Can we buy insurance in crypto?

[pornluver]

Insurance in my country sucks.

The price is 7-10 times price in other countries.

The regulation is effectively kartel.

I wonder if people can buy health insurance through crypto?

Anything like that?

[1715045633]

1715045633

[Wolfencloud]

I think as of now, there is no chance for us to buy insurance using crypto especially a lot of countries doesn't support cryptocurrency, but if there is any, I think they will not still allow it given the fact that no one really owns the crypto and it is volatile, so insurance company will stick to fiat money when it comes to insurance. But in my opinion, buying insurance using cryptocurrency is possible in the near future knowing that a lot of people now are interested on having cryptocurrencies as their investment.

[Tash]

Insurance is a scam, why would you want to partake in a scam?

[pornluver]

Insurance is a scam, why would you want to partake in a scam?

I agree.

But if the claim ratio is reasonable, then it may make some people happy.

Why do you think it's a scam again? In Indonesia, claim ratio is too low. Like only 3-15% of money used to pay stuffs. The rest go to agents and shit. In Singapore I don't think so.

[KingScorpio]

Insurance is a scam, why would you want to partake in a scam?

because you are unsure, or because you are exposed to risks

[Tash]

Insurance is a scam, why would you want to partake in a scam?

because you are unsure, or because you are exposed to risks

The first to hear after a accident, "Don't matter it's insured" aka some other fool will pay for it.
Common for Businesses about to go bankrupt to have fires, so lucky it's insured.
People gobble up enormous amount of junk food, because he some other idiot will pay for the expensive medical bills to come.

Fear not self insurace is comming, you can have as many accidents as you like because its paid from your own insurace fund.....

[pornluver]

That's one aspect of insurance problem.

Namely moral hazard.

Yap it's scammy.

[Mr.right85]

The truth is, the economy and standard of living varies in every nation so, its not any surprise that, what is obtainable in your nation would be out rightly ridiculous in others.

When it comes to acceptance, its always a matter of the nation and company. If crypto is welcomed, at least minimally, then companies and organisations might look into its acceptance. This could also depend on who is the boss in such organisation.

In my nation, people care less about insurance not to talk of cryptos. So, goodluck looking out for one but still, it won't make much of a difference with the price. Be it crypto or fiat, the means is just a matter of convenience and so, in the absence of cryptos, you do the exchange to fiat and pay up if it means more to you.