The reality is that everything comes with a risk. You are ‘at risk’ as soon as you get out of bed in the morning, but also ‘at risk’ if you remain in bed all day.
Nobody promised life would be easy, and everywhere you turn someone is trying to sell you on the idea that some form of insurance is necessary.
The most famous example is the Kenyan Messiah, but Killary Klinton (aka Hillary Clinton) pushed the government takeover of health insurance long before Barack Obama did. She is also the ‘original birther’, having gone after him on that issue during their 2008 democRAT Primary battle, which is LONG before anyone else ever did.
So, when aren’t you at risk? Easy! Before you are born, and after you die. Other than that, you are always at risk, even if you don’t believe you are.
Which brings us back to insurance. There are all kinds, but the main types are expensive and cheap. What they cover doesn’t really matter, so much as the cost of the coverage does.
And that is where the old ‘cost-benefit analysis’ comes into play. Boring but necessary. Actuarial tables aren’t going to write and read themselves after all. Someone has to do it, and they are destined to both live and die alone.
Basically, the cost-benefit analysis simply compares the costs to the benefits of any action (or inaction) when both are expressed as monetary units.
Not to be confused with the risk-benefit ratio, which examines the risk of a given action compared to the potential benefits of that same action. In that case, the human factor weighs heavily on the potential risk.
For those completely out of the loop, and congratulations, actuarial tables can involve things like mortality or life expectancy, and are simply statistical methods used by someone interested to predict how, when and why a person will croak…we mean die.
Which leads us to an interesting example of insurance in action. We wanted to use poker professional Phil Hellmuth (who won the World Series of Poker Main Event in 1989) constantly asking to buy insurance to protect his hand when he is a favorite, but couldn’t find ANY footage of that online, and linking to an article about it would be boring (see this very one as an example), so we had to settle for jewelry theft.
Back in 2016, Kim KarTRASHian (aka Kardashian), was in Paris, France, for some whoring or something, and a group of masked men (likely practicing for ‘the covid’) took ALLEGEDLY $10 million worth of her jewelry from her and may have had a gun and knife. We don’t know, as we weren’t there.
Supposedly, Kim was bound and gagged, which for her is foreplay. The men had used her own internet posts to track her down, which points out the obvious flaw in detailing every minute of your day on socialIST media.
According to various reports, she either recovered NONE of the jewelry, or 1-2 pieces of it. Originally, 5 men were accused, but in the end 12 men went to trial over it. One of the accused, Yunis Abbas, said that Kim actually called 911 in the USA…from Paris…during the incident.
Despite what Kim had claimed the jewelry was worth, the insurance company paid her $6.1 million, then sued her for the same amount. The lawsuit was settled 2 years later, and the terms are undisclosed.
So, given THIS example, why is insurance a thing? Confusing, isn’t it? And if you think that is bad, look up the poker insurance thing. Even the people involved in that, on both sides, don’t understand it. They just like the action.
Hopefully you are all enjoying our site format change (announced HERE) as much as we are in bringing it to you. We are having so much fun learning about insurance that we are now considering becoming an insurance agent ourselves. Jamison, take a letter…
You can find us on social media here:
Parler is likely gone for good as of April 14, 2023.
Twitter account abandoned May 12, 2023, after Elon Musk hired WEF’er Linda Yaccarino as new CEO.
NOTE: We post new content regularly, and have a Comment section here in the shed (below every article), so please use it and help build the Reality community. If you enjoy our work please consider supporting Reality by using the “DonorBox” donation link, or the ‘Buy Me a Coffee‘ donation link…or both. Either way please bookmark us and help spread the word to family and friends. Thank you.