From the course: Risk Management and Insurance Planning: Designing for Client Needs
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Introduction to health insurance
From the course: Risk Management and Insurance Planning: Designing for Client Needs
Introduction to health insurance
Our last chapter is on health insurance. This is likely the product you'll be most familiar with and maybe even had personal experience using. In our Financial Planning Principles course, we discussed how goals and objectives required cash to be used in ways that supported them. If a significant unexpected health expense were to come up, that same cash would have to be diverted from its original purpose to pay the unexpected costs. The result at best delays progress toward our financial goals. At worst, it can make our goals no longer achievable. In this chapter, our examples are based on the U.S. healthcare system, but the concepts we talk about apply to any country with nationalized healthcare, because even with the combination of employer group insurance plans and government subsidization, not all healthcare services are fully covered. In this situation, a financial planner can provide that same value add we have seen in our prior chapters. They can analyze your current health…
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