If i pay more for car insurance being under 25, why don't black people pay more for life insurance?

Question

Ya know, because of the drive-byes and all.

Answer 1

I sell life insurance, and while we're required to put on your application what your race is (if we ask and you refuse to tell us, we're required to guess), charging black people more for life insurance would be more than a little illegal. Drive-byes, sickle-cell anemia, increased rates of heart disease and all.

Racism still exists, but it cannot be coded into the structure of a business. Imagine the conniption fits Jesse Helms would go into...

Also, consider this: does your average thug who prowls the streets at night blasting other thugs and trying to avoid getting blasted himself, ever stop and buy life insurance? Seriously, I've never heard that in a DMX track, have you?

Answer 2

If this is a serious question here is the answer:

It is illegal to base life insurance premiums on race. Here is an example of a company that was underwriting by race:

Insurance Commissioner Sandy Praeger said Monday Kansas will be the recipient of a portion of a $400,000 settlement with Western and Southern Life Insurance Co. as a result of an investigation into allegations of race-based underwriting practices.

"I am concerned that premium differentials in life insurance rates based on the race of the uninsured, particularly African-Americans, has existed and may continue to exist in the marketplace," Praeger said in a statement about the settlement.

The $400,000 will be split among the states that are participating in the settlement. States had until Dec. 15 to participate. The settlement will be disbursed at a later date.

Charlene Bailey, spokeswoman for the Kansas Insurance Department, says her office does not know which other states will be part of the settlement.

Under the settlement's terms, Cincinnati-based WSLIC will repay affected customers, Praeger says.

Try getting an instant quote below. Policies start at as little as $3 per month.

Life Quotes: http://www.insureme.com/landing.aspx?Refby=615159&Type=life

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Ron @ InsureMe

Answer 3

this has nothing to do with politics. life insurance should not go according to race by the way...i would like to say it dosnt but you never know the sick s hit that still goes on behind the scenes. at any rate a young person of any race and with a good "bill of health" should get a really good rate for life insurance whereas car insurance being common knowledge that males between the ages of 18-25 drive like idiots need to pay more for their insurance since they are a higher risk to insure.

Answer 4

being under 25 and married, you'd pay less than a single 25 year old, age discrinmination doesn't come into effect until you're over 40
discrimination based on race is illegal

Most states offer a 10% discount for 3 years on your policy if you pass a defensive driving course, my hubby and I each took a comedy defensive driving class last year ($30 each) and we save about $150 a year on our premiums

Answer 5

I totally understand exactly where you are coming from, Even in the UK they need to pay more for life insurance because they are even killed as they walk down the street, then again if we charge them more they will need to rob a few more people in order to buy it!

Also they cant afford it and could not buy it! :(

Answer 6

you have a deranged sense of humor. i admire it.

so wrong on so many levels but pretty funny. you definitely have set race relations back 50 years or so.

Answer 7

Just for the sake you sat there and thought that up is funny ?

Answer 8

how do you know they dont?

Answer 9

suck on this : http://en.wikipedia.org/wiki/Image:Ano.jpg