2006-06-30 07:13:43 · 12 answers · asked by bull 1 in Business & Finance ➔ Insurance
That's called insurance fraud and its a federal crime. I sure wouldn't recommend it.
2006-06-30 07:14:55 · answer #1 · answered by WiserAngel 6 · 0⤊ 0⤋
Insurance is a cover for protection of loss arising out of contingencies and is not meant to make money out of it. But consider companies taking cover against LOSS OF PROFITS policy. It covers any contingency due to which a company may not attain the profit it was making on an average in any particular year.
Also if some one accidentally loses any of his limbs upon which his earning is dependant the insurance claim is really a profit only.
2006-07-02 00:15:58 · answer #2 · answered by THATHA75 6 · 0⤊ 0⤋
The purpose of insurance is indemnification, putting the person back the way they were before the accident.
There are a few rare circumstances where a person may make money.
-Replacement cost coverages pay more than the depreciated value to which you would be entitled, but you do pay an extra premium.
-Medical coverages where a person has auto and health insurance and both are written as primary with no excess or subrogation clauses. Both must pay with no right of recovery. (I don't even know if they write those anymore.)
2006-07-06 00:09:49 · answer #3 · answered by C R 3 · 0⤊ 0⤋
There are people who are in there 70's who realize they don't need the insurance policies they took out years ago. They offer them for sale. You will collect when the person dies. If the person lives a long life you don't make money after taking interest you would be getting and the premiums you pay. On the other hand, if they die shortly after you've bought the contract, you have a windfall.
2006-06-30 14:20:35 · answer #4 · answered by HH@20 2 · 0⤊ 0⤋
There are ways with life insurance to make a profit. However, you won't see the benefit, your heirs will. Very simple, and very legal. Let me know if that is what you meant
2006-07-07 02:27:48 · answer #5 · answered by Susan C 3 · 0⤊ 0⤋
Yes. All you ahve to do is take out a huge life insurance policy on yourself and then fake your own death. The money will go to whomever you left it to in your will.
2006-06-30 14:17:03 · answer #6 · answered by Jordan 3 · 0⤊ 0⤋
Hello,
I am assuming your question was a harmless, not stupid one.
Yes , and I am qualified to say, you can make money from Insurance, and not the fraudulent kind of course.
Please feel free to message or email me.
Have a great day.
2006-07-01 17:27:06 · answer #7 · answered by Kerry M 2 · 0⤊ 0⤋
The answer is how many insurance companies are there? I rest my case.
2006-06-30 14:17:29 · answer #8 · answered by tw0cl0n3m3 6 · 0⤊ 0⤋
Depends on who's stock you're buying.
2006-06-30 19:51:52 · answer #9 · answered by Anonymous 7 · 0⤊ 0⤋
yes, by changing it from one company to another. Lol
2006-06-30 14:16:37 · answer #10 · answered by Indigo 2 · 0⤊ 0⤋