Health and life insurance

Health and life insurance

Uninsured Add $900 to Health Premiums

MSNBC: "Health insurance premiums will cost families and employers an extra $922 on average this year to cover the costs of caring for the uninsured, according to a report released Wednesday. With the added cost, the yearly premiums for a family with coverage through an employer will average $10,979 in 2005, said the report from consumer group Families USA... its study shows the problem is not restricted to the tens of millions of uninsured Americans. Rather, the problem affects everyone, because the insured subsidize the cost of care given the uninsured."

Why You Should Purchase Life Insurance

Most people buy life insurance because they care deeply about another person or people and they want to make sure the loved ones left behind are taken care of financially. When you die, there will be an emotional loss felt by loved ones. An economic loss on top of the emotional loss is an unbearable combination and one that families should not have to experience.

When you purchase life insurance, you are preventing the financial loss others would occur upon your death. I’m not claiming that the following story is the reason I have chosen life insurance sales as an occupation, but it is a perfect anecdote for this topic.

When I was thirteen years old, my father passed away from a sudden heart attack. He was survived by myself, my two brothers (ages 8 and 16) and my mother. Naturally, the emotional loss was devastating to us as a family. The emotional loss was compounded by the financial loss caused by an inadequate life insurance policy. My father, who loved us dearly, only had a policy that barely paid the funeral expenses.

My mother, who had been a stay-at-home mom for sixteen years, now had to somehow support three young sons. To say life was difficult would be a gross understatement. If my father had purchased a sufficient amount of life insurance, the emotional loss would have been the same but we would have been able to properly mourn the loss of a loved one without having to deal with the prospect of financial ruin.

I hope this story inspires you to purchase an adequate amount of life insurance to protect your family from potential financial loss.