NLIC.org

Leona Said:

What would an opponent of healthcare/insurance reform do if...?

We Answered:

the opponents of this new healthcare bill fail to care about other people's health.

"Everything is fine the way it is"
"I'm going to be taxed to death - I just know it"

wrong and wrong
learn to give a little.. what would Jesus do?

Nancy Said:

When should the Federal Government be Allowed to Forbid Certain Contracts?

We Answered:

I think one of your basic ideas is incomplete. You wrote:
"Insurance is a bet. The insured is betting that he will get sick. The company is betting that he won't. "

No. Everyone knows that almost everyone will get sick, the unknown is when and how much it will cost.

Actually, insurance primarily is a risk spreading device, not just a betting game. That is why you can't take out an insurance policy on someone else's health. You must have an "insurable interest."

Insurance allows individuals to share risk with other individuals, and spread the risk over time. The manner in which that risk is spread, the details of the policies, and sometimes even price, are factors been heavily regulated by government and/or industry associations since insurance came into common use. The purpose of the regulation is to make sure that the insured is receives the protection paid for, while allowing the insurer a reasonable rate of return.