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Approximately half of all personal bankruptcies stem from costs incurred due to a major illness.
Research has shown that a person becomes bankrupt if there is a serious illness that requires costly treatments.
A major illness that is not easy to overcome required visits to the hospital again and gain along with very expensive medical procedures. A person who or has a family member suffering from a major illness is most likely to spend half of his earnings on treatments. It is due to this reason that half of bankruptcies occur due to major illness.
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