Why Getting Insurance Is Important For People Who Have Chronic Health Conditions

Why do people need insurance? Today, many people still forego getting an insurance policy, simply because they feel like it’s an additional burden to pay for. The budget just doesn’t fit, or there may be other contingency measures that need to be prioritized. But, all things considered, you do need insurance as it’s a very important safety net to have.

The main point of having insurance is protection. Whenever uncertainties arise, it’s natural to want to feel at ease knowing that you’ve got an umbrella of protection around you, particularly when it comes to your finances. Especially for those who are also suffering from illnesses such as chronic health conditions, these can be recurring problems for life. Without insurance, you’ll end up being burdened by the pain of having to pay your medical bills all by yourself.

To start with, what are chronic health conditions? These are diseases that can persist in a person’s life for a relatively long time. Generally, these can happen for three months or longer. Adding up to this is how these diseases are also incurable by conventional vaccines, and neither can they get treated simply by medication per se, or disappear by themselves. You’ll need the utmost medical care, which can be costly.

With this in mind, it’s now easy to see that making that one small but significant change in your life in the form of having an insurance policy greatly helps. It enables you to have the best care possible for your condition while also alleviating your worries. You don’t have to stress about your health and the costs that come with it.

All that said, there are so many more reasons why having insurance is beneficial. This article tackles a few, so keep reading.

1. It’s Like Buying Safety And Protection

No one ever really knows when a health emergency will come. While you may strive and hope for no crisis to come at all, this may be unavoidable in some cases. You’re bound to go through a health care one way or another, especially for those who already have underlying chronic health conditions, to begin with. For you to be prepared for these health contingencies, you have to be ready with insurance coverage.

Supposing your chronic health condition worsens, and you’re hit for at least three months. Without insurance, that means you’ve got no other choice but to shoulder the expenses by yourself, from your own pocket. When this happens, you’re subsequently draining your budget. Even when your health has already recovered, you may still be suffering the financial consequences that the past months have brought about.

This armor of safety and protection becomes even more critical for those who already have underlying chronic health conditions, such as diabetics. In addition, these include patients who also have arthritis, oral health problems, cardiovascular disease, IQ problems, cancer, obesity, and epilepsy. Melissa Thompson of Diabetes Life Solutions states ” many people with Diabetes, or any other chronic illness have a misconception that they cannot qualify for life insurance coverage.  Several insurance companies will underwrite a person  who may be a sub-standard risk.  In reality, a person will most likely pay higher premiums if living with Diabetes, but they can usually obtain coverage.

2. It Opens You Up To More Lenders

Supposing that your insurance isn’t enough to cover your current medical expenses—what do you do and where do you run to? Perhaps your savings may not even be enough either. In these cases, most people will choose to go for lenders. These are institutions, both banking and not, that allow individuals to borrow money in exchange for interest.

But, unfortunately, there are instances when the lender also won’t allow you to borrow if you don’t have insurance. These mortgage lenders are merely protecting themselves, too. Hence, without insurance, it’s going to be so difficult for you to get the funding that you need.

3. It Secures Your Future

At present, you might be financially stable. You’ve got a steady job that provides a good income for you and your family. Cash is regularly coming in every month. You’re also able to put in a certain percentage in your savings account.

But is this enough? What will suddenly happen if your chronic disease hits? Are your savings enough to cover not just the present but also the future? When disease strikes, you might not be able to report to work as you usually would. Without any income coming in, how will you and your family survive? More so, if you’re the sole provider in the family, how can they manage without you?

These are fears for the future that every person should reasonably think about. In securing oneself and their respective families, don’t just consider the present. Be sure that you’re also looking ahead, into the future. With insurance, you’re assured that your family will still be alright should your chronic health condition worsen.

Securing your future and that of your family is even more critical for individuals living with chronic illnesses. If you don’t have one yet, here’s a list of risk factors that should convince you to take out an insurance policy now:

• Individuals who are at least 65 years or older
• Regular smokers
• Those with poor eating habits
• Those who lack physical activity

4. It Grants You Peace Of Mind

When you’re already sick, to begin with, do you have enough peace of mind to help you feel that you’re going to be okay? The mental health of an individual has a lot to do in helping them recover or find a cure for their diseases. No matter how good your treatment plan may be, your mindset in believing that you’ll heal and recover plays a vital role. Stress can, in fact, significantly affect your chances of recovery as it can only make you feel sicker and weaker.

But when the bills start piling up, and you know you don’t have any means to pay for them, how do you even experience any peace of mind? With rising medical costs, you’re more likely to live with so much worry and stress about how you can get by. With this comes the importance of health insurance that will provide for all of your medical and healthcare costs.

Working hard to provide for your family should also entail working toward your peace of mind. No matter what you’ll face tomorrow, having insurance coverage can alleviate your fears and help you get by.

Having peace of mind is all the more necessary should you start to experience the following symptoms of chronic health disorders:

• Pain, fatigue, and mood changes
• Changes in self-appearance
• Depression and anxiety
• Reduced range of motion and physical activity

5. It Protects Your Greatest Asset

When you put everything else aside, such as your material wealth and assets, ask yourself, what is truly your greatest asset? The answer is simple: yourself. Everyone has just one chance to live their lives here on earth, which is why you should strive even harder to protect your life. If you can afford to spend thousands on insuring your car and your home, then it’s only reasonable that you do the same with your health.

Getting insurance means protecting oneself, especially when a health condition hits you. This can be especially important when you’re also raising young children who are highly dependent on you. Should anything affect your health, you know that this can significantly affect everyone around you. Everything else that you own or the job that you have will all be useless when you can no longer live to enjoy the fruits of your labor.

Part of living a longer life is obtaining good healthcare when you need it. If you fall sick, don’t take it for granted and see a doctor as soon as you can. That way, you’re reducing the risks of your chronic health condition from worsening. When you’re working, and have a stable job, don’t just invest in material or tangible assets. Remember to invest in yourself, too.

6. It Encourages Savings

The kind of insurance that you have might also help encourage you to save more. When you’re suffering from a chronic health condition, you can’t take any chances with your health. While you’re still able to earn or report for work, taking out an insurance policy is going to encourage you to save rather than spend your hard-earned money on useless expenses. Instead, you’ll be forced to allow a specific amount to your monthly insurance premiums.

Even when you don’t have any savings right now, an insurance policy can cover for the expenses that you might face should your chronic health condition worsen. In paying for premiums, you are spending your money on a contingency plan that can help you when you find yourself in dire straits.

7. It Reduces Stress During Difficult Times

For some people, their chronic health conditions are more manageable than others. Some recover better, while others, unfortunately, succumb to the disease. In these challenging times, it can’t be denied that keeping your mind focused and away from stress is of utmost importance. This can also be applicable not just to you but also to your family and even your primary caregivers.

With insurance in place, the level of stress you will face will be significantly reduced. Since you don’t have to worry now about the financial part of healing, you can focus on the recovery itself. That way, it’s easier for you and your family to rebuild your lives from scratch once you also start to get better.

When you’re suffering from chronic health conditions, common stress factors include the following:

• The inability to maintain a positive self-image and confidence
• The failure to deal and live with the adverse physical side effects of the illness
• The inability to maintain emotional balance in the body, so that you can cope with the disease
• The stress of also dealing with the negative side effects of the treatment

8. It Manages Risks

Putting off treatment for your chronic disease because you’ve got insufficient funds to pay for it won’t do anything good for your body. In fact, you’re only worsening your condition. In many instances, this puts you at a higher risk of being unable to manage whatever adverse effects your condition is going to bring into your life.

Chronic health conditions can be disabling, physically, emotionally, and even financially. For some, it can remove them from their jobs, halt their businesses, stop them from enjoying hobbies, and significantly impact their family lives. Chronic disease can affect every aspect of a person’s life. Of all these effects, however, finances and employment take the biggest blow. With dwindling health, it will be hard for a person to function properly during work hours, or conduct their businesses efficiently. Thus, this can affect their state of employment and, ultimately, their source of income.

Remember that uncertainties in life, whether that involves one’s health or general well-being, are often the most difficult challenges faced by a person. When you don’t have to worry about the financial expenses that chronic health conditions entail, risk factors are also better managed. You may not even have to experience going through the worst of chronic diseases. Having an insurance plan can help alleviate all the risk factors that you may experience due to the inability to have the appropriate care for your medical condition.

9. It Provides Financial Stability

Yes, you’re financially stable now. But how long will your savings last you? Just because you’ve got money saved in the bank today doesn’t mean that it’s going to be enough in case of an emergency. This is especially true when you already have an underlying medical condition. Chronic health conditions, as mentioned, can last for months. Hence the need to ensure that you can financially keep up with these treatments.

Should a medical problem arise, you’ll want to be able to keep the same level of financial stability that you already enjoy. Watching your savings go down the drain will only cause you to worry, but having insurance can mitigate this. When a medical problem comes, all you have to do is focus on the treatment itself since your bills are already covered.

Conclusion

Buying insurance is like buying a form of security or promise that can assure you’ve got coverage should an adverse event happen regarding your health. While it may often be difficult for anyone to assess the value of insurance, it’s worth noting that despite the cost of obtaining one, the returns you can gain in the future are far greater. It’s an investment not only for today but also for the future. Those mentioned above are only a few of the reasons insurance truly matters. Now that you’re better informed, consider getting insurance if you don’t have one already.