3 ms·
> But self-insuring for, say, $10000, allows you to deal with all risks less than $10000, not just those listed on a policy. Have you checked what e.g. a long-
by vertex-four 10y ago
> But self-insuring for, say, $10000, allows you to deal with all risks less than $10000, not just those listed on a policy.
Have you checked what e.g. a long-term medical disorder will cost you year on year? For cancer, $10,000 is a drop in the bucket, and will not even cover your medical bills if you have additional money to go live in India while curing it.
Costings for cancer for the NHS in the UK are £40,000 per cancer patient per year - floating significantly up and down depending on the type of cancer, etc etc - suggesting that it's not solely down to the US's private healthcare system.
You can find similar examples of nearly unbounded. unexpected costs for nearly every type of insurance. Personally, I put a lot of stock in not dying when I don't have to, and not having to spend the rest of my life in a squat because of something I could've insured against.
- jeffdavis 10y agoNone of what you said contradicts what I said. Unemployment insurance generally has a limit (even if the risk you are trying to insure against is not). Is that limit within the reasonable bounds of self insurance? Probably so for many people, but maybe not for others. Insurance is good for the really huge stuff, like giant medical bills or a house fire. For little stuff, there are so many risks that if something happens, it's probably not listed on whatever policies that you do have.