"Many young Americans don't have health insurance," opens the article. "...Some just don't want to invest good money in health care that they may never need." The first paragraph concludes with the statistic thtat 19-29 year olds comprise a third of all un-insured adults below retirement age in America.
Pluck, pluck, twang went the chord!
Referring to us as "young invincibles" for our "exaggerated optimism" about our health, the authors propose insurance companies reintroduce the tontine plan to attract young people. Under a tontine program the insured would receive a cash bonus for ultimately being right about not having needed insurance; and with bonuses framed within a five year span there is not that far off range---20, 30, 50 years---that convinces people to wait until they are old or settled down...like their parents. Now that's coverage on par with saying prayers just in case Hell and its lake of fire does exist!
Under a tontine program the insured would receive a cash bonus for ultimately being right about not having needed insurance
I don't go along with the belief that everyone should buy insurance anymore than everyone should safeguard their monies in a bank. I think the insurance business is a scam, like the engagement ring, which did not always exist, cooked up among money changers. Insurance companies loathe to pay out when *#$*%! hits the fan, leaving you to play the part of the chump arguing and wrangling for your own money. Tontine insurance, however, is something I would buy into as it suits my needs, "exaggerated optimism," and sounds like it would be more easily affordable (and less cumbersome) than regular old people's insurance.If I don't get injured or seriously ill, then I gain bonus money; and if I am brought to confront mortality, then I am covered. It's a win-win situation.
Too bad insurance companies don't provide a tontine program.
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