Do you mean a life-time $50k? Otherwise an annual deductible of $50k sounds ludicrous. Maybe if they tied it to yearly income, it would make more sense.
Do you mean a life-time $50k? Otherwise an annual deductible of $50k sounds ludicrous. Maybe if they tied it to yearly income, it would make more sense.
@modeless is essentially arguing for self-insurance, which is perfectly sensible. You don't need insurance for things you can plan for, or have savings for (make sure you're analyzing your total financial tail risk).
Dental "insurance" is basically a savings plan with a negative return, considering the low lifetime maximums, and the fact that biannual cleanings aren't that expensive out of pocket. I have a $20k deductible (with lower premiums), and I'm coming out ahead. There's societal side benefit that paying with your own money makes you a more discriminating consumer.
The $50K is not outrageous, assuming you have the savings to cover it. You need insurance for the big things, which is basically anything more than a two-day stay in a hospital. The costs blow up from there.