Does Donald Trump Know the Difference Between Health Insurance and Life Insurance?

I say this with no snark whatsoever: can someone tell me WTF Donald Trump is talking about here?

You’re going to have absolute guaranteed coverage. You’re going to have it if you’re a person going in...don’t forget, this was not supposed to be the way insurance works. Insurance is, you’re 20 years old, you just graduated from college, and you start paying $15 a month for the rest of your life and by the time you’re 70, and you really need it, you’re still paying the same amount and that’s really insurance.

But I believe it’s very important to have this. Because one thing Obamacare did, is it gave that and it was a concept that people hadn’t heard of. And now I don't want to end it. I don’t want to end it for somebody that...first of all I don’t want to end it for the people that already have it. And I don’t want to end it for somebody that hasn’t been buying insurance for all of his life where he has a guarantee that for all of his life he’s been buying the insurance and he can buy it inexpensively when he turns 65 or 70 years old. So we put in a tremendous amount and we’re...you know, for the pre-existing conditions. We are going to have a great pool for pre-existing conditions.

What exactly is it that's "really insurance"? What is "very important to have"? What is the "concept that people hadn’t heard of"? What is it that Trump doesn't "want to end"? Why does Trump think people need the ability to "buy it inexpensively" after they turn 65?

The only thing I can think of is that Trump is talking about life insurance, not health insurance. That doesn't fit entirely, but it fits enough that the rest of it could be chalked up to Trump's usual simplemindedness along with his 50s-era understanding of pretty much everything. Any other ideas?