Which insurances to have
The five insurance MUST HAVES are:
1. Life insurance, because your family will need it if you die
2. Disability insurance. Medical science keeps you alive far more than ever before. E.g. most survive strokes now, but your ability to work is severely impaired. So who pays the bills if this happens?
3. Health insurance, unless you want to be on waiting lists for months
4. Home & contents. You may be surprised how many don’t have this.
5. Car insurance. Shop around for deals, they vary a bit.
And some that you DON’T need:
Extended warranties. Conditions are too strict and few ever claim; Credit Card insurance, as the best option here is simply to not use it; Accidental Death Cover, as only 4% of deaths are due to accidents, Flight insurance (normally a $20 option) as 99% of flights get you to where you want, when you want. Stick to the 5 basic insurances and you will rarely go wrong.
Filed under: REAL ESTATE | Tagged: Real Estate