this post was submitted on 08 Mar 2024
583 points (94.2% liked)
Funny
6874 readers
875 users here now
General rules:
- Be kind.
- All posts must make an attempt to be funny.
- Obey the general sh.itjust.works instance rules.
- No politics or political figures. There are plenty of other politics communities to choose from.
- Don't post anything grotesque or potentially illegal. Examples include pornography, gore, animal cruelty, inappropriate jokes involving kids, etc.
Exceptions may be made at the discretion of the mods.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
That is the whole insurance business. It is nothing but a bet if you look at it by a single policy. E.g. your insurance bets you'll probably die at 70, so when you hit 71 you paid more than you get when you die. Your insurance wins. But when you die at 55 you "win" the bet. But because there isn't just one but thousands of policies those bets aren't bets anymore, they're nothing but statistics. And one part is keeping track and calculating how old people born in year xy, in country ... with the gender zxy are going to be.