M
Martin Brown
Guest
On 17/09/2012 03:53, dagmargoodboat@yahoo.com wrote:
Americans only ever want to buy insurance for some rare but catastrophic
outcome after they know that they will be making a claim. Not
surprisingly insurers will not allow someone to insure against something
where a major claim is already in progress.
A few US expats are expelled from Belgium each year after being made
personally bankrupt by failure to have "illegal worker insurance" or
"domestic third party claims insurance" for instance. There is a "bank
account insurance" too but that only results in serious hardship for the
surviving spouse rather than loss of all personal assets.
The notes for expats in English make clear what insurances you should
have and how much it costs (comparatively little). The consequences of
not having it can be disastrous if someone claims against you.
It astonished me that financially sophisticated high wage professionals
would skimp on this insurance to save pennies and then whine incessantly
about how it wasn't fair when they were bankrupted.
Health insurance is all about paying to have a system to look after
people who are sick according to their medical needs as opposed to their
ability to pay. Most people would prefer to stay healthy and never need
to "get their money's worth" out of the system.
--
Regards,
Martin Brown
Actually this does seem to be a common American position.The reality is that it's far cheaper to skip insurance until you need
it. IOW, Obamacare defeats the whole principle of insurance: paying
for protection against something you hope won't happen, so that you're
covered if it does.
Americans only ever want to buy insurance for some rare but catastrophic
outcome after they know that they will be making a claim. Not
surprisingly insurers will not allow someone to insure against something
where a major claim is already in progress.
A few US expats are expelled from Belgium each year after being made
personally bankrupt by failure to have "illegal worker insurance" or
"domestic third party claims insurance" for instance. There is a "bank
account insurance" too but that only results in serious hardship for the
surviving spouse rather than loss of all personal assets.
The notes for expats in English make clear what insurances you should
have and how much it costs (comparatively little). The consequences of
not having it can be disastrous if someone claims against you.
It astonished me that financially sophisticated high wage professionals
would skimp on this insurance to save pennies and then whine incessantly
about how it wasn't fair when they were bankrupted.
Health insurance is all about paying to have a system to look after
people who are sick according to their medical needs as opposed to their
ability to pay. Most people would prefer to stay healthy and never need
to "get their money's worth" out of the system.
--
Regards,
Martin Brown