One of the smartest and most important investments you can make is taking out a health insurance plan. This may not seem like an investment to you since it's not something you will be making money on. However, at Credit Card Diva we encourage you to look at all investments as taking care of your future. One investment will help your future by growing your wealth and another investment will take care of your future by preparing yourself for ill situations.
The problem is, taking out a health insurance plan is not always an intuitive move for people. The reason for this is that a health insurance plan as it's name indicates is meant to be insurance meaning something to safeguard you should need it in the future. You don't actually need it when you sign up. Human nature tells people they can save money since they are now healthy and don't see themselves requiring it in the near future. People then tend to push it off thinking that in a later time in life when it becomes more relevant they will sign up. However, just like with investments we know it is impossible to spot a bottom for a stock know we have to get in sometime or we will miss the boat, so too with health insurance if you wait too long till a point where you actually need the insurance, chances are you won't be able to get a policy.
Health insurers don't like taking on sick customers since they know they will automatically loose money on them. Insurance only works when you have a pool of people and average out the cost of the few who will eventually require the insurance's assistance on the total insured community. Therefore, by trying to wait with taking out a health insurance plan you are increasing your chances of being rejected by the insurers and may find yourself in the time of need with no coverage. That is definitely bad investing…
