Great thoughts I often struggle with insurance. For instance what you said about big money insurance policies that pay big money make a lot of sense like homeowners insurance and term life insurance.

But the risk of paying is always a numbers game. If everyone is always sick that is a huge drain on the system. If you live in California and been dealing with wild fires the last 3-5 years and everyone is cashing in it is easy to see how an insurance company can end up insolvent.

But I do hope someday bitcoin can be used to keep the purchasing power of savings into the future. I can see premiums being locked in but getting more benefits with price appreciation. More of a surplus which is better than having insurance companies buy bonds or other triple A rated debt to keep up with inflation.

Also don’t forget Warren Buffet owns geico and they are skimpy as hell but on the flip side the massive amounts of fraud they have to deal with is unbelievable. I think that is one blind spot this article has. Fraud is rampant in the insurance industry which hurts all honest actors.