Keep your insurance account current! Two of our insured friends, for various reasons, failed to pay their insurance premiums; therefore, their insurance policies were terminated. I understand this problem. Sometimes I have a hard time coming up with my premium, too. The problem is that you don’t know when sickness will strike, and if your insurance is terminated because of lack of payment, there will be no coverage.
One person told me that he paid his insurance faithfully for years, forgot to pay the premium, was terminated, and two months later became quite sick and ran up huge medical bills. He had to pay for everything himself, just as if he had never had insurance.
Another sound reason for keeping your account current is that a company is not obligated to reinstate you if you developed some sickness during your coverage and then you were terminated. For example, if you had coverage, developed high-blood pressure, forgot to pay your premium and then terminated, the insurance company could then consider the high-blood pressure as a pre-existing condition and not reinstate you. So, to get the most mileage out of your insurance, keep your account current!
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