I'm not talking about children. We plan for exactly those situations .. lay offs and illness etc. That's the point of the exercise.
Yes, but car insurance, health insurance, home owner's insurance, life insurance--those are necessary, and in some cases required by law. Insurance companies often make deals with health care providers but it seems more and more like those deals work well for them while we still pay for both the insurance and the medical bills. We can't just choose not to have any, so it's like we're pawns in some kind of ponzi-scheme. Auto insurance is required, but if you have an accident rates can go way up or you can be cancelled. It's almost like we have to have it, but we better not use it.
No they're not necessary at all. We don't own cars of insurable value (we only carry third party cover .. which is compulsory). We never cover home contents because we can replace the lot via charity stores for the price of two years premiums. We don't carry life insurance because it's a massive rip off, and we've set up our lives in such a way that it wouldn't be necessary. No health insurance as we have public health.
What happens to the money of people who died in there 40's and didn't get there money back? Is that fair?
Wisconsin was the last state to require auto insurance around 2009. You would think a person like me my auto insurance should be around $2 bucks a month with no claims ever in 38 years of driving, but it's not I am paying for rich people and reckless drivers that I have no control over, it's not fair.
Since when is life ever "fair"? Are you going to start penalizing those who live BEYOND the average lifespan because they are receiving more than they paid in? The concept of Social Security INSURANCE is that you don't want to be in a position where you NEED it but IF you do then it is way better than having nothing at all. Since SS is backed by the government of We the People that we can hold ACCOUNTABLE it is a way better option than PRIVATE insurance where you can be ripped off.
No the concept of social security is when the average life span in America was 60 years old today its 80 years old To make it simple when social security was made in 1938 (?) They where betting you would die before collecting it was a ponzi game, a game of chance where the government had the odds in its favor. Who knew that technology would bust that game wide open and they would have to pay out.
I can't see how that can be true beyond medical, and compulsory third party motor insurance. All else is optional.
Homeowners insurance is required for a mortgage. Additional policies such as flood insurance is required in certain areas. Things like life insurance or cancer policies are not required, but sometimes come with comprehensive health plans. It just depends on where you live.
Okay, things are very different in America. We have no compulsory insurances beyond Third Party Motor, and public liabilities (for businesses), here.
I generally agree, but protecting one's self from other idiot drivers, or a stray flash flood isn't necessarily a bad thing. What has happened over years, is insurance companies have decided they make more money when they go a la carte on coverage. So, while you are thinking you are covered in a policy for a tree falling down on your house, best read your policy and make sure it has wind damage coverage, still. They may have eliminated it, and you are required to buy a 'rider' specifically for the disaster du jour. That is the underhanded rip off.
The minimum requirements vary by state, and you're not required to insure the vehicle itself unless the auto loan lender requires it. Most of the states require some kind of bodily injury and property liability insurance. I had an accident once, and the insurance company paid off the balance of what I owed because the vehicle was worth more than what I owed. Sometimes, people get the cheapest policy to satisfy legal requirements and find out that it's a waste of money.
Funny that your own link called it a tax, if it was a 'bogus allegation' then why are you posting things supporting the fact?