Social Security Not Part of Investment Portfolio

Re “Privatization’s Empty Hype,” by Michael Kinsley, Commentary, Dec. 26: I bought my first car insurance policy in 1965. I pay it every year and often for two cars. Since then, I’ve had one claim. I have paid life insurance since 1967 and house insurance (sometimes for two homes) since 1979. I have received not one penny on either.

But imagine if I had taken the premiums and put them in the stock market. Imagine how much money I would have today. I’ve never had a fire; does that make me a “loser” in house insurance? I have paid more on my life insurance than my beneficiaries will ever receive; am I a “loser” here as well?

Foolish statements, you’d say. Insurance is not an investment plan; no one expects to make a profit off it. And neither is Social Security. It too is insurance.

Robert A. Fruge

Cathedral City