It’s the principle here. If I get sick or injured I would rather pay the hospital and/or doctors the amount I’ve been paying the insurance companies. Since I haven’t been sick or injured, I have been able to save a substantial amount that I was paying to insurance in an emergency savings account.
When I was born in 1964 the total hospital bill was $85 which was about a week and a half’s pay for my dad at that point.
That’s very innovative of you. I didn’t know that emergency savings accounts existed. Do most banks offer them?