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TeMPOraL on Oct 9, 2015 | parent | context | favorite | on: Mercury Spill

We have a whole subthread here about how insurance companies will refuse to pay when push comes to shove; I don't really believe in the peace of mind anymore.

What I'm looking for is the ELI5 for what insurance really is about (especially from the POV of insurers) given that, if I understand correctly, 'chimeracoder is disputing the insurance-as-everyone-pooling-money model.

mreiland on Oct 12, 2015 [–]

For some definition of "reall", amirite?

people and business purchase insurance to cover unexpected loss, ie, "peace of mind".

Maybe insurance companies are evil scumbags, but that's STILL the reason why people PURCHASE insurance.

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