Conference 7.286::digital

    See topic 3737.

re: .0

Jeez, if you're not happy with MetPay, don't give them your business. Its
that simple.

    
    RE -1  Sorry to say it's not that simple.  Metpay used the "but we pay
    a dividend" on me as a selling point when i converted my home owners
    insurance over to them, even though they were a couple of bucks higher.
    I don't want to use the f(raud) word but i know there are legal minds
    in here who will accomodate.

    re;
    Jeez, if you're not happy with MetPay, don't give them your business.
    Its that simple.
    
    exactly what we did..home owners, all cars, second
    mortage, cabin insurance....everything....took several months to get
    our "rebate" back and they still keep sending us statements and
    offers...

    Re: .3
    
    I would expect that Metpay, in the fine print, said that the rebate was
    not guaranteed, even if it had always been given in the past.  I know
    that Amica is quite up front about that (though I have yet to not
    receive the 25% homeowners and 20% auto rebate from them.)
    
    					Steve

do you get a rebate from your mortgage holder when they make money?

NO

Do you get one from your auto lender??

NO

If you do not like met stop whining and change companies

>do you get a rebate from your mortgage holder when they make money?
>NO
>Do you get one from your auto lender??
>NO

Ummm.  Actually yes.  DCU gave me a rather nice "rebate" this year and last year
as well.

ok I forgot credit unions who are owned by the memborship

    re:   .6
    
    I have my mtg and auto loans at DCU and did get a sizeable rebate this
    year because they made money. 

    Does anyone have the 800 number for Metpay?       Thank You
    

1-800-get-met1

  MetPay offers a sizable discount (12% this year, I think) off market rates
for the Digital group. This is separate from the dividend.
  In MA, auto insurance rates are tightly regulated, so Metpay is usually a
good deal even if they don't pay dividends. In other states, Metpay without
dividends may not be the best deal around.

    Actually METPAY *was* the best deal around when added the house and
    cars a while back. The third vehicle discount made it *cheaper* to keep
    the wifes old car on as a beater. 
    
    I've never gotten a rebate, never expected one, and if I got one, I'd
    consider it 'found money' and be glad.
    
    .mike.

	Mike, please don't add sanity to this subject. You might get the others
upset! :-)

    
    1.) We get a discount on our insurances from Metpay because of our 	
        group policy through Digital. 
    2.) Dividends are/were payed out if Metpay is profitable.
    3.) Last year's ice storm, you do remember that don't you?, wreaked
    	havoc with all insurance companies including Metpay. I had to file
    	a claim and Metpay was so busy they couldn't even get out to view
    	the house...they just sent me a check.
    4.) "Counting" on getting that dividend check is a big mistake.
    
    Jerry

  RE: .13  
    
>> I've never gotten a rebate, never expected one, and if I got 
>> one, I'd consider it 'found money' and be glad.

Neither have I ever gotten a rebate.  For reasons I can't 
explain I was told when I signed on they do not give rebates 
in New York.

Nevertheless, even without the rebate Metpay was considerably 
cheaper than my old insurance company.

Larry

The basenote is an example of the "entitlement" mentality that is corrupting
so many aspects of American life. 
[Posted by WWW Notes gateway]

    
    I think MetPay needs to make a 15% profit after taxes before giving us
    a rebate.  Last years storms blew their profit out, they haven't come 
    back and tried to raise the rates.  They also have a 12% discount over
    Mass policies as Bob M. stated.
    
    Switch or don't switch, but MetPay has never stated this was an
    entitlement, if they make over 15%, we make money, if they don't, 
    we don't make, but we don't lose either, sounds like a deal to me!
    
    /art

    re .17
    
    Well said.

    
    New York has the most stringent regulation of the insurance industry.
    A local financial talk radio host advises, for any insurance policy,
    ask the company, "Do you offer this SAME policy in New York"?  He
    suggests, if they don't, get a policy that is.
    
    In MetPay's case, they are probably either not allowed to pay
    dividends, as an inducement to purchase, or the regulations do not
    allow enough profit margin to pay a dividend.
    
    Dennis
    

    
    	Entitlements, my butt.
    	
    	I try to keep my claims to "0", I dont build on a hill (mud
    slides), I dont take risks that expose me like some of you east coast
    drivers.  Now because of my practices, zero claims, and some bad weather 
    in your neck of the woods I dont get what I expected.
    
    	My problem is the timing... if the year was so darn bad maybe they
    should have told us earlier so I could have made my insurance
    investment somewhere else.
    
    	Better yet, I'll make those claims now and then quit MET so you can
    pay for it next year.
    
    	I just want to know that DEC employees were treated fairly and we
    did not have to pay for "other" persons loose insurance claims.  I
    thought this policy dividend had to do with DEC member's performance
    not the entire MET risk arena. 
    
    Call me whiner and I'll call you too rich...
    
    Mark 

>    Call me whiner and I'll call you too rich...
    
    Okay, if it'll make me rich, you're a whiner.

    Well then, there is only one answer to this dilema. Everyone who
    filed a claim that impacted the rebate has to be killed and a 
    presidential committee should be appointed to investigate MetPay's
    tardiness with their announcement. (okay, two answers)
    
    Come on. A very difficult concept here, but worth stating... Don't
    spend money you don't have. 
    
    Chip

    Indeed, Metpay is not alllowed to issue the rebates under NYS law - or
    so I was told by Metpay when I asked "where is my rebate this year?"
    after I relocated to NY from MA.
    
    This seems in line with the "community rating" principle forced by NYS
    law for health insurance - it prevents health insurance companies from
    "skimming the cream" by offering affordable health insurance premiums
    only to healthy (young!) people (and I refuse to get into a debate on
    this issue in this topic!).
    
    I stick with Metpay because its rates are very reasonable and I have
    yet to have any bad experiences with them.  The weekly draw from my
    paycheck gives me an added discount and also makes budgeting
    effortless.

    
    re: .21
    
    Perhaps you misunderstand insurance.  Its basic principle is shared
    risk.  You know, spread possible risk across a pool of members, so
    no one member has to suffer an insurmountable loss?
    

        re .21 ...  "insurance investment"??

    Huh??  You don't "invest" your money in insurance premiums.  It is
    just legalized gambling with screwy rules...  You have to have a loss
    to "win".   (I know, some life insurance programs are investment tools,
    but liability, house and auto are not).

    Hmmm, if I were a stockholder in Metpay, how would I feel about my
    company giving back profits to customers, rather than investors?

    Do you expect your local supermarket to send you a rebate if they make
    more than xx% profit??

    Insurance rebates are nice surprises if the "house" wins, and they are
    a marketing tool, but there is certainly no guaranteed return.

    Cheers,
    jeff

    I think 2 words need to be noted.
    
    DIVIDEND- a dividend is something paid on a successful investment. Not
    at all guaranteed, or even promised. 
    
    I think the company is Metropoliatan MUTUAL Insurance. The MUTUAL word
    means the policyholders are the stockholders. Good years, they get
    dividends, bad years they dont.
    
    It seems amazing to me that people will cry when they miss something
    like this- Ive had MetPay I think as long as its been offered at DEC,
    dividends every year, good rates, extremely fair settlement (ask me
    how well I like my $1 million liability policy).
    
    Im surprised someone hasnt suggested this is another "DEC management"
    conspiricy to shaft the workers :-)

    re: .27
    
    Question: do you need to pay taxes on your Metpay "dividend"?
    
    For most insurance "dividends", you don't.  Why?  Because the Federal
    Government has ruled that most insurance "dividends" are not
    "dividends" at all -- they are merely the return of overcharged
    premiums.  That is why most whole and universal life "dividends" are
    not considered taxable -- the Feds don't see them as "dividends" at
    all.
    
    So, if they didn't overcharge you for insurance this year (i.e.,
    payouts were sufficiently high within your insurance group), you 
    receive no "dividend".
    
    -- Russ

    re: .27
    
    So how well do you like you $1m liability policy?
    
    I had to ask. (Actually, I have recently taken out the same policy
    myself. Not too expense.) Perhaps you'll tell us that it save you?
    
    colin

    
    I had a $1M personal liability insurance policy w/MetPay.
    
    I found out I could get a $2M policy through another company for
    less than I was paying MetPay for a $1M.
    

>    I found out I could get a $2M policy through another company for
>    less than I was paying MetPay for a $1M.
    

    who was the $2M policy with?
    
    

    
    Maine Mutual Fire Insurance Company.
    
    I have my homeowners and liability through them.  I live in New
    Hampshire - they insure all over.  Their financials look excellent.
    
    I found them through a local independent insurance agent.
    
    -John

    Re .33 - Maine Mutual
    
    We had (until we added our teenager) our auto insurance in combination
    with homeowners.   The combination was the cheapest we could find and
    the service (when needed) was very good.
    
    They don't do teens well though.  The rates take a bigger hit than
    other companies.
    
    We still have our homeowners with them.