Major medical insurance, is it an expense or an investment?
Both the concept of investment and that of spending can vary from person to person. For example, for someone who is not interested in animals, it will seem like an expense to have a pet, and to pay the vet and food and toys etc. While the one who has a pet will argue that it is an investment since the pet gives him happiness, good times and even lowers his blood pressure.
But there are data that are "inclined" more to be one than the other. We are not going to delve into the technical definitions of each word, because I assume that if you are reading me you can also investigate more about the concept.
I am going to talk about what I think is ultimately an investment in this case: "Major Medical Expense Insurance".
Surely we have heard the phrase: "being poor is expensive" and I think you are right. Most of us have a hard time paying for health insurance, especially when we are young and healthy. And we generally argue that we don't have the money to pay for it.
The truth is that as long as you don't get sick, you may feel like that money is "going down the drain." But believe me that the day something happens to you, insurance can really get you out of a very big predicament that can leave you much worse than you were before something happened to you. A long and expensive disease like cancer can cost more than 2 million pesos in a private hospital.
If we don't have insurance to meet that expense, we are REALLY poorer than at the beginning when we didn't want insurance because we were “poor”.
Medical expense insurance IS AN INVESTMENT because it allows you to protect your assets and that of your family.
Analyze it with your car. They hit you, the person in charge flees and at first impression it doesn't look so serious. You take the car to the workshop and they tell you that the composure is going to cost you $ 15,000. Don't you want to have a heart attack? It is money that you do not have and that you have to find out where because you cannot walk without a car. If you have insurance, you only pay the deductible. What a difference!
The same goes for health. You can't "be" without it, and many times the bills are noticeably higher $ 15,000. Any item that PROTECTS your money and that of your family is an investment. Without a doubt.
And finally, there are a wide variety of plans and insurers. So you can surely find a plan that suits your needs and possibilities and gives you that peace of mind and the assurance that it was a good investment.