by LexusSchmexus » Tue Nov 21, 2017 11:51 am
That's why they get taken in by the while "life insurance" spiel. I know several young Khmers who are paying a relatively big chunk of change into life insurance. I think my girlfriend pays 30-50$/month into it. When I point out that they should get health insurance, not life insurance, they stare at me blankly. I have to explain that what drains a family's resources isn't a funeral, but the cost of medical care in the case of an accident, palliative care and so on. Once you die that's it. That's the cheap part.
On the plus side, they do get the money back, so it's sort of a savings scheme. Not as high as if you'd just saved it yourself, of course, but not too bad nonetheless. However, for 90% of them, once they get the money they'll likely blow it all. It's a clever way of introducing it to the kingdom, as I've never heard of such a policy back home.
That's why they get taken in by the while "life insurance" spiel. I know several young Khmers who are paying a relatively big chunk of change into life insurance. I think my girlfriend pays 30-50$/month into it. When I point out that they should get health insurance, not life insurance, they stare at me blankly. I have to explain that what drains a family's resources isn't a funeral, but the cost of medical care in the case of an accident, palliative care and so on. Once you die that's it. That's the cheap part.
On the plus side, they do get the money back, so it's sort of a savings scheme. Not as high as if you'd just saved it yourself, of course, but not too bad nonetheless. However, for 90% of them, once they get the money they'll likely blow it all. It's a clever way of introducing it to the kingdom, as I've never heard of such a policy back home.