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Anyone would pay a slightly smaller premium in exchange for the awarded sum being limited to actual incurred/billed costs
by pekk 13y ago
Anyone would pay a slightly smaller premium in exchange for the awarded sum being limited to actual incurred/billed costs
- sheepmullet 13y agoPretty good insurance company to be able to offer a smaller premium when they have to cover the exact same costs on average when they have 10x the overheads of a company that pays lump sums. Not to mention you are by necessity limited by the hospital and doctors on the insurance companies approved docs list. No thanks; they don't have my interests at heart. Not to mention the very real incentive for such an insurance company to stop paying for "problem" clients with long ongoing illnesses.
- michaelt 13y agoIf 25% of lung cancer cases cost less than $150,000 to treat, 50% cost less than $200,000 to treat, 75% cost less than $250,000 to treat, 99% cost less than $500,000 to treat and 99.999% cost less than $2,000,000 to treat, how much would the insurance company pay out for lung cancer?