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When you go to pay your monthly bills, there aren't too many of them that you can just skip if you want to. Your health insurance premium is one that you will need to pay, no matter what hard financial times that you are experiencing. Sometimes people think that maybe they should stop paying the bill or let it go when cash is scarce, but that is a bad idea. Whatever insurance that you have, such as life, health, or car, each of them is important. They can mean the difference of being in complete financial destruction in many instances. If you have homeowners or rental insurance you know that all you own will end up being paid for if something happened. Financial security means that you will not take the chance of losing your home or savings because of some unforeseen disaster. It is understandable that when times get tough people will consider dropping some of their insurance coverage. You have to remember how important it is to have the coverage and what you are protecting. If you are driving without car insurance and you wreck your vehicle then the least of your worries will be living without a car. It will be much worse if you are injured or seriously hurt another person. Then you could be sued and lose whatever you have left. Ultimately every insurance plan is providing you with something and although you may think that it is okay to take your chances and pray for the best these are not guarantees that you won't need that insurance once you drop the policy. In many cases, even if you let an insurance policy lapse for non-payment and nothing bad happens during this period of time you can still be left with wait times before another health insurance policy will begin covering your medical expenses and many states will charge you an extra fee if you let your auto insurance lapse for even just a few days. If you need to stop spending so much money each month then look at what other expenses that you have that can be scaled back. Insurance is too important for your financial future to play around with. If you want to try and get cheaper insurance that is a good idea. There are usually discounts when you have the same company insure more than one thing for you. Which choice of medical insurance that you acquire, is a serious decision. look over all the different options about individual health insurance plans to see what they offer.
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