<p><a href=“http://www.newsadvance.com/servlet/Satellite?pagename=LNA%2FMGArticle%2FLNA_BasicArticle&c=MGArticle&cid=1173352339347&path=[/url]”>http://www.newsadvance.com/servlet/Satellite?pagename=LNA%2FMGArticle%2FLNA_BasicArticle&c=MGArticle&cid=1173352339347&path=</a></p>
<p><a href=“http://www.liberty.edu/index.cfm?PID=13208&NewsID=189[/url]”>http://www.liberty.edu/index.cfm?PID=13208&NewsID=189</a></p>
<p>unm jerry really didn’t take care of Liberty, some insurance companies did…interesting that</p>
<p>a 4 million dollar investment turns into 21 million dollars</p>
<p>and yet people can’t get insurance for their sick child</p>
<p>truely pathetic and suspect</p>
<p>I wonder what insurance company that was and if they are raising fees on them regular folks</p>
<p>I have my suspesions and will check it out</p>
<p>citygirlsmom,</p>
<p>Jerry DID take care of Liberty. Yes he had insurance policies, but he did make Liberty the beneficiary of those policies. He didn’t have to do that. Your beef is with the insurance companies, not Falwell. If an insurance company makes unwise underwriting decisions or raises premiums above those of their competitors, they will go out of business and another company will take its place.</p>
<p>While your checking it out, find out how much of Princeton’s and Harvard’s endowments are invested in insurance companies.</p>
<p>From what I read, the college paid the premiums. It sounds like a standard practice in which a corporation (or in this case, a college) buys insurance on the life of a partner or major shareholder to buy out the heirs’ shares. Yes, it was a nice thing to do, but standard practice, especially since Jerry’s name made the school. I am NOT putting this down. I think it’s great - just adding a different perspective on it. And I am thrilled it happened. There is a need for Liberty.</p>
<p>he was 71 and sorry, but it is outrageous, not standard…</p>
<p>4 million “investment” on that big a return that late in life</p>
<p>it was a way to suport that sham of a school with corporate donations at the expense of other insurance patients</p>
<p>when you have children dying because mom and dad can’t get insurance and yet Jerry can get corporate donations at the expense of those people, it stinks to high heaven</p>
<p>we all complain about insurance premiums and blaim lawyers and lawsuits, well, here you go, defend this all you want and THEN try and blame lawyers</p>
<p>if this was my bad insurance company, I would fire them</p>
<p>citygirlsmom,</p>
<p>You are confusing apples with oranges. Health insurance and life insurance are not the same things. They are not calculated the same way and they are not handled the same way by the insurance companies. If you have a problem with the fact that ambulance chasers (lawyers) drive up the price of health insurance so that parents can’t get coverage for their sick children, I understand that. Talk to John Edwards. </p>
<p>But this is about life insurance and life insurance companies have very involved actuarial calculations to determine how much premium to charge given a person’s age, health, lifestyle, and life expectancy. They will cover anyone they determine will pay the premium they require. </p>
<p>Liberty University paid a million dollars a year. The insurance company invests that million dollars. They may have even taken out an insurance policy on the insurance policy. (That’s a standard practice on something like this.) In any case, as a business, they are out to make money and they use various techniques to make sure they don’t lose money. They may or many not have lost money in this situation. I don’t know all the details. But life insurance companies know how to cover themselves.</p>
<p>Health insurance does have to contend with frivolous lawsuits as well as valid ones and they all cost money which raise the price you and I have to pay to get the health insurance. Perhaps someday the get rich quick aspect lawsuits and the medical industry will fade. But until that day, it will continue to skyrocket the cost of health insurance. </p>
<p>No matter what personal problem you seem to have with them, neither Jerry Falwell, Liberty University nor possibly it’s insurer have anything to do with the high cost of health insurance.</p>
<p>I commend you on your desire to “check it out” as you say and learn more about how the system operates.</p>