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Reply #19: The "richest" generally don't buy insurance at all. [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010)

Xithras

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Tue Jul-28-09 12:39 PM
Response to Reply #8

19. The "richest" generally don't buy insurance at all.

Edited on Tue Jul-28-09 12:42 PM by Xithras

The truly wealthy don't buy health insurance of any sort, because insurance is often looked upon as a bad investment. You ONLY purchase insurance if you DO NOT have the resources to correct an issue if it occurs. To the richest, with millions available via cash or credit line, doctors and hospitals are cheap.

Health insurance is used by the poor to the upper middle class, but that's it. Insurance, in general, is a hedge against disaster. People only insure against events that would be financially disastrous.

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