Jump to content

When does it become time to put money aside in a separate account and self insure?


Scouse123

Recommended Posts

1 minute ago, London Lowf said:

I sometime look at things from an unusual perpective.....

 

Insurance is gambling - the underwriter/actuary has calculated the chances of you making a claim and offers you a premium that they reckon will make them money - they are a business, after all.

 

By paying the premium you are effectively punting on the fact that they got their figures wrong and that your chances of getting sick are higher than they think - that's the only way you can "win".

 

By self-insuring you are denying the insurance industry their profits - but also taking a chance. However, the odds ARE in your favour.

True but if bad car crash or bad cancer then you need something. A basic policy is better than nothing. 

  • Like 1
  • Thumbs Up 1
Link to comment
Share on other sites

21 minutes ago, K2938 said:

So if you are not part of your self-defined top 2%, you should get insurance.  Simple as this.

almost everyone here (AN) is the top 1 percent. about 5 billion humans live on 5 dollars a day income. 

 

 

  • Like 1
  • Thanks 1
Link to comment
Share on other sites

3 minutes ago, Lacessit said:

I self insure because I have to. 80 yo, pre-existing conditions. An application from me here would probably cause merriment among insurance writers.

Same here, although a little younger.

 

And I suspect, the same for many retired ex-pats/long termers.

 

Edited by London Lowf
  • Like 2
Link to comment
Share on other sites

This is easy! NOW! start by putting a little aside per month and gradually increase as you age a bit.

 

Saving for any emergency is a wise move!

 

61 is NOT too old to have Health Insurance and for you to decide if affordable.

 

Start something now. Bangkok Bank, and others I assume, you can get Accident Insurance for less than B5,000 per year and covers you Worldwide.

Link to comment
Share on other sites

@Scouse123

When does it NOT become time to put money aside in a separate account and self insure ?

 

Never had health ins

Never really needed health ins

Never expected a health ins co. to be then when needed

.... nuff said

 

No better time than NOW

 

 

  • Thanks 1
Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.









  • Topics

  • Latest posts...

    1. 6,330

      Australian Aged Pension

    2. 3

      Thailand Live Friday 20 September 2024

    3. 3,396

      President Kamala Harris

    4. 111

      Pager Explosions in Lebanon Target Hezbollah Members 9 Dead Thousands Injured

    5. 58

      PM Faces Pressure Over Thaksin's Alleged Hospital Fake-Out

    6. 1

      Thailand Introduces New Bill to Regulate Cannabis While Keeping It Legal

    7. 1

      Thailand Introduces New Bill to Regulate Cannabis While Keeping It Legal

    8. 29

      A full medical check up in the Bangkok area?

    9. 0

      Israeli Citizen Arrested Over Alleged Iranian Plot to Assassinate Netanyahu

    10. 0

      Mohamed Al Fayed Accused of Systematic Sexual Abuse: Harrods’ Dark History

    11. 0

      Israel Shifts Focus to Northern Front as Walkie-Talkie Bombs Signal New War Phase

    12. 0

      Teamsters’ Neutral Stance: A Blow to Harris and a Challenge for Trump

×
×
  • Create New...
""