3 Optional Insurance Policies Everyone Should Have

It may be common knowledge that auto and homeowners insurance is a requirement, and most people certainly want to have health insurance, but there are many other types of insurance available. Some of these only apply in certain circumstances, such as umbrella policies, but here are three that are important for everyone to consider.

Term Life Insurance

Planning ahead for your own death may not be pleasant, but it is wise to do. Life insurance delivers funds for funeral expenses, debt payoff, and to provide income for a spouse, children or other family members. Whole life and term life insurance are your options, but affordable term life insurance is a suitable choice for most people. It provides coverage for a specific amount of time, such as the 20-30 years when you need it most, and the monthly premiums are much lower than whole life.

Long-term Disability Insurance

Disability from serious illness or injury is more common than you may realize, and it can be devastating if it prevents you from maintaining your financial position. Long-term disability insurance guarantees that you still receive a percentage of your income during the time you are unable to work. This type of policy is often available through employers or professional associations, or it can be purchased individually.

Identity Protection Insurance

With every facet of our lives stored online, there are countless ways our personal information can be stolen. Identity protection insurance covers the expenses sustained when you have to restore your identity after fraud. Costs like credit reports, notary and certified mail fees, and sometimes legal fees will be incurred. Some policies also provide monitoring of your information to prevent identity theft from happening or resolution services to handle it for you if it does.  

Insurance may not be the most appealing subject to think about but preparation for hardships will provide welcome assistance when they do occur. Once you have life, long-term disability and identity protection insurance policies in place, you will have peace of mind that you are protected in the event of difficult circumstances.


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