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INSURANCE WOES
a year ago
Short version: Been paying a CRITICAL ILLNESS insurance policy since 2019. My financial situation has changed and I can no longer pay the premiums on it. So, I decided to surrender the policy, in the hopes that I'd get some kind of cash value for it. Mind you, I've been paying this insurance premium since 2019... for five (5) years now, only to be told that because of the type of policy it is, there's really no cash value.
So what the hell have I been paying for these last five (5) years?!
Oh, I've been paying for the instance of should I contract some sorta of "CRITICAL ILLNESS", the insurance company will pay out for my health expenses. Apparently, that's the risk. And even though I haven't gotten EXTREMELY sick where I need the CRITICAL ILLNESS Health Insurance, there's no way to get back the money that I have invested into this policy for the last five (5) years.
So now, my dilemma is this, do I accept the loss of the money I have invested these last five (5) years into my CRITICAL ILLNESS policy? Or do I find the money and somehow continue paying said premium, JUST IN CASE I should become sick and cannot cover my health expenses?
Share your thoughts.
So what the hell have I been paying for these last five (5) years?!
Oh, I've been paying for the instance of should I contract some sorta of "CRITICAL ILLNESS", the insurance company will pay out for my health expenses. Apparently, that's the risk. And even though I haven't gotten EXTREMELY sick where I need the CRITICAL ILLNESS Health Insurance, there's no way to get back the money that I have invested into this policy for the last five (5) years.
So now, my dilemma is this, do I accept the loss of the money I have invested these last five (5) years into my CRITICAL ILLNESS policy? Or do I find the money and somehow continue paying said premium, JUST IN CASE I should become sick and cannot cover my health expenses?
Share your thoughts.
