36 ms·
How is insurance a scam? Insurance is a bet and for an insurer to make money you have to bet that your luck is going to be considerably worse than the average.
by moocowduckquack 13y ago
How is insurance a scam?
Insurance is a bet and for an insurer to make money you have to bet that your luck is going to be considerably worse than the average.
People should just get together in large groups and pool their money, it would be much cheaper.
- oijaf888 13y agoIsn't that why most insurance companies used to be mutual co-ops and only recently have become corporations? Essentially there are insurance companies that are exactly what you describe, people in a large group pooling their money.
- xerophtye 13y ago>People should just get together in large groups and pool their money, it would be much cheaper. http://en.wikipedia.org/wiki/Takaful http://en.wikipedia.org/wiki/Takaful