Be financially comfortable in 2018!

becoming financially comfortable for your family

This post is a paid advertisement by Securian Financial Group, Inc. All opinions expressed are my own, and I’m not a customer of Securian or its affiliates.

Gosh, what a year it has been. A good year in fact and I’m hoping it only goes up from here. We have been blessed with so many opportunities to step out of our comfort zone this year. Like taking mini vacations to resorts, and going on plane rides, even watching Ethan do amazing at his first ever wrestling match! Our day to day lives just keep getting more exciting & busier, and I’m just trying to soak up every single moment because right now we are financially able to do these type of things.

 

With all the hustle and bustle going on right now, we hardly think about any worst case scenarios. I mean, when we have the extra money, we are spending it on things like a new coffee machine, haha. I’d like to think we are financially smart with our money. We have a savings account, and we put a good amount in it each month. But, what if?


There was one time Joe and I thought we were in a good place, we were living comfortably, and we had bits of extra money coming in, and then BAM. We ended up in the hospital for a few days with Ethan due to stomach issues. I remember it happened during the week, and Joe couldn’t miss any work. I didn’t want to leave Ethan’s bedside, so we had to scramble around to find a last minute babysitter to stay with Millie and trying to find the means to pay for a sitter wasn’t in our budget. That didn’t even include our hospital stay; we had so many expenses.

 

Even though we had health insurance through Joe’s work, we still had to pay a reasonable amount out of pocket and back then me being a stay at home mom living on one income, it was tough.

 

Today, to help employees financially prepare for experiences like ours, more and more employers are offering supplemental insurance to their workers as part of their benefit packages. Here’s how these products work:

 

Group Accident Insurance—If an insured employee or covered dependent experiences an accidental injury covered in the policy, the insured receives a payout that can help cover deductibles, out-of-pocket medical costs, everyday living expenses or be used in any other way the insured chooses.

Group Critical Illness Insurance—If an insured employee or covered dependent is diagnosed with a condition covered in the policy, the insured receives a payout that can help cover deductibles, out-of-pocket medical costs, everyday living expenses or be used in any other way the insured chooses.

Group Hospital Indemnity Insurance—If an insured employee or covered dependent is hospitalized, the insured receives a payout that can help cover deductibles, out-of-pocket medical costs, everyday living expenses or be used in any other way the insured chooses.

become financially stable in 2018


It’s crazy to know that we aren’t the only ones who have been in situations like the one we were in a few years ago. As a matter of fact, I consider ourselves lucky. Although we were out of pocket $3,000+, we didn’t have to put Ethan through any surgeries, and he is as healthy as ever.

 

Securian conducted research this fall and found that nearly half (44 percent) of the parents with employer-sponsored health insurance they surveyed have had a child experience a significant injury, with the most common incident involving an emergency room visit (23 percent). Other child injuries most cited include broken bones (16 percent) and lacerations resulting in stitches (11 percent). Among the parents surveyed who have had a child experience an injury requiring medical treatment, 71 percent paid up to $2,000 in out-of-pocket medical costs as a result of the injury, and about one in ten paid more than $5,000.

how to become financially stable in 2018


When I looked into Securian I was impressed by all the benefits they have to offer. Supplemental insurance could help anyone, but especially those who have young children and a family. I know I can speak for both Joe and me when I say we are going to look into what supplemental benefits his employer offers because medical issues and accidents do happen, and the more active our kids get, the more chances we might end up in the hospital again. We’d rather be safe than sorry, that’s for sure.

 

 

Critical Illness Insurance, Accident Insurance and Hospital Indemnity Insurance policies provide limited benefits. These policies have exclusions, limitations, reduction of benefits, terms under which the policy may be continued in force or discontinued.

DOFU 11-2017

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