Originally Posted by
indyfabz
LMAO! My open heart surgery hospital stay and attendant costs like surgeon fees was WAY more than the premiums paid and my out of pocket cost, the latter of which was was $10 for the phone in the room.
Got more out of my insurance when I broke my collar bone back in 2012, when I was actually paying premiums.
And as noted above, I currently don't pay a dime for health insurance and haven't for several years.
As for HO insurance, I have paid less than $10,000 in premiums over the 12 years I have owned my home. If it burns down tonight you think I will be at a loss?
Moreover, just think of how much more you would be out of pocket without insurance. Talk about trouble with maths.
Anecdotal evidence does not trump statistics. I'm sorry you were in poor health, and I'm glad your insurance helped you. But statistically speaking, people pay way more in premiums than they receive from claims.
And as for the argument "If it burns down tonight you think I will be at a loss?" You just made my point.
If your house burns down. But it hasn't. And chances are it won't.
Again, statistically speaking, one would be far better off financially by taking their insurance premium costs and putting them into a savings account and drawing from it only when needed. That is a fact. Whether or not you enjoy the peace of mind that insurance brings or you have anecdotal experience with having to claim your insurance is irrelevant.