I see that on a lot of ads for otherwise suspiciously UNpicky insurance companies. So, what’s the scam? Is it to mentally tie their product to real veteran benefits so the unwary sign up, thinking it’s an entitlement?
Veterans are just a good target group from the point of actuarial tables. I’m sure some insurance guru can provide the actual data.
Also,
Since many of the things that are usually picked up by insurance companies are picked up by the U.S. government in regard to vets it can be a very good deal for the insurance company. They will get the premiums and not have to pay out anything since the vet may be being treated under some of his or her VA benefits.
And I believe that even if the insurance company pays out, they will be reimbursed for a portion of it by the feds.
Hah! I knew there was something to my suspicions! So if I, a non-vet, were to apply for one of these policies they might actually turn me down for a good reason.
Really? I’d like to see those tables because my experience would point to them, as a group and not reflecting on any of the fine vets I know here, as lousy risks, with high percentages of smokers, heavy drinkers, and the mentally ill.
The ads say Honorably Discharged Veterans, and that makes a pretty big difference. Assume I mean Honarably Discharged when I mention veterans; I don’t consider those dishonorably discharged to be veterans (I usually just call them scumbags). Veterans, as a whole, in contrast to the rest of society, are generally thought of as a good risk because they tend to be somewhat more responsible than the average American. Remember, we’re making grand sweeping claims about the statistical analysis of millions of people here, not the bad habits of a select few.
As far as your assertions about smoking, drinking, and mental illness, what about the non-veteran masses who never served and yet have these problems? Statistically, I’d be willing to bet that these problems are less common among honorably discharged veterans than in all the rest of society, other than the incidence of smoking, perhaps. Contrast that one to IV drug use (something very uncommon in veterans) for potential early death.
TV Time, most of these ads are for life insurance, something that has no bearing on VA health benefits.