Results 1 to 7 of 7

Thread: Outsurance offer

  1. #1
    Diamond Member
    Join Date
    Apr 2010
    Location
    planet earth
    Posts
    3,943
    Thanks
    153
    Thanked 317 Times in 287 Posts

    Outsurance offer

    Outsurance are offering all your premiums back if you don't claim in 15 years, what do you the chances are they will still be in business in 15 years time.

  2. #2
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    22,648
    Thanks
    3,304
    Thanked 2,676 Times in 2,257 Posts
    Blog Entries
    12
    Quote Originally Posted by ians View Post
    what do you the chances are they will still be in business in 15 years time.
    Probably pretty good. It's a very shrewd offer...

    ...as in the big winner will be Outsurance - for sure.

  3. #3
    Gold Member Dave S's Avatar
    Join Date
    Jun 2007
    Location
    Randburg
    Posts
    733
    Thanks
    39
    Thanked 117 Times in 91 Posts
    I haven't yet heard of an insurance company that didn't cover their own bank account, so somehow Outsurance is still going to make a killing, besides, what are the chances you are going to drive on South African roads for 15-yrs without even a minor incident?
    Today Defines Tomorrow
    Errare Humanum Est Remitto Divinus

  4. #4
    Diamond Member
    Join Date
    Apr 2010
    Location
    planet earth
    Posts
    3,943
    Thanks
    153
    Thanked 317 Times in 287 Posts
    It is simple you pay a premium every month which is invested, like you would a life insurance policy, except there is no claim so they cant loose, they pay you out what you put in only excluding interest, chances are in a 15 year investment the interest will be lot more that what you put in. Someone at outsurance must have seen the huge benefits from their no 4 year no claim bonus and decided it is a no brainer.

    They use the best assessors in the business and get out of millions of claims, which seems to be the norm nowadays, with the new most common clause I hear, "no claim due to a lack of maintenance" or the old ones, the excess is so high it is not worth claiming or the best old one, if you claim you know your premium with compensate for the claim in the future when it gets increased.

  5. #5
    Diamond Member wynn's Avatar
    Join Date
    Oct 2006
    Location
    east london
    Posts
    3,338
    Thanks
    548
    Thanked 625 Times in 524 Posts
    Well remember if you don't claim you are not dead. if your relatives do claim, it is because you are dead.
    after fifteen years of staying alive you at least get your contributions back, better than a kick in the pants provided the installments are reasonable.
    "Nobody who has succeeded has not failed along the way"
    Arianna Huffington

    Read the first 10% of my books "Didymus" and "The BEAST of BIKO BRIDGE" for free
    You can also read and download 100% free my short stories "A Real Surprise" and "Pieces of Eight" at
    http://www.smashwords.com/books/view/332256

  6. #6
    Diamond Member Justloadit's Avatar
    Join Date
    Nov 2010
    Location
    Johannesburg
    Posts
    3,479
    Thanks
    134
    Thanked 695 Times in 593 Posts
    Blog Entries
    1
    Most life policies include a savings portion, which you can claim at any time. Outsurance is simply rewording this.

    I wonder how they would repudiate your benefactors in the case that you die with in the 15 year period?
    mmmm Because you gave no notice or your intention to die before the 15 year contract, your claim is repudiated, or something along those lines
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar pumping, Solar Geyser & Solar Security lighting solutions - www.microsolve.co.za

  7. #7
    Moderator IanF's Avatar
    Join Date
    Dec 2007
    Location
    Jhb
    Posts
    2,679
    Thanks
    197
    Thanked 529 Times in 405 Posts
    Google insurance float and see how Warren Buffet analyses it and makes a fortune from it.
    Since our float has cost us virtually nothing over the years, it has in effect served as equity. Of course, it differs from true equity in that it doesn't belong to us. Nevertheless, let's assume that instead of our having $3.4 billion of float at the end of 1994, we had replaced it with $3.4 billion of equity. Under this scenario, we would have owned no more assets than we did during 1995. We would, however, have had somewhat lower earnings because the cost of float was negative last year. That is, our float threw off profits. And, of course, to obtain the replacement equity, we would have needed to sell many new shares of Berkshire. The net result - more shares, equal assets and lower earnings - would have materially reduced the value of our stock. So you can understand why float wonderfully benefits a business - if it is obtained at a low cost.
    Link to an article but as with everything the devil is in the detail.
    Only stress when you can change the outcome!

Similar Threads

  1. Axxess special offer
    By popayetwo in forum Technology Forum
    Replies: 0
    Last Post: 12-Jun-12, 02:43 PM
  2. [Question] Outsurance
    By Martinco in forum General Business Forum
    Replies: 34
    Last Post: 19-Dec-11, 12:20 PM
  3. Discounted Offer
    By Debbiedle in forum General Business Forum
    Replies: 2
    Last Post: 21-May-09, 04:52 PM
  4. ID theft through employment offer
    By duncan drennan in forum Scam Alert Forum
    Replies: 2
    Last Post: 11-Feb-08, 11:57 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •