[Josem]

[ QUOTE ]
Insurance is a -ev proposition that is designed to reduce catastrophic variance.

[/ QUOTE ]

this is repeated often on 2p2, and i don't think this is accurate.

while it may be -$ev, i think it is not -lifeEV (in the same sense there is a divergence between $ev and cev in tournaments)

1) the marginal value of each extra dollar you have is reduced.
2) the risk of ruin (by not having insurance) is greater than 0. obv, life is not a rebuy tournament.