Feedback
Join Now | Sign in
My Healthline
Free Newsletters
 

Are You Really Covered? Health Article

Media Gallery

Insurance and Inflammatory Bowel Disease
Your Health and Your Insurance
Insurance Claim Forms: What Does the Fine Print Say?
Advertisement
Marketplace
Article from

Are You Really Covered?

You've seen the duck on television flapping his beak over supplemental health insurance. What he's quacking about is the remote but real possibility that you could be severely injured or die prematurely. As grim as it sounds, think it through: You and your family could be in trouble if you can't work. Below, SELF's simple plan primer.

DISABILITY. Gives: A percentage of lost income if you're temporarily or permanently disabled Who needs it? Unless you just won the last $300 million Powerball, you probably do, says Christina Povenmire, a certified financial planner in Columbus, Ohio.

What it will cost? Plans start at roughly $10 a month if you sign up through a group; individual plans vary widely but can begin at a few hundred dollars per year.

Long-term care. Gives: 24-hour care in afacility Who needs it? Anyone who prefers to play it safe.

"Generally, people don't think about long-term care until age 50 or 60," says Povenmire.

What it will cost? Anywhere from $10 a month and up, but the earlier you sign up, the cheaper it is.

Life. Gives: Your family a lump sum in the event of your death Who needs it? Anyone with a financially dependent spouse or children, says Povenmire. "It's most important to cover your debts and lost wages. Get a policy that will at least cover those.

"What it will cost? There's a big range, but expect to pay around $200 a year for $100,000 in coverage.

Get healthier!

Only 20 percent of women ages 25 to 34 are completely healthy, defined as having high energy, a strong sense of well-being and no chronic illness, according to a recent study. Don't fret if you're not one of them yet. Focus on what you can control: Take a yoga class, spend time with friends or walk with your dog!

Author Info: Karmen Butterer Saran
Published: MARCH 2003, SELF Magazine, The Condé Nast Publications
 
Advertisement
Back to Top