Do the extremely rich buy condition insurance?
Answers:
I guess they buy their own hospitals and take-home pay out salaries on the droves of the best physicians working nearby.
They , however, will still need to buy travel insurance. Using foreign services might cost money.
One thing sure more or less rich people is that they didnt bring back there by individual wasteful near money.
Yes because they can smoothly afford to pay for the premiums, but when something big happen, or they need continued treatments, they're covered by their form insurance. Even rich people want to stockpile money and cover their behinds. A monthly premium is nothing to them, so there's no drive for them not to pay it. Why not discharge a little to avoid big-time costs?
I own a Health Insurance Brokerage within California since 1991 I have insured various people scheduled on the "Forbes Richest", additionally my company was first base out of Beverly Hills. Most of these folks have HSA (health reserves accounts), because it is based on math not emotion. I would recommend any american look into a HSA type of account, you see it take away the big profit to insurance co's and puts the money back into your pocket. What I will make clear to you is that some of my richest clients purchase the least expensive plans, and complain the loudest when premiums budge up even a little bit, whereas the middle class folks just ever complain about rate increases. I guess explicitly why they have so much money, they see every single penny.
Yes, because they're smart, and know how to manage money.
Everyone needs form insurance, even if you have money.
You'd think that the rich one rich is sufficiently self-insured to cover all types of expenses but unplanned emergency can and will devastate. The richer they are, the more insurance they will buy. Rich people can afford to hire a troop of Financial Planner, Accountant and whathaveyous all to facilitate them manage their finances, accordingly they will buy whatever is important.
Usually they buy something called 'stop loss' insurance which way they agree to pay up to a indisputable level of their own condition care costs.
But if the payouts get a certain horizontal, the stop loss policy kicks within to pay the rest.