[crag]

"Any type of situation that is expected to happen can not be covered by insurance, it needs to be covered by savings instead."

Yeah right. Until you run out of money. Then what?

In your world, you die. Good for everyone, until it's you or someone you care about. Then, like everyone else, you off running to the SS office to apply for (Medicare) disability.

The whole point of insurance is to protect against risk. Else why have it at all?

[anonymoushn]

Insurance is for unexpected events. Paying for expected events using insurance is not a worthwhile thing to do because you must pay for the cost of care plus the cost of running the insurance company, which is more expensive than just paying for the cost of care. So, if someone is worried about running out of money due to foreseeable medical expenses, buying insurance to cover those foreseeable medical expenses will cause him or her to run out of money earlier.