Life and Health insurance Plans Are Available in a Number of Price Ranges

Finding the right health care plan might be a joke on a popular sitcom, and it might be funny when a temporary manager is assigned to select the least expensive health care plan, but in real life health insurance is no laughing matter. In fact, both health and life insurance providers play a major role in the lives of Americans today. From the retirement benefits that are offered to employees to the type of health insurance plans that are available, insurance and benefits are a major part of the compensation plans that many people have.

Life insurance providers and health insurance companies offer a wide variety of options, all accompanied with varying prices. Finding the plans that are provide the right amount of coverage and are within a company’s budget is a challenge in today’s competitive market, but it is a valuable incentive that encourages people to work harder, as well as longer. In fact, there are many people today who are simply working for the benefits that they receive, not necessarily the salary. Consider some of these facts and figures about the insurance industry and the impact that it has on the nation’s economy and the need for better financial planning on the part of all Americans:

  • 66% of Americans would struggle to scrounge up $1,000 in an emergency situation.
  • The average American household with debt owes as much as $132,529.
  • Only 46% of Americans have a rainy day fund.
  • The number of consumers age 60 and older with student loan debt has quadrupled over the last 10 years.
  • 77 million Americans have debt in collections reported in their credit file.
  • According to a study from the National Endowment for Financial Education, only 24% of millennials demonstrate basic financial literacy.

A number of people make sure that they also buy life insurance themselves, instead of just relying on the small policies that an employer may provide. No matter if your insurance is provided at work or you purchase it yourself, there is no denying that it is a benefit that is important to most people in this country.

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