My girlfriend and I were planning to fly to Frankfurt on a budget airline. We were offered travel insurance, which I didnâ€™t think was worth the Â£4.95. Still, my girlfriend insisted on both of us taking the insurance. Assuming the chance of surviving a plane crash is negligible, you do not get to enjoy the benefits of the insurance should a disaster happen. Most likely your family will get paid for your death. So the worst-case scenario is that youâ€™re Â£4.95 poorer and dead; or at best, alive, but still Â£4.95 poorer. What is the rationality of taking out the insurance?
Great answer, especially the final line of the answer.
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