Quote:
Originally Posted by pilotbob
Do you have auto insurance? Fire insurance on your house? Flood insurance? Life insurance?
That's the whole point of insurance... to protect you from the unexpected even if the chances are small that you will need it. When you are buying insurance you are betting you will need it and the insurance company is betting that you won't.
BOb
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An interesting point on this - almost every type of insurance is intended to be purchased and hopefully never used. I hope I never get in an auto accident but I'm insured just in case. I hope my home never suffers a catastrophe, but I have fire/flood insurance just to cover myself just in case. I REALLY hope my life insurance is never needed

but if I get hit by a bus on the way home today, I know my wife will be able to keep our home and have time to figure out how to support the family as a single parent.
But I have health insurance because I know that I (and my family) will have multiple visits to a doctor during the year, and insurance helps manage my own costs. A health insurer has a totally different set of costs and payouts than any other type of insurance company.