Insurance protects everything. This is the reason why you must have it. Insurance is a handy solution that can free you from devastating problem when you experience a certain accident and you have to fork out a tremendous amount of money to pay for all liabilities. Insurance also provides you with financial security when you want to request a certain healthcare service in a certain clinic. If you want to hire a pediatrician to take care of your children, for example, and your insurance provides you with coverage for pediatric service, you don’t have to pay anything to get your children treated. There are many other benefits from having insurance and most of those benefits are financial. Therefore, you should always consider purchasing insurance if you want to keep you, your family and your property away from any dangerous situations and to keep your financial condition secured from any crises.
There are several important factors that you should take into consideration when you want to purchase a certain insurance policy. The first is obviously the reputability of the insurance agency from which you buy the policy. If you buy an insurance policy from an agency whose reputation is questionable, you will end up spending your money unnecessarily to buy a policy whose coverage cannot be relied on. Therefore, make sure the agency from which you buy the policy is reputable. You can find such reputable insurance agency by visiting such websites as generalinsuranceagency.com.
In addition to choosing the right agency, you should also assess the condition of the insured property. If you want to buy a life insurance policy, for example, make sure your current situation truly warrants such policy because if your situation, such as your workplace, the type of job that you have, etc, doesn’t warrant such policy, you will end up buying an unnecessary policy.
Offering protection from unexpected bills, medical insurance is a prudent investment for even the seemingly healthy. Without insurance, even a short hospital stay can cost thousands of dollars.
Statistics
The New York Times reported that nearly two out of every three bankruptcies in the United States are caused by an inability to pay medical bills.
In a national study, Physicians for a National Health Program reported one of the main reasons for bankruptcy cases in the U.S is uncovered medical expenses.
•In 2007 42 percent of all new bankruptcy filings were contributed to medical expense.
•In 2009 over 60 percent of all bankruptcies were medical related.
•Ninety percent of debtors filing bankruptcy had medical bills in excess of 10 percent of their gross income.
•Over 60 percent of individuals who filled medical bankruptcy had graduated college.
•Over 65 percent of debtors who filed bankruptcy for medical reasons were homeowners who lost their homes as a result.
Illness
Anyone can be struck by disease. People seemingly in perfect health, who eat right and exercise, suddenly come down with unexpected conditions that may be solely related to genetic predispositions. Cancer, heart disease and numerous other afflictions can be present for years before patients and their doctors become aware of the presence of the disease.
Accidents
No one is immune to accidents. Over have of all accidents occur while preforming everyday routines, such as slipping in the shower, and even a quick trip to the emergency room from a car accident can often run thousands of dollars.
Injuries around the home affect over 5 million people in the U.S. alone.
•Accidents caused by slipping in the bathroom result in over 300,000 injuries every year.
•Falling accounts for injuries to over 500,000 people annually.
•Falling off furniture results in over 500,000 injuries every year.
•Tripping, over such objects as lamp cords or on stairs, accounts for over 2 million injures annually.
Increased Risks
The Institute of Medicine reports that people who go without medical insurance are actually at a greater risk of illness than those who carry insurance, as the uninsured will usually forgo regular trips to a physician, or put off going to the doctor until symptoms become more serious. This can often prove fatal as life-threatening conditions that could be caught early often go undetected.
Collateral Issues
No matter how healthy someone appears today, tomorrow has a funny way of making yesterday seem like ancient history. Becoming unexpectedly sick or injured without having medical insurance can result in pressures that can damage relationships, and often lead to divorce. Trying to keep up with medical bills, without insurance, can often result in stress that can lead to even more serious health issues, including death.
Tony LaSarge is a freelance writer who regularly gives his expert knowledge to Kanetix and covers topics on financial management advice and money-saving tips.
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