Why have insurance? - Mercedes-Benz Forum

 
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post #1 of 2 (permalink) Old 07-05-2008, 11:53 PM Thread Starter
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Why have insurance?

What is the purpose of having an insurance policy when Congress passes a bill stating you cannot collect on it?

Employers use federal law to deny benefits: Financial News - Yahoo! Finance

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post #2 of 2 (permalink) Old 07-05-2008, 11:57 PM
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That is not what the law says. The law [which in the examples is very poorly used] is intended to protect from very large judgments raiding insurance and benefit coffers. The law does seem to have issues that EVERYONE agrees needs fixed.

The vast majority of insurance policies don't bump into these issues. They pay out normally [although usually kicking and screaming and sometimes less than you would hope]

McBear,
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