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Line 1: − − The very concept of insurance is [[collectivism|collectivist]] in nature, since everyone pays into a pot, which is redistributed to those in a time of need. It is, therefore, [[liberal]] in nature, as it instills a "brother's keeper" mentality, which is everything [[individualism|individualistic]], ''true'' [[conservative]]s (and therefore, ''true'' Christians) are about, and should, thus, be rejected. This collectivist mentality will, undoubtedly, lead to [[Socialism]], which '''''always''''' leads to godless [[Communism]] (even though Socialist [[Hitler]] was anti-Communist). If a person experiences a crisis, that's their own darn fault - stay out of my wallet, leeches!
Reverted edits by Berning (talk) to last revision by TheAmericanRedoubt
'''Insurance''' is a financial arrangement whereby a party (the ''insured'') which faces a monetary [[risk]] if a particular event occurs passes that risk to an ''insurer'' in return for the payment of a premium.
'''Insurance''' is a financial arrangement whereby a party (the ''insured'') which faces a monetary [[risk]] if a particular event occurs passes that risk to an ''insurer'' in return for the payment of a premium.
A common example is motor insurance. A motorist faces several risks, including the theft of their vehicle and damage caused to their vehicle. The motorist will choose to insure themselves against some or all of these risks and approach an insurer. The insurer will quote a premium to insure the nominated risks for a period of usually twelve months. Once insured, the motorist can make a claim against the insurer if any of the nominated risk events occurs. An insurance ''policy'' will set out the exact circumstances in which a claim will be paid, and the way in which the amount of the claim will be determined. In the event of theft, the payment would usually be the market value of the vehicle. In the case of damage to the vehicle the payment will usually cover the necessary repairs, up to the market value of the vehicle.
A common example is motor insurance. A motorist faces several risks, including the theft of their vehicle and damage caused to their vehicle. The motorist will choose to insure themselves against some or all of these risks and approach an insurer. The insurer will quote a premium to insure the nominated risks for a period of usually twelve months. Once insured, the motorist can make a claim against the insurer if any of the nominated risk events occurs. An insurance ''policy'' will set out the exact circumstances in which a claim will be paid, and the way in which the amount of the claim will be determined. In the event of theft, the payment would usually be the market value of the vehicle. In the case of damage to the vehicle the payment will usually cover the necessary repairs, up to the market value of the vehicle.