|
|Auto | Credit | Disability | Homeowner's | Life | Uneeded Insurance |Long Tem Care|
The following are types of insurance widely offered but rarely useful or needed.
- Private mortgage or mortgage life insurance. It is often wiser to invest elsewhere or add to existing life insurance.
- Service contracts or extended warranties.
- Separate policies. For example, it costs less to add a boat to an existing policy than to buy a new policy.
- Flight insurance. One could fly every day for 26,000 years before statistically being involved in a crash.
- Credit insurance.
- Short term, cash value life insurance. If not kept for a long time, it is a waste.
- Life insurance for children. They have no dependents.
- Disease specific insurance. Conventional health insurance will cover most illnesses.
- Family protection, such as home invasion and kidnapping, unless one is a celebrity, however, policies do not pay for the ransom.
- Short term medical coverage for someone in between jobs. Often the old policy follows the employee for a few months.
|
