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Which Types of Insurance Do You Really Need?
Posted By Ron On August 18, 2009 @ 5:30 AM In Insurance,Personal Finance | Comments Disabled
This is a guest post by Kathryn Vercillo. She has been writing about personal finance topics for over ten years and yet feels like there’s always something more to be learned about how to save money!
The biggest expense that most people have in their lives is their rent or mortgage , followed closely by the amount of money they pay each month for various types of insurance. To reduce your spending, these are two key areas to consider. If you’ve already handled housing, it may be time to reconsider your insurance. Do you really need what you’re paying for?
Let’s look at common types of insurance and whether you really need it:
For example, you may consider getting a health savings account  instead of a traditional health care plan. You pay less for this account and it’s tax deductible. If you rarely use your health care then you may find this type of plan is sufficient and you don’t actually need standard health insurance.
Ron’s Note: I actually advocate everyone having SOME life insurance  even if no one is dependent on your income. Funerals and final expenses can be very costly and a minimal term policy is probably cheaper than you think.
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