Bubble Insurance

I am wondering if anyone has tried to use bubble insurance, there are a cople of web pages that offer it (dont know if its ok to mention them here). Basically what i saw is that you pay 12% of the buy-in + rake and if you finish out of the money but in the next 10% of the total players signed you get your buy-in + rake back.
For example:
20+2 tourney
Insurance cost: 2.64
Total players signed: 1,200
Places paid: 144
10% of signed players = 120
Now the insurance will cover you inf you if you finish between 145 and 265
Please let me know what you think.
P.S.: i kow that in the eventual sittuation that all players take the insurance the insurer will be making 20%, but is this insurance good or not for individual players

Not.