Skip to main content

May the Odds Be in Your Favor


First of all, let us define insurance. It is the transfer of risk–from you to the insurance company. Insurance is there to help you lessen the burden of something catastrophic that you hope will never happen, but there is a chance.

I now hesitate to move on because the sheer mention of this phrase might cause some people to get on their political soapboxes, but it must be done. Health insurance–there, I said it.

This post is NOT about the right or wrong way to give everybody access to health care. This is about the importance of having health insurance and why YOU and YOUR FAMILY need it.

There are very, very few of us that will make it through life without getting sick or injured. In many cases, when we experience one of those misfortunes, we are able to wait out the problem and treat only the symptoms. However, there are times when we need the help of a trained physician (a doctor), and in some extreme cases, we need around-the-clock care (in a hospital). For reasons that we are not going to discuss here, both of these options can be very costly and can even totally financially devastate an individual or a family.

Author’s note so there are no surprises–I’m going to be using “financially devastating” in some form or other for the next few weeks. Be prepared.

Studies have shown that when faced with an illness or injury that needs expert attention, those who do not have health insurance do not seek help as early as they should. This results in MORE costs and MORE discomfort in the long run.

Having insurance makes sure that the insured–the person paying for the insurance–is not left to pay for the entire cost of a devastating event on his or her own. The most important assets you can insure are:

1. YOU, and
2. YOUR HEALTH.

You only get one YOU. Make sure your YOU is properly protected.

Comments

Post a Comment

Popular posts from this blog

One More–Christmas Experiences Part II

Christmas is just a week away. Hopefully you’ve checked everything off your to-do list and can spend some quality time “experiencing” Christmas gifts with your family. Because, after all, your loved ones will be far more touched by how you made them feel than they will be with what you gave them. This week, I want to share with you my sister, Carey’s, family Christmas experience. “One Christmas, when my boys, now 18, 23 and 28, were little, we gave them an experience that is still talked about now. And it’s something so easily replicated that any family can do it, and it’s not too late to do it for Christmas (even ON Christmas) this year. We drove around our neighborhood and looked at all the homes decorated for the holiday. We took note of the addresses as we numbered them. We talked about what made each ornamented yards stand out. And at the end of the night, we voted for our favorite. I had my sons help me make some of our favorite holiday desserts and, in addition to taking p...
Post a Comment
Read more

Books Equal Bucks

 In November PBS always hosts their  Annual Reading Marathon . “Wow. That’s the  second  time this month that our financial blogger has gone off the rails regarding blog topics. What does reading have to do with finances?” My answer? Everything. Establishing good reading habits in children–reading 20 minutes a day–can literally change their financial future. Good readers do better in school. Good readers are more likely to graduate from high school. Good readers will probably make more money as adults. Reading changes EVERYTHING          . That being said, books  can  be expensive, but they don’t have to be. Libraries are some of the best resources for book access–they play SUCH an important role in our community. You can also share/trade books with your neighbors, friends, and family members (just make sure you have a good system for tracking book ownership). Second-hand stores or garage sales are awesome places to s...
Post a Comment
Read more

Bon Voyage

Many of you are aware that I like to travel. I’ve had the pleasure of visiting a few foreign countries and taking a handful of cruises, and I intend to do more in the not-to-distant future. Because you know me, you know I don’t finance these trips–I plan ahead and save for them. And if you’ve followed my blog for a while, you are also aware that I do use one credit card for which I earn flight miles, and I use this card on the trips where I see the world. There is one thing about my credit card for which I am especially grateful–whenever there is suspicious activity on my account, I get a text notification. The credit card company recognizes that charges abroad MIGHT NOT BE LEGIT, and they send me a message. All I have to do is confirm that it is, in fact, me that made the peculiar purchase, and I’m good to go. If I did not make the purchase, I respond in kind, and my card is deactivated. Note to self and others: one could avoid these potential interruptions if one calls credit car...
Post a Comment
Read more