Hey Junkie ;-)
I highly recommend Life insurance. I used to sell it, but even though I no longer do, I learned its value.
Take this test to see its value. Imagine you or your spouse died today. Go thorugh all your debts and expenses and decide how they would get paid without insurance. If you do not have kids yet, but plan to, try the same exercise, but add in costs for sports, clubs, daycare, cloths, college...
As you can see, costs add up. Getting a basic 100K policy is quick, easy, and cheap if you are young and healthy. I got mine when I was in my 20's and it's good until I'm 65. I pay about $25 a month for 100K for myself and my spouse (total 200K if we both die). It's a small amount to pay cover a big potential expense.
The more complicated decision is what type of Life insurance to buy. There are short and long Term policies (insurance only, no cash value). That is what mine is. The term is until I'm 65. Then the contract is over. Other policies have savings or investment plans attached to them. They cost more due to all the administrative fees, but if you hold them long enough, they accumulate a good cash value. If you can be disciplined to save/invest wisely, you would fair better getting a term policy and investing yourself. If you feel you need the help and are willing to spend the money in admin fees, go for the combo policy. They are refered to as Universal Life, Whole Life, Variable Life, etc.
As for companies, there are a lot of good ones. Stick with the big names on this one. Don't go cheap, otherwise you may get a suprise at a time that you need relyability.
Let me know if you want to know more about it.
Ken
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I highly recommend Life insurance. I used to sell it, but even though I no longer do, I learned its value.
Take this test to see its value. Imagine you or your spouse died today. Go thorugh all your debts and expenses and decide how they would get paid without insurance. If you do not have kids yet, but plan to, try the same exercise, but add in costs for sports, clubs, daycare, cloths, college...
As you can see, costs add up. Getting a basic 100K policy is quick, easy, and cheap if you are young and healthy. I got mine when I was in my 20's and it's good until I'm 65. I pay about $25 a month for 100K for myself and my spouse (total 200K if we both die). It's a small amount to pay cover a big potential expense.
The more complicated decision is what type of Life insurance to buy. There are short and long Term policies (insurance only, no cash value). That is what mine is. The term is until I'm 65. Then the contract is over. Other policies have savings or investment plans attached to them. They cost more due to all the administrative fees, but if you hold them long enough, they accumulate a good cash value. If you can be disciplined to save/invest wisely, you would fair better getting a term policy and investing yourself. If you feel you need the help and are willing to spend the money in admin fees, go for the combo policy. They are refered to as Universal Life, Whole Life, Variable Life, etc.
As for companies, there are a lot of good ones. Stick with the big names on this one. Don't go cheap, otherwise you may get a suprise at a time that you need relyability.
Let me know if you want to know more about it.
Ken
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What They're Saying...
"So there are some people out there that feel me? They want to make insurance fun; they want to make insurance sexy. SexyInsurance.com."
"You didn’t know you were part of the sexiest industry on the planet, did you? Me neither."
"Children advertising house parties on the likes of MySpace have often paid the price as their parents' homes are destroyed. Should we expect to read stories of wild insurance seminars being trashed by gate crashing actuaries after seeing the event posted on SexyInsurance.com?"
"A place to complain about your insurance job and hook up with someone "- Afternoon Advice with Tiffany Granath
"Social network Web site gets on sexy side of insurance."
"The point of the site - for those who know that they belong to the sexiest industry on the planet - is to interact."
"Check it out, create a page, and network with your sexy colleagues! Yee haw!"
"With 42 members so far, Sexy Insurance has a way to go before rivaling Facebook’s 60 million members."
"One forum on the site is dubbed, After Dark -- the place to share your party exploits!"
"Insurance professionals looking for friendship (and maybe more) can now look further afield than Facebook or Match.com."
"Most Emailed #10: Sexy Insurance? A New Social Networking Site for the Sexiest Industry on the Planet. Meet new colleagues, network, job search."
"January is traditionally a gloomy month, so we appreciated the raucous laughter caused by an email a work colleague thoughtfully forwarded, informing us of the latest social networking phenomenon to hit the UK."
"A lover’s guide to insurance."
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