Various responsibilities are hinged on a responsible adult. We are lucky that we live in a time when we can plan long-term about our life. The predictability of the schemes we have with regard to life, death, and health planning are truly remarkable feats that we tend to overlook and take for granted. Thanks to ingenious persons, we can look ahead and prepare for events that most people rather not talk about.

Insurance initially started as a way of commerce. Insurance involves a person paying a premium for a chance to be reimbursed in the event of death, fire, legal liability for a specific person or property. Back in the day, cargo ships and other travels were insured for the investor to get reimbursed in the event that he or she lost his goods. Travels were much more perilous back then. Investors had reason to pool up money for sharing and distribute the risk of shipping the exported goods. It is said that the number of recorded shipwrecks since the 1600s dwarf the actual number of ships that have sunk in the entire existence of humanity.

We, as a species, have had so much bad experience with traveling by water that we have devised a way to mitigate our losses. Traveling by water is efficient and fast, but is very dangerous.

Insurance, as a concept, has crawled its way to the mundane lives of normal people. Now, people can opt-in for insurance to protect themselves from the risks of daily life. Any responsible adult will prepare for events that may or may not happen. Life, non-life, and even healthcare can be covered by insurance. The number of insurance companies in the United States may have dipped in the past few years, but the business has been so profitable for the remaining few that legislation is being drafted for and against it. Not having insurance opens you up to debt that can take decades to payout. Is that your preferred way of living?

In a country where insurance does not cover everyone, what are the perks of responsible long-term health planning?

Cheap Coverage

The first and most obvious advantage of having your life and your health insured is that it is a generally cheap way to have yourself protected from risks. By having insurance, you get to mitigate the potential costs of expensive hospitalization. It is fairly known that hospitalization in the United States is among the most expensive in the world. Because the country is not covered by universal healthcare, people find it expensive even just to hire an ambulance to take them to the hospital.

Millions live below the poverty line and cannot afford to get to a hospital at any time. Getting insurance while you can is a privilege not everyone can take advantage of. Insurance is easy and quick. You can also find ways to mitigate the amount you must pay out at a certain pre-arranged schedule.

woman breathing fresh air

Living Worry-Free

Worrying about the future is something you can take off your mind upon planning long-term about your health. Every person born gets sick. Sadly, everyone dies as well. Planning long-term about your health involves planning for inevitable events that will happen to you and your loved ones. It rigorously protects your and your loved one’s wealth from sudden and unexpected expenses.

Planning for the long haul involves getting up to speed with your sudden death insurance, emergency hospitalization expenses, and property accident insurance. You wouldn’t want to leave your family without anything when you pass away. It will make you worry less about the future if you are at peace with what you can give them in the event that the inevitable happens.

Funeral wishes and arrangements can be added to the insurance to ensure that your body is taken care of the way you want even after you pass on from this life. Some arrangements may also be made to help your family still get something even after you have already moved on.


Lastly, insurance can provide life to your long-term savings. Many insurance plans have premium payouts at the end of the lifetime of the plan. This will force the users to apportion certain amounts of their incomes directly to become savings in the form of insurance. It is worth noting that life insurance plans usually have a pull-out period after a certain time to fully compensate the insured with the premiums he or she paid. In a way, the insurance doubles as a savings account.

Responsible long-term health planning is part of being an adult. We have to prepare for the worst things life can throw at us. With a little sacrifice, we can maneuver our way out of the debt trap, which can put you in a hole for several years.

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