April 27, 2014

When dealing with your insurance needs, what do you need and what can you do without? Why?

5 thoughts on “April 27, 2014”

  1. Garrett Haag says:

    When dealing with insurance you need to cover desasters, such as fires, car crashes and medical emergencies and death. You dont want to cover every little thing like extended warranties or all the other little insurance items that the financial industry wants you to buy so that they make money, on a car there are many insurances that you dont need like Gap and life insurance on the car. Speaking of life insurance the only like you would ever need is a good term policy if you have someone who depends on you. You have an emergency account to deal with emergencies. If you are going to cover yourself for small dollar items that will only be $100 or so dollar to replace like a cell phone you are better off just paying that out of your emergency account and not getting a policy on it that will cost you more money in the end.

  2. Mike Finley says:

    You covered the information very well Garrett. Let’s review.

    Buy insurance for catastrophes, not for minor inconveniences. This means you should stay away from the extended warranties and small stuff that the insurance companies push on you (they make a lot of money off those policies by the way). Raise your deductibles and pay for those small things out of your emergency savings just as Garrett stated.

    Why? You don’t want to spend money on insurance that you don’t need. The likelihood of you getting your money’s worth out of those small policies is very small (if the odds were in the consumers favor, the insurance company would not sell them). Do not listen to anecdotal evidence (yes, someone always wins, but most do not, think lottery).

    Bottom line: Protect yourself from the big stuff and cover the little stuff out of your savings. Raise those deductibles as high as possible. This will keep those yearly premiums as low as possible. Take your savings and pay down debt, increase your emergency fund, and/or invest it in your 401(k) or IRA via no-load index mutual funds. Knowledge is POWER, especially when it is followed by ACTION!

  3. Janessa says:

    Free knowledge like this doesn’t just help, it promote decomracy. Thank you.

  4. Saif says:

    Fantastic pics. I just love the way you captured the love and paosisn David has for his amazing art. He sure is an inspiration to all and his music is the type of sounds that make you close your eyes and realise that we can truly achieve averything! I love it. Both the pics and the great music. Well done!!

  5. Prisila says:

    What a great performance! Love the new songs, the enignagg of the audience, and the fact that you included more classical songs to your American audiences. Clair de Lune is my absolute favorite, I got to here it live! This was the second performance I have seen of yours, and it was wonderful. Thanks for bringing the audience a taste of your talent.

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