We seal our roofs on sunny days, so we do not have wet homes on the rainy days. That is good advice for anyone, but sometimes it comes too late. Sometimes our preparations are not enough. When accidents or illness catch us off guard, it can be difficult to know just where to turn. We suddenly realize how expensive medical care can be and how difficult life can be when we are no longer free to move, work, and live the way we did before. Life changes like that mean reevaluating our budgets and sometimes we run short of covering all the new bills. Where do you go and what do you do when disaster strikes?
Insurance Policies
Health insurance has been one of the biggest topics of discussion for the past few years, so I find it unlikely for anyone to have a health insurance policy and not know it. That should be the first place you check when it comes to illness or injury. While you may know you have a policy, you may not know the specific details of it. Here are some important questions you need to ask your insurance provider.
- Does this policy cover this illness or injury type?
- What health care providers are “in network” and provide care at a lesser cost to you?
- What kind of financial or time limitations exist for this policy covering this accident or illness?
- What kinds of things (medication, rehab, etc.) are not covered by this policy?
If there is a death involved, it is also important to check out your life insurance policy. They often provide the opportunity to have the amount delivered in a lump sum or spread across a number of payments. It is important to remember that any life insurance money you receive will be counted as income and you will be required to pay taxes on it. Find out more about health insurance here.
Workers’ Compensation
The next place you should look when accidents or illness occur is to your Workers’ Compensation program. If you are ever injured at work it is important to report it, no matter how small you think the injury is. Small cuts and scratches, if not treated properly, can become infected and put you into the hospital for days. This is especially important if you work around any hazardous materials or health risks. Nursing staff, for example, cannot afford to have any kind of open wounds while working with patience who carry viruses and bacteria that may infect them.
With the stories of shootings in schools, churches, and public centers today, there are likely to be new interpretations of Worker’ Compensation policies. For example, if a person shoots at your boss and you are hit accidentally, you may be eligible for Workers’ Compensation. However, if someone attacks your co-worker for personal reasons and you are harmed in the process, you probably will not be eligible for Workers’ Compensation. It is important to know what qualifies and what does not, and you will not know unless you ask.
Workers’ Compensation does not cover all illnesses or injuries suffered on the job, but it covers many of them. Additionally, if your doctor tells you your illness is job related, it is important to report that as well. You will not know what kind of support you may receive if you do not report your injury or illness and find out. Find out more about Workers’ Compensation here.
Good Quality Loans
Insurance and Workers’ Compensation are important places to check when you face illness or injury, but sometimes they have nothing to offer. Other times the support they can give will not arrive in time to meet your needs. A third option you have is to take out a loan to cover your medical or related needs.
Your access to loans is often dependent upon your Credit Score. People with good credit scores are those who have borrowed money in the past and paid it back on time. This may include car payments, mortgages, or student loans. If you have a good credit score, you have more access to loans through banks, credit unions, and other financial institutions.
There are two types of people who have bad credit scores. The first type is people who have never taken out any loans before. There are not many people anymore who fit this category, but if you have recently moved from another country you may have trouble getting loans from some of the bigger financial institutions. The second type of person that has bad credit is a person who has lots of unpaid debts, late fees, or has ever filed for bankruptcy. It can take years for a person to work themselves out of this kind of bad credit, and many financial institutions want nothing to do with people with bad credit scores and bad credit history.
There are plenty of loan businesses that will offer money to those in desperate need, but the interest rates are usually much higher and often they demand repayment in a shorter amount of time. They are not all equal in quality, service, or loan specifications either. To find out more about your local loan providers check out LoanReviewHQ.com
You will be best served to seek out loan services that fit your credit score and in amounts that you know you will receive soon. It is wise to seek out budgeting help to help you cut your costs where possible, and enable you to pay off your loans more quickly.
It is best to educate yourself about getting help in case of accident or injury before it actually happens. However, that option is not always open to us. Accidents happen everyday and illness often strikes without prejudice. Do you know what you will do if it happens to you?
