- While it is true that life insurance provides a lot of relief to the beneficiaries of the policyholder, it is also true that not everyone needs life insurance. If you do not have a family for whom you would like to save money, you may not need to buy life insurance unless you plan to buy a term life insurance. A term life insurance can be of use to you when you need it for an emergency fund.
- Accidents happen without warning and this means that you should get as much protection as you need. Insurance definitely provides protection but you may not need to buy insurance for every known peril. If you live in a flood prone zone, buying flood insurance will be a good decision but say your area does not experience hail storms frequently or maybe it does once in 3 years, you may not want to buy insurance for that. Damage from such disasters may be covered out-of-pocket instead of paying for them year after year.
- Many of you may think that if you buy life insurance it has to be ‘whole life insurance’ or ‘universal life insurance’. Many of you do not consider term life insurance as an option while it can be really beneficial for you. With a term life insurance you may save money for yourself and may use the money for your own good. If you do not have beneficiaries you may want to save up some money for yourself and term life insurance allows you to do just that.
- Only those living in the flood prone zone need flood insurance. This is a thought engraved in a lot of people’s minds. But the fact is anyone can need flood insurance. Flood damage can be devastating and investing in such a policy is a wise decision.
- So, you think you don’t need disability insurance if you have Social Security? Your Social Security will cover only long term benefits while you may become disabled for a short time period too. Disability insurance has short-term benefits that can help you when you cannot go to work for a short term.
- Everyone needs liability protection and hence may require you to buy umbrella policies. There may be an accident anytime and you must be prepared to cover the costs.
Blog Category