Insurance under Obama

Nov 5, 2008

  1. treetorn
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    treetorn New Member

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    With the election of Obama and listening to actually what he and the democratic wants to do, I am wondering about the future of the financial/insurance industry as a whole. I hear them talk about nationalizing 401k's, private pensions, insurance companies, and so on and I know that they use government resources to intimidate and hurt people, as Joe the plumber found out. So, knowing that they want to change the structure of our financial system by spreading the wealth, I wonder if there is a future at all. So, I'm not sure what to think and as an investment adviser I'm not sure what type of new clientel I shoudl be focusing on. After all if they nationalize peoples savings, what do they need advisors for?
     
  2. Mr. Bill
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    Mr. Bill Guru

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    Re: Future of industry

    You might want to consider just straight life insurance - permanent, in an ILIT. The only way it appears wealth will be able to be passed from generation to generation.

    Forget about an "estate tax repeal" in 2010.

    The horses have left the station. Gosh, listening to his "acceptance speech" is just sending shivers up my legs. Or was that the tax man?
     
  3. somarco
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    somarco That Medicare Expert Guy

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    Re: Future of industry

    You and Chris Matthews have the same condition.

    As tax policy changes look for the financial & legal industry to become stronger. They will find ways to minimize erosion due to punitive tax policy.

    The health insurance industry is strong and will only get stronger. This is especially so as layoffs increase and people lose their employer based health cover. Many will start their own business or convert to 1099. They have assets to protect and will be needing and wanting health insurance.

    Those who lack skills and/or assets will increasingly become a burden on the productive members of society. Look for welfare rolls to expand along with other entitlement programs.

    I can't speak for others, but my business will continue to grow and life will be good.
     
    somarco, Nov 5, 2008
    #3
  4. Crabcake Johnny
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    Crabcake Johnny Guru

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    Re: Future of industry

    I see tin foil hat sales will soar over the next few months.

    tfh - tin foil hats
     
  5. moonlightandmargaritas
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    moonlightandmargaritas Guru

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  6. fastrack1
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    fastrack1 Super Genius

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  7. ABC
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    ABC Guru

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    Re: Future of industry

    The thing that I see chaning in the health insurance industry is SCHIP.
    We will see the majority of dependent children in this country go onto this plan. They will beable to stay on that plan until they are 25. This will be the first step to a true one payor system. If you have an entire generation that has no value for health insurance guess what they people are going to vote for in the years to come.
     
    ABC, Nov 5, 2008
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  8. midwestbroker
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    midwestbroker Guru

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  9. Guest
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    Guest Guest

    Re: Future of industry

    yes, makes sense, it's the healthiest demographic and the only place it may work.

     
    Guest, Nov 6, 2008
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  10. joshril
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    joshril Guru

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    Re: Future of industry

    I'm starting an association... The IAOTFHW

    The Independent Association of Tin Foil Hat Wearers

    Membership dues will be $20 per month and are only payable in gold or silver. No money printed by the evil empire of the Federal Reserve will be accepted.

    Free tin foil hat included with membership for those who sign up before the Anti-Christ is inaugurated. Hurry! Act fast!
     
    joshril, Nov 6, 2008
    #10
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