Comments on: Which Types of Insurance Do You Really Need?

By: Hank

Hank — Fri, 05 Feb 2010 17:05:04 +0000

I think that an overlooked insurance for property owners in a general liability coverage.

By: Ryan

Ryan — Sun, 31 Jan 2010 19:57:24 +0000

Very true, Nat, military members are covered for health and disability, but not all vets or dependents have all forms of coverage (dependents, for example get free health care coverage, but are not covered for disability).

If you are active duty, it is essential to make sure any secondary life insurance and other policies do not include a war clause, which can prevent a payout if the member dies due to war or terrorist actions.

By: NAT

NAT — Sun, 31 Jan 2010 07:22:59 +0000

If we’re in the military aren’t we already covered for health insurance (TriCare) and disability (if you injured on the job)? Additionally, you have to check that the health, disability, and life insurance policies don’t have a war clause.

By: Ryan

Ryan — Sun, 31 Jan 2010 03:54:00 +0000

Good point, Rich. When I was young and single I also had a $10,000 policy through the military, which was enough to settle my estate and cover any miscellaneous funeral expenses that may not have been covered by the military if I were to die. The plan was only $0.80 per month, which was too cheap to pass up (note: the minimum life insurance policy through the SGLI is now $50,000). Thankfully it wasn’t needed.

By: Rich

Rich — Sat, 30 Jan 2010 05:11:30 +0000

>>>If you are single and don’t have anyone relying on your income, then you may not need life insurance. But if you have a family or other financial dependents, then life insurance is essential!<<<

I agree, if anyone is dependent on your income, life insurance is an absolute must! But I wouldn't discount it for single people necessarily. Often, the cost of a life insurance policy for a healthy young man or woman is so inexpensive that it is worth buying just to get insure future insurability.

By: Abigail L.

Abigail L. — Fri, 29 Jan 2010 15:15:30 +0000

i did not think i needed pet insurance & thought it was a waste of $$ but after paying out of pocket $4500 for my dogs emergency surgery i no better! im now signed up 2 PET ASSURE PetAssure.com it gives me the peace of mind i need plus its already saved me a TON of money! in my books pet insurance is a must!

By: Ryan

Ryan — Fri, 29 Jan 2010 14:12:42 +0000

Thanks for your comment, Chris. The reason I included pet insurance is because there are quite a few policies out there that have many limitations and exclusions. As with any form of insurance, I recommend reading the policy thoroughly. Thanks for sharing your experience.

By: Chris

Chris — Fri, 29 Jan 2010 04:29:55 +0000

I disagree with your comment on pet insurance. When you are an animal lover (and we are), you never even scoff about spending thousands of dollars on emergency surgery for your cat or dog.

However, WE did not have pet insurance. Four years later, our would be insurance premiums for our 5 pets wouldn’t have even covered half the cost of the surgery. We now have pet insurance – a small price to pay for peace of mind.