Here’s the problem with that. People will still sign up, even if it’s of no value, because of the name Donald Trump. Because he has been highly successful in a difficult real estate market, he knows real estate and people would trust him even if he tells them crap.
My father had a recent dishonesty with an insurance company. He’s a senior, about 76 years of age, and he got hit by a car. He was knocked to the pavement and broke his hip. The insurance company went to him and had him sign some documents, while he was high on pain killers and not cognitive as to what he was signing.
In a nutshell, the insurance company had him sign some documents that minimize what they have to pay out to him, an inadequate fund for the amount of rehabilitation he is going to need to recover. Unfortunately because of his age, there is a very real chance he will die within the next six months, because when a senior gets a hip fracture, they very rarely recover fully.
Now it is fortunate that there is a real chance of having a judge over turn what they had him sign, because of his inability to understand what it is that he signed and the fact that, while in the hospital, he has given strict guidelines that he is to be represented by his daughter.
If it weren’t for a public judge, there would be no recourse in the free market. Free market only works well when both parties are honest men. When one is a crook, the only recourse is a public judge.
My mother in law lived 12 years after breaking her hip. After the first year, and until the last those were very active years. She was 78 at the time. She may have defied the stats, I don’t know, but never looked at her broken hip as a death sentence.
But, you’re right, most insurance companies suck. Big time.
“Free market only works well when both parties are honest men.”
Honest women wouldn’t hurt either.