No, insurance is EXACTLY like gambling. At the racetrack, they're called "oddsmakers," but when they're on the insurance companies' payrolls, they're called "actuaries." They try to quantify risk, and come up with a rate that is enticing to the player/insured, while still favoring the house/insurance company.
But NOT having insurance is the biggest gamble of all.
And I had an insurance policy that actually would start CUTTING the amount of "protection"/proceeds payable to to the beneficiary, if the insured party lived beyond a certain age...so that, after age 90, the insurance was worthless. My grandparents bought this policy when I was an infant, and apparently never read the fine print. When Grandma made me the owner of this "paid-up" policy, I read the fine print...and when I discovered this ripoff, I cashed it out at my first opportunity. So don't tell me about insurance protecting you "if you live too long"...because I know better.
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Today's Featured Article - Grain Threshing in the Early 40's - by Pat Browning. The setting is rural Wisconsin, halfway between East Troy and Elkhorn, on Hodunk Road, our nation was at war, and I was 6, 7 and 8 years old. George was our "threshing neighbor." He was the one with the threshing machine, a JI Case on steel wheels, and he pulled it to our farm with a JI Case standard tractor also on steel. In those days, steel wheeled implements were common. The roads were general gravel, so the lugs cutting into them wasn't a problem. George would set up the thresher, s
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