Group employer life insurance: Another industry for the taxpayers to bail out now?
Well, Congress bailed out the insurance companies affected by the Riots. Yes, they did.
And some of them saw this coming.
Insurance companies have a “in case of war” clause in their policies as an out.
I just got beat out of the cost of a new roof on the home my father lived in. Company simply refused to pay for storm damage that caused leaks every time it rains. (exclusion on wind driven rain, was excuse) The roof still leaks when it rains and no wind.
I quit that company, local agent was ZERO help. But I will never send another dollar to Texas Farm Bureau for anything. And will never have a positive statement about them to anyone I know. NOT EVER. (I found another company immediately on 3 homes and 4 auto’s)
Only one insurance company that I know of (AIG) has been bailed out. And they paid the money back very quickly with a huge profit to the lender.
Banks, OTOH, are regularly bailed out with massive losses to the taxpayer,.