Personal Finance Week 7 Assignment

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Charron 2

PERSONAL FINANCE

Samantha Charron

Northern Vermont University

March 6, 2021

Steps to ensure my needs for health insurance are met

Purchasing early of the insurance policy. By doing these it will help me in the future as age increases and there is a period, I will be old it will help in catering for the diseases that may invade in the old age. (Berchick, Hood & Barnett 2019) The other step is choosing a comprehensive health plan. Having a health insurance plan that is comprehensive will be beneficial to me as I will get coverage for a number of medical needs. The last step is to have super to up plans which will be specifically designed for them to provide coverage that is extra.

I will choose to be offered preferred provider organisation type of health insurance by my employer. The reason for picking this is that I will have the choice of choosing what doctors should treat me.

Being at the age of 21 I consider to have a long-term insurance this is because I will have to paying small premiums and when am old and the old disease invade me in any case I will covered by the insurance without issues. (Nguyen, Nguyen, Nguyen & Phan 2018) Other factors such as personal health history and family history does not influence the choice.

I do not need a life insurance policy because am young at the age of 21 and am single.

In the future I anticipate that my life insurance policy will cover all the expenses of my end of life, it should take care of my mortgage if there will be need, will handle the co-signed debts, take care of the expenses of my children and dependents, my medical expenses when am still living and lastly it should leave legacy when I die.

References

Berchick, E. R., Hood, E., & Barnett, J. C. (2019). Health insurance coverage in the United States: 2018 (p. 2). Washington, DC: US Department of Commerce.

Nguyen, H. T., Nguyen, H., Nguyen, N. D., & Phan, A. C. (2018). Determinants of customer satisfaction and loyalty in Vietnamese life-insurance setting. Sustainability, 10(4), 1151.