Q&A: Who needs insurance?

Zoomer | May 21st, 2009

Question: I am a 62-year-old single female, with no dependants and own two businesses. I have health and dental insurance which is very costly. If I am well, and I am, why would I still need this coverage? – Jean W


Gordon Pape answers: Nobody likes paying insurance premiums – until they get sick and need to make a claim. Then they’re thankful they have the protection.

It sounds like you have been fortunate, health-wise, but how do you know what will happen tomorrow? You don’t and neither does anyone else, which is why we pay for the coverage. In the end, it’s your call but if you decide cancel your insurance I suggest you start to build a personal health fund to cover any unexpected expenses down the road.

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