Why couldn’t somebody just put money in a savings account monthly instead of paying insurance monthly?
In: Economics
If you can prove to the government you have, I believe, $50,000 to put into an account, you don’t have to have insurance.
It’s just that is either too much for the average person and rich people aren’t dumb enough to put that kind of money into something that makes them zero.
I don’t believe banks allow this. You have to have insurance specifically as a condition of your loan.
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