Dr. Peter's Financial Systems Blog
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  • 62. Predicting the NASDAQ trend from 2016 to 2020 and the S&P 500 from 2017 to 2022
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  • 60. my letters to the prime minister during the 1997 Asian Financial Crisis
  • 59. The way forward
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  • 57. The Calling of the Lord
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  • 53. Thank you President Barack Obama
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  • 51. Congratulations to President Trump
  • 50. Obamacare
  • 49. High cost of insurance premiums
  • 48. Past predictions and the price of gold
  • 47. Save the children
  • 46. Sino Russian world war and the end of America
  • 45. The Lord Gods blessing and generational curses and gays lesbians
  • 44. Slowing economic growth
  • 43. False teachings in the church in Malaysia
  • 42. Banking problems in Malaysia with AmBank
  • 41. Banking problems in Malaysia
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  • 34. Palm Oil price trend prediction 2012 2013 2014
  • 33. NYSE Composite Index prediction of 2015 Bull Run
  • 32. Brent-crude-price-forecast-2012-2013-2014
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  • 30. Indian stock exchange nifty index prediction chart
  • 29. Soybean prices commodity chart prediction for day traders and others
  • 28. Huduh is not for malaysia and the errors in huduh
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  • 25. stock chart signals and price action patterns - by Steve Sollheiser
  • 24. Malaysian property prices and the property market
  • 23. Malaysian population growth and Malaysian property prices
  • 22. False teachings of the muslim terrorist
  • 21. The alternative technical analysis for commodity and stock market analysis
  • 20. Malaysian property price, bubble and crash in 2012
  • 19. The basics of stock market, forex, commodity and financial economy models
  • 18. Gold price and business opportunities
  • 17. US Economic recovery and growth part 4
  • 16. US Economic recovery and growth part 3
  • 15. Gold price forecast trend chart 2011 2012 2013 2014 2015 2016
  • 14. US Economic Recovery and Growth Part 2
  • 13. US Economic Recovery 2009 2010 2011
  • 12. How to predict gold price trend 2011 2015
  • 11. Malaysian property prices and the property bubble
  • 10. Distribution of Wealth Model and Supply and Demand
  • 9. Gold price forecast 2011 2015
  • 8. Explanation of inflation and model of inflation hyperinflation
  • 7. Approximate silver price trend prediction chart june sept 2011
  • 6. how to predict stock and commodity trends
  • 5. Causes of economic crisis recession and high inflation or hyperinflation
  • 4. What is inflation and how to manage inflation
  • 3. Making sound investment decisions
  • 2. forecasting commodity and stock market trends
  • 1. Dr. Peters Loan Calculator
  •  
    « High cost of insurance premiums
    Money cannot intoxicate but greed can
    - Dr. Peter Achutha, 18 July 2009
    Congratulations to President Trump »

    Obamacare


    pop up insurance schemes
    pop up insurance schemes
    pop up insurance schemes
    pop up insurance schemes

    Before I go into Obamacare, let me tell you that I really need your help. I suspect I have been blacklisted in Malaysia for over 16 years. Why am I being punished for something I did not do? No one here will give me a job and they will not allow me to leave the country to get a job overseas.

    I have even written to the Income Tax department to allow me to leave the country as they blocked my passport from being renewed. I owe them about RM20,000 (USD$4787) but since I was developing this Alternative Theory of Economics on my own, as no university or fund manager or government agency wanted to fund it, it was impossible to pay off this debt. I am not sure if they will allow me to leave this country even after paying of my debts.

    Even after helping the Malaysian government during the 1998 Financial Crisis which saved the country from a near Depression and billions of Ringgit and multitudes of businesses, the Income Tax department refused to cancel this debt and set me free. I believe this is because very powerful Muslims want to take control of this technology which was created by a non-Muslim. They want to claim Islam is the greatest religion in the world by using this technology to raid the stock markets and commodity markets around the world. This is the reason they are blocking me from earning anything. That means they are trying to make me beg them for financial aid so that they can take control of this technology. Worst still several powerful Muslims have tried to make me a bankrupt with false claims, without success, so that they can take possession of my apartment and my computer and claim they are the owners of this technology.

    Why could these fanatics not offer good amount of funds in compensation? Why could they not just ask me directly instead of going behind my back and try to destroy my life? It is a shame how people behave. I think it is because I am a non-Muslims and non-Muslims are supposed to work for Muslims for free. I have helped Muslims before and they never paid me anything. Many of them cannot even say 'Thank You' because it appears it is against Islam to do so. The Lord God is very smart as he had warned me years ago not to join the Muslim fund managers and I think that is because of their ungratefulness.

    I really need overseas help.



    Jesus appears to me two more times


    The way, the truth and the life
    The way, the truth and the life
    The way, the truth and the life
    The way, the truth and the life

    After I wrote the article on saving the children of Syria, our Lord Jesus Christ appeared to me two more times. Firstly, he wanted me to write about having no Muslims in the West. I think he wanted them to convert to Christianity. Secondly, I think he wanted Obamacare implemented and not repealed. The probable reason is that many poor people would benefit from it.



    Insurance

    I never liked insurance schemes as somehow they seemed to be helping insurance companies and not the insured. Please refer to my previous article on high cost of inflated premiums by insurance companies. The premiums are too expensive for the poor. It looks like everyone wants to help the rich but not the poor.

    I quote Zechariah 7:9-11 "This is what the Lord Almighty said: 'Administer true justice; show mercy and compassion to one another. Do not oppress the widow or the fatherless, the foreigner or the poor. Do not plot evil against each other.'"

    I quote Isaiah 10:1-3 "Woe to those who make unjust laws, to those who issue oppressive decrees, to deprive the poor of their rights and withhold justice from the oppressed of my people, making widows their prey and robbing the fatherless. What will you do on the day of reckoning, when disaster comes from afar? To whom will you run for help? Where will you leave your riches?"

    Jesus wants us to look after the poor, the sick, the fatherless, the widows and not to oppress the foreigner.



    Health Insurance payments

    I looked at how much premiums people can pay and what it works out to be in their old age, working back what was the value of premium payments when carried forward by 30 years or later. That is if I had paid $50 per month in 1965 it would be the equivalent of paying $225 per month today. Normally insurance companies will set a premium and you pay a fixed amount every month until the policy matures. Since I do not know how long a policy will last I have used a premium that increases with the rate of inflation and does not mature until you pass away. I would assume that with such a policy your estate or your beneficiaries would be paid the balance left after medical expense are paid for.

    I looked at how much cumulative payment would have been made and I think it far exceeds any average hospitalization costs or heavy medication costs.

    I tested the data with monthly premiums being 3% to 5% of monthly salary. Some of the American insurance website calculators quote about 10% of your monthly salary.

    I had used an inflationary rate of about 3% and this is the figure I had used for savings interest rate (column 9). This is because, in Malaysia, the price of an egg was about RM0.10 somewhere in 1965 to 1970 and today, in 2016, it's about RM0.45. This rate is used to work out what would be the value today of a premium paid out years ago. In Malaysia the bank interest rate was 6% to 8% for many years.

    The column numbers are at the top of the table with the second row showing the title of the column. Column 1, Age, shows the age at which a person was making premium payments. The 2nd column, Year, is the year when this premium was paid. The 3rd column, Egg Price, shows the approximate price of an egg in that year. The 4th column, Monthly, shows the monthly premium payment. The 5th column, Yearly, is the total premium payment for that year. The 6th column, Cumulative, shows the actual total amount paid over the years and is not corrected for inflation. The 7th column, Equivalent, shows how much this annual premium would be today in 2016, when corrected for inflation. The 8th column, Total Billed, shows the cumulative premiums paid to the insurance companies over the years when corrected for inflation - the real value paid. And the last column shows what if you had placed that money in a savings account at 3% interest per year.

    I wanted to be conservative in my calculations in the savings column 9. The interest accrued from the previous year is only added at the end of the next year.



    Table of yearly payments


    1 2 3 4 5 6 7 8 9
    Age Year Egg Price Monthly Yearly Cumulative Equivalent Total Billed Savings
    20 1965 $0.10 $50.00 $600.00 $600.00 $2,709.25 $2,709.25 $600.00
    21 1966 $0.10 $51.50 $618.00 $1,218.00 $2,709.25 $5,418.51 $1,236.00
    22 1967 $0.11 $53.05 $636.54 $1,854.54 $2,709.25 $8,127.76 $1,909.62
    23 1968 $0.11 $54.64 $655.64 $2,510.18 $2,709.25 $10,837.02 $2,622.54
    24 1969 $0.11 $56.28 $675.31 $3,185.48 $2,709.25 $13,546.27 $3,376.53
    25 1970 $0.12 $57.96 $695.56 $3,881.05 $2,709.25 $16,255.52 $4,173.39
    26 1971 $0.12 $59.70 $716.43 $4,597.48 $2,709.25 $18,964.78 $5,015.02
    27 1972 $0.12 $61.49 $737.92 $5,335.40 $2,709.25 $21,674.03 $5,903.39
    28 1973 $0.13 $63.34 $760.06 $6,095.46 $2,709.25 $24,383.29 $6,840.56
    29 1974 $0.13 $65.24 $782.86 $6,878.33 $2,709.25 $27,092.54 $7,828.64
    30 1975 $0.13 $67.20 $806.35 $7,684.68 $2,709.25 $29,801.79 $8,869.85
    31 1976 $0.14 $69.21 $830.54 $8,515.22 $2,709.25 $32,511.05 $9,966.48
    32 1977 $0.14 $71.29 $855.46 $9,370.67 $2,709.25 $35,220.30 $11,120.93
    33 1978 $0.15 $73.43 $881.12 $10,251.79 $2,709.25 $37,929.55 $12,335.68
    34 1979 $0.15 $75.63 $907.55 $11,159.35 $2,709.25 $40,638.81 $13,613.31
    35 1980 $0.16 $77.90 $934.78 $12,094.13 $2,709.25 $43,348.06 $14,956.49
    36 1981 $0.16 $80.24 $962.82 $13,056.95 $2,709.25 $46,057.32 $16,368.01
    37 1982 $0.17 $82.64 $991.71 $14,048.66 $2,709.25 $48,766.57 $17,850.75
    38 1983 $0.17 $85.12 $1,021.46 $15,070.12 $2,709.25 $51,475.82 $19,407.74
    39 1984 $0.18 $87.68 $1,052.10 $16,122.22 $2,709.25 $54,185.08 $21,042.07
    40 1985 $0.18 $90.31 $1,083.67 $17,205.89 $2,709.25 $56,894.33 $22,757.00
    41 1986 $0.19 $93.01 $1,116.18 $18,322.07 $2,709.25 $59,603.59 $24,555.89
    42 1987 $0.19 $95.81 $1,149.66 $19,471.73 $2,709.25 $62,312.84 $26,442.23
    43 1988 $0.20 $98.68 $1,184.15 $20,655.88 $2,709.25 $65,022.09 $28,419.65
    44 1989 $0.20 $101.64 $1,219.68 $21,875.56 $2,709.25 $67,731.35 $30,491.91
    45 1990 $0.21 $104.69 $1,256.27 $23,131.83 $2,709.25 $70,440.60 $32,662.94
    46 1991 $0.22 $107.83 $1,293.95 $24,425.78 $2,709.25 $73,149.86 $34,936.78
    47 1992 $0.22 $111.06 $1,332.77 $25,758.55 $2,709.25 $75,859.11 $37,317.66
    48 1993 $0.23 $114.40 $1,372.76 $27,131.31 $2,709.25 $78,568.36 $39,809.94
    49 1994 $0.24 $117.83 $1,413.94 $28,545.25 $2,709.25 $81,277.62 $42,418.18
    50 1995 $0.24 $121.36 $1,456.36 $30,001.61 $2,709.25 $83,986.87 $45,147.08
    51 1996 $0.25 $125.00 $1,500.05 $31,501.66 $2,709.25 $86,696.13 $48,001.54
    52 1997 $0.26 $128.75 $1,545.05 $33,046.70 $2,709.25 $89,405.38 $50,986.64
    53 1998 $0.27 $132.62 $1,591.40 $34,638.11 $2,709.25 $92,114.63 $54,107.64
    54 1999 $0.27 $136.60 $1,639.14 $36,277.25 $2,709.25 $94,823.89 $57,370.01
    55 2000 $0.28 $140.69 $1,688.32 $37,965.57 $2,709.25 $97,533.14 $60,779.43
    56 2001 $0.29 $144.91 $1,738.97 $39,704.53 $2,709.25 $100,242.40 $64,341.78
    57 2002 $0.30 $149.26 $1,791.14 $41,495.67 $2,709.25 $102,951.65 $68,063.17
    58 2003 $0.31 $153.74 $1,844.87 $43,340.54 $2,709.25 $105,660.90 $71,949.93
    59 2004 $0.32 $158.35 $1,900.22 $45,240.76 $2,709.25 $108,370.16 $76,008.65
    60 2005 $0.33 $163.10 $1,957.22 $47,197.98 $2,709.25 $111,079.41 $80,246.13
    61 2006 $0.34 $167.99 $2,015.94 $49,213.92 $2,709.25 $113,788.66 $84,669.45
    62 2007 $0.35 $173.03 $2,076.42 $51,290.34 $2,709.25 $116,497.92 $89,285.95
    63 2008 $0.36 $178.23 $2,138.71 $53,429.05 $2,709.25 $119,207.17 $94,103.24
    64 2009 $0.37 $183.57 $2,202.87 $55,631.92 $2,709.25 $121,916.43 $99,129.21
    65 2010 $0.38 $189.08 $2,268.96 $57,900.87 $2,709.25 $124,625.68 $104,372.05
    66 2011 $0.39 $194.75 $2,337.03 $60,237.90 $2,709.25 $127,334.93 $109,840.23
    67 2012 $0.40 $200.59 $2,407.14 $62,645.04 $2,709.25 $130,044.19 $115,542.58
    68 2013 $0.41 $206.61 $2,479.35 $65,124.39 $2,709.25 $132,753.44 $121,488.21
    69 2014 $0.43 $212.81 $2,553.73 $67,678.12 $2,709.25 $135,462.70 $127,686.58
    70 2015 $0.44 $219.20 $2,630.34 $70,308.46 $2,709.25 $138,171.95 $134,147.52
    71 2016 $0.45 $225.77 $2,709.25 $73,017.72 $2,709.25 $140,881.20 $140,881.20
    72 2017 $0.47 $232.54 $2,790.53 $75,808.25 $2,709.25 $143,590.46 $147,898.17
    73 2018 $0.48 $239.52 $2,874.25 $78,682.50 $2,709.25 $146,299.71 $155,209.36
    74 2019 $0.49 $246.71 $2,960.47 $81,642.97 $2,709.25 $149,008.97 $162,826.12
    75 2020 $0.51 $254.11 $3,049.29 $84,692.26 $2,709.25 $151,718.22 $170,760.19
    76 2021 $0.52 $261.73 $3,140.77 $87,833.03 $2,709.25 $154,427.47 $179,023.77
    77 2022 $0.54 $269.58 $3,234.99 $91,068.02 $2,709.25 $157,136.73 $187,629.47
    78 2023 $0.56 $277.67 $3,332.04 $94,400.06 $2,709.25 $159,845.98 $196,590.39
    79 2024 $0.57 $286.00 $3,432.00 $97,832.06 $2,709.25 $162,555.24 $205,920.11
    80 2025 $0.59 $294.58 $3,534.96 $101,367.02 $2,709.25 $165,264.49 $215,632.67
    81 2026 $0.61 $303.42 $3,641.01 $105,008.03 $2,709.25 $167,973.74 $225,742.66
    82 2027 $0.63 $312.52 $3,750.24 $108,758.28 $2,709.25 $170,683.00 $236,265.19
    83 2028 $0.64 $321.90 $3,862.75 $112,621.02 $2,709.25 $173,392.25 $247,215.89
    84 2029 $0.66 $331.55 $3,978.63 $116,599.65 $2,709.25 $176,101.50 $258,611.00
    85 2030 $0.68 $341.50 $4,097.99 $120,697.64 $2,709.25 $178,810.76 $270,467.32
    86 2031 $0.70 $351.74 $4,220.93 $124,918.57 $2,709.25 $181,520.01 $282,802.27
    87 2032 $0.72 $362.30 $4,347.56 $129,266.13 $2,709.25 $184,229.27 $295,633.89
    88 2033 $0.75 $373.17 $4,477.98 $133,744.11 $2,709.25 $186,938.52 $308,980.89
    89 2034 $0.77 $384.36 $4,612.32 $138,356.44 $2,709.25 $189,647.77 $322,862.64
    90 2035 $0.79 $395.89 $4,750.69 $143,107.13 $2,709.25 $192,357.03 $337,299.21
    91 2036 $0.82 $407.77 $4,893.21 $148,000.35 $2,709.25 $195,066.28 $352,311.40
    92 2037 $0.84 $420.00 $5,040.01 $153,040.36 $2,709.25 $197,775.54 $367,920.76
    93 2038 $0.87 $432.60 $5,191.21 $158,231.57 $2,709.25 $200,484.79 $384,149.59
    94 2039 $0.89 $445.58 $5,346.95 $163,578.51 $2,709.25 $203,194.04 $401,021.02
    95 2040 $0.92 $458.95 $5,507.36 $169,085.87 $2,709.25 $205,903.30 $418,559.01

    Table of yearly payments


    1 2 3 4 5 6 7 8 9
    Age Year Egg Price Monthly Yearly Cumulative Equivalent Total Billed Savings
    20 1965 $0.10 $50.00 $600.00 $600.00 $2,709.25 $2,709.25 $600.00
    21 1966 $0.10 $51.50 $618.00 $1,218.00 $2,709.25 $5,418.51 $1,236.00
    22 1967 $0.11 $53.05 $636.54 $1,854.54 $2,709.25 $8,127.76 $1,909.62
    23 1968 $0.11 $54.64 $655.64 $2,510.18 $2,709.25 $10,837.02 $2,622.54
    24 1969 $0.11 $56.28 $675.31 $3,185.48 $2,709.25 $13,546.27 $3,376.53
    25 1970 $0.12 $57.96 $695.56 $3,881.05 $2,709.25 $16,255.52 $4,173.39
    26 1971 $0.12 $59.70 $716.43 $4,597.48 $2,709.25 $18,964.78 $5,015.02
    27 1972 $0.12 $61.49 $737.92 $5,335.40 $2,709.25 $21,674.03 $5,903.39
    28 1973 $0.13 $63.34 $760.06 $6,095.46 $2,709.25 $24,383.29 $6,840.56
    29 1974 $0.13 $65.24 $782.86 $6,878.33 $2,709.25 $27,092.54 $7,828.64
    30 1975 $0.13 $67.20 $806.35 $7,684.68 $2,709.25 $29,801.79 $8,869.85
    31 1976 $0.14 $69.21 $830.54 $8,515.22 $2,709.25 $32,511.05 $9,966.48
    32 1977 $0.14 $71.29 $855.46 $9,370.67 $2,709.25 $35,220.30 $11,120.93
    33 1978 $0.15 $73.43 $881.12 $10,251.79 $2,709.25 $37,929.55 $12,335.68
    34 1979 $0.15 $75.63 $907.55 $11,159.35 $2,709.25 $40,638.81 $13,613.31
    35 1980 $0.16 $77.90 $934.78 $12,094.13 $2,709.25 $43,348.06 $14,956.49
    36 1981 $0.16 $80.24 $962.82 $13,056.95 $2,709.25 $46,057.32 $16,368.01
    37 1982 $0.17 $82.64 $991.71 $14,048.66 $2,709.25 $48,766.57 $17,850.75
    38 1983 $0.17 $85.12 $1,021.46 $15,070.12 $2,709.25 $51,475.82 $19,407.74
    39 1984 $0.18 $87.68 $1,052.10 $16,122.22 $2,709.25 $54,185.08 $21,042.07
    40 1985 $0.18 $90.31 $1,083.67 $17,205.89 $2,709.25 $56,894.33 $22,757.00
    41 1986 $0.19 $93.01 $1,116.18 $18,322.07 $2,709.25 $59,603.59 $24,555.89
    42 1987 $0.19 $95.81 $1,149.66 $19,471.73 $2,709.25 $62,312.84 $26,442.23
    43 1988 $0.20 $98.68 $1,184.15 $20,655.88 $2,709.25 $65,022.09 $28,419.65
    44 1989 $0.20 $101.64 $1,219.68 $21,875.56 $2,709.25 $67,731.35 $30,491.91
    45 1990 $0.21 $104.69 $1,256.27 $23,131.83 $2,709.25 $70,440.60 $32,662.94
    46 1991 $0.22 $107.83 $1,293.95 $24,425.78 $2,709.25 $73,149.86 $34,936.78
    47 1992 $0.22 $111.06 $1,332.77 $25,758.55 $2,709.25 $75,859.11 $37,317.66
    48 1993 $0.23 $114.40 $1,372.76 $27,131.31 $2,709.25 $78,568.36 $39,809.94
    49 1994 $0.24 $117.83 $1,413.94 $28,545.25 $2,709.25 $81,277.62 $42,418.18
    50 1995 $0.24 $121.36 $1,456.36 $30,001.61 $2,709.25 $83,986.87 $45,147.08
    51 1996 $0.25 $125.00 $1,500.05 $31,501.66 $2,709.25 $86,696.13 $48,001.54
    52 1997 $0.26 $128.75 $1,545.05 $33,046.70 $2,709.25 $89,405.38 $50,986.64
    53 1998 $0.27 $132.62 $1,591.40 $34,638.11 $2,709.25 $92,114.63 $54,107.64
    54 1999 $0.27 $136.60 $1,639.14 $36,277.25 $2,709.25 $94,823.89 $57,370.01
    55 2000 $0.28 $140.69 $1,688.32 $37,965.57 $2,709.25 $97,533.14 $60,779.43
    56 2001 $0.29 $144.91 $1,738.97 $39,704.53 $2,709.25 $100,242.40 $64,341.78
    57 2002 $0.30 $149.26 $1,791.14 $41,495.67 $2,709.25 $102,951.65 $68,063.17
    58 2003 $0.31 $153.74 $1,844.87 $43,340.54 $2,709.25 $105,660.90 $71,949.93
    59 2004 $0.32 $158.35 $1,900.22 $45,240.76 $2,709.25 $108,370.16 $76,008.65
    60 2005 $0.33 $163.10 $1,957.22 $47,197.98 $2,709.25 $111,079.41 $80,246.13
    61 2006 $0.34 $167.99 $2,015.94 $49,213.92 $2,709.25 $113,788.66 $84,669.45
    62 2007 $0.35 $173.03 $2,076.42 $51,290.34 $2,709.25 $116,497.92 $89,285.95
    63 2008 $0.36 $178.23 $2,138.71 $53,429.05 $2,709.25 $119,207.17 $94,103.24
    64 2009 $0.37 $183.57 $2,202.87 $55,631.92 $2,709.25 $121,916.43 $99,129.21
    65 2010 $0.38 $189.08 $2,268.96 $57,900.87 $2,709.25 $124,625.68 $104,372.05
    66 2011 $0.39 $194.75 $2,337.03 $60,237.90 $2,709.25 $127,334.93 $109,840.23
    67 2012 $0.40 $200.59 $2,407.14 $62,645.04 $2,709.25 $130,044.19 $115,542.58
    68 2013 $0.41 $206.61 $2,479.35 $65,124.39 $2,709.25 $132,753.44 $121,488.21
    69 2014 $0.43 $212.81 $2,553.73 $67,678.12 $2,709.25 $135,462.70 $127,686.58
    70 2015 $0.44 $219.20 $2,630.34 $70,308.46 $2,709.25 $138,171.95 $134,147.52
    71 2016 $0.45 $225.77 $2,709.25 $73,017.72 $2,709.25 $140,881.20 $140,881.20
    72 2017 $0.47 $232.54 $2,790.53 $75,808.25 $2,709.25 $143,590.46 $147,898.17
    73 2018 $0.48 $239.52 $2,874.25 $78,682.50 $2,709.25 $146,299.71 $155,209.36
    74 2019 $0.49 $246.71 $2,960.47 $81,642.97 $2,709.25 $149,008.97 $162,826.12
    75 2020 $0.51 $254.11 $3,049.29 $84,692.26 $2,709.25 $151,718.22 $170,760.19
    76 2021 $0.52 $261.73 $3,140.77 $87,833.03 $2,709.25 $154,427.47 $179,023.77
    77 2022 $0.54 $269.58 $3,234.99 $91,068.02 $2,709.25 $157,136.73 $187,629.47
    78 2023 $0.56 $277.67 $3,332.04 $94,400.06 $2,709.25 $159,845.98 $196,590.39
    79 2024 $0.57 $286.00 $3,432.00 $97,832.06 $2,709.25 $162,555.24 $205,920.11
    80 2025 $0.59 $294.58 $3,534.96 $101,367.02 $2,709.25 $165,264.49 $215,632.67
    81 2026 $0.61 $303.42 $3,641.01 $105,008.03 $2,709.25 $167,973.74 $225,742.66
    82 2027 $0.63 $312.52 $3,750.24 $108,758.28 $2,709.25 $170,683.00 $236,265.19
    83 2028 $0.64 $321.90 $3,862.75 $112,621.02 $2,709.25 $173,392.25 $247,215.89
    84 2029 $0.66 $331.55 $3,978.63 $116,599.65 $2,709.25 $176,101.50 $258,611.00
    85 2030 $0.68 $341.50 $4,097.99 $120,697.64 $2,709.25 $178,810.76 $270,467.32
    86 2031 $0.70 $351.74 $4,220.93 $124,918.57 $2,709.25 $181,520.01 $282,802.27
    87 2032 $0.72 $362.30 $4,347.56 $129,266.13 $2,709.25 $184,229.27 $295,633.89
    88 2033 $0.75 $373.17 $4,477.98 $133,744.11 $2,709.25 $186,938.52 $308,980.89
    89 2034 $0.77 $384.36 $4,612.32 $138,356.44 $2,709.25 $189,647.77 $322,862.64
    90 2035 $0.79 $395.89 $4,750.69 $143,107.13 $2,709.25 $192,357.03 $337,299.21
    91 2036 $0.82 $407.77 $4,893.21 $148,000.35 $2,709.25 $195,066.28 $352,311.40
    92 2037 $0.84 $420.00 $5,040.01 $153,040.36 $2,709.25 $197,775.54 $367,920.76
    93 2038 $0.87 $432.60 $5,191.21 $158,231.57 $2,709.25 $200,484.79 $384,149.59
    94 2039 $0.89 $445.58 $5,346.95 $163,578.51 $2,709.25 $203,194.04 $401,021.02
    95 2040 $0.92 $458.95 $5,507.36 $169,085.87 $2,709.25 $205,903.30 $418,559.01


    Conclusions


    1. By the time one reaches retirement age there is a huge amount of money paid to the insurance companies. This money, when corrected for inflation, is more than sufficient to pay for monthly medication, surgery, treatements. Why do insurance premiums have to increase by more than 3% per year?

    2. Eventually, consistent savings in the bank will out perform the insurance companies. This means that the insurance companies need to really have a hard look at their real performances.

    3. There must be some center which records the amount of premiums paid, by the insured to insurance companies so that if the insured changes companies the cumulative payment is tracked correctly. I know that in many cases, when the insurance policy matures the insured are provided a lump sum of money but in my parents case the amount paid out was less than the total premiums paid to the insurance company. It was a loss for my parents after having not made any claims on the policy. At the end of the day the premiums paid by the insured must show the total cumulative payments, corrected for inflation, whether they change insurers or not because this is what the insured has forked out over the years. In the example table above, you can see that by 2016 the insured had made the equivalent of $140,881/- in payments - in todays money. This far exceeds any medical bill of Joe Average as not everyone falls sick.

    4. Insurance policies cannot be cancelled if the insured is unable to make payments for a few years, as in the case of a recession or loss of job ,...etc. The cumulative amount would be less but in the long term the insured would have access to insured medical care and not needing to fork out for medical bills from their own pocket.



    - Peter Achutha, 9th November 2016


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