What value to do you give it?
If you knew you had a 7 out of 10 chance that an illness would destroy the financial security of your family how much would you set a side on a monthly basis to protect your family? Would you set a side $50, $100, $200 or more? How do you know if it's worth it?
This is a challenge we all currently face. The truth of the matter is that the statistics are staggering. 7 out of 10 of us will have a heart attack, stroke, or cancer before the age of 65. What's worse is that most of us won't make the smart decision to protect our families from the financial burden that will occur from that tragedy. Instead, we make excuses like...
The economy is bad and money is tight we just don't have enough funds.
While this maybe true, but how bad will it get when you add hundreds of thousands of dollars of debt on top of an already bad situation? According to a recent article posted by CBS news, which cited a statistic from the National Business Group on Health, the average cost of a severe heart attack is about $1 million dollars and a less severe heart attack cost $760,000 on average. Do you think health insurance covers all of that? If so, think again.
Most health insurance plans only cover 70%-80% and at $1 Million that still leaves you on the hook for $200,000 to $300,000 in medical bills. So my question to you is if you can't afford $50 or $100 a month then how can you afford $200,000 to $300,000 in medical bills? Most will file bankruptcy which will definitely make your families situation worse.
Paying off current debt is more important.
Delaying necessary protection for your family to pay off all your non-mortgage related debt could take years or even decades. What if you don't have years or decades before tragedy strikes? There are many other strategies to help you pay off your high interest credit cards and debts but putting you and your family at risk for larger debts is not the best option.
There is plenty of time.
Maybe you are young and you feel you have plenty of time to get your finances in order. The reality is that when you are younger is the best time to start. When your young you can lock in really low costs that will continue to remain low. You may also be shocked to find out that the average age of a major critical illness claim is only 43 years old according to AXA a major insurance company. Would you be shocked to know that the average age of a bankruptcy was 38 years old and that 60% of those were due to medical bills? How about if I told you that 78% of those medical related bankruptcies actually had health insurance. So you see there is not plenty of time and it can only be considered protection if you act on it before you need it.
So again, I ask you what is your family's financial future worth to you?
In most cases our representatives can show you ways to purchase this protection without increasing your current budget. Don't worry you won't be bombarded by bunches of pushy sales people or pressured to buy something you don't want or need. We guarantee a free no obligation review with no sales hype!
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