[PLUG-TALK] Insurance (was: Mad SCO Disease)

[Brent Rieck]

gepr at tempusdictum.com wrote:
> And in the short term, 
> insurance can give one a sense of freedom so that they don't have
> to have as much money in their emergency savings to cover medical 
> or whatever costs... because they have insurance.  Or in the case
> of auto insurance, one can drive a little more recklessly because
> they're fully covered.  Etc.

I think insurance is primarily a tool to lower financial risk in 
exchange for a monthly fee, at least that's how I and people I know use 
it..  It's often impossible to have the amount of cash required for the 
kinds of things you get insurance for in emergency savings, and wiping 
people out financially does not help society in any way.  In a future 
where the term "personal wealth" is meaningless that won't be so, but in 
  the place we live right now it's a problem to have no money.

--Brent