uforwealth
Verified member
Some people consider gambling and insurance the same while others see both the former and the latter as two different things. Those who claim that insurance and gambling are the same argue that both of them involve loss and wining.
When two people engage in gambling which is a game of luck, one will definitely lose while the other will surely win. Likewise, in insurance, if a person who purchases health insurance policy doesn't fall sick within the time stipulated in the policy, the insured will lose while the insurance companies will win(gain).
On the other hand those who believe that insurance and gambling are different,support their claim with evidence that gambling is a risk increaser while insurance has a tendency to decrease risks.
In your opinion, are insurance and gambling the same?
When two people engage in gambling which is a game of luck, one will definitely lose while the other will surely win. Likewise, in insurance, if a person who purchases health insurance policy doesn't fall sick within the time stipulated in the policy, the insured will lose while the insurance companies will win(gain).
On the other hand those who believe that insurance and gambling are different,support their claim with evidence that gambling is a risk increaser while insurance has a tendency to decrease risks.
In your opinion, are insurance and gambling the same?