DaddySatyr
Posts: 9381
Joined: 8/29/2011 From: Pittston, Pennsyltucky Status: offline
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quote:
ORIGINAL: Iamsemisweet insurable interest? Not sure how that relates to a health policy. In any case, for undergrad, my school had a health center where I could get insurance for their services, including birth control. A limited kind of health insurance was also available where I went to law school, which was a private college D I can help you out. In a few states (that I personally know of) "Insurable Interest" is mandatory before an insurance contract can be written. While there is plenty of room for abuse without insurable interest, when one is dealing with life insurance (and I think we can all figure out how), there's not a whole lot for a third party to be gained for insuring someone's health unless they have insurable interest. Let me do it this way ... If I find out that Joe Schmoe is dying of some horrible disease, and I'm a heartless dirtbag, I think: "Hey! I might be able to go and cash in on Joe, dying!". I get to the insurance agent and he asks: "What relationship is this person to you? In other words: what is your insurable interest?" If Joe isn't a member of my family, or an employee whose loss would cause my company some "hardship" or a few other cases (partnerships, etc.), I have no insurable interest and a reputable agent sends me packing. Health insurance is a bit different but, there could be a way to abuse ... I own Acme Production Co. and the Coyote is my employee. There are types of insurance that pay directly to the insured. Major Medical pays doctors, hospitals, etc. There are insurances that give money directly to the person who's insured. If there's a crack in the armor, someone may find a way to exploit it. I was just asking if colleges/universities offering insurance to their students was "normal" and if so, on what basis or: what is their insurable interest? The answer that I got (which was appreciated) was that they don't want a student that has an accident suing their insurance company (falls, accidents, etc.) so they make sure that all students have insurance; either provided by the parent under their own policy or, the university offers a group plan. They don't provide the insurance to the students, they provide the umbrella under which the students can enjoy a group rate. Peace and comfort, Michael
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A Stone in My Shoe Screen captures (and pissing on shadows) still RULE! Ya feel me? "For that which I love, I will do horrible things"
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