Manage your money while you're healthy to minimize the impact of the unexpected.
Your health. There's no way to put a value on this precious commodity, but count on it costing plenty if you lose it.
Unfortunately, a serious illness or accident can strike anyone, at any time. If it happens to you, will you be prepared for the financial fallout?
You may not be able to prevent sickness or injury, but you can take these steps to minimize the financial impacts once one occurs occurs:
- Get important documents in place. These include a durable power of attorney, health care proxy and living will.
- Make sure your medical coverage is adequate. Make sure it covers catastrophic illnesses, injuries and long-term illnesses.
- Decide if your other insurance is adequate.
- Know where you stand financially.
- Find out how your employer can help.
- Know how and where to apply for disability benefits.
- Look for other sources of cash.
- Call your creditors. Put together a list of creditors and people to call if you get sick and may have problems paying the bills. You’ll need to arrange to call or have someone call for you to ask for more time to pay. You can also use Coastal's FREE Online Bill Pay.
Coastal’s Trust and Investment Service advisors » can assist you in making plans for illness and accidental injury. Contact them or visit one of our Financial Resource Centers for information. And, of course feel free to contact us at 1-800-868-4262 to speak with a financial service representative at Coastal should you become ill or need assistance. |
