Disability insurance is more important for most workers than life insurance. You are three times more likely to become disabled than die before age 65. The most common disabilities are arthritis, back pain, and heart problems. Although death is certainly a great human tragedy, disability is a more serious financial problem than death, since a death reduces expenses and a disability does not. Continue reading Disability Insurance
Our former employer offers supplemental insurance to employees including:
Critical Care and Recovery Insurance
Hospital Intensive Care Insurance
Hospital Confinement Indemnity Insurance
Critical Illness Insurance Continue reading Is Supplemental Insurance Necessary?
Do You Need It?
According to Consumer Reports, if you have more than $2.5 million in liquid assets, you can probably afford to pay long-term care insurance premiums out-of-pocket, and if you less than $500,000 in liquid assets, you won’t be able to afford the premiums. That article was written in 2012, but inflation has been low in the last several years for adjusting the dollar amounts. We fall in the under the $500,000 in liquid assets category. We only plan to have around $250,000. Clark Howard recommends not buying long-term care insurance if you have over $3 million in liquid assets or if you are on Medicaid. Continue reading Should You Get Long-Term Care Insurance?
The toiletries I use are shampoo, bar soap, liquid soap, toothpaste, mouthwash, dental floss, and deodorant. Continue reading Reducing Toiletry Costs
I remember one of the main concepts I was taught in an undergraduate risk and insurance class is that you should self-insure if you can. Remember that your insurance company has administrative costs and does not pay out what it collects in premiums and the return on investing your premiums. The ideal relationship with your insurance company is that you don’t pay them much money and you never file a claim. Insurance should only be for potential financial disasters that you can’t afford. The best way to self-insure is to have an emergency fund, which you can use for a variety of bad things that can happen to you. Continue reading Five Ways to Reduce Automobile and Homeowners Insurance Costs