20 Insurance Facts You Need To Know

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The world of insurance is assumed to be one of the most interesting, intriguing and confusing aspects of human life, however, it is also believed to be the most Life-changing, body and soul-enriching aspects of our lives as we cannot live nor sustain our existence without one form oof insurance or the other (directly or directly). Certain facts have emerged over the years about this interesting topic and we have packaged them for viewing and reading pleasure:

1. 62% of bankruptcies in the USA are due to medical bills. Almost 4/5th of these people had health insurance but went bankrupted anyway because of co-payments, deductibles and uncovered services. Others got so sick that they lost their job and then lost their insurance. – Source

2. The Padres have signed the same handicapped ball player 20 years in row so he doesn’t lose his health insurance. San Diego has signed former left-hander Matt LaChappa to a minor league deal each year since 1996, when LaChappa suffered a heart attack while warming up in the bullpen for a Class-A game. He was only 20 at the time. – Source

3. A French man, Max Herve-George, has an insurance policy that lets him trade stocks based on last week’s prices. It has been called the stupidest contract ever signed, and may end up with him owning the insurance company. – Source

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4. The Apollo Astronauts, unable to qualify for life insurance and not insured by NASA, resorted to ‘insurance autographs’, signing just before launch in the expectation that the value would skyrocket in the event of their deaths. – Source

5. Starbucks pays more for employee health insurance than it pays for coffee. – Source

6. In 2012, a Texas Hospital billed a woman $4800 after she was in an accident. Once the hospital found out she received an insurance settlement, they sent her a new bill for $20,000+ and filed a lien against her property to get it. – Source

7. Iran eliminated its kidney transplant waiting list by incentivizing unrelated donors with financial compensation and health insurance. – Source

8. In Japan, avid golfers buy insurance to protect themselves on the course. They purchase it because if they get a hole-in-one, they have to buy gifts and drinks for their friends. The policy covers them for a party worth up to $3,000, for the low price of $65 a year. – Source

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