Last night I made a post on Facebook saying the following:
I get annoyed paying for car and home insurance….it’s pure profit for the Imperialist White Supremacist Capitalist Patriarchy! The rich get richer, while the rest of us…
The resulting response was interesting. More “liked” the post than I predicted might. Comments left were interesting, too. One said “so rent and take a bus.” Given the realities we have, this is not practical. Public transpiration is not available and renting cost far more money than owning a home.
My main thought was has developed into the notion that insurance is unethical for a few reasons.
Ideally insurance creates a pool of funds to be used by a subscriber/contributor in times of tragedy. Someone might pay $2,000 a year for car insurance, end up in a wreck and need $10,000 worth of repairs to a vehicle, which would come out of the pool. (Most people pay far, far more into the pool than they ever use.) In reality, said subscriber would have their monthly/yearly cost increased and no matter what, the individuals at the top are collecting huge profits off of everyone else. In the case of a car or house fire, the insurance company will sue someone to get their money back. Insurance companies should have zero profit.
So, we’re penalized if we actually use insurance and insurance funds make those already in charge and rich, even richer.
Insurance (all forms of it) also plays into the “culture of fear.” We can buy insurance to cover anything and anyone “just in case.” I remember once buying something at Best Buy that was under $100 and being offered an insurance plan for $10! And in cases, insurance is legally required.
My ultimate thoughts about insurance are if we we’re truly an ethical, kind, loving society and behaved liked the Christian nation so boasted about by many, when tragedy struck, we would just help that person. This would be far cheaper for everyone and much more humane. But, because it would cost the IWSCP money and play into (unfounded) fears of “communism” and its dangers, it won’t happen anytime soon. In other cases, such as with iPhones, you wouldn’t need to pay several hundred extra dollars in case the product was defective, the company would just replace it.
Another big issue today is heath insurance. Health insurance companies hated the idea of Obama Care but they sure enjoy the additional profits now. Like with other forms of insurance and even more so, health insurance should be illegal. If people need health care, they should be given such care.