Do we really need insurance for everything?

Do we really need insurance?

Life insurance, why can't we just be cremated?
Who need a $100,000 worth of funeral?

Health insurance, why can't we just pay out of our pocket, health
insurance won't pay for our medical anyway.

House insurance, why can't the government help us out?

Car insurance, my mom paid $1,000 annually for 15 years...
and the old car got totaled and we only get $4,000.
That isn't fair.

I feel insurance companies rip us off.

Deafilmedia said:

Do we really need insurance?

Life insurance, why can't we just be cremated?
Who need a $100,000 worth of funeral?

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Life insurance doesn't cover just the funeral. It provides support for the dependents that are left behind.

Health insurance, why can't we just pay out of our pocket, health
insurance won't pay for our medical anyway.

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For routine medical expenses, paying out of pocket is OK. But for catastrophic injuries and illnesses insurance is necessary.

House insurance, why can't the government help us out?

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Why should the taxpayers do that?

Homeowners and renters need to insurance their homes and belongings. If they don't, then they can lose everything in a disaster.

Also, homeowners need to carry liability insurance in case someone is hurt on their premises.

Car insurance, my mom paid $1,000 annually for 15 years...
and the old car got totaled and we only get $4,000.
That isn't fair.

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Of course it's fair if that was the book value of the car. If her car was 15 years old, then I would say that $4,000 was probably more than fair.

Car insurance doesn't just protect the car. It protects the people who are involved in accidents, too.

I feel insurance companies rip us off.

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Maybe you need to do a little more research so you can make more educated choices so you won't get ripped off.

Life insurance, don't forget the rest of expenses paid after one's death, the next of kin will always be responsible for debts and leftover taxes left by deceased.

Health insurance, if you got cancer and don't have insurance, good luck trying to get help with treatment, limited insurance or no insurance means no comfort for pain and suffering except life threating treatment necessary.

House Insurance covers more than gov't would assist.
This reminds me of one my friend who had her rental home on fire, and she was found at fault, the insurance company that paid for the damage on building though landlord sued her for 54 thousands of dollars damage, ain't that funny? And if she died, next of kin would have to deal with this 54 thousand dollars lawsuit.

Car insurance covers more than just car itself, suppose idiot run in front of you and you were driving 30 mph, and send this sucker into hospital, you are liable for sucker's medical expenses. This can worth more than what you would have paid for car insurance itself.

If you think you can save $ by gambling em, we wish you lots of luck.

Deafilmedia said:

Do we really need insurance?

Life insurance, why can't we just be cremated?
Who need a $100,000 worth of funeral?

Health insurance, why can't we just pay out of our pocket, health
insurance won't pay for our medical anyway.

House insurance, why can't the government help us out?

Car insurance, my mom paid $1,000 annually for 15 years...
and the old car got totaled and we only get $4,000.
That isn't fair.

I feel insurance companies rip us off.

Click to expand...

diehardbiker said:

Life insurance, don't forget the rest of expenses paid after one's death, the next of kin will always be responsible for debts and leftover taxes left by deceased.

Health insurance, if you got cancer and don't have insurance, good luck trying to get help with treatment, limited insurance or no insurance means no comfort for pain and suffering except life threating treatment necessary.

House Insurance covers more than gov't would assist.
This reminds me of one my friend who had her rental home on fire, and she was found at fault, the insurance company that paid for the damage on building though landlord sued her for 54 thousands of dollars damage, ain't that funny? And if she died, next of kin would have to deal with this 54 thousand dollars lawsuit.

Car insurance covers more than just car itself, suppose idiot run in front of you and you were driving 30 mph, and send this sucker into hospital, you are liable for sucker's medical expenses. This can worth more than what you would have paid for car insurance itself.

If you think you can save $ by gambling em, we wish you lots of luck.

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Correct, except about the next of kin being responsible for the debts of the deceased. That's not always the case. For example, if the deceased leaves behind unpaid credit cards accounts, the heirs are not responsible for them unless they were co-signers or joint account holders. Same rule for medical bills. Heirs are only responsible if they signed for the medical expenses. When my parents died their bills were just written off as losses to their creditors. Their debts didn't effect their insurance or Social Security payments to their heirs.

If your friend had died her next of kin wouldn't be responsible for her lawsuit unless they were some how responsible for the fire. If there was a judgment against her before she died, then maybe there would be a claim against her estate but only her estate. The property of her next of kin couldn't be touched. If she died before the case was decided, her next of kin wouldn't be involved; they weren't party to the suit.

But I agree that insurance is a very necessary evil. My Hubby has to carry a minimum $1 million insurance for his one-man business, and I have malpractice insurance as an interpreter. It's a crazy world.

Deafilmedia said:

Do we really need insurance?

Life insurance, why can't we just be cremated?
Who need a $100,000 worth of funeral?

Life insurance is for those who have dependants like children or relatives who are unable to care for themselves.

Health insurance, why can't we just pay out of our pocket, health
insurance won't pay for our medical anyway.
Chronic illness can get expensive. I have diabetes and my meds that I take for it costs about $70.00 dollars. Without insurance, it'd cost me around 150 dollars to pay for my meds.
House insurance, why can't the government help us out?
You need insurance in case you lose everything in a fire or a flood. I learned that the hard way when I lost a lot of stuff to a fire started by lightining when it struck the roof of my aparment.

Car insurance, my mom paid $1,000 annually for 15 years...
and the old car got totaled and we only get $4,000.

How much insurance will pay for your car is based on the current value of the car you own.
That isn't fair.

I feel insurance companies rip us off.

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Please see the answers that I've given you. They're marked as red so you know which ones are my answers.