again a gamble.  so ill have to pay 36,000 USD over the course of those years.  How are they making any money from that?

P.S dont call me a troll when you are also in a sig campaign

[boumalo]

Please don't hate me.

Insurance companies are not dumb.

The life insurance usually is to cover the mortgage or working income.

So its great if they purchased it when they were younger 30-50.

But if they are 80 and ask for life insurance... they will not get very far I promise you that.

Also again its the elderly person we are talking. Not their spouse or their children.

What if they have no children and no wife/husband ?

Its sad but it happens alot.

Kr,

Malcolm O

Well im talking about getting insurance when they are in there 40s and 50s, this is the secret of how people make money on there parents I know this jewish lady who did that on her father cause we all know men usually are the first ones to go.

In regards to life insurance: I'm not sure if you're just ignorant or trolling, but either way, I will educate you.
Insurance companies are for-profit businesses with a single goal...to make money for themselves and their shareholders. Some of the highest paid employees of any insurance company are the actuaries. They come out with actuarial tables giving the life expectancy for any particular person with any particular medical history (they are not legally able to make actuarial tables based on race or ethnicity). Insurance companies have access to the Medical Information Bureau and National Prescription database so that a consumer that "forgets" about something on their application, could be properly vetted. Insurance companies are also able to require an applicant to complete paramed exam up to a full physical as a condition of getting the coverage.
Everything is priced in when an insurance company makes a premium offer to the consumer. The insurance companies will make (roughly) the same profits off of a 30 year old, non-smoking, female as they would off of a 70 year old male smoker.
There is no such thing as pulling a fast one over on the insurance company (obviously I'm speaking in general, there will always be the occasional outlier).

ok so I did a quote just to show you that you dont know what your really talking, met life quote, Ill over ball it for you  
so say my mom is 55 which is true, smoker yes, health is good.  20 year plan.  Knowing my family history we die very young, so this is a gamble.  Here we go ill over ball the quote to 150 Usd a month that Ill have to pay for her, for 100,000 return if she dies before the 20 years is up.  again a gamble.  so ill have to pay 36,000 USD over the course of those years.  How are they making any money from that?

P.S dont call me a troll when you are also in a sig campaign

I doubt she has more than 36% chance of dying before 75 and the money you gave us is worth more than the money you will get since you give it first

There are insurances companies in Singapore UAE HK but less government, less taxes and less action of the state on the market

Well... don't know much about the healthcare sector in UAE / Hong Kong, but I can say with confidence that the taxes in Singapore are at the same level as those in the US. The only difference is that the Singaporean government prevents the medical sector from getting too much exploitative.

Singapore has way more economic freedom; income tax in S ranges from 0 to 20% compared to 10 to 39.6% in the US and the marginal rates don't go up for way lower incomes in S

[counter]

As time goes by, the more experience you gain, the wiser you become.

Honestly I think the fact is if you put in the time in a particular field you will be paid better based on the experience you have acquired over time.  This is why I'm sort of on the fence and don't see a simple answer to this question.

[boumalo]

It should be easier to get rich when you are young and poor because you are smarter, healthier, stronger, you are ready to work harder for less money and you are more likely to innovate but rules, laws and the state protect those you have at the detriment of those you haven't so the rich get richer and the poor have a harder time to become rich than they would have in a free society

[bryant.coleman]

I doubt she has more than 36% chance of dying before 75 and the money you gave us is worth more than the money you will get since you give it first

Agreed. Life expectancy in the Western world is currently going over the 80 mark, and for the women, it is even higher. For example, the average life expectancy in the UK is 81.0 according to the WHO in 2013. For the women, it is 82.5 years. And who knows, in the next two decades it can go over 85 years as well.

[TaunSew]

Women outlive men due to socialized medicine, not their gender.
http://www.news.com.au/lifestyle/health/men-die-earlier-but-womens-health-gets-four-times-more-funding/story-fneuzlbd-1226794504245

Of course there are older studies which indicated that, back in the 1990s, women received about 9 times more.  The trend has been more money has been diverted to male health and men are starting to embrace healthier food choices but there's still a bias in socialized medicine, albeit this is trivial since socialized medicine is going to the shitters in most countries

[hanguyen]

It totally depends how smart you work.

[Born2Bwild]

It should be easier to get rich when you are young and poor because you are smarter, healthier, stronger, you are ready to work harder for less money and you are more likely to innovate but rules, laws and the state protect those you have at the detriment of those you haven't so the rich get richer and the poor have a harder time to become rich than they would have in a free society

Totally agree, but can't accept that young ones are smarter, than old ones, cause there are a lot of things in this world to learn about.

[bryant.coleman]

Totally agree, but can't accept that young ones are smarter, than old ones, cause there are a lot of things in this world to learn about.

You can say that the younger ones adapt to the new technology more quickly when compared to the middle-aged and elderly. And in today's job market, that matters a lot.

[boumalo]

Totally agree, but can't accept that young ones are smarter, than old ones, cause there are a lot of things in this world to learn about.

You can say that the younger ones adapt to the new technology more quickly when compared to the middle-aged and elderly. And in today's job market, that matters a lot.

The younger have a faster mind, better reflexes and coordination but the old have better experience

[kuroman]

well, the title is not totally wrong especially for middle class people, people mid and high middle class, that works as managing staff in companies, lawyers, doctors ....ect ect, tends to get higher salaries with experience that comes with age of course (it's not necessary always true but in general it is) and usually during the middle of the carrier, they get to buy house(s), flat(s) and stuff on a loan that they pay over the years, by the end of their career they usually have more than decent salaries, no loan to pay, living a decent life in a decent house and stuff, and they can afford more stuff by then, hence you seen people at their 60s just getting their Porsches or Ferraries, while when they were in the middle on their carriers they had your average sedan, is being in the high middle class can be considered as rich, well it's all about perspective really, but for the average joe it can be considered as rich