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Re: [tips_and_tricks] Eric, WhoRU makes my points on US Citizenship

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  • gary
    The analogy is not quite accurate. When you contract with LLoyd s for the insurance they issue a policy (insurance contract) and a number is assigned to that
    Message 1 of 10 , Nov 14, 2008
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      The analogy is not quite accurate. When you contract with LLoyd's for the
      insurance they issue a policy (insurance contract) and a number is assigned
      to that POLICY, not your name. If you get another policy from them, it will
      have a different policy number. When you stop paying LLoyd's, they will
      terminate your policy and mark it "terminated for non-payment", if you
      cancel, they will mark the file "cancelled by insured"? Yes, they will
      probably keep it for their records but if you want the policy again, you
      will have to make application for it and a new policy will be issued and a
      new number will be assigned. You will not be allowed to just start up the
      old policy with the old number.

      The biggest difference is that with SS you cannot cancel it (that is what we
      are discussing, can you cancel the SS contract and have a check on that
      number say something like "cancelled by request"), the policy stays active
      and in force at all times. You may choose not to apply for benefits, but
      the SSA expects payments whenever you are paid unless payment to you is
      exempt (such as state employees).

      Gary

      ----- Original Message -----
      From: dwissel
      To: tips_and_tricks@yahoogroups.com
      Sent: Friday, November 14, 2008 8:51 AM
      Subject: Re: [tips_and_tricks] Eric, WhoRU makes my points on US Citizenship


      Think of SSN like LLoyd's of London. Someone applies for insurance in
      America to insure their hands cause they are a famous piano player. LLoyd;s
      writes the policy for the far away land called America. Now because the name
      was John Smith and there are too many John Smith's the company ASSIGNS a
      number. The number is ALWAYS stuck on the file folder and application. Let's
      say you cancel your insurance or simply haven't reached the "vested" amount
      to automatically guarantee a payout. Lloyd;'s says "Fine...cancelled....or
      fine...they stopped paying" But they keep the application, the name and
      number AND the file. How do they know you won't pay them again and want
      their services?

      The bottom line is LLoyd's has the number in some far away file cabinet on a
      territory you care little about....kinda like SSA does on the island of the
      District of Criminals.
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