First Buddhism, now insurance: Charlie Martin is turning out to have a real genius for demystifying the arcane, putting it into plain English and commonsense concepts that nonetheless do not get it wrong or dumb it down: on the contrary.
For example: "The FIrst Great Truth: Things Suck." (That was such a good translation that I began to wonder whether, according to the rules of phonetic drift, "suck" and "dukkha" might not be derived from the same Indo-European root.)
[T]he basic idea is simple: you are making a bet with a bookie that some unfortunate thing will happen to you in some fixed length of time.
Usually, the one hard thing about explaining insurance is that you’re doing exactly what Pete Rose said he never did: you’re betting against your own team. If the unfortunate thing happens, at least you win your bet, and you get some money — or at least your heirs do. If it’s car insurance, you are betting you will have a car accident during the term of the insurance, and the insurance company is betting you won’t; if it’s life insurance, you’re betting the insurance company you will die during the term of the insurance, and they’re betting you won’t. [...]
So remember, if you ever feel like no one cares if you live or die, buy some life insurance. Then at least the insurance company cares; in fact, they’re willing to bet money you’ll live.
Now I get it!
Charlie doesn't need this link, he's in the middle of an Inst-undation, but you need to not miss this.
UPDATE: A timely addition from a commercial alternative-health e-newsletter I get, HSI e-Alert:
I once read that the most lucrative business in the U.S. isn't oil, isn't pharmaceuticals, and isn't computer products – it's insurance. [...]
I came across another insurance-related item I wanted to share – this one a warning for pet owners. The following quote comes from Bruce Watson who blogs on a web site called WalletPop.
"After reading through readers' comments on my blog, I searched the internet and was blown away by the outpouring of anger over dishonest pet insurance companies. According to many writers, some insurance companies…regularly cite pre-existing conditions and hereditary health problems as excuses for refusing payment. The basic complaint is that insurance companies manipulate sentimental pet owners then unceremoniously dump them when they actually need help."