You can’t afford not to pay your insurance premiums. You really can’t, please trust me on this.

If you miss two consecutive payments and disaster strikes just days later, your insurer will reject your claim, saying your policy was suspended due to nonpayment.

Sadly, it has to be that way. If we knew we could stop paying our premiums and then quickly pay the arrears should we crash our car or get a chronic disease diagnosis, we wouldn’t have much incentive to keep paying faithfully every month, and the insurers’ funds would start to wobble and collapse...