Is Insurance a scam?

That's a question that I'm really beginning to wonder about. DH had a stroke and suffered a traumatic brain injury at the end of January. We carry catastrophic health insurance coverage through a major carrier. He was in teh hospital until 6/19 and believe me, I am still fighting with them to get bills paid from January. They initially wanted to pay 50% of the bill for brain surgery because Paramedics took him to an out of network hospital. He was later airlifted to the nearest trauma center and had surgery to remove a blood clot from his brain. Again insurance only wanted to pay 50% because the trauma center was out of network (even though their in network trauma center was 75 miles away). I filed a greivance and the State ordered them to pay )on 5/21) and I am still trying to get them to send a check. I can't wait to wrap all of this up so that I can change my health insurance but since we've never had medical problems, I don't know if there is anything better out there. And some people actually question whether or not we need the government to reform health care?

I don't think Insurance Companies are scam. They are there because they share the risk of their policyholder just in case something bad happens to them - car, home, life, etc. I think we are lucky to have Insurance companies who are willing to be part of the risk we are facing. Let just be thankful that we don't apply for any claim because it is more of a hassle than a benefit on our part. This is just my opinion. This is a great post. Hope other myloters will also find time to share their views on this.Happy myloting.

Hi, Mattowander! Some forms of insurance are definitely scams. People pay into them year after year, and when they reach a certain age, the benefits promised just disappear. Life insurance is a requirement at some jobs, but even people who have no beneficiaries have to have it, so it's a useless expenditure for them.

I think it depends on the insurance company which you buy the product. Usually an insurance company with great reputation and many years experiences could give us a better trust to their company. Credibility is a vital thing in financial business. I think we should find out the testimonial of an insurance company. The most important thing is to find their bad history. Learn how they treat their customer and how did they solving their problem on past time. If we can satisfy with their way, then we can buy their insurance product for certain cases. When we want to signing the contract, make sure to read every single word from big word to small word. Usually a scam insurance company threating their customer with the small words. However, self prevention is highly needed. Have a nice day and happy mylotting.