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That insurance companies are able to make a profit implies that in the aggregate, people lose money on it, just as with gambling.
by eddd-ddde 2y ago
That insurance companies are able to make a profit implies that in the aggregate, people lose money on it, just as with gambling.
- bluecalm 2y ago"Food companies are able to make profit implies that in the aggregate, people lose money on it, just as with gambling". The argument is simply incorrect. Insurance companies provide a service, not +EV (money wise) investment. Same as any other service companies - they make profit, the customers benefit.
- EasyMark 2y agoNot losing money so much as making money for a service (insurance). Hopefully it’s reasonable one and not exorbitant for the customer if there’s enough competition in the insurance market