Join me @ IBOtoolbox for free.
Eric Wilson
Member Since: 2/7/2018
  
performance / stats
Country: United States
Likes Received: 139
Featured Member: 0 times
Associates: 280
Wall Posts: 373
Comments Made: 125
Press Releases: 308
Videos: 49
Phone: (815) 372-1363
Skype:    
profile visitor stats
TODAY: 5
THIS MONTH: 706
TOTAL: 56518
are we ibo associates?
active associates
Laci Kollar    
Last logged on: 5/23/2019


Louise Kinnear    
Last logged on: 5/23/2019


Eugenijus Sakalauskas    
Last logged on: 5/23/2019


Zakariyya Spain    
Last logged on: 5/23/2019


victor chukwuemeka    
Last logged on: 5/23/2019


Michael Gielfeldt    
Last logged on: 5/23/2019


Lisa Smith       
Last logged on: 5/23/2019


Velma Joseph     
Last logged on: 5/23/2019


Susan Ross    
Last logged on: 5/23/2019


Jr R Nahan    
Last logged on: 5/23/2019


Bob & Shirley Rushing    
Last logged on: 5/22/2019


Lawrence Bergfeld    
Last logged on: 5/22/2019


Arlene Dovichi     
Last logged on: 5/22/2019


Joe Coon    
Last logged on: 5/22/2019


Stephen Adams     
Last logged on: 5/22/2019


other ibo platforms
Eric Wilson   My Press Releases

WHAT IS MEDICAL BANKRUPTCY AND HOW CAN WE AVOID IT?

Published on 10/1/2018
For additional information  Click Here

According to a June 2009 CNN report, 62% of all bankruptcies are related to medical bills. The American Journal of Medicine reports that half of those filings were middle-class, well educated, homeowners.  The CNN report goes on to say that three-quarters of the medically bankrupt had health insurance at least for part of the time they had their illness.

What causes medical bankruptcy, if you have medical insurance?  There are several factors that play into this situation.  The first factor is if you have employer-sponsored health insurance, and you get sick and cannot work, you lose your job.  If you lose your job, you lose your health insurance.  This seems to be one of the fundamental flaws with our health care system is that we are dependent on our jobs for our health insurance.

Another factor, which might be even a bigger problem, is that if you cannot work, how do you generate your income?  You still have to pay your mortgage, your car payment, and utilities.  Even if your insurance paid 100% of your claim (and you always have deductibles and co-insurance), you still have bills that require payment.

Often times, a spouse has to take time off of work to take the ill family member to doctor visits or therapy.  This yields an additional loss of income.

Sadly, we are all participants in the healthcare system.  How can we ensure ourselves and protect our assets if we are to get sick to the point, in which we could not work?

The answer might lie in one of these products.  Critical Illness, which pays the insured directly up to a flat amount (usually $10,000-$50,000) of money if you were to have a specified illness such as cancer, heart attack, stroke, severe burns or loss of a limb.  Critical illness is to be used in conjunction with a major medical plan.

Another solution which is becoming very popular is life insurance with living benefits.  These policies will allow you to use part of the death benefit (again for specified conditions) while you are alive to pay for the cost of care and replace income.

Unfortunately, we are all one illness away from financial ruin.  Fortunately, there are products out there to help us prepare.

Member Note: To comment on this PR, simply click reply on the owners main post below.
-  Copyright 2016 IBOsocial  -            Part of the IBOtoolbox family of sites.