This reminds me that when I began my baking career in early '70s there was flurry of new headquarter buildings being built. It was as if all CEOs had building envy" trying to have the biggest and fanciest building. As buildings were completed and the decade progressed, it became evident that all those banks that spent money on glitz underperformed the others. It was evident that their attention was diverted away from better objectives of operational efficiencies and customer relations.
I am skeptical of the preceding comment (by stelea99), although it could be true for that state (or maybe I just didn't understand what was written). For sure, all states have insurance regulations and oversight, and there must be differences. From my experiences, the author's (David) version is more likely to represent what we will find applicable for our coinsurance. I guess that most states provide a 20% margin of error for coverage - so we receive 100% of loss if we have insured at least 80%. Otherwise,the claim will be reduced per David's example. An issue not mentioned but folks should know (and I believe this is true in all states) is that if there is a mortgagee named, there can be no diminution for underinsurance.
I appreciate your article and your community service, but disagree with your disparagement of Bill Gates. There is no reason to believe that he was a one trick pony. To have been so successful at one thing leads me to believe that he, and others, have potential to be successful following paths other than the one chosen.
"When push comes to shove" there are always unplanned issues deserving attention. While no one wants to die sooner than later, it is a blessing to have advance notice, and great you are making use of it. I hope you will later clarify the issue of SS survivor benefits which I thought were only available after 10 yrs of marriage.
Great story/article, and thanks for what you are doing. It is so unfortunate that the tax code is so complicated with 99% of it applicable to only 1% of taxpayers. I am curious as to what options you had to advise the clients who had the churning broker.
Comments
This reminds me that when I began my baking career in early '70s there was flurry of new headquarter buildings being built. It was as if all CEOs had building envy" trying to have the biggest and fanciest building. As buildings were completed and the decade progressed, it became evident that all those banks that spent money on glitz underperformed the others. It was evident that their attention was diverted away from better objectives of operational efficiencies and customer relations.
Post: Give It Away Already
Link to comment from March 12, 2025
I am skeptical of the preceding comment (by stelea99), although it could be true for that state (or maybe I just didn't understand what was written). For sure, all states have insurance regulations and oversight, and there must be differences. From my experiences, the author's (David) version is more likely to represent what we will find applicable for our coinsurance. I guess that most states provide a 20% margin of error for coverage - so we receive 100% of loss if we have insured at least 80%. Otherwise,the claim will be reduced per David's example. An issue not mentioned but folks should know (and I believe this is true in all states) is that if there is a mortgagee named, there can be no diminution for underinsurance.
Post: Pricing Catastrophe
Link to comment from December 14, 2024
I appreciate your article and your community service, but disagree with your disparagement of Bill Gates. There is no reason to believe that he was a one trick pony. To have been so successful at one thing leads me to believe that he, and others, have potential to be successful following paths other than the one chosen.
Post: What’s Your Talent?
Link to comment from August 21, 2024
"When push comes to shove" there are always unplanned issues deserving attention. While no one wants to die sooner than later, it is a blessing to have advance notice, and great you are making use of it. I hope you will later clarify the issue of SS survivor benefits which I thought were only available after 10 yrs of marriage.
Post: No Slowing Down
Link to comment from July 27, 2024
Great story/article, and thanks for what you are doing. It is so unfortunate that the tax code is so complicated with 99% of it applicable to only 1% of taxpayers. I am curious as to what options you had to advise the clients who had the churning broker.
Post: Many Unhappy Returns
Link to comment from June 24, 2024