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Other => Politics & Society => Topic started by: Tash on September 05, 2021, 06:24:53 AM



Title: Insurance is a pyramid scheme
Post by: Tash on September 05, 2021, 06:24:53 AM
The Insurance system is nothing else as a legalized pyramid scheme
Everybody pays into a pot of money, Some get paid out, others more and the main profit goes to insurace companys.
The top of the scam is the life insurance. Mine will be a multsig bitcoin address to cover burial costs (Natural  green  (https://www.independent.co.uk/life-style/health-and-families/green-burials-plans-for-new-biodegradable-human-seed-pods-to-replace-traditional-coffins-a6678511.html)tree seeding burial)
 Life goes on 🌴  (https://www.capsulamundi.it/en/)

https://i.ibb.co/C1N1HjS/temp.jpg (https://imgbb.com/)


Title: Re: Insurance is a pyramid scheme
Post by: franky1 on September 05, 2021, 12:52:21 PM
wow. tash doesnt even understand how scams work


insurance is a ponzi..
new monthly premiums used to pay older members payouts..

..
a pyramid is about recruiting like 3 people whos main job is to recruit 3 other people where the dont get paid really from selling products, but get their main income from the recruitment sign up fee of those below


Title: Re: Insurance is a pyramid scheme
Post by: UKprod on September 05, 2021, 02:59:47 PM
Well, insurance is neither a pyramid scheme or a ponzi scheme. Insurance premiums are calculated based upon actuarial sciences and calculations. Hence, if you are buying something like a car insurance, the insurance company fixes up the premium based on the probability of the payment that might flow and accordingly charge the premium. In case of term insurances which are only until some fixed age, like 60, the life insurance company will calculate the probability of you dying and accordingly charge the insurance premium. There is a complete field of studies behind this, called actuarial sciences. I would suggest you research more on this.


Title: Re: Insurance is a pyramid scheme
Post by: TwitchySeal on September 05, 2021, 11:55:44 PM
The Insurance system is nothing else as a legalized pyramid scheme
Everybody pays into a pot of money, Some get paid out, others more and the main profit goes to insurace companys.

Yeah you're confusing pyramid scheme with ponzi scheme.  And still wrong since insurance companies aren't promising any profit on investments.

I think of insurance companies more like sports bookies that let you hedge your lifes biggest bets (risks).


Title: Re: Insurance is a pyramid scheme
Post by: Natsuu on September 07, 2021, 05:38:16 AM
Isn't insurance just a recommendation for you to have, and a must have at that. But you're free to just not get one.

Its a yes or no situation if someone offers you one.


Title: Re: Insurance is a pyramid scheme
Post by: Tash on September 07, 2021, 05:42:52 AM
Isn't insurance just a recommendation for you to have, and a must have at that. But you're free to just not get one.

Its a yes or no situation if someone offers you one.


Did you swallow a goanna at the time, or is your throat malfuntioning from time to time?
https://youtu.be/CD8tKbE7duA


Title: Re: Insurance is a pyramid scheme
Post by: Cnut237 on September 07, 2021, 10:27:07 AM
Insurance

TBH, given some of the posts we see in P&S, I'm surprised that no-one is shrieking that insurance is communism, and anyone who pays for insurance should be hunted down by a baying mob.
It's a means of socialising risk, isn't it? Everyone pays in, in order that those who are unfortunate enough to need the payouts can get them.


Title: Re: Insurance is a pyramid scheme
Post by: Xinarae* on September 07, 2021, 02:15:44 PM
Insurance usually helps reduce human risk the insurance industry plays a very important role in the economic development of any country. Insurance helps in raising capital by collecting small savings from the public guarantees compensation for human life debts and property with such assurances people can feel safe in their workplace and concentrate on their work. Individual production increases Pyramid schemes rely on profits from recruitment fees and rarely involve the internal pricing of actual products or services.


Title: Re: Insurance is a pyramid scheme
Post by: Tash on September 07, 2021, 02:33:36 PM
Insurance helps the isurance company with nice paycheques.
Every day million times over "I dont care its Insured" aka other suckers pay for it.
I contributed to my own life insurance and pay out to myself, the communist leeches get nothing.


Title: Re: Insurance is a pyramid scheme
Post by: mu_enrico on September 07, 2021, 05:30:44 PM
TBH, given some of the posts we see in P&S, I'm surprised that no-one is shrieking that insurance is communism, and anyone who pays for insurance should be hunted down by a baying mob.
It's a means of socialising risk, isn't it? Everyone pays in, in order that those who are unfortunate enough to need the payouts can get them.
LoL, yeah it's communism ;D
BUT you can opt-out and say "leave me alone" to the telemarketer.


Anyway, pure insurance (without unit link and stuff), ain't like pyramid or ponzi. Agree with TwitchySeal, it's more like bookies.


Title: Re: Insurance is a pyramid scheme
Post by: franky1 on September 07, 2021, 09:19:19 PM
ponzi's are not limited to "investments"
but heck.. isnt insurance an investment into future care/repair/compensation later

anyways
both ponzi and insurance are not tangeable assets. they are contracts of service with lots of loopholes and methods to avoid payments.
the only subtle difference is that insurance is meant to pay out to the ones in need not the ones in greed

with that said. insurances are only inviting due to how they create a fake value system of the costs of things without insurance

EG if 1 doctor on $200k a year. 3 nurses on $60k a year. went into a room thats rented at $10 a year
on paper the real value of a 4 hour surgery
is
~$300 doctor
~$180 for 3 nurses
~$5 for the room

so less then $1k all in.. yet due to the value system they make it appear as $80k per surgery

thus comes in the wealth promise, inverted. a ponzi of saying it will protect against debt by investing in insurance

its legal because insurance can offer good. but over the last 2 decades in some countries. its actually a bad deal.
which is why things like the US government are always trying to change healthcare laws and insurance packages to try finding the 'good' line


Title: Re: Insurance is a pyramid scheme
Post by: Tash on September 08, 2021, 04:23:39 AM
TBH, given some of the posts we see in P&S, I'm surprised that no-one is shrieking that insurance is communism, and anyone who pays for insurance should be hunted down by a baying mob.
It's a means of socialising risk, isn't it? Everyone pays in, in order that those who are unfortunate enough to need the payouts can get them.
LoL, yeah it's communism ;D
BUT you can opt-out and say "leave me alone" to the telemarketer.


Anyway, pure insurance (without unit link and stuff), ain't like pyramid or ponzi. Agree with TwitchySeal, it's more like bookies.
Certainly not. I am not aware of a country who made gambling compulsory.
It is simular in that there is only one winner the bookie, like insurance company and the gamblers are taken for a ride from time to time one wins.