Regarding the underlined above, have U factored in:
1. The value of $ for 35 years? ie $1 35, 34, 33.. etc is >$1 when claimed, due to inflation
+ the return on the $ if invested OR even put in simple FD compounded yearly?

2. The probability of claiming?

3. The logic of insurance companies are in it for the profits? ie. probability or risk * cost + admin cost +sales cost +profit target & share holders' dividend expectations?

Note, i'm not against insurances however the way it is being sold, it's as if it's a gift or being sold by an NGO.
If one can afford to cover the risks oneself, why pay outsourcers PREMIUM to cover it? Premium = (3.) above, ie Cost of risk +other costs +profits. Insurances are useful to offset risks that one cannot afford to take on, right?

1. Medical Insurance "WATCHOUT" - PORTFOLIO WITHDRAWAL
**What Portfolio Withdrawal?**
Insurers are able to withdraw the entire medical portfolio (ie. the particular insurance product) if the plan is no longer sustainable due to the pool of money collected vs the claims paid.

**The Pros?**
Usually, premium is lower than other comparable products

**The Cons?**
The risk here is:
IF the Portfolio is withdrawn
AND the client is seriously sick or has claimed under 36 CI
= client is unable to buy into other insurance plan

**Personal Opinion**
Personally, i'm uncomfortable with MEDICAL risk management that does not cover
"Risk of no insurance due to Portfolio Withdrawal
AND if my love ones/i had previous issues no other insurers will insure aftr Portfolio Withdrawal"
If i have the assets to totally self insure my love ones, no issue BUT until then..

2. New Medical Insurance Coverage in 60 days, 90 days, 120 days, 2 years etc.
**What is with the days?**
All medical insurances will state certain exceptions (ie. non-coverage or lowered) based on the number of days the insurance policy has been running.

**The Pros?**
The higher the deductible, the lower the premium - less risk for insurer

**The Cons?**
Client has to able to afford/know how much they are willing to afford to self-insure / pay out of pocket, before needing coverage or outsourcing the risk cost to insurer

**Personal Opinion**
The most critical to me was the "2 years" non-contestable claims - of course we declare everything up front to insurer during the start of the insurance policy/contract. Thus, to switch to a new insurer, i'd most probably have 2 insurances (old & new) running concurrent / overlapping for at least 1.x to 2 years, just in case (risk management)

3. Medical Insurance Premium VS Deductible / Co-insurance
**What is Deductible / Co-insurance?**
In simple terms, the amount client has to pay out of pocket before insurer will cover

**The Pros?**
The higher the deductible, the lower the premium - less risk for insurer

**The Cons?**
Client has to able to afford/know how much they are willing to afford to self-insure / pay out of pocket, before needing coverage or outsourcing the risk cost to insurer

**Personal Opinion**
As i grow my family's assets, i can afford higher deductibles and.. up to a point where, hopefully, we can easily self-insure fully. Thus, as we grow our assets, i'll take higher deductibles to reduce the running cost of medical insurance.

Medical Insurance - 3 things to share (or maybe these are only new to me  ) as i review my child's & my medical insurance policy VS current options, which may be of interest to U:

1. Medical Insurance "WATCHOUT" - PORTFOLIO WITHDRAWAL
**What Portfolio Withdrawal?**
Insurers are able to withdraw the entire medical portfolio (ie. the particular insurance product) if the plan is no longer sustainable due to the pool of money collected vs the claims paid.

**The Pros?**
Usually, premium is lower than other comparable products

**The Cons?**
The risk here is:
IF the Portfolio is withdrawn
AND the client is seriously sick or has claimed under 36 CI
= client is unable to buy into other insurance plan

**Personal Opinion**
Personally, i'm uncomfortable with MEDICAL risk management that does not cover
"Risk of no insurance due to Portfolio Withdrawal
AND if my love ones/i had previous issues no other insurers will insure aftr Portfolio Withdrawal"
If i have the assets to totally self insure my love ones, no issue BUT until then..

---
2. New Medical Insurance Coverage in 60 days, 90 days, 120 days, 2 years etc.
**What is with the days?**
All medical insurances will state certain exceptions (ie. non-coverage or lowered) based on the number of days the insurance policy has been running.

**The Pros?**
The higher the deductible, the lower the premium - less risk for insurer

**The Cons?**
Client has to able to afford/know how much they are willing to afford to self-insure / pay out of pocket, before needing coverage or outsourcing the risk cost to insurer

**Personal Opinion**
The most critical to me was the "2 years" non-contestable claims - of course we declare everything up front to insurer during the start of the insurance policy/contract. Thus, to switch to a new insurer, i'd most probably have 2 insurances (old & new) running concurrent / overlapping for at least 1.x to 2 years, just in case (risk management)

---
3. Medical Insurance Premium VS Deductible / Co-insurance
**What is Deductible / Co-insurance?**
In simple terms, the amount client has to pay out of pocket before insurer will cover

**The Pros?**
The higher the deductible, the lower the premium - less risk for insurer

**The Cons?**
Client has to able to afford/know how much they are willing to afford to self-insure / pay out of pocket, before needing coverage or outsourcing the risk cost to insurer

**Personal Opinion**
As i grow my family's assets, i can afford higher deductibles and.. up to a point where, hopefully, we can easily self-insure fully. Thus, as we grow our assets, i'll take higher deductibles to reduce the running cost of medical insurance.