Insurance: Smart Protection or Money Pit?

Insurance is a topic most people have different thoughts about, whether it is a protection or just another bill. I wouldn't blame anyone saying otherwise about insurance because people have had diverse experiences, both good and bad, when it comes to insurance.

I also hear that people do evil just to benefit from insurance,that's surprising to know.., and the list goes on; however, I will share my experience and thoughts about this subject.

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Personally, I will say that insurance is a great tool, an amazing initiative to consider. This is because unexpected circumstances don't take permission from us before they happen; they just take us unaware, and we start running around.

When I insured my life some years back, someone asked why I was planning for death. That's funny, but it's something no one can escape. We insure our life, our assets, our business, and so on. When we start paying this money monthly, it might be painful taking away such an amount, especially when you don't make use of your insurance for a long time, but you will agree with me that when you eventually need it, it will be better you paid gradually than paying such a huge amount.

Imagine if your car or house got burnt, and they are all covered by the insurance company. You will sleep like a baby knowing that insurance covered you; otherwise, high blood pressure might kill you overnight while thinking of your huge loss, lol. We know all of this, and how much insurance is a great deal to embrace, but then, I had a bad experience with insurance over the health of my son.

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Health is one of the most common insurances most people go for. As an HMO beneficiary, you will expect to get treated whenever you are ill, for sickness of every kind, but the reverse is the case in this part of my world, or let me say with the particular insurance company I registered with. I have taken my son to the hospital on several occasions, and to my greatest surprise, the people in charge told us that our insurance doesn't cover all kinds of illnesses and certain drugs wouldn't be given to us.

Down to the medical diagnosis, they denied us of it. It was embarrassing and discouraging, I must say.

Health insurance, which is popularly known as HMO, is supposed to be a kind of insurance that covers your bill even in the case of a medical emergency. A lot of people, including me, grabbed this ofFR with the mindset that whenever health crises surface, I am covered, but so far, I haven't been benefiting as I expected.

I have been given low-quality drugs; at times, they refer me to a particular pharmacy to go search for my drugs there. They treat non-HMO like a VIP,it was surprising to observe .

Well, I opted out last year to cool my head, but currently, I am looking for a better one with better services. I was told that my bad experience has been due to the company I enrolled with; however, knowing how important this tool is, I am ready to give it another try with a different company.

Overall, I will say that once you can get a trustworthy insurance company with great services, insurance will never be a money pit that will take everything from you, nor will it be an initiative that could cripple you financially in the long run.

This is my response to the #Hive Learners prompt on the topic titled, INSURANCE.

Images were taken from canva