Life Insurance Quotes

Experts advise exploring life insurance early

12/01/11

Experts are noticing a trend among Americans, that could possibly be detrimental to their futures: a growing reluctance for younger individuals to explore life insurance.

A recent Chicago Tribune article highlighted Anna Vitko, an 83-year-old woman who has been in and out of the hospital at least six times since June. Vitko has battled many different health conditions, including diabetes, congestive heart failure and chronic obstructive pulmonary disease, which she's unable to fully treat because she cannot afford to pay for long-term care on her own.

Cases similar to Vitko's are commonly seen in the United States among other seniors who failed to secure some form of life insurance in order to prepare for unexpected health expenses, according to the Tribune.

Phyllis Mitzen, co-program director of the Center for Long-Term Care Reform at the Health and Medicine Policy Research Group in Chicago, told the Tribune, "People buy insurance for their life because they know they are going to die, for their car because they know that can get in an accident and for their health because they know they can get sick, but people don't tend to buy insurance because they think they are going to need someone to help them take a bath."

November was Long Term Care Awareness Month, which was meant to educate Americans on the benefits of planning for future health expenses, which can be paid for through annuity features common to many life insurance policies. 

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