subject: Don't Waste Your Money On This Insurance [print this page] Don't Waste Your Money On This Insurance
Nobody really likes to pay for insurance month after month and year after year. In fact it's just about the most annoying thing that I can think of, especially if you never actually use the insurance. And rates always seem to keep going up year after year. I'd actually fall over if my rates decreased one year!
As painful as it may be to pay for insurance, there are a few types of insurance that are a pretty good idea. These include automobile insurance, homeowners insurance, life insurance, disability insurance, and of course medical insurance for yourself and your family.
On the other hand, there's lots of different types of insurance out there that you should absolutely not waste your money on. If you have any of these types of insurance, I suggest you cancel them immediately no matter what your slick insurance agent tries to tell you. What insurance am I talking about?
Air travel insurance, this is a pretty funny one. Usually you buy this insurance whenever you've planned a vacation or business trip and it's usually pretty cheap. Basically it's insurance that pays out if you die in a plane crash. If you've already got life insurance then there's absolutely no reason to buy this insurance and even if you don't, it's still a little silly. Isn't it? I mean, come on...
Accident life insurance is another one. This pays your family if you die in an accident. Of course, if you already have regular life insurance you're probably covered already and there isn't going to be a need to differentiate between the cause of death (between accidental or from natural causes)... dead is dead!
Cancer insurance is another one. Everybody's scared of cancer, sure, but your regular health insurance will cover your medical costs if you get cancer, there's no need to purchase a special policy just for cancer. These are just policies that try to feed on your fears. Keep that in mind.
Children's life insurance. This is another one that people buy with no real reason to get it. Life insurance is used to cover the breadwinner in a family so that if they die and can no longer support the family financially, the family will still get paid. A child is not responsible for a family. Your family isn't going to be financially strapped if your child dies. Sure it's tragic but it's not necessary to insure against it.
Vacation rain insurance, this is my favorite one. Basically they pay out in the event that it rains during your vacation. The kicker is that the insurance companies that sell this type of insurance use very accurate meteorological forecasting data that is highly sophisticated and the chances are, you will never get to take advantage of this insurance.
So there you have several silly types of insurance that you should never waste your money on. Stick with the big four or five that you absolutely need and don't worry about the rest.
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