Do not be a burden to the next generation

As I have written before, kidney dialysis cost about $2400 a month. The impact of dialysis a year is $28,800. This is not a small figure if it is for a year, but with the uncertainty of how many years one need dialysis, the impact is quite great if for 10 years, the cost can be $288,000 not counting other medication and followup treatment.

Most of the us may have only 1 or 2 children, some may have more, but will this be a big burden for them to bear in time of need? Or are we prepared with such cost?

Will the next generation be able to shoulder such unforseen situation? The answer is quite obvious, even if one can afford it, the cost is quite a concern.

Other kind of treatment will be cancer, stroke or heart problem, with long term treatment and medication, the cost can be quite high.

I am not trying to scare you, but from my own experience, I am thankful that I have at least an Incomeshield in place for my mother that can cushion off the bill, though the co-pay of 10% is still needed. And I have 5 siblings with me shouldering the cost, which with the Incomeshield is not a burden and I am very thankful that I insured her since 1994 for Incomeshield. Every month the cost of dialysis and other cost is $400 a month, this is far cry from $2400 if without Incomeshield.

How can we not be a burden to the next generation and to take care of our own needs?

Basically, I have been writing about the need for Vivolife Plan , a wholelife dread disease plan that covers any lost of live, permanent total disability or on diagnosis of specified 30 dread diseases.

Incomeshield or any Shield Plan will then be the most basic plan that every one should have. I can say, without a life plan is still not as bad, but without a Shield Plan is disastrous.

I hope you will consider to review your family's plans to cater to future needs, so as to have peace of mind and not to burden the next generation or come to a stage when financial problem will set in, in event of a chronic illness.

I am sorry to be so straight to the point on this, as my experience with my own mother, has opened me up deeper into helping others to plan better.

Many are willing to pay instalments of $1000 a month to pay for a car that will go to scrap yard in 10 years, but to set aside $200 a month or so in a good plan for the financial security and peace of mind of a lifetime, many are no so willing. Why?

Vivolife also has a limited premium term of 10 years, to cover one wholelife.

When you buy a car, it is so much more expensive and goes to scrap in 10 years, but with a fraction of your commitment, you are covered wholelife after paying premium for 10 years as well. Which can drive you further?

I hope you can see the reality and priority of such plan.