Bitcoin Forum

Does your country have insurance and whether is it useful to overcome your economic problems,

I see in some countries only people who have enough economics who have insurance
and those who are poor do not have insurance.
is this fair.

Paying for an invisible item that most of the time you have to jump through hoops to claim is not going to solve any problems and will most likely cause more.  If everyone paid out of pocket and the governments stepped out of the way prices would decrease dramatically.

I think insurance has not been able to overcome my economic problems, insurance only addresses the problem of anxiety, if something happens there is insurance that guarantees it. but the real economic problems have not been overcome.

Having insurance might even save your life, enabling you to get medical treatment that you may not have been able to get, if you did not have insurance to help pay.

Besides the protection from financial ruin that insurance provides, insurance can provide peace of mind, knowing that you or your loved ones ARE protected in the event something bad should happen.

But this is not for big economics of countries. however wisely chosen utilization of natural resources may act as insurance for many countries

Insurance has many choices or a variety of insurance policies are savings for the future. Thinking for a long range is a very wise thought.

I believe that insurance can at least alleviate the financial shortcomings but this however depends on the country. If you are from the 1t world country, then insurance is really helpful to the citizens but if you are a citizen coming from the 3rd world countries, I believe the insurance could be worst. Therefore, insurance from the rich nations can only feel that their government is really doing their work through the implementation of their insurance system to the community.

I fail to see how insurance is able to solve the basic economic problems around the world.

For example, there is a large population of unbanked population and I'd say that that is one of the most crucial economic issues that needs to be addressed. Having private insurance for them would be a luxury, yes. But even if they had insurance, but no access to basic banking services to allow them to save money, take out loans for their business, or connect with international businesses, is insurance alone going to change all of that?

Also, you have to understand that insurance is offered by companies that make a profit. It's not some massive charity that they're having here. I'm sure that insurance is nice to have, but that's probably the least of anyone's concerns if they their country's economy is collapsing, and they need to protect their wealth from a collapsing fiat.

On a side note, bitcoin addresses a lot of the problems that I've mentioned above. Especially providing economic services to the unbanked, and helping them to connect with international employers.

Insurance tends to solve personal financial problems in the future. The unbanked population couldn't afford insurance because its expensive to think of their future than what to eat right now. Well, its true that bitcoin helps this people in such a way that it gives additional jobs to help to sustain daily expenses but I believe that only few of them will realize the true importance of insurance even though they have the money.

English dude ;  English !


I think you have gotten the concept of insurance completely wrong here. Insurance wont help economic growth by nay means because it is just way of saving your money into an organisation which is going to put another half of the money for you so that you can have full privileges on services that they offer. For example, health insurance would be covering of all your money that is needed for some surgeries where you will have to put 0% or 50% of your own money and rets is assured by the Insurance company. Same for cars, homes, life, properties etc etc.

This is not way of improving the economic situation, it is way of improving your life!

Its just another product or service within your country.

Does it help poor ? No it wont because they are not aware of it or cant afford to put X % in it.

Getting an insurance is one strategy to be financially stable. Yes,  it is costly to have an insurance where an ordinary citizen in my country cannot afford to get one. It will make a great help to ones finances in case of emergency but this depends on the current financial status of an individual.  But I am hoping that this will be realized by people who are capable of having insurance.

In third world countries only professionals and the rich can have an insurance and in these countries it is a premium privileged as it will cost you a lost of money and considering the way of living in such countries even small time businessmen cannot afford it. So insurance as a way to solve their economic problems is out of the question.

This has nothing to do if your country is poor or rich. The country that i live right now is not rich, however provides to anyone insurance packages.

Also, there are many rich countries that i know they do not provide insurance to their citizens for free. These may be USA and Germany for example.

In my opinion the best and most efficient is that every person would be able to purchase by himself his insurance package and not the governments takes his money in order to provide him benefits.

What kind of insurance? Do you think your house insurance is going to help to solve your economic problems? Yeah, my Payment protection insurance will help to solve a financial problem in case I die, at least I won't need to pay for the graveyard and related stuff. The sad part is since I will be dead I will never see any cent from this insurance. Life is hard

There are several types of insurance in my country, but what is being referred in this topic seems
like a life insurance. There's like a combination of health and financial insurance that might prove
to be very helpful at a right fruitful time and age. I think health insurance is the only definite thing
that helps these days, health care is costly in cash. Probably a good future investment.

Sad it may seem, but yes. Insurances continuously need funds for them to provide promised services. And where they get it? From their new client.

It's good to have insurances as it could help during emergencies but several insurance companies are are scam and by the time you needed their service, they suddenly close up.

insurance does not deal with economic problems, only security if there is illness, fire, earthquake and others

thanks to the health insurance on my country i don't need to pay any operation bills. so yeah, it's really help me a lot.
and yeah, it's really unfair because on my country many people didn't get their health insurance, even when they get insurance, the hospital treat them poorly.

The economic problems stem from wealth inequality.  We have two classes of people : workers and owners.  Unless workers are able to seize the means of production this wealth divide will only continue to grow.

Financial services and having access to a bank won't solve these problems, unregulated Capitalism is a true beast and it works be extracting wealth from workers.

indeed your words are true. At present, those who have insurance are only for people who are capable, while the poor do not have them. this should be followed up, because the country is a role model for the people. Being poor or rich needs to have insurance for their lives.

Insurance as a business enterprise does not come to solve any economic problem but to make profit which is their primary motive. Its in the process of making that profit that they realise there is need to solve a problem then they make it sound that is the reason why they are in business. It purely a business strategy to cover the real purpose and play on peoples emotion. The reason for my conclusion is when what you insure didn't suffer any loss, you don't get your premium back and you cannot wish to have bad occurrence happen because you seriously want to be indemnified.

People who are poor most times don't want to have insurance not because they are poor but because they feel they are being cheated and they know that the chance of bad occurrence happening to them is lower compared to rich people who can afford high gadgets, high class vehicles that can be susceptible to theft, or huge property that could bring attract thieves to them.

yes my country has insurance. insurance can solve economic problems because if something bad happens to you or your family, insurance can deal with the losses that you experience.

Insurance is indeed for the rich people and not for people who have a poor economy. And the purpose of insurance isn't make someone to get rich or become poor. Insurance is a place to save money or a place as your guarantee in old age. For example for your health care, with insurance you can treat your disease for free. Every month you will save money or spend money to the insurance you choose and there are several classes depending on your ability.

And I guess it's very rare for people who have poor economy to choose an insurance. For them to cover the cost of their daily lives will be arduous and they will not be able to pay every month.There is something wrong with your understanding of insurance, it will be good you read what insurence is and what the insurance function is.

Insurance is an instrument and, of course, it cannot solve economic problems. Actually insurance is a market where a trading asset is risk. We can realize it like there are two counterparties where the first of them wants to reduce his risk and he is ready to pay for his wish. The second of them wants to earn and he is ready to take alien risk for a fixed payment. Actually there is a derivative instrument which is named an option. Mostly options are traded on CBOE and they are used by professional traders and producers. As you can see insurance is widely used but it is useful just for a small part of economic subjects and I am sure that insurance cannot solve economic problems.

Insurance coverage will only help you. It depends on each group of insurance, they can not be the same. And using insurance also requires knowledge to avoid things that are not really clear about them. The economy is the same.

For some group of people probably yes,not for all people. I my own country only for them who are good financially and economically have a insurance. It may apply in any country. It is just helping the owner to make easy their activities and certain transactions but not to overcome the economic problem.   

I can understand the water insurance you have done very well. However, I think that is just the case, those who have been insured. Only then will the help be received, but the fact will not happen. It is also hoped that some countries will apply it all to those who are in a difficult situation.