Is form insurance a commodity on the free open market?
I'm relatively sure that is not but I haven't the slightest how it works in those regard. I am currently a dependent and my insurance is through my father's employer. It's a hot topic at the moment and I'd like to know what's wrong with it?
Answers:
No, insurance is not a commodity. Gold is a commodity and no issue where you buy gold or surrounded by what form it comes, it's still gold. Granted there are different grades of gold ingots, oil, wheat, etc...but insurance is not a commodity. Insurance is a contract and a promise to pay lower than certain circumstances.
Related Questions:
Answers:
No, insurance is not a commodity. Gold is a commodity and no issue where you buy gold or surrounded by what form it comes, it's still gold. Granted there are different grades of gold ingots, oil, wheat, etc...but insurance is not a commodity. Insurance is a contract and a promise to pay lower than certain circumstances.
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