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1-16-2009 @ 12:33PM
I don't see how this can work either. Regular insurance works because people can't pay for some emergency things. They need help in those situations, so they are willing to pay a little every month just in case.The insurance company survives because only a small percentage of customers need money at any one time. The money they get from customers every month offsets the small number of payments they are making.With this new system most of the year, everyone will be paying them money with no return. A few times a year everyone will be getting money. The problem I see is that when the service is bad, it's bad for everyone. Everyone will be collecting money from them. So they are banking that the rest of the year they make lots to offset that. So from a customer's point of view, most of the year they are spending extra money and only ocassionally getting it back.
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