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Originally Posted by nickey1952
Amelia G. Here is the reasdon I have medical insurance, liability insurance , house insurance , condo insurance, is I make a lot of money and they are all right off.
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I agree that the tax-deductible nature of insurance is just corporate welfare for that industry.
The deductions still don't help you if you never need the insurance. At the very least, the math problem becomes more complex, if the margin you need is the amount of your tax bracket percentage.
Probability theory was invented by gamblers and insurance companies. Insurance in America is a for-profit industry. The house always wins. The probability is that you will spend more than you get.
Experts in this, who make a lot of money, generally self-insure -- for example, companies like PriceWaterhouseCoopers.