Mandating things, such as insurance, forces unnatural behavioural changes in people and organisations. Insurance should be an option for those that can afford to overpay for the security of protections. These overpayments and the payments out-of-pocket to cover costs that insurance would have otherwise covered help fund the services that can be handed out more cheaply to those without the financial means to pay for them outright. Every time there is more regulation/manipulation, the wealthy find ways around it vis-a-vis lawyers, etc. So, the socialistic intent of mandating insurance for all winds up creating a greater artificial wealth gap, and eventually lowers the quality of the service and providers in order to cut costs across the board.
Insurance itself is unnecessary. The security provided is necessary, but there are other possible means to this end. The government could cover people based on need and only what is needed, and then for all other things people should just pay and with their own money. Insurance causes INFLATION. Passing the risk to a company with more money means that the prices of the goods and services auto, healthcare, home, what ever it is will go up for all. That means people who previously would've afforded it fine without insurance then need to buy insurance, making the insurance companies richer, and creating a vicious cycle of inflation which leads to a great deal of the economy being spent to give insurance people profits instead of on actual production of goods and services. Prices would drop if insurance didn't exist and the government could intervene to protect people who don't have the means when they don't have the means. And if you have the means then pay directly for it.
Auto insurance is a wager/gamble. By purchasing Auto insurance you are wagering that you will be in an accident and the insurance company is wagering that you will not be involved in an accident. Purchasing life insurance is a wager that you will die sooner than expected. The life insurance company is wagering that you will live longer than expected.
Insurance artificially inflates prices. Just look at products and services that are almost exclusively paid for using insurance. Health care, auto body repair, prescription medication, and roofing. A good example of a medical procedure that is elective and not usually covered by insurance is lasik. Lasic vision correction cost has basically remained the same or even gone down in cost despite continuing to get better. People price shop for services that are payed for out of pocket and service providers compete for your business through price and/or quality.
Accountability. A person owning an automobile that drives in a reckless manner and wrecks should be held financially responsible instead of just providing/rewarding them with a new vehicle. I believe a type of Bond or a collateral account would be a better alternative to liability insurance as protection for a not at fault victim in an accident.
It is a satanic racket, and a cruel mockery. People should wake up and disassociate with money grubbing covetousness and burdening the poor and elderly with endless developments. Compulsive obamacare just exacerbated the whole problem. But so be it, just like war crimes, it will pay back in the hereafter.
Before Obamacare was put into law. Many doctors ran their offices like a restaurant, The cost went down because the customer, had the right to choice the price and with many offices start doing the same thing. If health care is run like a business, the possibilities are endless. A heart transplant is 1.2 million dollars. If hospitals are run like a business a heart transplant could cost less than 1000 dollars or a used car. Along with that, we could use this as a way for innovation to find cures for cancer and AIDS. If there was grocery store insurance a box of frosted flakes would cost a lot more than 4.50.
Auto or Medical, they provide customers with less than they (customers) pay for, less than they deserve or are entitled to (for both parties in the case of auto insurance, the victim and at-fault driver). They make a profit off of your loss that often was not your fault to begin with. It's like a store owner forcing you to pay for bread you don't want and then refusing to give you the bread anyway.
I agree with most everything said above. The Capitalists will never stop until they have enslaved us all and destroyed our planet. When will we wake up and fight! We have all the power we need in how we spend our money! ThEY are doing everything in their power, which is great, to make sure we don't have even that small amount of power. The power to chose! But we must chose NOT to participate and contribute to their schemes. Buying their products or services pays the way for them to screw us even more. If I run our of choices Im leaving this country.
Paying an insurance agent their staff and overhead, the insurance company their staff overhead and shareholders for less than just paying the Dr./Hospital. The insurance companies negotiate with Dr./Hospitals to get prices out of our reach so that we have to pay for insurance. I was an independent Insurance Broker, every time a client payed 25% was mine alone. EVERY TIME for the rest of their life. Then the insurance company pays the lower "negotiated" price. Which you could easily afford if you were not paying inflated prices. Example: My wife got injured in the military and received and MRI from a private medical facility. The bill was about $3000 Tricare paid *drum roll please* ............ About $300. With policy limits taken into account you have, I would guess, better chance at winning the lottery than spending more than you pay in premiums over your life time.
Costs of service are so inflated that you have to have insurance. Just put a cap on what dr.S and hospitals can charge. When the Army sent my wife for an MRI (combat related) the bill was around $3000 TriCare paid around $300. If we all got charged just $300 then we would not need insurance. Think about it. How can it be cheaper to pay an agent his staff and overhead, the insurance company all the the staff it has and overhead and the shareholders of that company cheaper than just paying the dr./hospital? (Which may have shareholders.) It is a scam! People don't see the forest because of all the trees. For major medical the average independent agent get 25% of every payment you make EVERY time you pay it.
No, I do not think that insurance should be illegal. Insurance companies run a legitimate business, and allowing Americans to buy insurance is part of the freedoms spelled out in the Constitution. Insurance also helps those Americans who may need relief when something bad happens by providing them resources like money and advice.
I'm a little unclear on the question. Insurance companies offer a service, like any other financial service. It serves a purpose and people voluntarily use it to better manage their lives. It's not even a socially deviant service to offer, so I don't see why anyone would think this is an issue. Perhaps the title is just misleading, I haven't read the argument on the other side yet.
In any case, it's just a service and until shown otherwise it should be legal to the same extent any given financial service is legal.
No, I do not think that insurance should be illegal. Insurance is a very important service to so many people. I know that a lot of people, including myself, feel safer in life knowing we are insured if anything bad should happen. If insurance were illegal, I would feel a lot less secure.