Insurance companies get rich because we don't understand risk--we take the bad end of most bets.
As an example, what do you think your risks are of getting Alzheimer's disease? 10%? 20%? According to Assistive Technology and Aging, the risk for someone between the ages of 60 and 64 is 1%. If you're between 65 and 74, that creeps up to 3%. Alzheimer's becomes a significant risk only for those over age 85, most likely because you've survived the other risks that got the person next to you in line.
The average age at diagnosis for all cancer is 69. In fact, according to the National Cancer Institute, growing old is the first risk listed. But up to 70% of all cancers are related to decisions we make about what we eat, smoke, drink, and how we behave. So you are not condemned to passively waiting for a death sentence. And for most cancers, adopting better habits has benefits even if you have waited a very long time to see the light--and that even goes for smoking.
Technology is improving in the treatment of all conditions, and it is improving quick enough to possibly help you and me.
But the biggest risk factor of all, and not ever mentioned by insurance companies, is the quality of healthcare you receive. That's what they're fighting about in Washington right now.
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