If an unexpected event happens that requires you to shell out a significant amount of money (e.g., accident, job loss, an illness, death, etc.), how prepared are you financially? When the COVID-19 pandemic hit, did it hurt your finances?
Some things will happen beyond your control. The best way to minimize its negative impact in your life is by preparing yourself financially for inevitable crises. It’s a difficult subject to deal with, but it is a reality that you have to accept and face head-on. Moreover, it can reduce the tragedy into a temporary setback.
In terms of dealing with illnesses, taking precautionary measures is crucial to avoid hefty hospitalization and medical costs. One way you can stave off life’s unpredictability, like a medical crisis, is applying for health insurance. The infographic below provides an overview of critical illness and some tips on what you can do to be financially ready for it.