Insurance

Term Life Insurance: How Convertibles and Guaranteed Renewals Work

Starting a family comes with questions you never had to consider before, such as the financial well-being of your loved ones following your death. Life insurance will provide for their needs later, but right now you just can’t afford permanent insurance; whole, universal or variable life. Like many first time life insurance buyers you’ve decided …

Categories: Insurance

Renters Insurance: Why It’s Worth It

Being a renter often means having fewer things to worry about. Got a plumbing issue? Call the landlord to fix it. The refrigerator in your rented house stopped working? Call the owners and have them replace it. But what if your apartment gets burglarized? Or, worse yet, suffers smoke damage in a fire? Some renters …

Categories: Insurance

The Simple Dollar’s Education in Insurance

Up until now, I’ve only occasionally dealt with a major component of monthly finance: your insurance. If you’ve got a family, like me, you have to know how your insurance works. For that matter, if you’re financially stable or you’ve got valuable property, grasping your coverage is just as necessary. When something unexpected happens, insurance …

Categories: Education, Insurance

Three Life Lessons About Life Insurance

Life insurance is a topic that has danced in and out of my life over the years. The Simple Dollar has even written a guide on life insurance. But here are three little tales about the times when life insurance has impacted my life and what valuable lessons I’ve taken away from those experiences. A …

Categories: Insurance, Life, Planning

The Simple Dollar Guide to Health Insurance

The state of health insurance today is one of America’s most heated debates. The Affordable Care Act, widely referred to as Obamacare, aims to revamp the American health care industry, and some provisions of the Act are already kicking in. In this rapidly changing environment, it pays to be aware of the fundamentals. As an …

Categories: Health, Insurance

The Simple Dollar Guide to Car Insurance

Welcome to Car Insurance 101, your primer and guidebook for understanding and navigating the exotic territory of automobile insurance. My aim is to explain everything you need to know about insuring your automobile, its occupants, and all objects in your path.   Here’s how the guide is structured: I’ll begin with an overview of the …

Categories: Insurance

The Simple Dollar Guide to Life Insurance

Forbes’s LearnVest did a nationwide study on life insurance in America that showed 57% of respondents owned life insurance but only 28% were “extremely confident” about their understanding of life insurance. 66% of study respondents had a poor understanding of how accessing payouts on their life insurance worked. Though it can certainly be confusing at …

Categories: Insurance

The Simple Dollar Guide to Home Insurance

Anyone who’s bought a house or has shopped for one knows that homeowners insurance is a fact of life – some might call it a necessary evil; others peace of mind in times of crisis. And while most people are convinced or compelled by banks to purchase insurance on their homes, few people understand exactly …

Categories: Insurance

Choosing Life Insurance

A few weeks ago, I put out a call on Twitter and on Facebook for detailed posts that people would like to see. I got enough great responses that I’m going to fill the entire month of July – one post per day – addressing these ideas. On Facebook, Andrea asks “What kind life insurance …

Categories: Insurance, Life

Tactics for Appealing Health Insurance Denials

A few weeks ago, I put out a call on Twitter and on Facebook for detailed posts that people would like to see. I got enough great responses that I’m going to fill the entire month of July – one post per day – addressing these ideas. Update: With the passage of the Affordable Care …

Categories: Health, Insurance

Health Insurance and Downgrading Your Job

In April 2010, my wife made the choice to step away from her job for the rest of the year in order to be a stay-at-home mom. She chose that period because she knew that she loved her job and that she would be itching to return after nine months. Her employer made it possible …

Categories: Health, Insurance

Should I Buy Life Insurance for My Children?

This is a question I hear all the time from readers who are parents – and it’s a question that comes up in our own household as well. Should our children have life insurance policies? I’ve done a lot of research and soul-searching on this topic. What follows are the conclusions I’ve come to on …

Categories: Insurance, Life

Why Not Walk Away from My Mortgage?

Kelli writes in: My husband and I are sitting on a thirty year mortgage (with twenty six years left to go). We still owe $330,000 on our home. A week ago, a very similar home to ours two blocks away sold for $220,000, so we’re under water by at least $100,000. We are thinking of …

Categories: Debt, Housing, Insurance

Raising Deductibles to Save Money on Insurance: Does It Work?

One common, painful bill that we all face is the insurance bill. Whether you’re talking renters insurance, home insurance, or car insurance, the bill feels painful because it’s not something we can often directly see the benefit from. It just comes in handy when something goes wrong. One of the most common tactics that you’ll …

Categories: Housing, Insurance

Trimming the Average Budget: Life Insurance

Life, other personal insurance – $309/year “Other personal insurance” includes long term disability insurance, long term care insurance, and umbrella liability insurance, making this a pretty sensible category overall. Of course, for most of us, life insurance is the eight hundred pound gorilla in the room. It draws most of the money from this category, …

Categories: Insurance, Life

How Much Life Insurance Do You Really Need?

I can’t tell you how often I’m contacted by readers who tell me the story of their lives, then ask the big question: how much life insurance do I need? I’ll hear from twenty four year old single women and forty year old men with a wife and three children. I’ll hear from people with …

Categories: Insurance, Life

Where Can You Turn If You Lose It All?

I received a long email recently from an utterly despondent woman (that I’ll call Ellen) who was caught in a devastating situation. A year ago, she was a stay-at-home mother with three preschool-aged children. Her husband worked at a high-paying job that seemed to have great long-term potential and it seemed as though their life …

Are You Insuring the Irreplaceable?

A few weeks ago, I decided to spend a few hours looking carefully at all of our insurance policies. I knew in general how most of them worked, but in many cases I was a little fuzzy (or more than a little fuzzy) on the specifics. As I studied our homeowner’s insurance policy, I was …

Categories: Housing, Insurance

When Should You Downgrade Your Car Insurance?

One of the common nuggets of financial “wisdom” tossed out there by personal finance writers is the idea of downgrading one’s car insurance to save money. “Cut your collision or comprehensive coverage or raise your deductibles and save a mint!” they’ll say, but such comments don’t take into account the current status of the car …

Categories: Automobile, Insurance