It certainly does not make you healthier. Neither does it prevent bad things from happening.
Prof Scott Galloway famously canceled his health insurance and saved hundreds of thousands of dollars.
Prof Scott canceled his health insurance and saved hundreds of thousands of dollars.
Most people are not Scott. And insurance is a good idea.
But how much insurance is enough?
It’s probably a huge waste of money to pay full coverage for everything bad that might happen. It might not. And mostly, because we’re paying for doctors and patients who are good at gaming the system, taking more tests and medication than necessary, jacks up the cost for everyone.
Insurance is really about a safety net and peace of mind. But biases and conflicted interests make it hard for most insurance agents to see clearly.
If you’re seeking advice, a financial advisor is better.
A hospitalisation deductible plan that covers big sudden expenses and affords the treatment you need is a good start. It might be worth paying extra for the option to skip the queue of your public healthcare system.
But don’t mistake insurance and treatment with habits.
A fit body, a calm mind, a house full of love. These things cannot be bought — they must be earned.
Now, how much insurance is enough for you?
