Gambling continued....

IS THERE A DIFFERENCE BETWEEN GAMBLING AND INSURANCE?

The answer is yes because gambling premiums are paid in the hope of gain, whereas insurance premiums are paid to guard from possible loss. Gambling hopes to obtain what one does not have, but insuring protects what one already has (or ensures the replacement of what is lost). Furthermore, gamblers have been known to put their families at risk when their habit becomes compulsive. Insuring does the opposite, it secures benefits when needed. The motives between the two are totally different.

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