Bankruptcy - anyone gone through it?

[Saul Good]

Originally Posted by mmaddog

It appears neither of you have had a devastating health problem or you wouldn't be so sure that having insurance will take care of everything....even with insurance all it takes is one catastrophic health issue and everthing you have can be reduced to nothing.

And you need to be damn sure you know your policy inside and out....there are many who don't know the fine print and then later get surprised by something they thought was covered, but isn't.

Being confident is good....being naively over-confident can have devastating consequences.

I guess what I am trying to convey....nothing is a sure bet. Life experience has taught me that even the best prepared are sometimes caught flat-footed.

mmaddog
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This is true of an individual policy, but it's just as true of a policy you get through your employer. If you get brain cancer and your insurance policy sucks, it's not like you aren't just as wiped out if you were working. If you're disabled and can't work, you'll lose your job anyway.

I recommend a high-deductible plan that is 100% out of pocket for the first $3,000 or so and 100% above that. The premiums aren't bad because you may never file a claim. Worst case scenario, you're out $3,000. Even if you're broke and can't come up with $3,000 right away in the event of a catastrophe, it's not going to bankrupt you.