This famous quote from the movie "Jerry Maguire" is known all around the world, sadly enough it's not a sentence many of us get to say, in fact it is more a sentence we're hearing more. In the current financial crisis we all face difficult times, people are losing their jobs, their homes and their hopes. Everyone is craving for a bit of good news, though it does not seem to come.
Neither in this blog, although not for the moment. When I was reading the newspaper I stumbled upon an article that said that in the near future the prices for insurance will rise. Like many others, I really don't enjoy paying them, but they do seem to offer peace of mind, the belief that when something bad happens we have buffer to lean on to.
It seems that the financial crisis has struck the insurance companies too. For that there's quite a logical explication, people who lost their job and who are facing financial problems, try to cut the costs and do so by stop paying their insurance premiums. This means that the insurace companies receive less income and gain less profit.
But do not fear, the management and CEO's of the insurance companies have found a truly brilliant solution. Why not squeeze the money out of the people who can still afford insurance. Ingenious plan!
But best of all is that these companies portray themselves as the victim in the crisis. They lost capital because of the financial crisis, premiums were low during the past three years, etc... I personally believe they can go "bleep" themselves, each individual knows that what goes up essentially must come down. So when you make a lot of money, save some for a rainy day.
But what can we do about it? Nothing! I know that when the bills come, I'll pay them, because I need my peace of mind. I need to be sure that everything is arranged and so does everyone!
Nathalie COUDEVILLE
Source: http://www.nieuwsblad.be/Article/Detail.aspx?ArticleID=GAP26MMRK
In my opinion, it isn’t the best solution not to pay the premiums of your insurance. Because this means that when for example you have an accident and you didn’t pay for your car insurance, then you’ll have to pay much more to repair your car then when you’ve paid for your insurance.
BeantwoordenVerwijderenBut it is a fact that in times of financial crisis you’ve got less money to spend, so when I have to choose an insurance at the moment, I would choose ‘Universal Life’. This is a life insurance, in Belgium, where you don’t have to pay on regularly basis. This makes it easier in difficult times to still be insured when you don’t pay frequently.
Ruth Blommaert