Insurance industry?

Question

How many of you saw that movie Sicko? How much of it about the insurance industry do you think is true? It sure does paint a dire picture.

Answer 1

Didn't see it, but if you made a movie about people getting sick and injured and having it paid for with no problem nobody would see it.  No industry is perfect, but more claims get paid without a hitch and in my last 16 years the majority of the people that have any problem are the ones that make a large claim 2 months into having a policy.  That's when the insurance company is most suspicious.

AND, let's not forget the the insurer.  Maybe they should make a movie about people making false claims against Medicare which is your tax dollars.  Or those who lie about a condition in order to get coverage in hopes that the insurance company would pay for it.  In other words, the consumer is to blame as well.

Answer 2

If it weren't for insurance companies, banks could not survive. Count your blessings for insurance companies.

Answer 3

I didn't see the film, but I did work in the Insurance business for a while.

In summary, it is little more than legalized fraud!

Answer 4

Sure....every one complains about insurance right up until the time they need it.  Every thing changes when they file a claim.

The people that bash insurance are people who are ignorant. They never took the time to find out what their policy covers......just assume that any and all bad things that happen are covered. They never took the time to up date their policy to make sure they had adequate amounts of coverage. They never actually read their insurance policy.

So, for any of those people reading this....here's the short and sweet version ---- insurance is not there to solve all your financial problems. Any time you commit insurance fraud (inflate a claim, claim injury you don't have, etc) you increase your premium. So, next time you tell a friend or family member to commit fraud....just open your wallet and hand them your money. Its the same thing.

Insurance companies are not charities. Like every other business out there....if they don't make a profit - they don't survive.

Insurance policies can not cover any and all bad things that happen. If they did -- it would be so expensive you could not afford it. So, the policies have to limit the scope of their coverage. That's why its a good idea to read your policy.

The purpose of insurance is to try and put you back where you were before the loss -- not better - not worse.

Answer 5

I never saw the movie but I am pretty sure that it bashes more of the health insurance problems not the life or disability insurances. But I want to make one thing clear I do not think the health insurance system is corrupt. For each operation or surgery that needs to be done there is a max amount that the hospitals can't charge the insurance company  more. We live in a capitalist society therefore we should have a capitalist health care system. Yes I understand Canada has free health insurance but Canadians pay 12% in taxes... The bottom line there is no free lunch.