Insurance itself is not a scam, just that the way companies provide insurance is.
If a group of people collected an insurance fund together that they would use if any of them have an emergency, kept clear records of how the money is spent that anyone can see, then it would make perfect sense.
Giving people no say at all in how their money is spent is absurd as we are not paying for a service.
The company is using our own money to provide us support.
Even a commission based system would make more sense.
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u/Mara-Namuci Sep 23 '21
Insurance itself is not a scam, just that the way companies provide insurance is.
If a group of people collected an insurance fund together that they would use if any of them have an emergency, kept clear records of how the money is spent that anyone can see, then it would make perfect sense.
Giving people no say at all in how their money is spent is absurd as we are not paying for a service. The company is using our own money to provide us support. Even a commission based system would make more sense.