Comment: Perhaps you could fact check some of my findings

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Perhaps you could fact check some of my findings

A couple years ago, I researched costs for a book I wrote. What I came up with for all types of insurance combined (health, home, auto, pet, etc.) for a family was:

A lifetime 'average' income was $40k * 40 = $1.6M
A lifetime 'average' insurance cost (across ALL forms) was $480k
A lifetime 'average' insurance benefit (across all forms) was $28k
The 'average' emergency expense was $80k (paid claims)
One in twenty families experienced and recouped a qualifying emergency

Spreading the $80k cost out to the 19 non-emergency 'beneficiaries' added $4k/family to bring the total lifetime benefits to $32k.

Conclusion that I came to was: We pay 30% of our gross wages to all the various insurances we buy and in return we get 6.7% of our money back, which is only 2% of our gross income. Stated another way, the insurance industry charges us 1400% more than we successfully claim.

This does NOT include any indirect insurances we pay, such as business and financial ones that are quietly passed on to us. It also does NOT consider ObamaCare in any way.

Proposal: People hearing this info frequently suggest that we get 10-20M people to contribute that $32k to a pool and then self administer a program where peer review can focus on the customer. Even increasing it to $50k ea. seems acceptable in the light that preventative care would be a focus. This cost is also before any cost reduction benefits are considered like eliminating the 40% of doctors' time and 60% hospitals' time spent on insurance issues or the massive cut due to focusing more on prevention.

Does this all sound accurate?