Insurance contracts are written/worded in a way that allow denial of most claims without much effort. But hard to understand so it is unnoticed by the customer and only the claims adjuster that has read the contract a thousand times would notice.

The difference is…

a publicly traded insurance company is required by the shareholders that fund it to make larger profits, every year, year after year, forever.

They attempt to achieve this impossible goal of infinite growth by denying more and more claims, while charging more.

A government program like universal healthcare does not need to deny claims. Universal healthcare serves the voters that voted for it. Not shareholders that push companies to destroy themselves for infinite growth.

And universal health care isn’t insurance so I’m not sure what you’re trying to say.

When I was a kid my dads house caught on fire. The fire was caused by old wiring so the insurance claim was denied.

They weren’t worried about verifying the condition of the wiring when they were collecting my dad’s insurance payments. And they didn’t return the money he paid into it after denying the claim. So we ended up homeless even after my father had spent all that money on insurance to prevent it.

If he had all those insurance payments in a bank account we could’ve at least afforded a hotel or apartment while we figured out what to do.

I realize that there are situations where insurance can be beneficial.

I’m just sharing what I’ve learned from working as a claims adjuster. The company I worked for created incentives for denying claims. Customers were often lied to about what is covered by the person selling the insurance. We often shared technicalities that were found in the contract that allowed us to deny more claims.

This did not only happen at the company I worked for. It is common practice in the insurance industry.

I’ve worked as a claims adjuster. It was my job to find ways to deny claims so that my employer could make more profit. My employer was very clear about that.

Even if the insurance company is profitable, they will always want more.

Publicly traded insurance companies have an obligation to their shareholders to make larger profits year over year. The shareholders never say “we’ve made enough profit on investing, we dont need more profit”.

Why?

I’m aware some insurance is required by law.

Considering publicly traded insurance companies need to make larger profit margins than their previous year. Every year. And the government doesn’t. It’s safe to say the insurance company will deny more claims and you will get less and less than what you pay into it over time.

Either way everyone is better off saving that money so they can actually use it if they need it.

For an insurance company to exist it has to spend less covering claims than it collects in payments.

Otherwise they end up bankrupt.

If you got back every dollar you spent on insurance, there would be nothing left over to spend on staff or any other part of their business.

This means anyone with insurance is better off taking their payments and saving it for when they need something covered.

Insurance is a scam.

The finger painting is a nice touch. Brown paint would’ve been funnier though.