Just to be clear, we don't offer insurance nor do we provide advice on insurance.

What we would like to help you with is improving your awareness of insurance.

Insurance can provide indemnity protection against a mutualisable risk event over time and space. Some event risks are not able to be mutualised and therefore do not take the form of true insurance. 'Mortgage protection' is one such event risk. Population longevity is another event risk that can't be mutualised. Similarly, you can't insure against gambling losses.

Insurance should be viewed as both indemnity protection against your ability to earn future income and indemnity protection against the destruction of accumulated wealth from mutualisable risk events over time and space.

A proper functioning insurance market is important to society as it allows indemnity protection against a mutualisable risk event to be purchased at a fair cost.

The chart below shows a stylised example of savings under free exchange, including insurance payments as part of fixed expenses.