We all know the fast food industry produces high fat meals that give people heart disease, diabetes, obesity, liver damage and stroke. So why are US insurance companies investing in them? To make money of course. Just to confirm something we have all known for years: insurance companies are totally amoral, bordering on the unethical.
According to this report , Harvard Medical School researchers have found that 11 large companies that offer life, disability, or health insurance owned about $1.9 billion in stock in the five largest fast-food companies as of June 2009. The fast-food companies included McDonald's, Burger King, and Yum! Brands which is the parent company of KFC and Taco Bell. The list included insurers from both North America and Europe were including Massachusetts Mutual, Northwestern Mutual, and Prudential Financial.
Study author J. Wesley Boyd, an attending psychiatrist at CHA and assistant professor at Harvard told The Wall Street Journal that insurers are making an absolute fortune from the investment. To hell with their clients' health. Boyd says: "They're profiting directly off the people who eat fast food, and if that leads to obesity or cardiovascular disease, they'll charge you more for premiums if you have some of those conditions. They're making money in either case."
These are the same insurers who invest in tobacco companies. By investing in tobacco, they can increase the premiums of smokers' life and health insurance. They make a real killing, literally.
Obesity, heart disease, strokes and lung cancer wipe out more lives in today's society than anything else. Either way, the insurers are laughing all the way to the bank while people are dying.
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