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wedrifid comments on Eutopia is Scary - Less Wrong

33 Post author: Eliezer_Yudkowsky 12 January 2009 05:28AM

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Comment author: wedrifid 21 September 2013 03:44:41AM *  4 points [-]

A very small fortune, since I had already mentioned it would be paid for with life insurance.

It seems that insurance increases the expected amount of money that will be paid rather than decreasing it. The benefit of insurance is not a reduction in (expected) cost but a redistribution of money from possible futures where you are fortunate to possible futures where you are unfortunate. This is a service that you pay a premium for.

Comment author: MugaSofer 22 September 2013 03:26:04PM *  -2 points [-]

Sure. But actually, I was referring to the fact that it doesn't involve a large lump sum payment, or "fortune".

Well, it assuaged their doubts about cost, anyhow. Cost was not the issue here.