As devastating as it may seem to even think of it, you could be saving just so you can pay for a catastrophic illness. Most people ignore the fact that it could even happen to them.
I have something to tell you that you may not know. A critical illness does not discriminate. No matter how hard we try, it is something we just cannot avoid. You can do everything right and you could still fall into the percentages of developing a critical illness.
Let me run something past you, so listen up...
You work hard and save. No wait, you slave so you can save. You complete your due diligence with your financial advisor to invest in order to make your money go further. Life couldn't be any better, right? And then it happens...
Out of nowhere a catastrophic illness strikes! You do everything you can to stay alive, including taking off work for the treatments and rest. You start draining your investments to make ends meet. The health insurance you have pays for the medical bills. Then you take off more time just so you can keep fighting the fight. Now you are about a month behind on your bills because you used up all available paid time from your employer. You decide it's the right thing to cash out on more of your retirement to catch up. Your employer meets with you and tells you that they feel bad for you but they will have to fill your position because they have a business to run and need the man power to service their customers. Once you get better you can come back full time.
Was that music to your ears? I think not.
The company offers you COBRA for your health insurance... at a hefty price! You cannot give up your health insurance. What if you get worse or something else happens? You hang on by a thread to keep it. So now you withdraw all you can to pay your premiums and play catch up on your bills at home. It seems this nightmare will never end.
I think you see the pattern here. Eventually you run out of money, no health insurance because you couldn't afford it and up a creek without a paddle. What's next?
In conclusion: Most people insure what's important to them... Cars, homes, jewelry and your life! The general population forgets to insure their number one asset, their ability to work. The price is a fraction of what it will cost without proper protection. If you do not insure your ability to work, everything else in life just will not be the same.
To your health,
Butch Zemar
http://www.EliteBenefits.net/