Insurance, Buy Or Not?

I used to think that insurance was a waste of money until I saw what happened to Christopher Reeve.

Here was a genuine movie star, a guy so fit and healthy that he literally embodied Superman. Then, in 1995, he fell off a horse and broke his neck. In an instant, everything he had done with his life up to that moment – and everything he was looking forward to doing in the future – all disappeared.

Today, though he still works in the movie business, Reeve is better known as a tireless advocate for the disabled. Through his Christopher Reeve Paralysis Foundation, he raises millions of dollars a year to support research aimed at finding more effective treatments and possible cures for spinal cord and other catastrophic injuries.

Reeve also endorses insurance. “I know all too well how quickly a person’s life can change and the importance of ensuring a family’s financial security,” he says. “That’s why I’m troubled by the fact that 60% of Americans lack any form of long-term disability insurance. That’s far too many people at risk.”

Reeve is right. Without sufficient coverage of insurance, you are playing Russian roulette with your income.

Consider the following statistics. In one year…
• One out of every 106 people will die.
• One out of every 88 homes will catch fire.
• One out of every 70 cars will be involved in a serious accident.

But…

One out of every 10 people will have to cope with a severe disability!

If you buy insurance or not, in the end someone will pay for it.

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