Some people think that they are very young at present. They pay attention to their diet and exercises, and are very careful with their safety when they go out. For this reason, they think there should be no risk for the time being, hence, it is not too late to buy insurance when they get older. A friend of mine had the same idea, but one day, I suddenly received a phone call from him, saying that he had a stomachache few days ago. Then, he went to the hospital for an examination and found that it was myocardial infarction. He installed two heart stents and spent more than 70,000 dollar, regretting that he could not get the insurance company to pay for it. I told him that he should regret more because he can no longer buy insurance in his life since insurance is only sold to healthy people.
Insurance is not about buying as much as you want
The essence of insurance is to ensure the ability of the insured to create value in the future. For example, a 40 years old man with an annual income of 50,000 dollar, can he buy an amount 10 million dollar insurance? The answer is NO. The insurance company will refuse to accept this offer because of the moral risk.
