Why the rich get richer and the poor get poorer - I

Why the rich get richer and the poor get poorer?

many reasons...

and one of them..that has been given too much negative coverage is this...

Insurance.

If you are unsure about savings or investment accounts, nevermine. Just get some blardy insurance for things like : personal hospitalisation, disease, car, etc.

Life of a poor man:

Save save save save....wow $30,000

Shit..gena some farny disease...$30,000 gone.

Save save save save...nice nice..now $30,000 again

Shit...some idiot banged into car...$ 30,000 gone.

save save save save...phew...$30,000!!!

Shit...roof leaking...$30,000 gone.


You get the point.

Think about it. One of the reasons the rich get richer is because even though they already have the money, they have insurance to ensure that they do not need to touch their own money when an emergency arises.

Does it cost a bomb to get insurance? No. $50/mth could probably cover you for almost $100,000 for major illnesses. I can understand why some people get the feeling that they should kill themselves even after the hardships of recovery from a serious illness. It usually happens when they see the bill.

And you know what? You can't bring down the costs coz 1. the machinary is expensive and 2. the personal is expensive. Yea you want cheap fees. For that you need cheap labour. Would you be willing to work for cheap fees after going through half your life and spending tons to get your MD?

There you go.

Go talk to an insurance agent and try to get the following covered:

Self - Hospitalisation (non major illnes)
Self - Major Illness
Self - Disability
Self - assets (car, house)
Others - death (unless u could care less for the people who took care of you)

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Personal experience:

I got a disease called Meningites out of the blue (go wiki it). It was a non-specific, probable bacteria infection (which is basically as good as saying 'unknown'). After 2 weeks of hospitalisation, the total hospital bill was almost $20,000. Thank god it happened while I was in the Army...they sponsored it. Out of all that, I only paid $90 out of my medisafe account.

Well, given my families' current financial status, I wonder what would happen if I wasn't in the army and I had no coverage for that at all. Wtf are they going to find that money? And for a hospitalised illness, $20,000 was already a pretty small sum. What if something worst happened to me?

I'm not going to find out...

Do yourselves a favor...if not for financial reasons..then for health..ok?

Part II
Part III