Using hindsight to judge whether buying insurance was a good idea or not:
A)is the only way to properly measure the true cost of the insurance and its benefit.
B)is not a good idea; you have to measure the decision considering the information available at the time.
C)can prove that what was a good decision at the time can end up not being worth the cost.
D)can help someone who is deciding whether or not to buy insurance in the future.

Question

Quizplus · Accepted Answer

Judging the value of buying insurance using hindsight is flawed because it does not consider the uncertainty and risks present at the time the decision was made. Insurance is a tool for managing risk, and its value should be assessed based on the information available when the decision to purchase it is made, not on outcomes that were unknowable at that time.

Using Hindsight to Judge Whether Buying Insurance Was a Good