The insurance policies you don’t need

There’s many insurance policies being recommend but the insurance agent. Some of the insurance really need and some is not worthy to buy. I just found the article about insurance you don’t need. Just read it

Critical-illness insurance: Most of these policies pay out a lump sum and may also offer a monthly payment for policyholders who are diagnosed with a critical illness.
The illness must be on the insurance company’s list of acceptable illnesses. There may be a requirement for the policyholder to survive a minimum number of days from diagnosis. Some policies may not cover outpatient treatments and illnesses that arise from the disease. The insurer may also have specific rules to determine whether a diagnosis is valid. Having a solid medical-insurance policy may be a better place to put your dollars.

Long-term-care insurance: This insurance is designed to help cover the costs if you eventually need long-term care. For folks with an average income or savings, it may make sense. For those with a lot of money or no money, it probably doesn’t.  Higher income retirees should try to save enough money in case they do need long-term care. Some policies may offer good coverage but it is expensive.

Disability insurance: These policies can be costly and the coverage can vary. Most require a waiting period of a certain number of days you have to be disabled before you can receive your benefits. Still, about one-third of workers end up on the disabled list, out of work for three or more months, at some point in their careers, so it could be a good idea to find out what coverage you might — or might not — have at work. And these policies can be useful for self-employed people, but read the fine print to understand your coverage. Clarify the insurers’ definition of disability.
.

Source :- MarketWatch

 

Most of us have life insurance but lacking in critical illness coverage. Do you know
It is compulsory to have car insurance in UK and sometimes, you totally hate the

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.