Life is not always fair or easy; I know I can contest to that. But we do what we need to do and always try and do the best we can. When I had my first child, I made sure I took Life Insurance out on myself. I wanted to know that if something was to happen to me that my son would be taken care of. When I had my daughter I changed my policy and upped the amount. Well a few years ago, I had to drop my life insurance and also my husbands. He was let go from his job, and all our benefits went with it. Fast forward two years and my husband and I now have new Life insurance policies, and we know our family is protected in case something does happen to one of us.
In 2004, my dad passed away unexpectantly. My dad always kept up with his and my mom’s life insurance so when he passed, mom just automatically thought he had a Life insurance policy. Well, it came to be that dad accidently let his policy lapse, and he never got around to reinstating it. It was a terrible time for mom and us, we had to borrow money so we could have a funeral service for my dad. I vowed then that I would not let our insurance lapse, and I would make sure to have coverage so my family wouldn’t have to go through something like that. I know dad didn’t do it on purpose, life gets in the way and before you know it, life happens. Always make sure you check into your insurance, make sure everything is up to date and all your premiums are paid. This goes for all your insurance needs, life insurance, accident plan, cancer plan, hospital plan, critical illness plan, short-term disability plan.
For most U.S. companies, fall marks open enrollment season, a time when workers can review their employer-sponsored benefits offerings and choose the health insurance policies that best meet their financial and health care needs. Although selecting the right healthcare benefits may be one of the most important decisions Americans will make all year, an Aflac survey found that many workers do very little research to learn which plans and products really work best for them. Did you know that 34% of employees spent 15 minutes or less researching their benefits options in 2014! WOW, insane. We need to make sure we have the right benefits for ourselves and our families. Those who don’t set aside time to research their insurance options often end up with inadequate health care protection for themselves and their families.
Not all insurance plans are the best for everyone. Today’s workforce is comprised of many different generations, including baby boomers, Generation X, Millennials/Generation Y and the incoming generation of workers known as Generation Z. Many of today’s families are also spanning more generations than in the past, which means one-size-fits-all benefits options aren’t enough anymore. Think of it this way, benefits options for the young, single employee are going to be significantly different than those for an employee who is supporting multiple dependents or facing more health issues due to advanced age. That’s where voluntary insurance helps since it allows employees to select voluntary policies that best suit their needs, as well as the needs of any dependents they may have.
Here is why you should consider voluntary insurance policies. When an unforeseen medical event happens, many people are often faced with paying copayments, deductibles or treatment costs not covered by major medical insurance, as well as other daily living expenses – all while paying increasing health insurance premiums. This leaves many people in debt or unable to take care of their health needs or the needs of their families! According to a recent Aflac survey, 66% of workers would not be able to adjust to the large financial costs associated with a serious injury or illness and 49% have less than $1,000 on hand to pay out-of-pocket medical expenses. Voluntary policies are specifically designed to help you pay for those out of pocket expenses that can be associated with an unexpected illness or injury. Think about this, if you or someone you loved was too sick or injured to work, wouldn’t you be more at ease knowing that the cash benefits can be used to help pay rent, gas, groceries, child care or any other out-of-pocket expenses that continue to roll? I know I would be!
Research your benefits this Open Enrollment season and find the right voluntary policies to help keep every generation of your family protected!
Head on over to Aflac and check out what they have to offer you!
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.