But that's what a welfare state is for, isn't it? To act as a kind of collective insurance, paid into by everyone, that mitigates these sorts of disasters. You'

But that's what a welfare state is for, isn't it? To act as a kind of collective insurance, paid into by everyone, that mitigates these sorts of disasters. You've just lost your job? Here is some money for the time being to tide you over, and support for finding a new job. You've just had a health emergency? Here's sick pay from work, and the potential for support if this is a long term issue that prevents you from working (and the healthcare is already covered). Your house was destroyed in a freak accident? Here's temporary accommodation, and a bunch of organisations who will try and stop it happening next time. Fwiw, this is all pretty idealised, and in practice a lot of these institutions can break down, or don't provide as much support as they should, or whatever else. I agree that insurance is really valuable in a lot of these cases, and you should get it if you can. But I think there's generally a problem if these sorts of benefits are only available to those whose parents are rich enough to provide that safety net.