|"It's impossible. I have too many expenses.
There's no way I could afford that much insurance."
|An HMO is contractually obligated to provide you with medical care;
buying life and disability insurance from them simply makes them more interested
in keeping you healthy. While someone with a smaller policy may not
interest them as much as a person with a six- or seven-figure potential
payoff, every little bit helps.
|Are you a charitable person? Rather than making a monthly or
annual payment to your favorite charity, instead buy a separate policy
with that money, naming that charity as the beneficiary.
|Ask your employer to purchase a policy naming itself as beneficiary.
If you are a valuable employee, should you die suddenly, your employer
would need to hire and train a replacement. Since the policy would
not only compensate the employer for such an incident, but also prompt
your health insurer to keep you well and active, they might agree.
|When you take out a major loan, such as a mortgage, the bank or loan
company will often require you to take out a life insurance policy, naming
them as the beneficiary. This would keep them from needing to foreclose
the loan if you died; instead, the insurance would pay the balance of the
loan. Now this expense can also help safeguard your health.