hence we should be willing to spend more. On the other hand, there's a high likelihood we'll pay way more in healthcare premiums than we end up using. If this weren't the case, health insurance companies wouldn't be in business. ...
(You’ll see in a minute how much you need to save in order to self-insure.) So in this case, yes, you need insurance. And if you are interested in protecting them against an unforeseen reduction in family income due to your untimely demise, you need term insurance. (Read “Term ...
Nobody would insure something as cheap as a pack of gum, of course. If the pack of gum is lost, damaged or stolen, you will bear the cost directly because you are self-insured. Insurance companies don’t talk much about self-insurance, and why would they? They want you to buy ...
Homeowners insurance is likely to cost more in areas with higher crime rates, expensive rebuilding costs, or stricter building codes. Also, a home in an area with a volunteer fire department located miles away may cost more to insure than one with a nearby fire station staffed by professionals...
Learn about the different health insurance options available to expats in Germany in 2022. Get informed on the pros and cons of each option and find out which one is best suited for your individual needs.
Retirement health care costs? Correct! The cost of health care is the No. 1 financial concern in retirement, according to a March survey by eHealth.com, an online private health insurance marketplace, and Retirable, a financial advisory firm. Two of three survey respondents (63%) cite health...
Tips for Reducing Mental Hospitalization Costs with Insurance Conclusion Introduction Dealing with mental health issues can be challenging, and sometimes it becomes necessary to seek treatment in a mental hospital. However, the cost of mental hospitalization can be a major concern for individuals and th...
These procedures might incur a large amount of money that we don’t have on hand. Luckily, health insurance exists. It’s always a good thing to stay proactive and invest in important things like health insurance. However, health insurance doesn’t cover the entirety of medical costs. In a...
If you’re going to self-insure, it is important to have an accurate understanding of the worst-case scenario so you’re prepared financially. As an alternative, if the risk is too high, you might consider maintaining insurance but with a very high deductible. Self-Insurance Example: U.S....
If you’re getting life insurance purely to cover debts and have no dependents, there are other alternatives. One is toself-insure, which occurs when someone sets aside a pool of money to be used to remedy an unexpected loss, rather than spend it on insurance. Self-insuring against certain...