Andrew Tobias Quotes
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The industry cannot long offer unneeded or overpriced insurance if people will not buy it.
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The life insurance industry is filled with good people who believe in their work and their companies, but who may never have challenged the assumptions underlying their efforts.
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The first American insurance company was the Friendly Society for the Mutual Insurance of Houses Against Fire, founded in Charles Town in South Carolina, in 1735.
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There's no question young drivers have far more accidents than older ones - but is it our aim to keep them off the roads? Or to allow only rich young people (who can afford the premiums) to drive?
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One of the advantages of the book's having been out there for more than a quarter century is that there's been time for people to report back on what it's done for them.
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I was a writer for 'New York' magazine. I had been to business school, but what did I know? Still, everybody from the receptionists on up to the editor would ask me what they should do with their money.
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Summers are the best. And I figured summer was my best time for meeting someone, too, because in the summer people are looking for someone to snuggle up with for the winter. And because in the summer I could take off my shirt.
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Having no national system of catastrophic health insurance, we have, through the courts, managed to patch together pieces of a not very satisfactory one.
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Life insurance is a commodity.
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There were no jobs created in America from 1945, when the war ended, through 2003. How could there be? Taxes were too high. Preposterously so under Eisenhower, Kennedy, Nixon, Reagan (who left office with a 28 percent rate on long-term capital gains) and Bush the Elder.
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Rule of thumb: The more trimmings an insurance plan has and the harder someone is pitching it, the faster you should run.
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But successful investors tend to be not too self-destructive. They tend to be patient, they tend not to follow the crowd, and they tend not to be too guilty about winning.
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You want 21 percent risk free? Pay off your credit cards.
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Life insurance in America has traditionally been dominated by mutual insurers. Twelve of the fifteen largest life insurers are mutuals.
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What kind of bank gives back 65 percent-often less-of what you deposit? Indeed, when you compare the services of a bank and an insurance company, common sense suggests something is out of whack.
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There are only two things as complicated as insurance accounting and I have no idea what they are.
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Now listen. You can't fool all the people all the time-- but I want you to try.
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Hay fever suffers tend to be above average in intelligence.
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There's no such thing as altruism.
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In short: Readily available low-cost life insurance would be a threat to the industry, and whatever threatens the life insurance industry threatens America.
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The larger the deductible you choose, the less insurance you are buying. Insurers want to sell insurance.
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It's very nice to be able to be who you are.
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No wonder lawyers, who control the legal system, have fought so hard, and with great success, against "no fault" insurance. No fault, no lawsuits. No lawsuits, no lunch.
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The first life insurance societies where formed in England in the years between 1692 and 1720. In America, life insurance became available to the clergy through the Presbyterian Ministers Fund, founded in 1759 (still in existence), and the Episcopal Corporation, founded ten years later (subsequently merged).
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I think a lot of people would rather have more control over their life than less.
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The best thing I have are 5 percent bonds from 1780, denominated from $1 to $20. As far as I can tell, they are obligations from the United States of America, so I should be able to walk down to the Federal Reserve and redeem the uncanceled ones. With 217 years of accrued interest, for a $20 bond, that's about $800,000.
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Nobody wants campaign finance reform more than me. It would save me a fortune.
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Still, most people don't have much money. So finding ways to come out a couple of thousand dollars ahead every year still matters.
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People don't need to find reasons to justify their not giving. What they need to find is the inspiration to give. And those who don't, but could afford to, are missing out on one of wealth's greatest luxuries.
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Man's natural life span, 75 to 90 years or so, has not increased. It is the number of us who manage to attain it that has increased.
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