>A society can't function if more than 10% of the population is in distress and that's exactly the purpose of insurance, the many helping the few, not the other way around.
Who says you're going to get a random sampling of the population? Those more prone to needing insurance money are going to be more likely to sign up and thus drive that 10% much much higher.
Who says you're going to get a random sampling of the population? Those more prone to needing insurance money are going to be more likely to sign up and thus drive that 10% much much higher.