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[–] Broc_Lia 0 points 7 points (+7|-0) ago  (edited ago)

That's how insurance works though, most people won't get more money out than they put in. If they did where do you think the money would come from?

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

Agreed. In theory, pooling and amortizing risk over a group is a wise thing to do. In practice, with live humans, everyone ends up assuming their own problems are the most worthy of securing the pot. Additionally, whichever company manages the fund (hopefully doing legitimate actuarial leg work) will end up being loathe to pay out for even legitimate claims.

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

In practice, with live humans, everyone ends up assuming their own problems are the most worthy of securing the pot. Additionally, whichever company manages the fund (hopefully doing legitimate actuarial leg work) will end up being loathe to pay out for even legitimate claims.

Those are legitimate concerns, which is why it's much better to organise it at a community level (like fraternal societies used to) so there's a social price for fucking around.