Insurance is not necessarily an investment from which one expects to get one's money back. Nor is it gambling. A gambler takes risks, while insurance offers protection against risks that already exist. Insurance is a way to share risk with others.
Since ancient times, communities have pooled some of their resources to help individuals who suffer loss. About 3,500 years ago, Moses instructed the nation of Israel to contribute a portion of their produce periodically for "the alien resident and the fatherless boy and the widow
Since ancient times, communities have pooled some of their resources to help individuals who suffer loss. About 3,500 years ago, Moses instructed the nation of Israel to contribute a portion of their produce periodically for "the alien resident and the fatherless boy and the widow
Earlier, John had thought about buying fire insurance with some of the funds that he put into building his shop. However, he reasoned: 'I'm very careful. And if I never have a fire, insurance will be a waste of money.' But there was a fire. If John's shop had been insured, very likely he could have rebuilt it. Without insurance, he could not
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