Insurance is a brilliant, beautiful idea. People come together to pool resources so that in the rare event that a catastrophe befalls someone, that unlucky person does not lose everything.
The idea of insurance went wrong when for-profit companies were allowed to get involved. Public insurance is cheaper and better. I’m not sure if it is still the case today, but until a few years ago public insurance in Saskatchewan cost a couple hundred bucks a year while people in other provinces were paying $1500 for the same coverage.
Can confirm, SGI still exists in Saskatchewan. It is definitely more than a couple hundred bucks a year but it is nice knowing that they don’t make a profit. They sent everyone a rebate a few years ago because they had a surplus
Insurance is a brilliant, beautiful idea. People come together to pool resources so that in the rare event that a catastrophe befalls someone, that unlucky person does not lose everything.
The idea of insurance went wrong when for-profit companies were allowed to get involved. Public insurance is cheaper and better. I’m not sure if it is still the case today, but until a few years ago public insurance in Saskatchewan cost a couple hundred bucks a year while people in other provinces were paying $1500 for the same coverage.
Here is an exhaustive list of things that were improved when it was made for-profit:
Can confirm, SGI still exists in Saskatchewan. It is definitely more than a couple hundred bucks a year but it is nice knowing that they don’t make a profit. They sent everyone a rebate a few years ago because they had a surplus