Recently I had some issues arise with my health insurance that could have resulted in my daughter and I losing our coverage. I have to admit that, to some extent, I saw not having health insurance as a relief because it could have resulted in a lot more take home pay for me! I have yet to use my health insurance this year, and really didn't see myself using it any time soon. For my daughter though, I had to cancel her upcoming 18 month check up/vaccinations until I got the issue resolved. Part of me really wanted to just let it cancel and keep the money so that I could buy some things that I normally would not have the extra funds to buy, and also further help my husband pay the bills.
It was pointed out to me, however, that even though nothing might happen between now and open enrollment in November, that something could happen. My daughter, Audrey might get sick, or injured. She is learning to climb now, and just imagine if she attempted to climb her swing set at home and fell and broke her arm. There is no way to prepare for those medical bills except to have health insurance.
That is why we have insurance-to be prepared for the things that could happen.
We are required by the government to have auto insurance. If you didn't have car insurance, and you had an accident, you alone would be responsible for the damages to your car(and possibly having to buy a new car) and injuries you incur. You may also then be sued for the vehicle damage and bodily injury to the other driver! That would bankrupt a lot of people. Tens of thousands of dollars. As it is, those of us who are following the laws of the land have car insurance that helps us to afford these costs in the case of an accident.
Homeowners insurance covers a huge variety of incidents from roof damage during a storm to a person injuring his/herself on your property. Imagine what would happen if you didn't have homeowner's insurance. Something would happen, and you would be hit with a bill or lawsuit for, again, tens of thousands of dollars-maybe even more.
Then there is health insurance. I am one of those people who skated by without it for a few years because I am young and healthy. Many people, in spite of the Affordable Care Act penalizing those without health insurance, did not enroll in health insurance because the penalty for not having health insurance is much cheaper than the annual premiums for having health insurance. However, they are playing a virtual game of chicken. Accidents are called accidents because they are unintended-they can't be planned for. Diseases and illness are out there, and you will never know when disaster may strike.
Part of growing up is learning to look ahead at the future and not focusing solely on the present. Mature adults know that planning and preparing for the worst is essential to not being a victim of chance. Life insurance becomes an important factor as you prepare for your loved ones in the inevitability of death, and the scary possibility of a sudden, unexpected death. Unfortunately, often people don't think about buying life insurance until they are very sick, or close to the end of their lives and then it can be much more expensive. Your untimely death could result in tens of thousands of dollars in debt and bills that your grief stricken family will now have to shoulder, unless you have a life insurance policy in place to help protect them.
All insurance policies do one thing-they help us prepare for the unknown. Insurance is the one thing that you buy, hoping you will never have to use. Its like a security system for your life. You hope the alarm never goes off; but when it does, you are so glad it was there to help protect you from the unknown forces of destruction in the world.
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