Join devRant
Do all the things like
++ or -- rants, post your own rants, comment on others' rants and build your customized dev avatar
Sign Up
Pipeless API
From the creators of devRant, Pipeless lets you power real-time personalized recommendations and activity feeds using a simple API
Learn More
-
I think it makes more sense to put extra money away than have insurance but I am a responsible human being who can count numbers
the fact insurance has to make money off you should kinda tell you that it isn't worth the cost
insurance companies don't mess around with their profits either... *citing things one shall not talk about*
ala healthcare it's all a scam but I'm already collecting enough controversy points here. I got sick the last year and I think we should defund all healthcare now cuz of it. before I thought the system worked but I was just unlucky, now I know it's super duper fucked up
I think most people can't do things the way I do them though, so they'll just lemmings into bad systems. I overoptimize, and I don't mind the investment of my time to find things that are real and true, because I plan to condense all this info and teach my kids (and then hopefully they won't be witches burned at the stake) -
My philosophy is that all insurance is a scam. They do everything in their power to not have to pay you and they'll use every possible clause and small print to not help you when you need it. That's just not a good look to make business, so I wont. I'd rather look at alternatives, long term investments, savings accounts and so on. At least that way, if nothing happens to you, you'll have some really good retirement funds instead of literally nothing to show for it. It's slower, but more reliable than insurance
-
Some researchers in Chile run an experiment to discover an amount that would cover unexpected expenses, including healthcare, for any members of a sufficiently large population.
They found 1500 USD of savings would cover most misfortunes, while 2500 would cover even the outliers.
That is how much I have stored, per covered person, as my personal insurance.
Now, third party insurers are in the business of making money off you.
They might be service providers or they might be quasi-scams.
Service providers should be hired when you are not sure you can perform the service yourself - medical insurance, for example. If you are not sure you can pay for your ailments, nor trust the public healthcare, then maybe it is a good idea.
Now, house insurance is useless for an apartment, and if you can afford a whole new car then auto insurance (but not accident insurance) is just a scam.
Got it? If you can afford to replace it, you do not need insurance. And you can't replace your health. -
My experience with insurance companies has been mixed.
Car insurance, while mandatory, is robbery. They keep increasing the price year after year despite me not getting any tickets now my car breaking down.
On the other hand, my parents' home insurance proved useful when our kitchen burned up, and they covered all costs no questions asked, but I live on a rented place, so no point.
Health insurance I don't really care much about since both Spain and Portugal have free healthcare.
My last company used to have death insurance, to be paid to your spouse/spawn, but since I have neither...
hey folks, what are your thoughts on different kinds of insurances?
I recently went through a major accident that would have impacted our finances significantly , if i didn't had a corporate insurance. And this led to me researching a lot into different kinds of insurances : health, motor, home, travel, life, term life,... there are so many of these.
And they have a significant cost! they do cover benefits (claims) of even bigger amount but some1 with my salary and 12 different insurance will be shelving out approx 4 months of salary as premium every year. at the same time, our dear ol govt is taking 30% (4 months worth) as taxes.
and then we have a simpler generation that was my parents, who lived their 50+ years without any of these insurances and taxes. their income sources were very less to be taxed (or make considerable savings) , they will rush to govt hospitals for free treatment and prey to never get a major disease, and not leave the world without making their dependents independent.
so this is a weird philosophical question. should i live knowing am secured from stranger companies which may help at times ,while i try to manage my live with 40% of my salary?
or should i live like my parents(& billion others), trusting the govt and system to help me in times of need while i feed them my 30% salary an try to stay alive with the remaining 70%?
random