- 21,580
- 10,195
- Joined
- Apr 15, 2007
Its funny how a name makes something ok
Investment Ponzi Scheme - Money is paid back to investors with their own money...or money from other investors.....illegal
Car insurance - money is paid to those who mess up and get in car accidents...if you never get in an accident you lose all the money you paid in...with 0 benefit....Multi Billion dollar legal industry
I was looking at my personal finance records for the past couple years just for fun. I drive a toyota corolla, very safe car, 4 cyld engine, not a high risk...on low bottom of the line insurance...in the past 3 years i have paid $3,600...and my 6 month payment hits next month for a total of $400 making it $4,000 paid to geico without getting anything in return. I have never been in an accident and have been driving since i was 16. When my mom paid my insurance as a kid im sure she paid a decent amount too. 9 years of paying something and receiving absolutely no benefit.
Im sure total im around 10k paid to insurance over my driving life. Which would even cover me totaling some one elses car assuming its an average commuter car. I wish there was an opt out ability
Just because you don't receive any money doesn't mean you receive no benefit. IF something ever happened you'd be INSURED. That's the point. I see where you coming from though.
I hate that its IF.....and you don't get an option. I understand the purpose....but i have a hard time believing if you are a good driver that over a life time....it is anywhere near worth it. Not to mention how much money insurance companies make and how flawed the system is because each company is its own Judge Jury and Executioner in a lot of the accidents, and if they are not you have to depend on a lawyer to suck even more money out of you.
I feel like it should just be government regulated at the least not privatized (i know i know you are a fascist, sorry) its stupid that we are forced to have it and companies can then rape us for our money.
love that place.
