But more importantly to the reasons people actually buy insurance, they redistribute comparatively small amounts from the (most people) lucky to pay large amounts to the (few) unlucky. Which, behind the veil of ignorance, you would want, to ensure (insure) that your life is not ruined by bad luck.
But more importantly to the reasons people actually buy insurance, they redistribute comparatively small amounts from the (most people) lucky to pay large amounts to the (few) unlucky. Which, behind the veil of ignorance, you would want, to ensure (insure) that your life is not ruined by bad luck.