[Shoe]

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Under 35 I would say there is no need for insurance.

Older than 35 it is necessary.

Reason being most people under 35 do not have the assets to justify having insurance. Also most people under 35 will not have any major illnesses except an injury from an auto accident. Accident related injuries are usually covered by your auto insurance.

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My friend just got his appendix out... cost over 20k... good thing he had insurance. Unexpected things happen, even to young people.

I agree that all insurance is -EV (not only are you paying for your expenses, but for everyone else who commits fraud, and all the adminsitrative costs plus the companies profit), but unless you are a multi-millionare, the risk of needing insurance is just too big. If your young and healthy, get insurance with a high deductible, mine was around $80 a month.

EDIT: Just read through the some other posts in this thread, and it could be +EV just from the better prices the insurance companies are able to negotiate. They would try to charge you a lot more otherwise.