Quote:
Originally Posted by fintstone
One does not have to buy life insurance. I have none myself...just like collision on any of my cars. I accept the risk. Some cannot/will not.
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It's a cultural thing. IME out there, Asians and Cubans self insure, will almost never buy life insurance. Black folks have a fanatical belief in life insurance, many of them had parents or grandparents who took out policies on them as small children. They grow up with it and think it's an absolute must-have. Mexicans are the next best demographic. But, like in the subprime mortgage business, where a lot of the shops are ethnic, people go to providers who speak their language, thinking they'll be treated right. And they couldn't get more screwed if they looked.
When I was in the mortgage biz in NoVA, there were lenders who were 100% Korean or Somali or Vietnamese or Russian or whatever and they so gouged their customers, I couldn't believe some of the deals I saw. Pretty similar in life insurance too. Some of the messes I unwind are so bad, the customer thinks I'm scamming them because the deal I find for them is so much better than what they had and thought was a good deal, they just can't believe it. And I have had to walk away from plenty of those because they simply lived in denial and wouldn't listen to reason or let me compare paperwork for them.