Community rallies around community Dad waging cancer battle. This story appeared in the local newspaper earlier this week. It is amazing how helpful we can be when others among us need a little assistance. Good for the contributors.
You will notice that the Go Fund Me campaign aims to raise $10,000 to help the family. Accommodation for wife Ashley near the hospital in Toronto, help with lost income as she has been off work since August to support Mike. Routine expenses add up.
“My husband is my hero and best friend and it kills me to see him go through this and to see our kids hurting.”
New realities come with new problems. Sometimes you cannot get back to where you were, but with help you can avoid many of the shortfalls.
An earlier fundraiser “helped the family pay for rent, heat, hydro, food and gas and helped the kids enjoy Christmas”
Life is not perfectly fair. Bad things happen to good people.
Most of the time people will deal with the potential problem if they know how. A person who knows about the possibility and seeks ways to minimize the impact will discover insurance against sickness and accident. You can decide if it is worth the price.
- For a 30-year-old male, $2,000 per month of income starting after 90 days of sickness and continuing for 5 years can be had from a large, responsible insurer for less than $30 per month. Plan design is flexible and can fit your particular circumstances. Many people know about and ignore this kind of plan.
- Many other people don’t even know about another useful plan. Critical Illness insurance. It pays a lump sum after diagnosis of certain serious conditions. Coverage for cancer, heart, and stroke, like Mike’s case, is available inexpensively. $50,000 payable in a lump can be had for a premium of less than $15 per month. Other options could add to the cost.
Mike’s case demonstrates that living without your income is harder than living within it. New costs attach to illness that many people do not know about. They are a burden at a bad time.
The ability to earn income is your largest asset. You should protect it. Many people don’t know that they can protect themselves from this sort of problem. They can be forgiven for lacking the insurance. Everyone eventually discovers that money won’t fix the problem but it does provide some options.
Now that you know about it, it would irresponsible to do nothing. Call me or talk to a professional insurance agent in your neighborhood.
Don Shaughnessy is a retired partner in an international public accounting firm and is now with The Protectors Group, a large personal insurance, employee benefits and investment agency in Peterborough Ontario.
Contact: firstname.lastname@example.org 705-748-5181