- October 9, 2018
- Posted by: oneplacefinancial
- Category: Life Insurance
Life has a funny way of throwing unexpected things our way. While some things are inevitable, there are always a few steps we can take to be better prepared—and insurance plays a huge part in that.
Purchasing life insurance is probably the most important insurance decision you’ll ever make. This policy basically protects your family (parent, spouse, children, etc.) by providing them income in the event of your death.
If the primary breadwinner passes away, their family will have immense difficulty in covering their expenses because of their dependency on the deceased.
Life insurance aims to provide for the loved ones you leave behind who were dependent on your earnings to pay the bills. It helps in covering costs of funeral expenses, mortgage payments and other living expenses which may include loans, taxes, credit cards, and if there are kids, child care and college expenses.
However, this doesn’t mean you shouldn’t get life insurance if you’re not the primary breadwinner. It is always to have a financial cushion prepared in case tragedy strikes to help your family regroup after you pass on, and life insurance helps do just that.
With new and more life-threatening illnesses emerging all around us, the need for health insurance has gone high in recent times but approximately 48 million Americans still go without it.
The best option in acquiring healthcare benefits is through an employer’s insurance program. However, not all businesses offer this benefit and in cases like these, one needs to find healthcare insurance for themselves.
Getting health insurance at affordable rates can be difficult, especially if one has a pre-existing condition or does not have a sponsored program to back them up. The average cost of healthcare for employees in an employer sponsored program was found to be approximately $4,100 in a HRET survey. Add to this the yearly deductibles and co-payments that keep on increasing, health insurance has become something of a luxury now that not all can easily afford.
This is why you need to get health insurance from a provider that offers reasonable rates for maximum coverage. Doing so will provide you with sufficient monetary benefits for your medical bills and hospital stay.
Not having health insurance is like being just one hospital visit away from being bankrupt. Health insurance helps in significantly reduce overall costs of health care and can be very important if you have a chronic condition. Regardless of whether or not you’re in good health, having an insurance policy that covers major health problems is recommended to be prepared for the unknown.