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[–] WinterIsComing ago 

When we pool our risks with others through insurance policies, we reduce the financial impact of unforeseen accidents or illness or premature death in return for a premium we willingly pay.

For some reason, this came across as extremely collectivist to me. So much so, that I closed the article and came here to write a comment about that. After thinking a bit, it's not really collectivist, but I still think it's important that the author not turn away readers so soon.

Very good article, the distinction between insurance and prepaid "insurance" is a good one, and one I wish more people understood.

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[–] Deminar 0 points 2 points (+2|-0) ago 

Perhaps it would have been better to use a term like "groups of individuals" instead of "we". Insurance pools are, to a degree, naturally collectivist, as they aim to disseminate risk over groups of voluntary participants. I can see what you mean though -- I don't care for the word "we" much, either.