Читать книгу Do As I Say, Not As I Did - Michael N Marcus - Страница 34

•There are two main types of life insurance: term (pure insurance coverage) and whole life (a combination of insurance and investment which should build cash value).

•Many people carry both types.

•You’ll get the most coverage for the least cost with term insurance. This is probably the right kind of insurance if you have children to provide for.

•Don’t think of life insurance as an investment.

•Insurance agents will probably push whole life because it generates higher commissions than term insurance.

•You can probably borrow against a whole life policy.

•The length (term) of a policy should coincide with your needs. It should last until you expect your kids to become independent.

•Buy life insurance when you’re young and healthy.

•Tell the truth on the application.

•There is no simple and perfect way to determine how much coverage is enough. If you have young kids and/or owe lots of money, you should have enough insurance coverage to replace as much as ten years of your salary, or maybe even more. The coverage figure will vary depending on whether the surviving mate will have to support kids, other assets that may be available, age of the kids and expected educational and wedding expenses, etc.

•I know little about long-term care insurance. See this: http://www.npr.org/blogs/health/2014/05/28/316328410/how-to-shop-for-long-term-care-insurance

•Shop around for a good deal on insurance from a reputable company.

•Try to can get a discount for having multiple policies, such as auto, home and life from the same company.

•Car insurance is very expensive if you have male teenage drivers.

•Even if you live in a really crappy neighborhood, home insurance may be surprisingly inexpensive.

•Also, million-dollar liability insurance is often surprisingly inexpensive.

Every car that you see being driven is a used car. Some may have been used for a few minutes and others for five decades or more. As soon as a car is sold by its original dealer its value may drop by 10 or 20% or even more.

If you buy a used car the first owner will have absorbed the first big bite of depreciation.

It can make sense to buy a “previously owned” vehicle:

•if you don’t have to drive the latest and greatest,

•if you do proper research so you don’t pick a lemon,

•if you buy from a reputable dealer who provides a strong warranty,

•and you will keep the car for several years.

Before buying a used car, check its history at Carfax.com or similar websites.