When "bros" buy life insurance

By Steve Kobrin

The Firm of Steven H. Kobrin, LUTCF


In case you missed them, here are some ads that are being used to promote Obamacare in Colorado.

“Let’s get physical. OMG, he’s hot! Let’s hope he’s as easy to get as this birth control. My health insurance covers the pill, which means all I have to worry about is getting him in between the covers. I got insurance. Now you can, too. Thanks, Obamacare!”

“Keg-Er. Not sure how I ended up here perched on top of this keg. I could totally fall, but that’s OK. My budget will stay balanced even if I don’t, because I got insurance. Now you can, too. Thanks, Obamacare!”

In these ads, nationalized health insurance is called “Hosurance” and “Brosurance” by the agency promoting it. The ads are among many that attempt to convince people to buy it.

Let’s leave the issue of improper English alone. Instead, let’s focus on the moral culpability of hooking up and binge drinking. What is that, you say? It‘s not my business to judge these kids? It’s their business and their family’s? You are exactly right, my friend; I am in no position to discourage their behavior. But I have news for you: It is not the job of the government to encourage it, either. ”Live and let live” works both ways.

What we have here is a federal program — branded with the name of the President of the United States — promoting irresponsible behavior to push participation. Don’t you think this might add just a bit of legitimacy to these self-destructive actions? Everybody knows what can happen if you are reckless with sex and partying. But no worries; you got insurance. Unwanted pregnancy from your one-night stand? No worries; you got insurance. Thanks, Obamacare! Broken neck from a drunken fall? No worries; you got insurance. Thanks, Obamacare!

And so the U.S. government is giving young people a free pass on their reckless behavior. Do what you want and let the rest of the country pay for it. Just buy our health insurance. This is so contrary to the way we operate in the financial services industry, as we help young people take responsibility for their futures.

It is a pure delight when a young man or woman “gets” insurance and investments. Buy a life insurance policy when I’m 25 so I don't have to pay the higher rate for a policy at age 45? Makes perfect sense. Invest now in a fund that will grow over time? Count me in. They realize tomorrow matters so they start planning for it now.

But we financial advisors can only supplement what society at large is preaching, and our job becomes harder when those in power tell people to throw caution to the wind. Of course, they do not warn you of the adverse consequences of your misdeeds. As a life insurance broker, I can tell you how tough it is to get coverage when you live your life as if somebody else is paying the bill. Heavy alcohol use can damage your liver and raise your rate. Cocaine use can get you declined or postponed for years. STDs can be serious and must be resolved before you are eligible for coverage. DWI violations put black marks on your motor vehicle record and may cost you big-time in premium.

When the “bros” eventually try to buy life insurance for a mortgage, or to qualify for a business loan, they may be in for a very rude awakening about how the world really works. They will not be thanking Obamacare then. This will be very sad for all of us, and is another reason why the government encroachment into our business must be halted.

See also:

‘Cool story, bro’

Promoting PPACA with ‘bros and hoes’

Young adults and health reform: A work in progress