Isn't it about time we forever end Insurance Company discrimination practices?

Back in the 1930s – 1960s, your insurance premiums were determined by your gender, age and race. Black males were rated highest of all, because the Insurance Companies (according to their racist & sexist actuarial charts), had so-called “statistical evidence” that they, as a group, had the worst mortality, and were more likely to die at younger ages.

Thankfully, Civil Rights legislation made it illegal to rate an insurance prospect, based on race and gender.

But, the insurance companies still discriminate based on age, and that’s just plain wrong.

The monthly premium amounts should be the same for a newborn baby, or an 80-year-old person, because no one knows the date of his/her death, and newborn babies can die of SIDS, and 80-year-olds sometimes live to be 100.

So, because no one knows when someone else will die, insurance should be sold as “one premium fits all,” and let’s toss those meaningless tables.

The Insurance Industry (as a group) should be sued for practicing “age discrimination.”

August 27, 2008, 8:57 PM EDT