Financial
How insurance actually works
A short read
Why insurance exists
Some bad events are rare but very costly. A house fire. A car crash. A huge hospital bill. Most people will never face one. But a few will, and it can wipe them out. Insurance spreads that risk across many people.
Sources
- HealthCare.gov
- U.S. Consumer Financial Protection Bureau (CFPB)
- Government of Canada (Canada.ca)
- American Academy of Actuaries
- The Commonwealth Fund
- Washington State Office of the Insurance Commissioner
- National Association of Insurance Commissioners (NAIC)
- University of Wisconsin–Madison School of Business
- Insurance Information Institute