I am hunting for a car these days, i learned my car insurance could cost about 60-70% of my monthly car payments. so in 10 years, i would have paid about $13,000 in just insurance payments. very fascinating this insurance business.
I recall in the olden days back in Sri Lanka the village farmers had something similar to insurance concept. the idea is simple and above all, its best for all. this is how it worked:
Lets say there are 20 farmers in this little village, every month each farmer would put a monthly contribution to the collective cash pot, and the pot is given to one farmer each month. in this way, each farmer gets the pot once. this is very similar to insurance payments, from the perspective of monthly payments, where each farmer must make his payments for every month for 20 months. So every farmer gets the cash pot once. every farmer gets to have one big month. and there is no concept of profit here, no concept of money-managers, no concept of administrative fee, its all collected by the farmers, and shared by the farmers.
Whereas now, every driver is paying monthly payments, say there are 10 million drivers in canada, and each driver is paying nearly 100$ a month, that is a whopping 1000 million dollars collected as monthly car insurance payments by the large insurance companies. that is 1 billion dollars btw. now, don’t tell me all that 1 billion$ is going back to the community of drivers. no not at all. small part of it goes to pay for car accidents and payouts as they call them. but large part of it is pocketed by the collectors in this case the large insurance companies.
so for 1 month, a whopping 1 billion dollars and for 1 year, 10 billion $$$$$. well, you do the math, all in the name of covering each driver for safety from accidents and injuries. A really good way to suck billions of dollars using fear,
that is what insurance is all about, making money out of fear.
whereas in the olden village collection was for the collective good of all farmers. its good for each farmer, its good for all farmers. very simple pooling of money for the good of all.
now within the equality systems of things, we are not returning to the village style of insurance,we go beyond and above that formula. we simply cover and protect every human being. that is precisely what equal money system is all about. supporting covering, protecting every human being with full support. no need for profit based insurance giants to protect us. they are not protecting us, they are making money in the name of protecting us.
so for now, i will have to get a car and pay the fucking insurance premium, there is no other choice. we have to live in the system now. though i am very fed up with this fucking system of profit making in every juncture of one’s life here. this is the madness we have created for ourselves.
So its urgent, we bring a new world of equality for all to live in dignity. for this, i am unconditionally a voice and a vote for world equality.
please join us. thanks.