3 ms·
The difference is that banks provide economic incentives for people to deposit money. What incentive is there for a 20-something to spend $200/month for someth
by j_baker 17y ago
The difference is that banks provide economic incentives for people to deposit money. What incentive is there for a 20-something to spend $200/month for something they will probably never need?
- kreneskyp 17y agoThe incentive is that they will have coverage when they need it. Everyone will need coverage eventually because everyone gets old. That incentive can't exist as long as insurance companies exclude people for pre-existing conditions, change rates, etc. Noone wants to pay into the system that they know is setup to not pay out.
- jrockway 17y agoThe incentive, for me anyway, is that I can afford $200, and now I never have to worry about "what if I get cancer" or "what if I'm in a bicycle accident and need major surgery and months of physical therapy". I mean, both situations are bad, but I won't have to worry about "how will I pay for this" in addition to "how much longer am I going to be on Earth". IMO, it's money well spent. So far, my insurance company has won in terms of dollars made, but I've won in terms of peace of mind. Not everything is zero-sum.