Compulsory Insurance | Ramblings of an e-trader

Saturday, 28 May 2011

Compulsory Insurance

I just read an article about people in China easily go bankrupt after a bout of illness because they have used up all their savings on medical fees. This can get out of hand for some patients and a woman even performed a surgery on herself because she couldn't afford to go to the hospital! Isn't that horrendous?

According to the report, people in China do not earn enough to buy medical and term life insurance and this woman's case is not an uncommon incident. In fact, there are many like her and she will not be the last to suffer so.

Although this woman was sent to hospital and her medical fees will be written off the welfare of the poor in China and other countries around the world are at stake no thanks to escalating medical fees. Insurance has become compulsory to many of us.


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