We really ought to think of health insurance as sickness insurance to help protect our loved ones from financial crisis. Insuring our health is our job, and we do pretty well on that score. We're more health conscious and generally in better physical condition than our parents were, but we live in a far different world. A hospital stay can easily cost hundreds of thousands of dollars. A single chemo treatment could cost you over $20,000. Health costs are insane! Nobody can withstand that kind of financial impact and obviously this type of budget really crush our self..
You might be forced to accept a health insurance policy with a higher deductible simply to be able to afford the premiums. What you can't afford to accept is health insurance that excludes or puts a low cap on serious illness. The alternative, losing all you've worked for your entire life, is unthinkable.
What can you do when health care costs are spiraling out of control and health insurance premiums have become all but unaffordable? If you expect your health insurance to cover all or most out of pocket expenses, your premium will be out of sight. Better to bite the bullet and pay the higher co-pay for a doctor visit or a lab test, especially if you are healthy and rarely use your insurance
That's a very famous quote from Dr. David Himmelstein, the lead author of a Harvard University study carried out jointly by researchers at Harvard Law School and Harvard Medical school that found the leading cause of personal bankruptcies in the U.S. are medical bills. Even people who had private insurance were faced with medical bills from a serious illness in excess of thirteen thousand dollars. And they thought they were insured!. It was much worse for cancer patients. Their uncovered bills averaged nearly thirty six thousand dollars. These are sobering, frightening statistics.
Let's suppose, If you or one of your loved ones is suddenly stricken with a major illness or you were seriously injured, the last thing you need is a mountain of debt that can wipe you out financially. When I was shopping for health insurance coverage recently, my agent told me something I should have known all along. He said that you buy health insurance to protect your assets. He's right of course. I just never thought of it that way. Have you?
http://www.UmerInsurance.com - This is a site where you can learn almost everything related to Insurance and you can also learn almost everything on it's types.
but if you only want to read more about the above thoughts then you need to work with this link.http://umerinsurance.com/?p=17
Article Source: http://EzineArticles.com/?expert=Umer_Hayat
