If you have ever had to make an insurance claim, you know that your premium dollars pay for very important protection. Hopefully, you enjoyed a hassle free claims process. If you did have problems getting your claim paid, you probably considered finding another insurer. Either way, you learned the importance of having an insurance company … Read more 10 Things to Know When Buying Insurance Policies
This was a rather interesting week for me. For the first time ever, I had a life insurance agent cursed at me with an F word. The story started last summer when I tried to purchase a term life insurance policy from this agent. He helped my parents stop the monthly payments on their whole … Read more Life Insurance and Medical Information Bureau (MIB)
This is the second part of Financial Risks And Personal Finance Risk Management series. In the first part, we looked at financial risks and risk management as they relate to your income and expenses. In this part, we will be looking at risks pertaining to your assets and credit. Photo by Snoober via Flickr Asset … Read more Financial Risks And Personal Finance Risk Management, Part 2
I was introduced to gap insurance when I bought my new Honda Element in December 2005. Gap insurance is an insurance product designed specifically for buyers who purchase their new car with financing — in other words, those who will be upside down on their auto loan. What is an Upside Auto Loan? When you … Read more Gap Insurance and Upside Down Auto Loan
Risk management is a methodology to mitigate negative consequences resulting from threats and uncertainties. In this article, I’ll be exploring financial risks focused on personal finance and how to minimize these risks. Since risk management is a huge topic, I am going to limit it within the scope of the REAL Wealth Building framework — … Read more Financial Risks and Personal Finance Risk Management, Part 1
I have been dealing with insurance a lot recently, and as expected, one of the insurance agents pitched a whole life insurance for my child with the usual emphasis on it being dirt cheap to get a policy. Actually, he was quite a good salesman and at one point he had me convinced that I … Read more Opportunity Cost of a Whole Life Insurance Coverage
In the first post How Much Life Insurance Do I Need?, I worked with my insurance sales agent on how much life insurance my wife and I need. One of his suggestions is to buy a minimal amount of whole life insurance so that we have a little something to take care of our final … Read more Should I Buy Whole Life Insurance?
“I just saved a bunch of money on my car insurance by switching to GEICO.” I am sure you heard that famous line before. In this post, I will share my story about how I saved $1,145 per year, or 30% off my original insurance bills — and it wasn’t with GEICO. It all started … Read more I Just Saved a Bunch of Money on My Insurance