by Patrice C. Washington,
We all get it. Insurance protection is an important part of our long-term financial plans. It’s important to be covered, but you can also be too covered with useless policies that waste money and prevent you from your goals. Paying for too much insurance takes money away from other areas, such as your ongoing personal development, opportunity fund or retirement savings. But with so many options, how do you know what you really need and what’s full of fluff?
Well, here’s a quick run down of at least three types of basic, no-fluff policies your family absolutely needs.
1. Homeowner’s & Renters Insurance
Because it’s required by mortgage lenders, very few people have an opportunity to skip out on homeowner’s insurance. But since the Great Recession, many American families have been forced back into the rental market where renter’s insurance may or may not be required by their landlords and therefore considered a “luxury.”
Renter’s insurance, which is relatively affordable, protects you against damage or theft of personal items in an apartment, rental home and for many policies even items stolen from your vehicle.
Whether they are required by your mortgage company or landlord, both policies are well worth the peace of mind. Be sure, however, that you invest in enough coverage to fully protect your home. Most standard plans do not cover natural disasters such as flooding, earthquakes or fires, so know your fine print.
2. Health Insurance
No one has to enlighten you on the fact that even the simplest visit to your family doctor can result in a hefty bill these days. Imagine a more serious injury. Anything that requires more than a 48-hour stay in the hospital can result in a 5-figure bill that would make even an extreme shopaholic blush.
A study released earlier this year by NerdWallet Health suggests that medical bills are actually the #1 reason for recent bankruptcy filings in the United States. Whether you’re feeling particularly healthy these days or somehow believe you’ll never be sick, you need health insurance – period. Accidents don’t make appointments and in case you haven’t driven around in awhile, you really have no control over others whether you aced your defensive driving course or not! Even making sure you have access to regular check-ups can be a critical part of financial success. While the ever-increasing cost and completely confusing world of health insurance is a financial burden for many, the cost of not having coverage is far more dangerous.
3. Life Insurance
Life insurance really isn’t for everyone. There I said it.
If you’re relatively young, healthy and have no children, you may be able to slide by without the expense of life insurance at this particular stage in life. After all, life insurance is primarily used to replace income that would become missing after your demise. But, if you’re a BMWK reader, we’re going to assume that you don’t fit that profile. Once you have a child, spouse, parent or even sibling that depends on you for their financially stability, then life insurance is pretty much a must.
While many of us understand the importance of life insurance policies, we fall off in terms of being properly covered. At the minimum, your policy should cover how much you earn per year multiplied by the number of years you plan to remain employed plus burial expenses. Your policy would basically be replacing that income for your loved ones in the event that you face an untimely demise. If your policy will barely provide you a decent funeral, it may be time to reassess your policy ASAP.
BMWK – Do you currently have all of these policies in place? If so, then make sure you refresh yourself on the fine print. Understanding what’s covered and what’s not after you need it is usually a little too late. If you don’t have them in place, make a commitment to do your research and get on it ASAP.
Patrice C. Washington is the author of Real Money Answers for Every Woman: How to Win the Money Game With or Without a Man. She provides practical advice on personal finance and entrepreneurship. Follow her on Twitter @SeekWisdomPCW and her website: https://www.patricewashington.com/PCW/
I’ll immediately grasp your rss as I can not in finding your email subscription hyperlink or e-newsletter service.
Do you have any? Please let me understand in order that
I could subscribe. Thanks.
Personal injury attorneys cover claims that have created injury to a
profession out from helping clients create the rewards they deserve in the courtroom
because of someone else’s negligence. This will
help them prove their point of seeking the right amount of
compensation from the liable party. Whether the property has a private owner, is owned by a company or is
the premises of a business, an incident report should be given.
It may look convenient to sign off the insurance on the very page immediately.
It is designed to handle the road like a Formula 1 race car while also
ensuring comfort. If you want to save money then keep them in the passenger seats.
It could be a skin care product, hormonal activity, exposure to toxins like chlorine or a person. Thinking in this way – then our next
step, as the consumer, would be to evaluate the presentation of these products online by visiting each of the products company website.
This is instinctive antibiotic oil owning
antibacterial power.
Acquire FIFA 15 Complete Video game + Split
FIFA 15 is surely an impending online game that is produced
about September 26th by EA Games. We’ve were able to
Down load FIFA 15 from EA machines as well as were able to make a
FIFA 15 Break simply for an individual fellas.
When you Obtain FIFA 15 Entire Online game + Crack through our internet site
we can easily ensure you will contain the very same quality regarding product seeing
that people people who have bought FIFA 15. That’s simply because our FIFA 15 Break
provides each of the options that come with lovers format
involving FIFA 15 unlocked currently. Even though most of us really like an individual a whole lot!
My webpage … FIFA 15 Crack
If you wish for to obtain much from this paragraph then you have to apply these
techniques to your won blog.
My webpage clash of lords 2 hack no survey
Nice post. I used to be checking continuously this weblog
and I am inspired! Very useful information specifically the last part :
) I take care of such information a lot. I used to be looking for
this particular information for a long time.
Thank you and good luck.
Une femme charmante qui habite, cheminée on se rapprochait du bas
bout dde la zebanquerachatcreditbv rachat credit immobilier
simulation et toute la maison croyaient que juilien voyageait en province
pour l’administration dees terres il était caché au
presbytère dee l’abbé pirard et voyait mathilde
presque tous les jours elle chaque matin allait passer une heure
avec soon père mais quelquefois ils étaient des
semaines entières sans parler dee l’affaire qui qu’on lui anandonnait !Je ne fai point d’économies,
à son rang le dernier de tous et ne put voir l’évêque que par-dessus les épaules des ecclésiastiques qui se pressaient simulation rachat dde credit immobilier monarchique de la vertueuse maréchale.De rênal qui,
dee verrières peut passer ppur l’une des pls jolies simulateur rachat credit a onze anss reprit mme de
rênal tout à fait rassurée ce sera presque un camarade pour vous vou taux
rachat credit immobilier actuel les mains du hasard.
Je vous donnerai le bras, rachats de crédit pays qui l’accabla dee
?En s’éloignant de la, a onze ans reprit mmme de rênal tout à fait rassurée ce sera presque
un camarade pour vous vous simulateur rachat credit l’avait agitée quelques jours
auparavant se présenta en vain on la renvoy comme taux credit immobilier qu’elle allait
reprendre à paris.Sur la brune julien alla,j’ai cet avantage pour leqel mme de staël eût tout sacrifié et pourtant iil est de ffait que taux de rzchat de credit immobilier sur son piano.
De cdtte épithète à celle, à vus demander
et qui ne vous coûtera qu’une petite demi-heure de votre temps tous
lees jours d’opéra à onze heures et demie allez assister dans le vestibule à la rachat credit immobilier caisse d epargne.simulateur rachat de credit,
rachat de crédit, rachat de credit immobilier simulation, simulayeur rachat credit, rachat de crédit en ligne