The real cost of being uninsured

The real cost of being uninsured -Life insurance, disability insurance, long term care insurance, if you are like most people, when your insurance agent starts talking about the coverage that you should consider, all you can think about is it going to cost you.and although this may seem the economy is getting better, many people are still struggling with the impact of the recession has had on their budget and what expenses they can put off until tomorrow.according to the study Barometer 2013 assurances, led by LIFE and LIMRA, the majority of consumers are concerned about the lack of money for a comfortable retirement, paying for long term care and fees next medical line in terms of worries-all legitimate questions.at the same time, it can be difficult to find the money to insure against a future event possible, as a major debilitating illness or accident when you are dealing with actual spending or face insufficient income right now. In such situations, it may be tempting to cross your fingers metaphorically and hope for the best, with assurance "treat later" list. But before you do this, you need to know the actual cost to be assured. Life Insurance Imagine you were to die today. Is your family able to pay your final expenses and continue to meet living expenses being without your income? or, if you are a parent who stays at home, would your partner be able to afford to pay someone to do all the tasks and responsibilities you handled? Qu ' is it long-term plans that your children can attend college or retirement spouse as planned? with adequate life insurance, your family will be provided when you are not there.and, depending on the type of policy you choose and option added to the diet, your insurance may be increased in value or, in the case of a terminal illness, provide funds to pay the bills even before you die you and your family for at least a major concern of relief.Worried about the cost of insurance? While the vast majority of under-insured middle-income consumers understand the cost as a reason for not buying life insurance, even when they believe they need, the reality is that most people overestimate how much roughly would be an insurance premium. For example, a life policy 20 years, $ 250,000 level term for a healthy 30-year cost of the actual annual premium of $ 150. Respondents felt that the same coverage for $ 350 to $ 500. Disability Insurance You do not need disability insurance, you think. After all, is not that workers compensation is for? Yes and no. If the injury occurs on the job, and Comp worker comes in. However, only 5% of disability claims are related and work, according to the Council to raise awareness of people with disabilities, about 0% of disabilities are caused by illnesses rather than accidents.For example, if you are diagnosed with cancer or sustain serious injuries in a car accident and are unable to work, it will be the source of your income? How will you cover your living expenses and the additional cost of medical care? In this scenario, half of American workers could not do a month before experiencing financial difficulties and almost a quarter would not allow a week, according to a study LIFE. With disability insurance, however, you have an alternative source of income to cover expenses until you are able to return to work. Fortunately, there are several options to get a disability insurance coverage. Click here to find out more. Long Term Care Insurance We would like to think that we will be able to live life on our own terms until it's time to go, but the reality is that two thirds of people will actually need some type of long-term care, either at home or in a facility. Where will it be money if you fall into this majority? Of Medicare or existing health insurance? Unlikely, given that Medicare only pays for doctor and hospital bills, Medicare only covers short-term skilled nursing home care, and Medicaid only play if your assets are very limited.Are your savings able to cover the costs? A home help care three days a week will cost more than $ 20,000 per year and full-time nursing care at home can be more than $ 78,000 per year.Maybe you think the long-term care is something that older people have to worry about. But everyone at any age can suffer an accident or a catastrophic injury that requires long-term care. In fact, 40 percent of patients receiving long term care are under 65For a complete overview of this long-term care insurance is click here and then contact an agent that specializes in long -term care insurance. The Bottom Line There are many factors to weigh when purchasing insurance, but be sure to have all the facts before making a decision. As you can see, both buying insurance and do not purchase insurance comes at a price. Be sure you know what the cost is, short term and long term.