Comments on: Insurance You CAN NOT Do Without

By: Friday Links - Canadian Finance Blog

Friday Links - Canadian Finance Blog — Fri, 12 Feb 2010 22:47:26 +0000

[...] Manumission included Insurance You CAN NOT Do Without in this week’s Cavalcade of [...]

By: Rick

Rick — Fri, 22 Jan 2010 09:40:30 +0000

Tom, thanks for your advice. It seems like eons ago now that I was forced by economic necessity to cash in all of my own personal life insurance. It’s obvious from your comments that I should have had coverage on my elderly mother. Well, failure is often the best teacher to the slowest to learn and most stubborn humans. I certainly qualify, there. I will not make the same mistake twice. Fortunately, I have a rather large policy on myself so at least those I leave behind will feel a lighter financial load.

By: Tom

Tom — Tue, 27 Oct 2009 15:49:33 +0000

Rick, sorry to hear about your situation. And you’re right that insurance to cover your mortgage is a necessity. However, you can get a better deal with term life insurance, making sure the value covers all your debts and any other priorities (children's education, etc.). Mortgage insurance can be a bad deal since it costs more compared to term life for the same amount of coverage. It’s also a declining coverage, where term life insurance stays at a set amount.

By: Rick

Rick — Tue, 20 Oct 2009 13:26:46 +0000

One type of insurance, I know from experience, that cannot be ignored is Mortgage Insurance. My elderly mother was offered this type of insurance but like fools we did not get it because we envisioned my mother being around for years and years with the proper care. Such was not the case and she died shortly after we purchased property we could only afford with her supplemental Social Security checks.

Now the house is not paid off as it would have been, we’ve paid an additional $25,000 since that time and, even with us doing our best, the loan has been like an enormous weight stopping us from pursuing our own financial goals and making it so difficult we can barely make ends meet.
Rick

By: Toddriffic

Toddriffic — Thu, 08 Oct 2009 18:57:38 +0000

Nice write-up… Life insurance is especially important if you have a family, but even for those who will take care of your arrangements…it can be a burden.

By: Forex Hacked

Forex Hacked — Thu, 08 Oct 2009 05:13:16 +0000

Thanks for the links.

I never thought about disability service at all until I read this article. Definitely something that not everyone thinks about.

Thanks.

By: Craig

Craig — Wed, 07 Oct 2009 16:07:00 +0000

Health is the #1 insurance you have to have. At what point does life insurance come into play? I recently got renters insurance thinking for now that’s a must for me. And also have auto, but you have to have that.

By: Mutuelle

Mutuelle — Wed, 07 Oct 2009 15:43:30 +0000

Thank’s for this links 14 tips when purchasing insurance and for the post