I am glad I did not have insurance for ....Said no one ever....

12/5/2016 (Permalink)

Having the right insurance and coverage can mean all the difference in the world

Never has anyone said I wish I did not have that health insurance after having a severe health scare.

Never has anyone said wow I sure am glad I did not have car insurance after getting into a bad car accident where there was personal property damage and an injury to themselves or others.

Never has anyone said wow that insurance was a waste of money after suffering devastation from a fire.

Never has a loved one said I am grateful that I got to pay for those funeral services myself, due to a family member not having death benefits laid out prior to something happening.

Never has anyone said it is a good thing I did not spend $30 a month on rental insurance when the lost everything in their apartment due to a frozen pipe break or fire in the home they were renting from

Sure everyone complains about insurance, and yes many many times it is an expense we all look at as wasteful and a crock especially if you have never had to use it on a larger scale. But let us examine some situations where this was not the case. These examples are real , we know these people personally and they have all occurred in the month of November of this year.

1. Health Insurance
   1. This is a very large expense for most and with premiums, deductibles and co-pays going up can be something we look at to cut from our expenses. This is always a bad idea, all it takes is one accident, one injury and everything you have could be gone. Do you have enough money in your savings to be out of work with no income for 2 years or more? If you are like most Americans your answer is no. Well guess what then you cannot afford to not have health insurance.
      1. Health Insurance & Aflac coverage Example: Recently read a story about a gentleman that has cirrhosis of the liver. While undergoing testing for this they found prostate cancer. Both of which are painful and require aggressive treatment with inpatient and outpatient care for more than 3 months already. His wife was walking into the hospital during one of his admission days and she slipped and fell in the parking lot and broke her back. This is going to require surgery. Two people who can no longer work, which do not have a means of paying their regular bills nor the mounting hospital bills due to having no insurance.
2. Obtaining insurance for your bills like Aflac and any sort of health insurance will provide a buffer for such care and would put them in a much better position to focus on their care and getting better rather than where they will live when they are released from the hospital.
3. Home Owners Insurance with Fire Coverage Rental insurance & Health Insurance Example
   1. A family was trying to clean up a home they had rented which was trashed by the occupants. The owners had recently moved to Colorado and rented out a place in Florida. A faulty electrical wire sparked a major fire one night while the owner was trying to clean up the trashed Florida home. He suffered severe burns to a good percentage of his body specifically his hands and the home was burned to the ground. He has only been treated in the hospital for 2 weeks with weeks and weeks to go, as burns require constant care for high risk of infection. Medical bills alone are over $20K after 2 weeks. There was no insurance on the home in Florida and now they have nothing left what so ever. There is also no medical insurance so he checked himself out of the hospital and is trying to treat the painful burns on his own due to the expense of the proper care in the hospital.
4. Rental Insurance:
   1. So you do not own a home. Does that mean you do not need to protect the things you do own? The items in your apartment are not covered by the home owners’ policy. If there is water damage from a broken pipe or fire and smoke damage that puts you out on the streets with nothing left can you start over easily? The answer is most likely no. Making sure you are able to replace items that you lost is very important this insurance is very cost effective and less than a dinner out once a month.
   2. Rental insurance example:
      1. A young couple with 2 children living in a 3 family home in the area. The home suffered a fire. Many of their belongings were lost in the fire. They were able to get in and look around but where told not to remove anything as they investigators were not done. Once the building was cleared for them to remove the few things that remained it was noticed they had been robbed. Not only do they have to come up with first, last and security deposit to find a new place to live. They must replace all items that were lost in the fire or stolen. Would you be able to recover and replace these items in less than a 2 week time frame. Why two weeks???? That is all that many assistance agencies will provide for shelter in regards to shelter and food.
5. Death/ Funeral expenses & Health Insurance:
   1. Death benefits & Health Insurance Example:
   2. Many times death is not planned for and can be sudden or tied to an onset of an illness. Should a loved one die do you have $ 10K or more for their services. What will you have to sacrifice to give them the send off they deserve.
   3. Unexpected Death Example:
      1. A 38 year old father of 2 went to sleep and never woke up. He had a blood clot let go and went into his heart from his lungs. His family had to raise funds to be able to provide him with funeral services. This delayed the services by a few weeks. When dealing with a loved ones’ death trying to raise enough money for a proper burial is not what you want to deal with.

Will you have to choose between your health and a bill? Where is your line of care drawn and what will you be able to rebuild with when there is nothing left. These stories are not meant to have you roll your eyes and say it will not happen to me.

These are all real world examples of people we know just during the month of November. These personal accounts are near and dear to use as they are friends or family of friends. Insurance is the one items you spend money on that you want to be a waste of money but let me be the first to tell you it only takes one accident, on slip and fall, one bad day to make it the most valuable thing you have ever purchased.

If you are not sure what insurance is right for your specific situation or what you may need reach out to your local insurance agent. With everything being so customizable it is very easy to find what fits your needs. Please do your research, a lot of it is not as expensive as you may think and the peace of mind for you and your family can not have a price. Be safe out there we want you home with your family every day.