>From: "Walt Wayman" <hiwayman@xxxxxxxxx>
>
>State Farm is a mutual company, which means
>it's owned by its policy holders.
>From: "Tom Scales" <tscales@xxxxxxxxxxxxxx>
>
>I'm confused. State Farm is a mutual, owned by its customers.
Hmmm... perhaps they "went private" at some point?
They sent me a notice in about 1986 that said they were being sold to British
Tobacco. I switched at next renewal, when the rates "co-incidentally" went up
about 20%. I was living in Oregon at the time.
But perhaps I'm mistaken. I'm sure I've shredded all that old paperwork by now.
Perhaps I shredded some brain cells at the same time...
On a similar note, I have a paid-up life insurance policy with National Life
and Accident that my father purchased when I was born. He made payments through
my 18th birthday, then signed it over to me. Two different agents have been
unable to locate this company, or one that may have bought them. I suppose they
went bankrupt along the way somewhere... there's REALLY no such thing as
"insurance," is there?
--
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