As long as a person is completely confused about what insurance is, and what it is not, there is no possible way to explain their mistaken position.
Insurance is in no way a pre-payment plan of anything. Nor is it a promise to pay any bill. It does that, but that is NOT what it is.
Insurance IS a transfer of RISK, not costs, RISK. In exchange for a premium from an individual, the insurer accepts that individual's RISK. That is the contract. At the policy anniversary date, if there have been no claims, that is completely irrelevant. The insurer did not promise to pay claims or return the premium. The insurer agreed to assume the individual's RISK in exchange for the premium. And they DID that, so they keep the premium as per contract.
If one is of the position that there was no accident so the premium should be returned, then are they also willing to pay the difference when a $50,000. or $100,000 accident does occur?
If you pay $100.00 a month, $1200.00 a year and expect the premium returned at the end of the year, THEN you are agreeing that if an accident does happen in any year, say 6 months into the year, then the insurer is only liable for the first $600 in damages.
DON'T BLAME ME, I DIDN'T VOTE FOR THE FOOL! X 2
LIBERALISM,,the new front name for,,,COMMUNISM
TWO people spending ONE person's money, DOES NOT improve the economy!
"Money is better than poverty, even if its just for financial reasons."--Woody Allen