Is paying a private health insurance company like paying the mafia for "protection"?

When the mafia comes around and asks a person to pay for "protection" what happens is that you are handing over cash and getting nothing in return because you are actually paying for protection from the mafia guy... Is it about the same way with the Private Insurance Industry? You hand over around... show more When the mafia comes around and asks a person to pay for "protection" what happens is that you are handing over cash and getting nothing in return because you are actually paying for protection from the mafia guy...

Is it about the same way with the Private Insurance Industry?

You hand over around $1500.00 cash every month yet your never quite sure if you will get a return on your money since the main goal of the private insurance companies is to make profit, and sick people are very costly. So there is a very high chance that even after paying in tens of thousands of dollars in premiums the insurance company will find some way to deny a claim or if it looks like your illness with cost them more than you have paid in, they will just cancel the policy.

So...just like with the mafia, is it one of those things where your damned if you do and damned if you don't?

If there is no guarantee that the insurance company will cover your costs if you get something like Cancer...isn't it just like throwing money away...money you would be better off just putting in your savings account and ensuring you have something to pay for the chemo?
Update: Vadim : "also why do you trust a government insurance would not do the same." Because the Government plan would be NON-PROFIT and I think it is our Governments/Countries best interest to have a healthy population that can continue working and PAYING TAXES for as long as possible. Sick or dead people... show more Vadim : "also why do you trust a government insurance would not do the same."

Because the Government plan would be NON-PROFIT and I think it is our Governments/Countries best interest to have a healthy population that can continue working and PAYING TAXES for as long as possible. Sick or dead people don't pay a lot in taxes you know...
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