Silly Aggies don't understand how life insurance works.

[guzziguy]

http://www.newson6.com/story/17216081/oklahoma-state-university-lost-33m

This is the best part. ‎"...tried to recover the $33 million it had paid in premiums over those two years, but a federal judge said "no."

Too bad they weren't successful in that. My Mrs. and I recently outlived our term insurance policies we'd had since the late 1980s. I'd love to have all those premium payments back. If the judge had agreed with this Aggie stupidity we could have used the ruling in filing for our money back. Unfortunately, that's not how it works. I knew that when I signed up for the policies. It's odd that the Aggies didn't.

[yermom]

this sounded like a horrible idea from the start. stupid aggies.

even if they make money on waiting for their boosters to die, they are waiting for their boosters to die...

[LVSOONER15]

Aggie will be aggie. It won't ever change.

[champions77]

http://www.newson6.com/story/17216081/oklahoma-state-university-lost-33m

This is the best part. ‎"...tried to recover the $33 million it had paid in premiums over those two years, but a federal judge said "no."

Too bad they weren't successful in that. My Mrs. and I recently outlived our term insurance policies we'd had since the late 1980s. I'd love to have all those premium payments back. If the judge had agreed with this Aggie stupidity we could have used the ruling in filing for our money back. Unfortunately, that's not how it works. I knew that when I signed up for the policies. It's odd that the Aggies didn't.

Policies were issued, coverage was in place, so no, you can't get your money back. The Aggies were counting on some of their insureds dying, in which those death benefits would be used to pay future premiums. When that didn't happen, they got nervous and impatient paying out the monies for the premiums, and backed off. If someone had died, the Life insurance company would have paid the death benefit. You stop making premium payments, the coverage ceases. You can't have it both ways Pukes.

I am surprised that someone at osu wasn't smart enough to see that they were going to lose in that deal.

[85sooners]

:nonchalance:Pokes!!

[sooner_born_1960]

Do the good folks at OSU not understand that insurance companies employ actuaries, who's function is to ensure the company makes money over the long haul?

[yermom]

otherwise everyone would be picking their least favorite old person and taking out a life insurance policy on them :D

[sooneredaco]

otherwise everyone would be picking their least favorite old person and taking out a life insurance policy on them :D

Now that sounds like a great idea! Let's see... who will be the lucky oldie I pick to die?

Hmmm..

Oh yea I agree with one of the the posters above, Aggie will be Aggie that will never change

[jkjsooner]

This reminds me of the thing that Walmart was doing getting insurance policies on low level employees. It just didn't make any sense.

It makes sense to get insurance on an executive because Walmart could lose financially if an executive died. You don't expect to make money on it but it's a hedge just as any insurance policy.

But, when you're insuring thousands of employees you seem to be betting against the actuaries. Maybe Walmart knows something the actuaries didn't know...

[guzziguy]

Maybe Walmart knows something the actuaries didn't know...

Maybe Walmart knows something about their employees' working conditions.

[guzziguy]

Just thought. This gives a whole new meaning to "Go Pokes!"

[champions77]

Just thought. This gives a whole new meaning to "Go Pokes!"

I guess it sounds better than "Die Pokes".

[SoonerPride]

I guess it sounds better than "Die Pokes".

I've been screaming that for years.

[NMSooner'80]

this sounded like a horrible idea from the start. stupid aggies.

even if they make money on waiting for their boosters to die, they are waiting for their boosters to die...

I'm sure this is all somehow some "damn cheatin' gooner's" fault.

[rekamrettuB]

I was ready to start seeing Poke alums start dying in mysterious ways.

[champions77]

There is something pathetically creepy when a program's success is dependent upon people "dying". I can just hear Pickens explaining to Holder and Hargis "if just some of these folks would die like they are supposed to, this deal would have worked great for osu. How did I know these people wouldn't die?"

Apparently the economics that sold this deal was that surely, some folks will die and that will pay the future payment (premiums) obligations. When it didn't happen, they got impatient and wanted out of the deal.

They are still called "Aggies" for a reason.

[SoonerAtKU]

Just thought. This gives a whole new meaning to "Go Pokes!"

"Go into the Light, Pokes!"

[rainiersooner]

Wow - what an amazing brand building and PR exercise. Tools.

[Dio]

Moral of the story- don't buy bus tickets TO Stillwater or insurance IN Stillwater

[LASooner]

OSU Football
We Hope You Die Soon!

[sooneredaco]

OSU Football
We Hope You Die Soon!

^^
this