In modern days, it might be possible to add another hook to the phrase “the only sure things in life are death and taxes.” Now, you might be able to add “insurance” to that list. You buy insurance of all different kinds in order to pay for peace of mind, essentially, and since enough people are paying for that peace, the money and resources get spread around accordingly.
You can resent it or resist it, but playing by the rules of logic are generally going to make you feel better in your head, and can even be the difference between carrying on in the lifestyle that you’re used to after an accident, or getting a hard hit to your pocketbook, and potentially even having to deal with bankruptcy.
So, five sets of insurance to pay attention to, particularly as an adult with some type of professional career, and perhaps a family to take care of as well, include life insurance, car insurance, phone insurance, health insurance, and home insurance. With these five taken care of, you have much less to worry about in the event of catastrophe.
Life insurance is all above taking care of your family. If you can afford it sensible, buying life insurance means that you can rest easy thinking about the dangers of life, even if you don’t have a particularly dangerous job or work in a dangerous area. You know that your spouse and your children can carry on with the goals that they currently have, and won’t have to spend any extra time dealing with financial matters that weren’t even their fault. Depending on your current life situation, different life insurance packages will have vastly different costs and benefits, which is why you should talk to professionals about this extremely important decision.
If you drive, you need car insurance. And in many cases, it’s not going to be you that causes an accident of some sort, but you’re certainly going to end up paying for it. And, the nicer the car that you have, and the more you have to lose, the better auto coverage you should plan on getting. Cars aren’t something you want to stress out because of, and good auto insurance is going to be the best way to settle your mind on the matter, especially if transportation is an important part of your family or professional life.
Phone insurance is something that’s a bit new to the mix, but it can be very important for people still working into the adult world especially. When you pay $500 for a phone, and then the next day it gets wet, you’re completely up a creek if you don’t have any insurance on it. Yes, data, photos, and information will get backed up, but if you don’t have another $500 to spend right away, that could really curtail your communication ability quite quickly.
With new insurance laws in place, health insurance has become a bit of a bugger to different types of people. Some people that could never afford it before now have options, and some people who already had insurance need to move to new plans. It’s extremely important that you understand the fine print when it comes to health insurance decisions now, as it can have a big effect on things like your overall deductible, and it also has a tendency to make a huge difference when it comes to doing your taxes every year. Spend some time talking to your family about this topic so that there are any medical expense surprises later.
And home or renter’s insurance is a big part of modern life as well. If you have a lot of expensive belongings in your home, perhaps if you have an expensive hobby, or even if you’re a collector of some sort, if you don’t have the right insurance in place, that can all go up in smoke, or all get drowned in water in the cases of accidents, bad weather, or a number of other different potential factors. Different types of homes need different types of coverage, so be sure to talk to a company that is as above ground as possible.