Thank you for providing an actual example of insurance that works this way. I actually looked at the insurance article on wikipedia and it was describing what I

Thank you for providing an actual example of insurance that works this way. I actually looked at the insurance article on wikipedia and it was describing what I was describing (unless I missed something about universal life insurance). And I actually had auto, property, and health insurance in mind more than life insurance. That being said, the important distinction still stands: Social Security is unfunded, which makes it subject to a kind of risk that funded insurance programs are not exposed to.