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Yes, insurance transfers risk from one policyholder to a group of them including the initial one, with a third party charging a fee for shuffling their money back and forth between them. As long as ya'lls math checks profit is guaranteed. Even then there has been an alarming recent tendency to default force majeure and dismiss all claims (the most infamous case being Katrina victims with flood insurance informed "storm surge is not flooding," certainly news to anyone living near a levee.)
Yes, insurance transfers risk from one policyholder to a group of them including the initial one, with a third party charging a fee for shuffling their money back and forth between them. As long as ya'lls math checks profit is guaranteed. Even then there has been an alarming recent tendency to default force majeure and dismiss all claims (the most infamous case being Katrina victims with flood insurance informed "storm surge is not flooding," certainly news to anyone living near a levee.)
Insurance does not transfer risk from a singular individual to a group of policyholders. It transfers the risk form an individual to the COMPANY. The cost of that risk is evaluated among groups or classifications of LARGE numbers of people using statisticcs and what is comonly referred to as the Law of Large Numbers. What you do not KNOW about issurance far outweighs what you THINK you know. You are wandering in the relm of "a little knowledge is a dangerous thing" The vast majority of the conclusions you keep arriving at are wrong because you base assumptions are flawed. Please stop.
BTW: Flood insurance is a federal program (because no private company would be suicidal enough to offer it), and no homeowner's policy covers external flood. The problem arises with establishing which damage was caused by what source (storm or flood).
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Yeah, I know how the game is played—hence why it is hypocritical to imply immorality in paying a groups claims with another much larger ones money, knowing the latter must always GREATLY exceed the former. That implication is not in itself hypocritical, but from someone WHO DOES IT FOR A LIVING....
Yeah, I know how the game is played—hence why it is hypocritical to imply immorality in paying a groups claims with another much larger ones money, knowing the latter must always GREATLY exceed the former. That implication is not in itself hypocritical, but from someone WHO DOES IT FOR A LIVING....
Insurance is NOT investment. This is a real simple concept. One is Apples, the other is a block of plastic. You can not interchange concepts between them, it does not work.
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Frankly, there is no civil respectful way for me to state my opinion of private insurers, so I will not try; probably best to stay on the topic of public insurance.
Frankly, there is no civil respectful way for me to state my opinion of private insurers, so I will not try; probably best to stay on the topic of public insurance.
I am not sure how you can have a valid opinion since you have regularly demonstrated you have no idea what they actually are, and until you brought up the Federal Flood Insurance Program we have NEVER been discussing any form of public insurance. This discussion was about Social Security which is a retirement program (best analogy is a pension program) not any form of insurance, public or private.
Can You Name the Largest US Program to ANNUALLY Collect More Than It Spent for 75 Straight Years?
- 28/02/2013 11:03:18 PM
1256 Views
Medicare? *NM*
- 28/02/2013 11:38:22 PM
483 Views
No, Medicare has only been around about half as long.
- 28/02/2013 11:56:32 PM
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Medicare has its own problems, and caused many more. You really do not want to have this debate.
- 03/03/2013 03:03:15 PM
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No, I do not, because Medicare and torts are invariably scapegoated for all problems with healthcare
- 04/03/2013 12:52:37 AM
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I can argue with anyone on this (and have) btut first we need to break out that dictionary
- 04/03/2013 04:45:06 AM
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I am sure you can and have; ability to form arguments does not automatically grant them validity.
- 11/03/2013 09:56:11 PM
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Like I said, short conversation, once everyone uses the same definitions.
- 13/03/2013 03:28:52 PM
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From the way you're shitting yourself with glee, I'm going to say Social Security.
- 01/03/2013 12:45:50 AM
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Also unlike Ponzis, Social Security was not meant to profit—it just did anyway. For 75 years.
- 01/03/2013 01:55:46 AM
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It is a "Ponzi" by definition, any argument to the contrary just makes you look ignorant.
- 02/03/2013 12:02:46 PM
773 Views
Wait: An insurer is saying insurance is a Ponzi scheme? 
- 04/03/2013 12:56:30 AM
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- 04/03/2013 12:56:30 AM
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You are making even lese sense than usual... Quite an acomplishment. *NM*
- 04/03/2013 03:31:39 AM
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Maybe, but my math usually checks, and I never have to explain what I omitted.
- 11/03/2013 09:55:50 PM
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My math ALWAYS "checks" - it isn't personal, you are just making absolutely no sense, *NM*
- 13/03/2013 03:27:11 PM
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It's the world's greatest Ponzi scheme, since the government forces us to give money to it.
- 01/03/2013 01:05:05 PM
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Yes, "government forcing people to give money" defines a Ponzi; speeding tickets are Ponzis.
- 01/03/2013 03:53:02 PM
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- 01/03/2013 03:53:02 PM
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Good lord my friend.....
- 02/03/2013 04:19:35 AM
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I will just link what Isaac said; maybe then you will pay attention to it.
- 02/03/2013 04:56:34 AM
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I really think you terribly misread what I said *NM*
- 02/03/2013 06:59:56 AM
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I really do not think I did.
- 04/03/2013 01:43:02 AM
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I'm pretty confident you have
- 04/03/2013 11:49:19 AM
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We evidently disagree on what constitutes a Ponzi scheme.
- 11/03/2013 09:56:27 PM
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No, I agree with a clear definiton, you seem not to want to absorb that
- 11/03/2013 10:24:47 PM
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Re: Yes, "government forcing people to give money" defines a Ponzi; speeding tickets are Ponzis.
- 02/03/2013 12:22:34 PM
792 Views
- 02/03/2013 12:22:34 PM
792 Views
Fraud="money contributed is NOT invested for the contributor, but instead redistributed to others"?
- 04/03/2013 12:51:30 AM
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You can try and misrepresent what I have said all you want, you are still wrong.
- 04/03/2013 03:45:24 AM
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Dude, how is QUOTING you misrepresenting you?! And why must I ALWAYS ask that in these threads?
- 11/03/2013 09:56:18 PM
771 Views
- 11/03/2013 09:56:18 PM
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Well, can you get more wrong?
- 13/03/2013 03:45:08 PM
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Okay, that's a really weird or naive standard to judge SS by
- 01/03/2013 05:25:11 PM
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Great; will you put that on a postcard to Cannoli, A2K, Rick Perry and the rest of your party?
- 01/03/2013 07:39:44 PM
763 Views
- 01/03/2013 07:39:44 PM
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I don't think I'd be telling them anything they don't already know... I mostly agree with them
- 02/03/2013 05:38:56 AM
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Means testing is flat out WRONG, and the contribution limit is a sticky debate
- 02/03/2013 12:43:09 PM
687 Views
Tell that to him not me, I didn't express an opinion and my implied one obviously doesn't favor it
- 02/03/2013 05:28:14 PM
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I was, I just hit the repy under the wrong post. He was the first to bering the two topics up. *NM*
- 03/03/2013 04:09:34 AM
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It is insurance against old age poverty, not a longevity lottery.
- 04/03/2013 02:00:24 AM
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It is not insurance, it is a pension plan, that also contains an overpriced LT disability insurance.
- 04/03/2013 04:00:42 AM
790 Views
Social Security Insurance; says so right on the label.
- 11/03/2013 09:53:33 PM
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You can call it BedroomWindowVitamins but it does not change what it acutally IS.
- 13/03/2013 04:34:42 PM
718 Views
"Sustainable"=/="profitable;" bankruptcy was not always a given, as your fellows claim..
- 04/03/2013 01:35:04 AM
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Sustainable often means profitable, they are not universally synonmous but both at once is ideal
- 04/03/2013 12:25:45 PM
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That is the IDEAL, but NOT point: Sustainability needs no profit, yet profit ensures sustainability.
- 11/03/2013 09:56:48 PM
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Your attacks on republican ideals would have more credit if you understood them
- 02/03/2013 04:27:34 AM
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An ironic charge, since their defenses of those ideals typically suffer from the same defect.
- 02/03/2013 04:51:32 AM
729 Views
- 02/03/2013 04:51:32 AM
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I'm rubber you're glue, whatever you say bounces of me and sticks to you. nyah, nyah, nyah
- 02/03/2013 12:58:10 PM
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"Unsustainable"=/="meeting monthly obligations for 75 YEARS and still having $2.5 trillion left."
- 04/03/2013 01:03:09 AM
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Please look up the definition of sustainable. Hint: "its worked so far" isn't it.
- 04/03/2013 04:25:19 AM
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"As it is currently constructed/funded" is one HELL of a qualifier.
- 04/03/2013 04:41:30 AM
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You just don't get it, or apparently are so in love with your political ideology you won't.
- 04/03/2013 04:58:15 AM
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I believe if you check civilizations record you will find the human population has steadily risen.
- 04/03/2013 05:08:38 AM
732 Views
*sigh*
- 04/03/2013 12:15:22 PM
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Birth RATES have fallen; POPULATION steadily rose in every period except the Black Deaths peak.
- 11/03/2013 09:56:36 PM
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Ironic that you would make my point while arguing against
- 04/03/2013 06:12:29 PM
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?
- 11/03/2013 09:56:59 PM
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you mistate his posistion and then rationalize that you know what he really meant
- 13/03/2013 12:06:44 PM
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aH yes the great liberal investmetn/retirement plan that offers me a NEGATIGVE rate of return...
- 02/03/2013 11:51:50 AM
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Do you sincerely believe people earning $14,560/year can afford investing 4% of it?
- 04/03/2013 12:53:30 AM
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*sigh*
- 04/03/2013 03:43:08 AM
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I tried it with compound interest; $44.80/month at 4% for 50 years still does not get to $1.25 mill.
- 04/03/2013 04:24:51 AM
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Here are some clues.
- 04/03/2013 04:37:39 AM
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It is math, not the Riddle of the Sphinx: EIther it adds up or does not.
- 04/03/2013 05:02:39 AM
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Math is simple - Either you know how to calculate it or you don't
- 04/03/2013 11:55:24 AM
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SS is supposed to supplement a proper pension, not provide your sole income after retirement
- 05/03/2013 03:53:03 AM
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Did you bother to actually read anything?
- 05/03/2013 02:32:16 PM
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do *YOU* know what "living in poverty" means?
- 05/03/2013 05:49:14 PM
762 Views
Re: do *YOU* know what "living in poverty" means? --- yeah, I've BEEN there.
- 05/03/2013 08:01:33 PM
730 Views
how about respond to a post with logic and civility instead of being a troll for once?
- 05/03/2013 11:03:00 PM
818 Views
All I have used is civility and logic, or least as much civility as was warrented.
- 06/03/2013 04:28:04 AM
759 Views
yeah, it's my fault for stooping to your level....
- 08/03/2013 07:22:24 PM
812 Views
Re: yeah, it's my fault for stooping to your level....
- 10/03/2013 01:42:26 PM
680 Views
i'm not going to keep going in circles so i will finish with this....
- 11/03/2013 10:08:53 PM
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"Rah! Rah! Rah!" Can we please cut out all this blather and bile?
- 05/03/2013 11:53:41 PM
695 Views