How is gold an insurance policy? Also, name one true insurance product that can decline in value after the premium has been paid in full.
Whether it is or not, gold is perceived as insurance.
Your insurance policy declines in value whether you know it or not.
Your insurance settlement, whether on a car or a totally destroyed home, is subject to negotiation. It has no firm written in stone value regardless of what you might think.
Been there, done that. Insurance companies with a few exceptions are masters of hardball and deceit.
I came out just fine, but most people do not.
Gold is insurance against economic collapse and the failure of fiat currency. Every fiat currency in history has failed. Every. Single. One.