>>A young person with a high income and a young family can use life insurance as a way of cushioning the shock of an unexpected early death.
Yes. And as that person ages, their premium boosts to cover the increasing incidence of morbidity/mortality in their age group. Meanwhile the sensible insurer has been investing some of the annual surplus to cover a predictable eventual payout.
In healthcare, there is no purpose investing for inevitable future payout since so many customers reach 65 years of age at which point their growing risk is transferred to the taxpayer, covered by a $47T unfunded deficit that will fall due on somebody else one day. Healthcare insurance is a much better lark than life insurance because so many punters exit the scheme without needing a big payout.
"... They ne'er cared for us
yet: suffer us to famish, and their store-houses
crammed with grain; make edicts for usury, to
support usurers; repeal daily any wholesome act
established against the rich, and provide more
piercing statutes daily, to chain up and restrain
the poor. If the wars eat us not up, they will; and
there's all the love they bear us."
-- Shakespeare: Coriolanus, Act 1, scene 1
