Which is Better? Savings or Insurance?

starhub called me yesterday, a malay guy, he was telling me that i got an outstanding bill $140.10 if i'm not wrong. must pay by 17 april. so i asked, what's the mininum that i need to pay. and he paused for a while... and said $70.

i purchased a new handphone on january this year. had to pay only $168 for it plus 2 year contract. but what i got after that is, high bills! after purchasing a handphone with cheap price, bills got higher every month. very clever.

to plan ahead, money must involve. either by saving the money or paying the money to insurance.
which is better, savings or insurance?
imagine you save 10K after let say, 8 years, and suddenly u get sick and had to go hospital. 10K had to be used for your medical and hospital bills. that's it, savings all gone.
imagine you pay about $30 a month to your insurance for 8 years already, suddenly you were admitted to hospital and 10K had to be used for the medical and hospital bills. the insurance pay for you either all or at least 70-80% of the bills.

so how, which is better, savings or insurance?


well i'm still thinking, heheeh!