Most of you wouldn't gamble your valuables, your homes, or your families. But when you're not prepared for dramatic changes that may affect your health, you're gambling that you'll always have enough income to take care of the most important aspects of your life.
Sadly, many people lose this bet. Accidents and critical illnesses can strike at any time. And when they happen, the impact on lifestyles and finances is usually staggering.
What are the chances of you needing extra care? A quick view of some recent statistics shows how often Canadians face serious health challenges:
Every 10 minutes, a person has a stroke in Canada.
39 per cent of women and 44 per cent of men will develop some form of cancer. The good news is that cancer survival rates have increased significantly in recent years. The bad news is that all will require some level of care during the treatment phase of the illness.
Major illnesses such as Multiple Sclerosis, ALS (Lou Gehrig's disease), Parkinson's Disease or Alzheimer Disease are life-altering experiences for the individual, family members, and friends who may be called on for support. Alzheimer's and other dementias affect 1 in 9 people between the ages of 75 and 84, and 1 in 3 over age 85.
Falls and accidents among older Canadians are a leading cause of the growing number of elderly people in long-term care facilities. About 25,000 hip fractures occur in Canada every year, causing death in up to 20 per cent of the cases, and disability in half of those who survive.
You might want to ask yourself the following questions about your financial security:
How long could you afford your mortgage payments and regular bills if faced with a major medical emergency?
How would you meet extra expenses for medical equipment or medications not covered by your health plan?
Who would care for you, and for how long, if you became incapacitated?
If you can't answer these questions with confidence about the outcome, you need to increase your health insurance coverage. Studies show that removing financial stress at a time of serious illness improves survival rates. Health insurance does just that. It can provide security and financial stability during times of rapidly shifting priorities and worry.
Some of the available health insurance plans that can help get you through those worrisome times:
Critical illness insurance provides a lump sum benefit to the insured if they are diagnosed with one of the covered illnesses. The benefit can be used to pay down debt, such as a mortgage, or pay for care or treatment, or to cover the costs of home renovations to make wheelchair access possible.
Long term care insurance provides weekly payments if the insured is unable to do at least two out of six daily living activities (bathing, dressing, eating, toileting, continence, moving to or from bed or chair) or if they suffered from a senile dementia. An income plan allows the recipient to choose how the benefit is spent. Personal health insurance offers a preventative approach to medical and dental coverage. It's perfect for the self-employed, contract or part-time workers or for those without group insurance. Professionals and small business owners can realize tax advantages by having plans for themselves and their employees.
The average health care costs for Canadians increase as they reach their 60s and continue to climb as they get older. Medical advances are increasing life expectancy. As our population ages, there will be fewer working Canadians to support a larger retired population. As a result, the costs of health care will likely increase.
It's important that you assess your needs and all the health insurance options available before making any decision. Investing in health insurance will help offset financial hardship and bring peace of mind that will enable you to enjoy your future to the fullest.
Sources:
Heart and Stroke Foundation of Canada, Annual Report 2004.
Canadian Cancer Society, 2007
Alzheimer Society of Canada, 2007
Osteoporosis Society of Canada, 2007
Monday, September 28, 2009
Wednesday, September 9, 2009
Life is unfair
Holy crap! What is going on out there?
I just got off the phone with my partner Tracy to learn that the coordinator for the Vancouver relay for life just died. 41 yrs old, died in his sleep!! Heart failure. I can't even imagine what his family is thinking.... my heart goes out to them.
Another one to share.. My brother calls me this week to tell me that his best friend from grade 8 died as well. 35 yr old died of a heart attack! What is going on here? He has a spouse and young children. An entire life ahead of him, taken away... His family must be devastated.
I am concerned for my brother, who is overweight and does not eat the best. Our dad died recently of a heart attack at 68yrs old. Still way too young when the average life expectancy of people is roughly 76 yrs old.
Then I hear on the radio last night that 3 out of 4 kids are not getting enough exercise! Are we going to be hearing of teenagers having heart attacks?
It is no secret, I believe that everyone needs to take responsibility for themselves. Be responsible! Eat well, rest, exercise, go for check ups especially if you think you are predisposed to a certain condition. Somethings you just can't control. And you know what else? Think about your family, should you have died yesterday, or heard bad news from the Dr that you are unwell..... how will they manage? Will your kids have to struggle to go to University? Will your spouse need to sell the house? Work 3 jobs to support the family? Or maybe the better choice would be able to grieve at their own time without financial stress?
I cannot tell you enough that you just never know what will happen tomorrow.. you can control what you do today. Don't believe in life insurance? Ask your family what they would rather face? Imagine how they will feel if you just never got around to it... I'll do it later, but later never has a chance.
Hate to do this, and I'm not one to use fear as a way of educating the importance of insurance, however after hearing of these 2 scenarios I feel there is no other way.
Do you know that there are cost effective ways of insuring your life and protecting your family without breaking the bank?
My sincerest regards to the families that have lost loved ones. I know how painful it can be.. no matter how young/old they are.
Much love,
Karen
I just got off the phone with my partner Tracy to learn that the coordinator for the Vancouver relay for life just died. 41 yrs old, died in his sleep!! Heart failure. I can't even imagine what his family is thinking.... my heart goes out to them.
Another one to share.. My brother calls me this week to tell me that his best friend from grade 8 died as well. 35 yr old died of a heart attack! What is going on here? He has a spouse and young children. An entire life ahead of him, taken away... His family must be devastated.
I am concerned for my brother, who is overweight and does not eat the best. Our dad died recently of a heart attack at 68yrs old. Still way too young when the average life expectancy of people is roughly 76 yrs old.
Then I hear on the radio last night that 3 out of 4 kids are not getting enough exercise! Are we going to be hearing of teenagers having heart attacks?
It is no secret, I believe that everyone needs to take responsibility for themselves. Be responsible! Eat well, rest, exercise, go for check ups especially if you think you are predisposed to a certain condition. Somethings you just can't control. And you know what else? Think about your family, should you have died yesterday, or heard bad news from the Dr that you are unwell..... how will they manage? Will your kids have to struggle to go to University? Will your spouse need to sell the house? Work 3 jobs to support the family? Or maybe the better choice would be able to grieve at their own time without financial stress?
I cannot tell you enough that you just never know what will happen tomorrow.. you can control what you do today. Don't believe in life insurance? Ask your family what they would rather face? Imagine how they will feel if you just never got around to it... I'll do it later, but later never has a chance.
Hate to do this, and I'm not one to use fear as a way of educating the importance of insurance, however after hearing of these 2 scenarios I feel there is no other way.
Do you know that there are cost effective ways of insuring your life and protecting your family without breaking the bank?
My sincerest regards to the families that have lost loved ones. I know how painful it can be.. no matter how young/old they are.
Much love,
Karen
Sunday, September 6, 2009
Family Ties
This week my spouse and child spoke to a class of nursing students at BCIT. This was our 3rd visit. The teacher invited us because she loved our story so much. I shrug my shoulders and think no big deal, it's our life.... until we start to speak.
The class is full of 2o something yr olds sitting quietly. We start by bringing up how me met, the adventure of travelling to Europe, moving out West with only a few belongings. Our friends/family thought we were crazy... and we were! We talk about how we got pregnant.. life is good.! Then we talked about how illness/death affected us, brought our family closer together and what we have taken from the journey. (remember there is a 3.5 yr old drawing pics on the wipe board and dancing around) Makes it very interesting.
This time, there seemed to be a lot of questions about our boy growing up with 2 moms. I forget that this is not the norm because it's a non-issue for us. Our boy has 2 parents that love him so much that just happen to be 2 women. He has a Grandma and a Grandpa, a Nana and a Papa, a Grammy Hawk and Granddad Mark.. all whom are not "blood" related, instead they are chosen family. Aunts, uncles, cousins, and tons of friends. There is no shortage of love and support for this child and any more we plan to have I can assure you.
I know that in 45 min we made an impact on these kids. They will be slightly more prepared when working with a patient in the future to be mindful of families of all different kinds. As they build families of their own, I hope that they too find a deep connection that will stay strong in any circumstance. That they will also find a spouse that is loving, supportive, respectful. Be able to build strong friendships, and networks of people that they can count on. I am very grateful for the people I have in my life! I only wish the same for everyone else.
We always want the best for the people we care about the most. We expect the best life possible, unfortunately (and I know what that means) life can throw curve balls at us. That is why I have chosen a career that helps you always put your family first, no matter what.
After you read this, go give someone a hug! Cheers :)
Karen
The class is full of 2o something yr olds sitting quietly. We start by bringing up how me met, the adventure of travelling to Europe, moving out West with only a few belongings. Our friends/family thought we were crazy... and we were! We talk about how we got pregnant.. life is good.! Then we talked about how illness/death affected us, brought our family closer together and what we have taken from the journey. (remember there is a 3.5 yr old drawing pics on the wipe board and dancing around) Makes it very interesting.
This time, there seemed to be a lot of questions about our boy growing up with 2 moms. I forget that this is not the norm because it's a non-issue for us. Our boy has 2 parents that love him so much that just happen to be 2 women. He has a Grandma and a Grandpa, a Nana and a Papa, a Grammy Hawk and Granddad Mark.. all whom are not "blood" related, instead they are chosen family. Aunts, uncles, cousins, and tons of friends. There is no shortage of love and support for this child and any more we plan to have I can assure you.
I know that in 45 min we made an impact on these kids. They will be slightly more prepared when working with a patient in the future to be mindful of families of all different kinds. As they build families of their own, I hope that they too find a deep connection that will stay strong in any circumstance. That they will also find a spouse that is loving, supportive, respectful. Be able to build strong friendships, and networks of people that they can count on. I am very grateful for the people I have in my life! I only wish the same for everyone else.
We always want the best for the people we care about the most. We expect the best life possible, unfortunately (and I know what that means) life can throw curve balls at us. That is why I have chosen a career that helps you always put your family first, no matter what.
After you read this, go give someone a hug! Cheers :)
Karen
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