Not all life insurance policies are required. In fact, there are many options out there that are terrible. This won’t be a list of insurance policies I recommend. These are insurance plans that are useless and are ones that you need to avoid.
1- Extended Warranties
Extended warranties are a scam in my opinion. These insurance warranties basically cover products that you purchase. Is it really worth it to protect an asset that will always be depreciating? I didn’t think so either! If you do just HAVE TO have extended warranties, get it at the store.
2-Credit Card life Insurance
This one just hurts! A credit card insurance plan is insurance for when you die, a company will come in and pay off your credit card. It’s important to always seek out life insurance quotes.These insurance plans are a waste of money and should be avoided at all costs. Foten, even term life insurance plans will cover you and will cost significantly less!
Don’t try to game the system. Make sure you’re covered with great life insurance and protect your family. This is critical for you and your family. And make sure you research information on types of life insurance.
3- ID Theft Insurance
Ever hear about people’s ID being stolen? Well, unfortunately, this type of crime happens all the time. Companies like Lifelock will offer their services to help you avoid ID theft. But what if I told you this type of insurance is covering things you can do for free! Yes I said free! It’s a waste of time and money to buy this type of insurance. It’s not hard to protect yourself and your family and avoid ID theft. Don’t get suckered into this type of insurance. I encourage you to shop around if you do end up buying IS theft insurance. I wouldn’t want you to be ripped off. Why not avoid getting ripped off from the get go and avoid ID theft insurance! It’s an easy decision.
IronMan does an outstanding job with this week’s round-up of risk-related posts, and your post is in it:
http://politicalcalculations.blogspot.com/2012/01/cavalcade-of-risk-148.html
Please tell your readers.
And a friendly reminder to newbies and regulars alike that, while it’s not mandatory to give a link back, it’s the way that carnivals work best. If your submitted post has been included in the Cav, please remember to post about it on your blog because it helps us all.
Thanks!
Hank Stern
hgstern recently posted..Cavalcade of Risk #148: Anti-Obsolescence edition
Okay, so going to the ID Theft Insurance article, what are the steps one can take to avoid it? Are there only 2 or 3 simple things one can do or is it a tad complicated and time consuming? If a persons’ ID is stolen anyway after taking those steps is there anything that can be done? Do the ID theft insurance companies compensate you for time,etc lost if it happens anyway even if you signed up with them?