Why do people HATE Insurance. Isn’t Insurance “Voluntary Socialism”?

Question by Philip H: Why do people HATE Insurance. Isn’t Insurance “Voluntary Socialism”?
Consider what insurance is: You put money into a pool of money along with the money placed there by others. When doing so, you also agree to a Contract that is binding on both you and the provider of the insurance.
You hope to never need to draw any of that money out of that pool of money because it is there ONLY for emergencies and signifies you have suffered from some disastrous event you would rather have avoided.
It is something that is an Expense, not an investment.
If you don’t like it, you can quit paying into it and no one can extort money from you if you don’t choose to be covered by those potential benefits. You do loose the coverage as is stated in the contract.
If you suffer from an event covered by the contract, the insurance company is legally obligated to pay in accordance with the contract.
The contract can not be altered without legal notification of any changes at which point you may choose to cancel the contract and purchase coverage from another source.
It is voluntary and not a form of Extortion like we get when the Government uses the IRS to confiscate you assets for something you don’t want, and then changes their agreements every time the Congress has a whim they want to indulge.
Insurance companies work far more efficiently and economically than the Government.
You contribute voluntarily and are not Forced to do so. You provide for yourself and your family according to your ability and your means combined with the level of responsibility you are personally willing to assume.
So why Hate Insurance and Love Socialist Government?
It only fails to function when Government arbitrarily interferes.

Best answer:

Answer by No Chance Without Satan
Insurance consistently tries to worm it’s way out of paying its clients. The show no qualms taking all your money, but try to get out of paying you when you are sick. It’s like giving money to someone, and expect them to give you it back in the future, even though they won’t.

Know better? Leave your own answer in the comments!

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4 comments to Why do people HATE Insurance. Isn’t Insurance “Voluntary Socialism”?

  • Dalai oBama

    Nothing wrong with voluntary socialism. That is called freedom.
    Everything is wrong with forced socialism. That is called economic slavery.

  • Edmon Rueger

    Who hates it. I’m glad we have it. Even the Amish and smaller minority communities poll their funds for emergencies.

    If you ever lose your car or house in a fire, or die young with kids, you’ll be glad for insurance.

  • GerBlat

    yea and paying real property taxes means you don’t really own the home you just rent it from the government.

    It’s a plain as the nose on their faces but they can’t see the forest through the trees. (I got a million of these)..

  • Jacob W

    It can’t be socialism if it is voluntary. What Insurance is, is a financial planning tool. That’s all. It is designed to help people with assets protect those assets against financial disaster. If you have car insurance and injure someone with your car your insurance company helps protect your assets. If you have a house and it burns down, your insurance pays off to replace it. Insurance is not socialism. It is a service that people want and need. They pay for it. Not everything people cooperate in is socialism.

    Socialism has a specific definition. It isn’t voluntary. Socialism is simply a form of rationing of existing wealth until it is exhausted. That’s all it is and that is what always happens.


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