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[Nelson Boils]

Why do we give the insurance's our money?

Life insurance?Car insurance?Medical insurance?

Why not just keep that 300bucks we spend on any insurance into your bank account,then whatever mishap that may come upon you,you know that the money is in your bank account?

So, insurance is like giving money to someone to save it for you should any mishap come upon you-why not save the money yourself?

What you think?

[Dennis Vogel]

Trust God but wear your seatbelt. Do not tempt God.

Mat 4:7  Jesus said unto him, It is written again, Thou shalt not tempt the Lord thy God.

[Joel]

Good advice Dennis,
I was guilty of not wearing my seat belt on the two mile trip to where I worked back in the early 2000's.
One morning at about one mile, a young kid went to sleep, crossed over into my lane and hit the front passenger fender of my truck. He flipped his truck over on the top and slide through the intersection.
I had just started back wearing the seat belt a few days before, I only suffered a few bruises, Thank God!!
Where I live car insurance is required by state law, that's a good thing in my opinion.

Joel

[Dennis Vogel]

Also, it's very easy to run up $500k in medical bills. It would take you a long time to put enough money in the bank to protect yourself. You have to be rich to self-insure.

[rumpelstiltskin]

There's also pet and bike insurance. I do have to admit bikes are very expensive these days and so are vet bills.

[indianabob]

Hi Nelson, fair question...

Insurance is simply a means of sharing the risk of unexpected injury or loss.

When I was a child in the 1940's there was an organization called a burial society.

Everyone who signed up paid a $5.00 entry fee to cover bookkeeping expense and immediate claims.
Then when ever any member of the association died a penny post card was sent
out to all the members billing them for $1.00 which was then turned over to
the beneficiary or the widow of the man who had died. There was a $500.00 cap
on the policy so that as time passed some excess did accumulate.

However, No expense until a death occurred.
but if there were several deaths in one year the cost could go up. So it was a pay as you go type of insurance and everyone in the local area knew the people who had died so there was very little chance for fraud.

So later they reorganized the insurance policy so that everyone paid a certain amount in advance
which was put in the bank to draw interest and so that the benefit was available right away.

That is just about the way it is done today.
The insurance company doesn't have a lot of money of their own.
They pay claims out of the premiums that the members send in each month.
Of course to remain successful the company needs to be careful about the type of people
they issue insurance policies to. E.g. no cancer patients or soldiers going to war, no reckless drivers, no drug users etc. Otherwise the premiums would be even greater and the company could run out of funds.

The operation is relatively simple if it is kept honest.

[Rhys 🕊]

Seems to me it is a good situation to be in to look after others and insurance is a way to do that especially with the high costs these days. If you can save the money then good but few can do that. I have more insurance now than i use to but are more interested in others being looked after than myself.


1Ti 5:8  But if anyone does not provide for his relatives, and especially for members of his household, he has denied the faith and is worse than an unbeliever.

2Co 12:14  Here for the third time I am ready to come to you. And I will not be a burden, for I seek not what is yours but you. For children are not obligated to save up for their parents, but parents for their children.

If you can be in a position to help others then you should do so.

Rhys

[Nelson Boils]

I'm not saying one should NOT wear a "seatbelt" but,instead of giving someone your money to put a "seatbelt" on for you,why not just keep that money and put the "seatbelt" on yourself?Why not save that monthly premium yourself?

$500k?We talking operations and major costly sicknesses.Suppose it depends with each individual.How often do they get sick?How bad is the sickness?How costly is it?What type of badluck befalls a person?Accident,death,etc.

Example:
Say you spend about $2k on insurance a month.
$2000x12 months=$24k
In a year you gave a stranger $24k to put a "seatbelt" on for you.And..and you not even sure whether or not they will pay out or live up to their word should anything bad happen to you.

I have heard some people who've had bad experiences with insurance companies.Some don't pay out.Some don't live up to their word.My relative works for a huge insurance company and they do a lot of fraud - according to him.

If only the operation was kept honest,indianabob,if only!

Pet insurance,life insurance,medical insurance,bike insurance,car insurance and wait for it...there is now, salary insurance,business insurance.Then there is what we call in my country,unions,they are a type of an insurance - like,"pay us x amount per month,then should you get dismissed unfairly at work,or mistreated,we will fight for you."!Insurance insurance and more insurance.Then there is the insurance of having a lawyer to fight your battles,should any badluck fall upon you.

Mmmaan!!This life is expensive!

What a life!!

[Extol]

It's a big business, because people worry and they like to feel secure.

Speaking of worry...Nelson, I get the impression that you worry too much about what's going on in the world. Several of your posts have been about various schemes and fraudulent business practices of men, and have a sort of "woe is me" feel to them.

Unless your job relates to them somehow (e.g.,lawyer), or if you've been personally victimized by fraud,  why worry about them? It's not our job to reform the corrupt businesses of the world. Politicians are corrupt, financiers are corrupt, insurance companies are corrupt... So what? God is in control of all this. He will judge--and correct--all of them in due time.

Seek first the kingdom of God, and his righteousness...