Like solving a difficult jigsaw puzzle, piecing together a successful financial life can be very challenging. Stocks, bonds, mutual funds, IRAs and annuities are pieces of the financial puzzle that most people focus on.

However, there is one critical piece that a lot of people forget about and it could make all the difference between a successful financial future and financial disaster.

The critical piece most people are missing (maybe you are one of them) is health insurance. Health insurance should be a vital part of your financial planning now and in the future. Here's why.

Healthcare costs are skyrocketing with no end in sight to the yearly double digit cost increases. Healthcare cost rises are far exceeding that of inflation and personal income increases.

What does this mean to you? Simply put, it puts you and your family behind the healthcare 8 ball. It means that a serious illness or injury could wipe out in a heartbeat everything you have worked for and built-up over the years. Without the right health insurance protection a catastrophic illness and injury to you or another family member can literally evaporate your savings and investments like the sun melts snow.

Given the vital importance of health insurance you must get the protection you need to protect your built-up assets. As you advance in age your health is going to become a bigger and bigger concern and money drain. Good health insurance is a must-have that is essential to both your physical health as well as your financial well-being.

As a matter of fact, the insurance industry has already recognized this need for healthcare coverage that protects over the long-term. A few years back an insurance product called Long Term Care was developed. It would wise to acquired this type of policy before you reach your mid-fifties to protect against any catastrophic illness or debilitation as you grow older.

In the long run, it pays to look at your health insurance situation early on so that you can make adjustments if necessary. If your employer is providing health insurance for you find out as much as you can about the policy and its pre-retirement and post-retirement provisions. Ask about coverage limits, deductibles, exclusions, pre-existing conditions etc. now. Remember, a lot of well-meaning companies facing financial problems have had to suspend/reduce their employee health insurance plans so watch out and be ready to take corrective actions.

If you aren't covered by health insurance right now, look around and try to find a plan you and your family can afford. There are many reasonably priced health insurance plans out there as well as inexpensive health insurance alternatives.

Don't get caught unprepared. Do your health insurance homework now and successfully complete your financial puzzle.