Never thought I'd find a memory jogger example for ADHESION on a sit-com, but about 1:45 in, The Big Bang Theory explains Contract Adhesion. Insurance policies are contracts of adhesion. Insurers write the policy without client negotiations (as-is, take-it-or-leave it, one-size-fits-all) so the insurer better write a complete, clear contract or risks losing court cases.
Ambiguity in contracts is resolved against the party who wrote it, and in favor of the party who accepted the terms without input.
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"What will happen to us when you're gone?"
The following conversation could happen between you and your children, or other dependents, and even with your pets...if they could talk.
For now, we'll have to let Mr. Ed speak for them all.
Talk with a legal adviser to set up the proper trust document, that way when your life insurance pays out, the money is legally spent to protect and provide for your children, spouse, parents, grandchildren, and yes, pets, as you see fit. Otherwise, they spend it as they wish.
A will doesn't quite to it right.
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Question? What rider pays a "multiple of the Face Amount"?
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Question? What rider pays a "multiple of the Face Amount"?
Answer: An Accidental Death Benefit, also more commonly called a Double Indemnity Rider.
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Probably the wrong way to network...
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Top 10 Movies Featuring Insurance
Like many professions, the only time Hollywood notices them is to showcase it's worse. The good people in a profession don't make for very good drama and comedy. Here's a list compiled by Fox Business of their best Insurance themed movies. Click HERE to read the whole article.
Don't worry my democrat friends, even though it's Fox News, they include a Michael Moore film.
'The Apartment' (1960)
'Cedar Rapids' (2011)
'Sicko' (2007)
'Groundhog Day' (1993)
'The Rainmaker' (1997)
'Double Indemnity' (1944)
'The Incredibles' (2004)
'Save the Tiger' (1973)
'The Thomas Crown Affair' (1968) (1999)
'Sleuth' (1972) (2007)
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The story I use in class to illustrate incontestability: American Greed - The Black Widows.
How many years did they wait to make it less likely the claims would be suspicious? So the policies wouldn't be contestable. (14 min's in.)
The element of fraud was that they faked the ______ interest to get the insurance.
Once they realized it was fraud, the insurance company tried to ______ the policy.
answers: 2 years
insurable
rescind
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Fool Coverage. Not how you sell insurance.
With examples like this, no wonder a lot of people misunderstand insurance.
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Insurance at the Movies Hall of Fame
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Who says you can't learn something serious in a fun way.
Learning CPR will help you protect your loved ones. (still get life insurance too.)
If you don't take an actual class, still know the basics.
With the recent popularity of zombies and TV shows like THE WALKING DEAD, let zombies teach you what they know best...coming back to life.
Thank you to theUndeading.ca and the HEART & STROKE FOUNDATION.
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