two_bit_score
Super Star Member
- Joined
- Dec 22, 2008
- Messages
- 11,834
- Tractor
- John Deere 110 TLB, Diamond C 19LPX GN trailer
Insurance, like it or love it, is the backbone of the economy. Who could afford a house if you couldn’t insure the mortgage against physical loss from fire, flood, windstorm, etc and therefore would have to pay cash or put up other property to secure a loan? Nobody, same with liability coverage, health insurance and business insurance, life insurance.History shows that those that do all the right things often have similar outcomes as those who don't when it comes to insurance because government covers the shortfall...
Fires, Floods, Earthquakes, Tornados, etc...
Health Insurance really is no different...
I started paying my own Prudent Buyer health insurance at age 18... It was not an optional as laid out by my parents... started at $48 a month and it took one weekend of my weekend job to cover it... paid into it 15 years until I went to work where benefits offered...
Not a single claim in 14 years. At one time I wanted to upgrade and was told I had insufficient medical records and would have to pay for a full physical and blood work to be considered...
I guess having no claims was a red flag?
Covered California is suppose to cover everyone and I know families that pay nothing but if I sell Real Estate I'm slapped with a tax for insurance???
They are the ultimate middle man and their money greases all the wheels in the economy. They are the goose that lays the golden egg at the right time. The system would not work without them.
That is exactly why all insurance is closely regulated. Not near closely enough for me but close enough to make the rest of the country to feel ‘safe’ that their future is protected.
Insurance is an ‘essential scam’.