Notes on the Industry

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Advertisments

All advertising has two goals.  One is to make you aware of who is selling what and secondly, stir you to action.   It's that 'stir to action' part that's tricky because that company wants to you believe they are the one company you should buy from.

Competition Breeds Differences

If products from different companies address the same need or want, each company strives to differentiate themselves from others.  Some use price, some use benefits, some use value but in the end, it's you who must decide how this mix best fits you.

A Give Here Means Takeaway There

More giveaways usually mean more takeaways somewhere else.  Look over all the benefits and features of a plan to get a sense of what will work best for you.

Price is a Variable. Always.

In the insurance industry, pricing is usually determined by claims, administration and profit divided by the number of insureds.  When any one or more of those variables move, so does pricing.  A Good Price this year, does not necessarily mean A Good Price in future years. 

Rate Stability

Stable premiums (rates) stay reasonable year after year in a sizable company.  Lots of insureds bring in lots of premium to pay lots of claims and lots of costs to make the whole thing workable.  So.  For stable rates over the years, your best bet is a large company.