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2 Comments Already

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mbrcatz Said,
August 28th, 2010 @11:09 pm  

You’re looking at it entirely BACKWARDS.

Insurance is a financial tool. You don’t look at the tools, and then decide which ones to buy. You define the job, that you want the tool to DO for you.

Insurance is only one type of financial tool. If you don’t have a specific job you want that tool to perform, don’t buy the tool. That usually includes life insurance for single people with no kids or other type of dependents.

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Tom Z Said,
August 28th, 2010 @11:54 pm  

The least appreciated coverage is disability insurance. How do you pay the bills if you get sick and are unable to work. Order of priority would be to purchase long term disability with a 6 month elimination period (an elimination period is like a deductible) and if you can afford it add the short term coverage to coordinate with the long term disability.

Do you need life insurance if you are single? No, unless there is someone who depends upon you for their support.

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