Sure, but tail risk funds are a specific "thing" - you're generally doing exactly what you described - selling out of the money puts on a constant basis in the

Sure, but tail risk funds are a specific "thing" - you're generally doing exactly what you described - selling out of the money puts on a constant basis in the event of a tail event, knowing you are going to lose that money 99% of the time. Betting on gold is certainly a bet like insurance, but it's not a tail risk. There's even an ETF for this now: TAIL