In america, why do we have insurance system ? for example for Healthcare and Automobile.?

Question

For some reason, I dont see any logic in USA's insurance system. For example customer A has automobile insurance, first of all insurance company bargain the h**l out of the customer and doesnt cover this doesnt cover that..what not..on top of it - if the customer meets with an accident, if he claims insurance, his insurance jacks up bloody h**l man..if not..he ends up paying insurance every month and pay of his accident..then why do we need insurance ??? Bloody h**l..

If anyone thinks of any advantages of Automobile or healthcare industry's insurance, Please throw some limelight !!

Answer 1

I know someone who had a heart attack without health insurance and had to sell their home to pay the hospital bill.  Do you have another question perhaps?

Jeff

Answer 2

Dude.  The system you outline, isn't the system that's in place.

And limelight isn't what you want thrown, if you're using the common definition of the word.

Answer 3

Payal,

Do you white water raft without a life jacket?

Insurance is the "just in case" business of financially protecting the clients.  If the Bad one never happens then your right insurance is a waste of my energy (I'm a health and life agent) and your money.  Please refer to the psychics to see if a Big Bad One is in your future.

PS 20 some years ago (before COBRA)  I went uninsured due to a job change. Three days before my old job and their insurance ended and 33 days before the new insurance would kick in I had Major surgery for a condition that had actually been brewing for years. Had my condition waited for a week or two before becoming acute I would have had to foot the entire hospital bill!  Still be paying for that today!

Answer 4

When a policy holder has a claim on their policy that is the fault of another driver, their insurance rates do not rise.