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lol if you think you can beat an insurance company
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Jul 18, 2016 18:57
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Kashuno posted:you won't make your money back Everyone dies, so as long as I outlive them I'll make my money. I agree there are outliers where they will die after a super long time, but there are also outliers where they will die after like a week lol. Also how is this insurance fraud? I am just a beneficiary of a claim.
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Jul 18, 2016 19:31
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MMM Whatchya Say posted:lol if you think you can beat an insurance company I dont have to beat them over a huge # of instances, just over a few specific instances. 5 people = $475,000 profit.
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Jul 18, 2016 19:34
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what about the monthly premiums you will be paying for all those policies?
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Jul 18, 2016 19:47
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JakeP posted:what about the monthly premiums you will be paying for all those policies? A monthly premium for a life insurance policy for 100k starts at 14 dollars a month. 5*14= 70 bucks a month to pay out
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Jul 18, 2016 20:24
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Tread carefully!
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Jul 18, 2016 20:27
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Although if you're seriously considering it. I'd talk to a few qualified insurance agents, I'm sure this does happen, but I imagine you have to jump through some legal hoops, and could potentially end up in a mess of trouble.
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Jul 18, 2016 20:28
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Semi-related story. Since I do payroll and work with benefits, I get to hear about people trying to cash in on life insurance policies. Sometimes there are beneficiaries, sometimes there aren't and it just goes to the next of kin if they are available, and sometimes grimy loons crawl out of the woodwork to get some poor dead worker's life insurance monies. My favorite case to date actually happened this year and a woman tried to claim she was married to her deceased mother to get access to her life insurance policy. Saddest case was a guy who isolated himself from his grimy family, died alone and not in a good way, and then his estranged family members all tried getting the policy. Both parents, his sister and her children, and like an uncle. Money makes people do crazy things.
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Jul 18, 2016 20:41
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Asiina posted:I was so sure Harry was going to pick smoking. Nah. Who wouldn't pick to play with liquid nitrogen.
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Jul 18, 2016 21:07
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MG3 posted:A monthly premium for a life insurance policy for 100k starts at 14 dollars a month. 5*14= 70 bucks a month to pay out I thought you were banking on 5 of the plans paying out. Are you saying take out 5 plans and hope one of them dies?
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Jul 18, 2016 21:09
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ah looks like I was right regarding legality of this
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Jul 18, 2016 21:10
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Amoeba102 posted:Nah. Who wouldn't pick to play with liquid nitrogen. I wouldn't! Also smoking seems more Harry's style. No spoilers on the pressure test, I'm gonna go home and watch it soon.
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Jul 18, 2016 21:11
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MG3 posted:Everyone dies, so as long as I outlive them I'll make my money. mistake number one now imagine I said that like megatron 
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Jul 18, 2016 21:27
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Thats like exactly what I'm talking about. Except making groups of them investment vehicles. Like stocks. Say you have a group of 40 people who have made you their beneficiary when they die. You break the groups up into groups of 10 people each: Healthy young (long term investment), Healthy old (medium term investment), Unhealthy young (shorter term investment), Unhealthy old (quickest return). When they buy stock in a group they are purchasing a portion of the profits, while also paying for a portion of the expenses of setting the whole business up. The longer the investment, the more money it pays out %wise of the total. Shorter term investments pay out less %wise.
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Jul 18, 2016 21:27
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This is only a thought experiment, not an actual business I intend to pursue. Though I have been trying to figure out how to incorporate this idea into a short piece of fiction.
MG3 fucked around with this message at 21:31 on Jul 18, 2016 |
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Jul 18, 2016 21:28
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MG3 posted:This is only a thought enterprise, not an actual business I intend to pursue. Though I have been trying to figure out how to incorporate this idea into a short piece of fiction. already been done (@chaoslord)
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Jul 18, 2016 21:30
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Birdstrike posted:already been done Everything's already been done, dingus
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Jul 18, 2016 21:30
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MG3 posted:Thats like exactly what I'm talking about. Dude insurance companies make money. Like you can't really use this as an effective investment system because you'd be paying premiums to the company, so at the minimum you'd lose based on time value of money.
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Jul 18, 2016 21:40
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CCKeane posted:Dude insurance companies make money. Like you can't really use this as an effective investment system because you'd be paying premiums to the company, so at the minimum you'd lose based on time value of money. But what if you become the worlds best PI and through your powers of observation and stalking you are able to spot people that live so dangerously that you can tell that they're going to die within a week. E ven if they were 100% heathly and no one could ever guess. Even the insurance companie docs are like "We HAD NO CLUeeee~~~" and you're like BLAMO, cash money out the hoo-haa. Then would it be viable?
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Jul 18, 2016 21:43
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MG3 posted:But what if you become the worlds best PI and through your powers of observation and stalking you are able to spot people that live so dangerously that you can tell that they're going to die within a week. E ven if they were 100% heathly and no one could ever guess. Even the insurance companie docs are like "We HAD NO CLUeeee~~~" and you're like BLAMO, cash money out the hoo-haa. No because 1) you would immediately go under investigation 2) your payout would be a pittance
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Jul 18, 2016 21:45
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MG3 posted:But what if you become the worlds best PI and through your powers of observation and stalking you are able to spot people that live so dangerously that you can tell that they're going to die within a week. E ven if they were 100% heathly and no one could ever guess. Even the insurance companie docs are like "We HAD NO CLUeeee~~~" and you're like BLAMO, cash money out the hoo-haa. Well sure, legality aside. That said it certainlty seems like you'd get better ROI pursuing other opportunities.
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Jul 18, 2016 21:45
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Kashuno posted:No because 1) you would immediately go under investigation 2) your payout would be a pittance 1. Under investigation for what? Observing someone and then entering into a mutually beneficial agreement with them? 2. Payout would be 100k, why would it be smaller than that? You're allowed to look at someone, just not allowed to freak them out in two different places. MG3 fucked around with this message at 21:49 on Jul 18, 2016 |
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Jul 18, 2016 21:46
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It would be suspicious if the people you take policies out on keep turning up dead.
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Jul 18, 2016 21:51
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Your Personal Muse posted:It would be suspicious if the people you take policies out on keep turning up dead. They'd be allowed to be suspicious of me, but I've literally done nothing wrong other than be able to predict someone's bad lifestyle and choices are going to lead to their death.
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Jul 18, 2016 21:52
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MG3 posted:But what if you become the worlds best PI and through your powers of observation and stalking you are able to spot people that live so dangerously that you can tell that they're going to die within a week. E ven if they were 100% heathly and no one could ever guess. Even the insurance companie docs are like "We HAD NO CLUeeee~~~" and you're like BLAMO, cash money out the hoo-haa. just recruit out of TCC and you will make a killing
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Jul 18, 2016 21:55
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MG3 posted:They'd be allowed to be suspicious of me, but I've literally done nothing wrong other than be able to predict someone's bad lifestyle and choices are going to lead to their death. and insurance fraud
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Jul 18, 2016 21:56
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JakeP posted:just recruit out of TCC and you will make a killing looool
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Jul 18, 2016 21:56
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JakeP posted:just recruit out of TCC and you will make a killing That's an idea.
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Jul 18, 2016 21:57
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JakeP posted:and insurance fraud I dont see how it'd be insurance fraud tho' I thought the link AA posted was showing a specific agreement you can take up with the person to make me a beneficiary. Nevermind I'm a dummy and didn't read it closely. Haha. So it would be fraud. I don't see how it's fraud as long as all parties involved know that they insurance claim is happening between two parties who have no relationship. Maybe I should go to some Cayman Island Life Insurance companies lol MG3 fucked around with this message at 22:01 on Jul 18, 2016 |
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Jul 18, 2016 21:58
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MG3 posted:I dont see how it'd be insurance fraud tho' I thought the link AA posted was showing a specific agreement you can take up with the person to make me a beneficiary. I could make an argument as a lawyer man that you defrauded the insurance company by not revealing all relevant information; i.e. the dude was going to die.
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Jul 18, 2016 21:59
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I am almost positive there is a duty of good faith and fair dealing since it is a contract but I am not a lawyer man yet so please don't take that as advice.
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Jul 18, 2016 22:00
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Your Personal Muse posted:I could make an argument as a lawyer man that you defrauded the insurance company by not revealing all relevant information; i.e. the dude was going to die. I'm just the beneficiary, I wouldn't be doing anything other than accepting the money. The policy is in the other guys name and he is the one that has to disclose his information about his health and stuff. I don't have to tell them anything about why I want it I wouldn't think.
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Jul 18, 2016 22:02
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Your Personal Muse posted:I am almost positive there is a duty of good faith and fair dealing since it is a contract but I am not a lawyer man yet so please don't take that as advice. Yeah but I'm not a doctor so why would they care to ask my opinion about the person's health? Plus how could anyone prove that I knew that they were going to die. Proving someone knows something would be super duper hard in court. Especially when the person they're trying to prove knows things is me.
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Jul 18, 2016 22:03
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MG3 posted:I'm just the beneficiary, I wouldn't be doing anything other than accepting the money. The policy is in the other guys name and he is the one that has to disclose his information about his health and stuff. I don't have to tell them anything about why I want it I wouldn't think. You would have to reveal all relevant information to them. It would be like if you had cancer, knew you had cancer, yet did not disclose. Same here, it might not be a disease but someone is going to die soon and you know it.
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Jul 18, 2016 22:04
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MG3 posted:Yeah but I'm not a doctor so why would they care to ask my opinion about the person's health? Plus how could anyone prove that I knew that they were going to die. Proving someone knows something would be super duper hard in court. Especially when the person they're trying to prove knows things is me. They would not be able to if it happened once. But if you did it more than say three times it would be very easy to prove. Plus, even if what I'm saying is wrong, they could just...not accept anymore claims from you.
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Jul 18, 2016 22:05
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Your Personal Muse posted:You would have to reveal all relevant information to them. It would be like if you had cancer, knew you had cancer, yet did not disclose. Same here, it might not be a disease but someone is going to die soon and you know it. The only information I would have would be pictures I took with my eyes processed with my brain and interpolated. Then extracted an opinion from, and again why would they care about my opinion? I'm just some dumb guy. It's like if Doctor house decided instead of using his abilities to cure diseases he instead used his powers of observation and deduction. . . FOR EVIL!
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Jul 18, 2016 22:07
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be honest people, I can't be the only one here with a policy out on MG
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Jul 18, 2016 22:08
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Your Personal Muse posted:They would not be able to if it happened once. But if you did it more than say three times it would be very easy to prove. Plus, even if what I'm saying is wrong, they could just...not accept anymore claims from you. by then he will be a billionaire, and I will take a life insurance policy out on him
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Jul 18, 2016 22:09
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I got the idea from sealab
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Jul 18, 2016 22:09
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Holy poo poo mailing stuff is expensive. Send a letter with a button in it? $9 gently caress off.
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Jul 18, 2016 22:31
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