That nest egg is much better insurance overall though, as it protects in many more scenarios... job loss, bad boss, loss of residence rights...
The basic rule of insurance is "never insure that which you would be able to pay out yourself".
There may be a few exceptions where you know that the risk/premium ratio is in your favour... I twice got my banks purchase protection "insurance" to replace bikes that a bike insurance wouldn't have even insured in that city. And that was with a free bank account.
There may be a few exceptions where you know that the risk/premium ratio is in your favour... I twice got my banks purchase protection "insurance" to replace bikes that a bike insurance wouldn't have even insured in that city. And that was with a free bank account.