Anti-Capitalist Sentiment (with some morality)

[Savy]

Do you think the principles behind buying in bulk & getting a discount apply to insurance in the same way?

[OngBonga]

Do you think the principles behind buying in bulk & getting a discount apply to insurance in the same way?

Not in the same way because one is a product whereas the other is a service. However, insurance is kinda like the bookies, where the more people they insure, the less probability they have of making a losing bet. Insurers are essentially betting you don't break your leg or whatever. So yeah, bulk is still good for their business, and therefore lower cost for the consumer.

[Savy]

Not in the same way because one is a product whereas the other is a service. However, insurance is kinda like the bookies, where the more people they insure, the less probability they have of making a losing bet. Insurers are essentially betting you don't break your leg or whatever. So yeah, bulk is still good for their business, and therefore lower cost for the consumer.

So they aren't (I agree).

[wufwugy]

Do you think the principles behind buying in bulk & getting a discount apply to insurance in the same way?

Buying in bulk benefits due to efficiency gains in higher production and distribution. It's something like a factory can make 100 widgets at $10 a piece or 1000 widgets at $9 a piece. This type of thing happens for a variety of reasons that include specialization of labor and cost of machinery.

"Discount" to insurance comes when in a large, varied pool because the insurance company takes on less risk. Imagine one company that insures everybody who works at Microsoft versus another company who insures the same quantity of people but they all have diabetes. One of those scenarios is vastly more expensive for the insurance company and thus for the consumer.

[Jack Sawyer]

Buying in bulk benefits due to efficiency gains in higher production and distribution. It's something like a factory can make 100 widgets at $10 a piece or 1000 widgets at $9 a piece. This type of thing happens for a variety of reasons that include specialization of labor and cost of machinery.

"Discount" to insurance comes when in a large, varied pool because the insurance company takes on less risk. Imagine one company that insures everybody who works at Microsoft versus another company who insures the same quantity of people but they all have diabetes. One of those scenarios is vastly more expensive for the insurance company and thus for the consumer.

Yes, but it doesn't work that way. Ideally you should be on insurance *before* you get diabetes, so that when you happen to get (the chance thing ong was talking about) you can deal with it in a more humane way.

Paul Ryan was like: "it's not fair for the healthy to pay for the sick". Needless to say, this saying is not only heartless, but also stupid

[wufwugy]

Yes, but it doesn't work that way. Ideally you should be on insurance *before* you get diabetes, so that when you happen to get (the chance thing ong was talking about) you can deal with it in a more humane way.

Paul Ryan was like: "it's not fair for the healthy to pay for the sick". Needless to say, this saying is not only heartless, but also stupid

Paul Ryan is a stupid tool.