Just as with most things, there are some interesting insurance facts also. Following are a few of them.
The first of these interesting insurance facts is actually one that causes a lot of concern among insurance professionals and others. Only about 40% of Americans even have life insurance. And of those who do, and die early, only about 25% have what would be considered adequate life insurance.
Another of the interesting insurance facts concerns medical insurance. Even with medical insurance, it’s still possible to go bankrupt due to medical bills. Sixty-two percent of the bankruptcies in the U.S. are due to medical bills, especially deductibles and co-insurance costs.
Did you know Starbucks pays more for employees’ health insurance than they do for their coffee. It’s true. Just another of the interesting insurance facts.
Another of the interesting insurance facts has to do with medicine. Many people without medical insurance will buy antibiotics for fish if they have infections because this type of antibiotic is available in the same dosage and grade and doesn’t require a prescription.
The Amish refuse to pay insurance premiums or accept Social Security benefits because they believe they aren’t trusting God for provision if they do. Another of the interesting insurance facts.
In 2003, Pepsi ran a sweepstakes with a grand prize of $1 billion. They also bought an insurance policy for $10 million against someone actually winning. Just one more of the interesting insurance facts.
In London in 1682, you could buy fire insurance. If you did, a metal plate was attached to your building, ensuring it would be saved if it caught on fire. Without this plate, your building would not be saved if it caught on fire unless the fire threatened insured buildings. Another of the interesting insurance facts.
In Japan, life insurance companies will pay if the holder commits suicide. This actually encourages the holder to kill him or herself, so the family will be taken care of. It probably adds to the high number of suicides in that country. Another of the interesting insurance facts.
This information about interesting insurance facts has been brought to you by Corriveau Insurance Agency. We’re an independent insurance agency in Nashua, NH. We’re a family owned business since 1912. Call us for a review of your insurance needs. Call 603-883-5528 today!