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Decisions, Decisions!

The current economic crises has put many of us on the financial brink.  As a result, we have had to make very hard decisions on where and how we spend the money we do have.   For many, it has been a choice of whether or not to continue insuring their car, their house, or even themselves.

I have several friends that have been debating, or already chosen, whether they should keep their health insurance vs. their home insurance.  Granted, health insurance has become a much larger portion of everyone’s economic expense pie than has insurance for their abode.  However, the choice has still been health or home – along with some other discretionary expenditures to make up the difference.

For me, the choice would be easy.  I have always been a firm believer that if you have your health (and the love of your family) you have it all.  Others have said that you have to ensure the roof over your family’s head will not be threatened.  While I agree with that, by not having health insurance for your entire family, you are putting your home and your family’s security at great risk.  Should a major health crises arise, you could be on the hook for thousands, or even hundreds of thousands of dollars.  If you are being forced into making a decision on whether or not to insure, you certainly don’t have the cash position to cover that kind of expense.  The result will most likely be bankruptcy, and the loss of your house anyway.  For others, though, the choice has been for the material rather than the ethereal.

I’m interested to see how others feel on this tough decision.  Please, log your choice on the poll above.

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