http://www.getrichslowly.org/blog
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What Is Insurance and How Does It Fit Into My Plan?
Insurance is the cheapest and most immediate way for a person to displace risks that are too great to assume individually. I can afford the doctor for an annual check-up, but what if I need an MRI and surgery? By paying a smaller amount up front, I am moving the responsibility from my shoulders to a large organization.
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This drives me wild. It is so basic, yet we seem to have zero understanding.
(1) Ever watch the TV commercials made famous by Ed McM. Insure your baby. Insure your funeral expenses. Insure what? What in the Intelligent Designer’s name are you protecting against?
(2) Social Security Insurance? That Ponzi scheme should have never been allowed to assume the word “insurance”.
(3) “Health” Insurance that pays for routine maintenance stuff.
Insurance on the open market for true catastrophes, like death, are cheap and easy to buy. Life Insurance was pioneered by the fraternal organizations to mitigate the death of a wage earner.
So what are you calling “insurance” that isn’t? And, what are you paying for that you shouldn’t even be “insuring”? And, what are your biggest risks? Are they “insurable”? And which ones should you be mitigating and which should you properly be “insuring” (i.e., the big hairy ones)?
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Reinke Faces Life 