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I mean, think about it.
Auto insurance. Legally Mandatory. Basically, you are gambling that you will get in an accident. If you do, you "win", however, you may have been hospitalized, and at the minimum, you are inconvenienced as you get your car repaired... that is, if they pay out and you don't have to fight with them. If you don't get in an accident, you "lose" and the house takes your money. Even when you "win", you lose because the offsetting of costs to the house involves raising your premiums or being thrown off your insurance plan. If you "lose", your premiums are not lowered in most cases.
Health insurance. Pragmatically Mandatory (just try paying a hospital bill yourself and you'll understand what I mean). Basically, you are gambling that you will get sick. If you do, you "win", however you may have been hospitalized, and at the minimum, you'll probably have to make some form of co-payment, meet a deductible, and the medications you need aren't on your plan's "approved" list. If you don't get sick, you "lose" and the house takes your money. Even when you "win", you lose because the offsetting of costs to the house involves raising your premiums or being thrown off your insurance plan. If you "lose", your premiums are not lowered in most cases.
Hazard insurance. Pragmatically Mandatory (protecting your living investment should be a no-brainer considering the amounts involved in their replacement). Basically, you are gambling that lightning will strike, your roof will leak destroying your computer, or some other major calamity will befall your domicile. This is actually a good thing to have, it's largely reasonably priced, and represents insurance against things likely to happen at some point during the useful lifetime of a static structure. However, hazard insurance also likes to play the betting game. You want to know how I know that global warming is a real threat? Insurance companies no longer cover flooding in the standard hazard insurance package. That's a separate policy in most cases. I wonder why. (Rhetorical questions do not deserve question marks.)
Life insurance. Not mandatory, just ghoulish. Basically, you are gambling that you will die. If you "win", someone else gets the money (and you're dead). If you "lose", you're alive, but the house takes the money. If you're reading this and can't see the total absurdity of this arrangement, well, I have this rock for you. Apply directly to the forehead.
In every case, the "house" walks away with nearly all of your cash, and the second you need the "payout" usually you'll get shafted somehow after the fact.
Now I understand why gambling is illegal in most states. Slot machines have better payout odds, and they don't bury their foot in your ass when you occasionally win. That would amount to competition.
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