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If insurances dont cover you for future risks its not worth calling it this way. Insurance's only purpose is to help the minority of us who will get serious pro
by ekianjo 3y ago
If insurances dont cover you for future risks its not worth calling it this way. Insurance's only purpose is to help the minority of us who will get serious problems throughout their lives, not that exclude them.
- 3cats-in-a-coat 3y agoIf it’s predictable you’ll fail, that’s not insurance. Insurance is about unpredictable failures. It may sound odd, but it’s the nature of it.
- photonbeam 3y agoCoverage or cost sharing then
- 3cats-in-a-coat 3y agoMaybe but the cost is already high even when you exclude those who deliberately drive it up.
- l33t7332273 3y agoDescribing people with cancer and dementia as deliberately driving up insurance prices just seems wrong
- est31 3y agoThere is probably a difference between someone losing their health insurance after the insurance company finds out about their upcoming Parkinson disease, or their car's insurance sending an SMS about tripling the premium, and someone creating a life insurance contract for a million bucks one day after their diagnosis with a quickly killing unstoppable cancer type.
- lelandbatey 3y agoInsurance is absolutely not here with "the purpose of helping the minority of us." Insurance is a business built on exploiting information asymmetries to make money from groups who they try to show empirically can't actually cost more than they pay. If they can find a way to exploit extra information in order to show you're in a riskier group and hence exclude you from coverage, they will. They have absolutely no reason not to. Insurance companies and you absolutely have an oppositional relationship; they love when we collectively ignore this.